Should I jump on this job offer? Please help!
I need some advice.
A little background first: I currently work in a sales position at a European boutique and my career is progressing well. Overall I am happy with the employer but always wanted to trade rather than be in sales. My end goal is to manage money with a global macro strategy.
The situation: A former colleague of mine rang me yesterday. He quit my current employer and joined a regional bank as head of trading about a year ago. He managed a very large fixed income fund before he joined my current firm. I started in a macro research position and he was the senior analyst, we work very well together. He wants me to join his team in a role that will eventually be in charge of all fixed income trading within a specific country I know well. Since I have no background from trading he will train me but I will in charge as soon as possible and according to him within one to two years. The bank has a book of close to USD 200m in this market.
The pros: I will learn to trade which will never happen at my boutique (we have no book). I will be trained by a guy I really like who has a very strong track record.
The cons: This bank is by far a much less prestigious than my current firm. Thus, if it does't work out it will be much harder to get a new job I like. The potential money is much less.
Bearing in mind that my ultimate goal is to manage money is this a no brainer? Should I jump at this offer even though it will most likely mean much less money in the medium term?
Any input is greatly appreciated!
In my view you have to take this! It sounds like you'll have far more responsibility and by the way you've written this you want to take the move, and will enjoy it, but just need the push as it's always daunting thinking about a move...
Thanks for that. I think you are basically correct in that I want to take the offer and am just trying to get verification. However, I guess the main question is wether a trading job at a medium size European bank outside of London is a good stepping stone to a global macro fund? If not I'm not sure how much upside this job offers both in terms of financial return and reaching my career goals.
You're getting caught up in the money and prestige of the current place. But the bottom line is that you'll never put yourself in a position to reach your ultimate goal if you don't get trading experience. This one is a no-brainer, take the new offer.
Seems like a no-brainer to me as well, especially if you've always wanted to trade. Perfect opportunity with great people. Opportunities like this do not come by easily. If you turn it down, I guarantee you'll regret it. Even if it means much less money short-term, I'm sure the up-side will be big if it turns out well. And I bet once you go there, you're gonna want to stay there, ha!
Also, in regards to your long term goal, this is A stepping stone, whereas your current position is NOT a stepping stone at all.
Keep us posted on what you decide!
Are you post-MBA? If not, I'd stay at current place and get into a good b-school or MFE program, then transition into trading.
I dont think you should discredit the "prestige" factor. The way I see it, at least in the US, if you go from a Lazard in NY where you did research to a regional in Albany...thats not a smart move.
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