I'm looking for some help thinking through a career move. I'm a quant strategist at a hedge fund in NYC and I have an offer to move to a similar but somewhat more senior role at a top tier asset manager in Boston.
I have 8 years of experience and I've spent all of that in NYC so I'm concerned about the slower pace of life in Boston. But the job is a 35% bump in total comp (more after tax) at a more stable platform with a bigger quant focus. I like my current role but am concerned about the stability of my firm, particularly given secular trends in the hedge fund space and competition.
I could turn down the offer and look for a similar role locally, but the offer is very attractive and the team is sharp so it's not guaranteed I'd easily find something similar in NY.
How would you think through this decision?
Hey jtwist, I swear if I had a silver banana for every lonely thread I posted too I'd be richer than @compbanker ...
If those topics were completely useless, don't blame me, blame my programmers...
Do you know people in the city? If not, Boston can be notoriously cold to people new to the area. The majority of residents are from New England and traditionally hang with high school/college crowds. If you're single and want to go out all the time, you might get annoyed by that. I'm a bit younger than you and the nightlife has gotten stale for me... does not even come close to NYC (obviously). I think that the culture/fit of the firm would be reallly important to me because of that.
What I love about Boston is the proximity to the mountains to the north, cape, islands, Newport, NYC and a decent airport. The city is really underrated because of the access you get to those areas.
Only saying this because of your concern over 'pace of life'. Consensus on WSO is that NYC is far better if you're a young single person.
I agree with the previous poster.
If you have a long-time gf or wife, than I would gladly make the move.
If not, the decision is MUCH more difficult. Do you like the new shop? In other words, is this a place that you could see yourself for 10+ years (i.e. do you want your bosses job?). If yes, then I probably make the move.
Is the motivation to move simply driven by the raise? I so, then I would suggest not moving. b/c a modest bump in pay will not compensate for loneliness (lol). I know you may be thinking, 'I could always go to HH with my co-workers', but who is to say that you'll even get along with them?
Is the motivation to move simply driven by the perception of a 'safer' seat at a AM? If so, then I would definitely say no. The AM market is far from safe nowadays.
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