Opinions Welcome - Job Offer
So a little background before I get into it:
M&A analyst for 16 months now at a good boutique shop (niche markets), will be made A2 by year end. Overall enjoy what I do, like the people I work with, hours aren't disgusting, work pretty much every other weekend so its nothing too bad.
Now I haven't been actively looking however a headhunter called me up with a role at this buy side, not particularly well known but has exposure in the niche things I cover, has some pretty interesting projects, calibre of people is good...very well known partners however it's not the same as where I currently work where everyone is very very good.
So I went for the interview on the assumption I could just turn it down, I liked the people who interviewed me, liked the role...less bullshit on the buyside than on the sell side (internal shit, pitch work etc etc)
It progressed and they offered me a role, now I'll be forgoing my bonus as we use a year end structure rather than a summer one and I'd have worked for 11 months of the year, they won't buy it out at all so that's gone.
They are offering me about a 10% increase on my base again which isn't great, I think I can negotiate it up but they want to know that I will actually join if they get the internal approval for it.
Now I really am not sure what to do, the fact they wont even give me a % of my expected comp at the end of the year is a bit annoying,
I do like where I am, occasionally I get frustrated with the bullshit but that's normal, its been a pretty shitty year with headcount 'reviews' but I'm super comfortable with the seniors there, have great exposure to really very good MDs
But on the other hand, buy side is where I want to end up and I really did like the sound of the work I'd do, the hours are relaxed, no weekend work etc.
Perhaps I should stay for a while longer? There is a deal in execution currently that I would like to be around when it closes, there's also my bonus...
Anyhow views on which one would serve me better in the long run would be great.
Sometimes these opportunities only come once. Don't take a chance, make the jump. A little extra money at once is not worth passing up a better job with better hours and better pay. Long run > short run
Sounds like you want to jump ship but do not want to lose your bonus where you are currently working.
Would you regret turning this offer down when you look back in 5 years?
Good Luck with whatever decision you make
Take it and don't look back. Congrats on the offer.
Are you "super comfortable" with asking your MDs to spot bonus you one month in advance, then jump ship?
-only half joking
Maybe try negotiating the start date of your new offer? Is that possible to delay? Then they wouldn't have to spend money to buy you out and you wouldn't miss out on your bonus.
That may definitely be possible. You just have a slight risk that they may find another great candidate in the mean time and remove your offer (unlikely but possible).
Another idea is, the buy side firm may be willing to "front" you the bonus at your current firm; almost like buying you out. So (making up numbers) if you plan on making a 35% bonus at your current firm, the buy side may be willing to pay that as a signing bonus. They may want some substantiation of where the % bonus comes from (past bonus, industry norm, firm norm, etc.) but it's a reasonable request.
They may be able to structure it so they don't have to get the ridiculous recruiter fee tacked on (it's like 30-40% pay package usually!). I would not go to the recruiter to ask them if they would do this bonus structure. Get in contact with the hiring manager directly if at all possible. The middle-man recruiter may not like it, but they will never know.
There's a few questions you have to ask yourself that only you can answer:
Is it about the money or the environment that you are thinking about switching? (From what you have said, with the slight pay increase and your bonus coming up, it seems like its about environment. You should really soul searching to see which firm you are going to WANT to work at, then that firm is probably the right long-term decision. If you say I WANT to work at both, then I'd honestly stay where you are at to build an expertise on buy side and get that promo+bonus. But if you want the other firm, then like the guy above said "Take it and don't look back.")
Where's the risk/return in the markets each firm covers, their clientele, and their past performance? What do their cultures seem like? How do the answers to those two questions affect the individual job security, bonus, and movement?
Well the risk/return is identical they are both high risk EM which is super interesting (I made the voluntary decision of not working for a BB that does generic industrials/TMT in developed country x)
I think you make a good point regarding building expertise and getting the promo/bonus. Well typically buyside has better job security but I've survived quite a few headcount rounds at the place I am right now.
It is more about environment, realistically my current situation isn't THAT bad (weekdays are a complete right off which is normal) so I'm just thinking it might be better if I last another 4-5 months and collect whatever comp I get then really think about it after that.
To that point though, if you know you want to get into sell side, better sooner than later. Whether with this offer or another.
Thanks guys
Unfortunately can't negotiate my start date, they want someone to start ASAP
So I briefly brought up this company to one of our directors as we had worked with them in the past, he did not talk favourably about them at all, actually said they weren't very good.
I do want to jump ship, I don't think Investment Banking and originating deals etc is for me, I'd definitely rather be on the buy side but then again I dont think this will necessarily be the only ever position that I can get.
I'm just worried that I'll be taking the first job that has been offered to me post-analyst program and it might not be a good one.
Think I'm seriously swaying towards staying and I know a lot of you will retort that it sounds like I've made up my mind but I'm the type to get the world's opinion on something before I make a decision
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