Need help deciding what to do with career.
Currently a finance manager at an F50 and enjoy the work pretty much. All in comp mid 150s plus a little stock. Another F50 is offering senior manager title with an additional 30k plus a little stock. I like the company I work for, but the title and money sound really good and not sure what to do. Anyone else have similar stories? I'm still relatively early in my career, mid-late 20s. I've hopped around a decent amount since I got out of college, and would like to settle at one company but I keep getting better offers every 1-2 years.
I live in a LCOL area, so 30K actually is something here. TIA!
It's kind of refreshing to see someone not jaded or worn out lol.
What's the end goal? You want to end up a CFO or something along those lines vs. staying the path and being comfortable? Will the new position accelerate or get you there versus where you are now?
The higher comp is nice but if you're happy where you are, you can be more discerning. Is the other company larger? Will you have more responsibility? More resources/larger team? What's the culture?
No harm exploring the opportunity. Can always pass if it doesn't pass the sniff test.
I'm really just hoping to exit the corporate world sooner than later without having to go work for someone else. I am slowly getting into real estate, and hope to do that full time because I love how hands on it is / learning to fix things / working with tenants / etc. I don't see myself reaching CFO, or even really wanting too. This job would speed that process up, but overall the scope seems roughly the same / team size roughly the same (one more analyst under me if I switch). I really enjoy my current coworkers, and that is what makes me the most worried about leaving.
The companies are roughly the same size in revenue although the stock of the new one has been doing better than where I'm currently at (honestly not even sure if that matters). Thanks for the food for thought!
If the demands on your time are the same in both roles, why not take the extra 30k and delve into real estate anyway. Might be the way.
Could you please provide a little more detail on your past career progression? I'm just over three years in FP&A and just job hopped for the first time to an F50 company. Total comp a smidge under $100k now, so kinda curious where that lines up with you as you're killing it at $150k!
Sure! I started out at rapid growth startup for the first couple years out of school as an FA and helped build out their FP&A processes. As the deal was closing on its sale, I secured an SFA job over at a multi-billion dollar / year private company (while here I did a bunch of M&A integration work and it kinda sucked a lot, but it was cool seeing my modeling help guide a lot of decision making). After over a year there, got reached out to by current company. Agreed to that move if they would give me the FM title as an IC, soon after got a couple analysts below me.
I think I got really lucky being exposed to so much so early in my career. Also, I've always just found ways to model different business scenarios / explain them to management. Most of that part is me just making stuff up as I go along and presenting it like I didn't just make it up out of thin air, but no one has stopped me or called foul on it. This has made me think most of finance is a little bit of BS, but who cares, I still get a pay check.
Thanks for detailing that! Yeah I've definitely noticed that the higher level managers and directors spitball and estimate A LOT, it's a skillset they have...
I've always had interest in working at a startup. Sounds like landing a gig at a strong one really helped your career, so that's promising.
In your situation, I'd say definitely take the new job! If real estate is the goal, every extra dollar in your income counts as you can reinvest.
what is the new role like? FP&A? I'm roughly the same age as you, at roughly the same pay as your current job. Sr. Manager in the 180 region seems out of reach for me- good to hear it is out there. Mind PM'ing me your city?
is this the vibe you get from being in a f500 company - that mostly everyone there is "making it up" as they go along?
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