If you need the money... go for the paid one.
If you don't need the money... don't go for either and keep looking. One of the worst things I did in the past was settling with bands that didn't really do it for me just because I had no others on the horizon. They rarely get better, and at least I ended up resenting the time I had to invest, and didn't really do a great job as my heart wasn't in it. Best to keep looking, I think. Being in an active band requires a fair amount of work, effort... that must be compensated by a mix of financial rewards and fun. If you don't have either... the outlook is bleak, I think.