Career Advice - Should I Jump Ship?

you are just flying thru the ranks huh buddy! good stuff!

Thanks dude, a lot of it has to do with getting caught in a good circle. Did well initially so I got put in better engagements, which made me learn a lot faster, which got me on even better engagements, got me promoted early, got to deal with higher level clients etc. I definitely consider myself really lucky.

If you still really love your job and the present value of compensation is not that much better, why jump? The way you talk about the offer makes it sound like you feel like you are settling.

If you think you're settling for this offer, then you shouldn't take it. The timing of your consulting promotion implies that you're great and have the opportunity to further grow within the firm.

i wouldn't take it. there's a big difference between 250k and 750k. plus it will be a lot more boring stuck in one location, esp in a Canadian bank.

MD for anything at a bank is extremely political, FO/MO or otherwise, so factor that in. Typically, progression in anything outside of FO is slower because the turnover is less once you get beyond entry level. It's still up or out, but not on the strict 2-4 year breakpoints, and there are a lot of people that treat it as 'just a job' who aren't too quick to try and jump around / honestly put in the work to climb the ladder. It can also be more gridlocked at the top though, because you're dealing with career beaurocrats who sometimes spend more time protecting their turf than focusing as much on the work itself when compared to FO types. This is just my experience with MO/BO pplz so far, so I could be wildly wrong depending on what specific group/company. Do your homework and don't make the decision based solely on money?

If you are comfortable fucking up the curve and working longer hours / some weekends, you could blow through the ranks more quickly (MO pplz are usually not as obsessed with advancement). I can't comment on whether or not you should switch, I don't know anything about consulting.

Maybe this will help: I interned in FO, then MO, then went to work in FO again. The time in MO was easier for sure, but hell because the people just didn't have the same "ok, let's get this done" mentality. Easier to manage, but more frustrating to work with.

Sorry for the long post, hope this helps with the decision making process.....

Don't leave until you have an offer that makes it a no brainer.

Interesting points so far. The main draw for me is that it is at least as much money but half the work. After flying tens of thousands of miles in the last 18 months, I'm totally fine with no more business travel (it is highly highly over rated even when it's business class and there are nice hotels involved). I'm struggling a little bit with the bonus target. Does 25-40% mean it's just going to be 25%? If 40% is reasonable, then that's a pretty decent bonus at the end of the year.

It's not a no brainer to take the offer, but it's not easy to turn it down either. 5 weeks of vacation, 50 hrs a week for the same or slightly better comp. I think the growth is what's going to sway my decision. Still looking for some feedback on that part.

From what I can tell (and remember) you've been promoted at your current firm about as fast as possible. Do you see that changing in the near future? Like you said, you've only been there 18 months, wouldn't waiting it out another year or so be worth it if it meant another promotion and (a bit presumptive here, I know) a higher position when you do decide to move? You really only get 1 maybe 2 shots to make a career transition worth it (ie moving from Consulting to industry).

did you try negotiating salary/bonus?

i say stay in consulting, you are on the fast track there... no need to rock the boat just yet. Ride it out for a few more years, raise your profile even more, and then jump to industry.

congrats!

and agreed on all the above posts

Stay put and suck it up. Making a little more now with better work life balance means a lot less than making a lot more with a better work life balance later (ie when you have kids and such)

Who's making the offer? The company's HR, a recruiter, or someone you know there? Based on the above, it sounds like your best bet is to stick it out where you are for a while, get some more seniority, and then lateral to an even more awesome industry op....but the person making the offer is a significant factor.

This may help: Last year I started looking around at other opportunities and I was approached about going from MM AM (internal sales) to Big 4 AM advisory (MOish sort of work) by the company's HR recruiter....and the terms were very different than described by the external recruiter working for another accounting firm. Standard HR folks were largely not involved in any of the conversations except to match up identical job descriptions (a computer could do that, I don't know why they bothered).

I've decided not to take the offer, but I haven't communicated that to the bank yet. Before I do, is there any way I can use this to get some more money out of my firm without seeming like a total tool? I know for a fact that if my partner thinks I'm going to leave, he'll give me more money, but then I damage my reputation. So can I convey that I don't plan to leave regardless, but would appreciate a raise...?

What was the timing of your promotion? If I were just recently promoted, I wouldn't ask for a raise unless I knew I was getting below-market for my new position.