Hello WSO, Just had an opportunity present itself in an area I am extremely interested in. Some context first:
I just joined a MM bank in the ALM group last June (first job out of college), particularly helping develop credit loss models to determine how much reserves the bank should hold.
Recently my job has given me great exposure to people high up in the bank (meetings I organize include the controller and C-level minus one execs, a deck I helped create last week was presented to CRO and the Treasurer, currently working on a deck for the BoD)
My job has mainly been more project management based, however, and am not getting to stretch my analytical or problem thinking muscles as much as I would like
I've been getting really involved in the city I'm living in, joining non-profit boards, getting involved in the start-up community, making a ton of friends, all in less than a year.
So yesterday I learned of a Corporate Strategy rotation program which will last approximately one year before being placed in a group doing strategy. Interviews would be in about a month, with selection being in mid-June. Start dates are TBD (following up with HR on this). I don't know a ton about the program other than I would be working on strategy issues related to C&I banking, they promise good exposure to executives, and good placement afterwards. This program would be in a different city (company headquarters city) which is coincidentally where I went to school. Some issues I am struggling with:
Feeling of loyalty to my current group and not wanting to "jump ship," especially after only being in my current role for less than a year
Leaving the city I spent so much effort trying to get involved in and building a network/relationships. Could be a sunk cost fallacy here but I'm not positive
This program seems right up my alley in what I've always wanted to do (had interviews with MBB in school, didn't get offers, but still very interesting in maybe going B-school to consulting)
Overall I think my biggest hangup is not wanting to leave the city and start friendship/network building from scratch and not wanting to jump ship, so to speak, while leaving my old group to fend for themselves (quite understaffed right now, though might change).
Any advice from my fellow monkeys?
One point I'd like to make is that "leaving your old group to fend for themselves" should never be a factor in your decision. This is your career - do what you think is best for it. Your old group will be fine without you and you don't owe them anything. It sounds like the corporate strategy role lines up perfectly with your interests and trajectory, so I would say go for it.
I think you are absolutely right, I shouldn't necessarily consider my current group as impacting the decision. Based on that then, I think my biggest hang-up is really more on the personal side, in not wanting to start over from scratch in another city. I'll reach out to some of the people in my network and see what they suggest.
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