70k more comp for more boring role?
I’m considering a role at another firm in my sector. I right now make around 150k all in working on both new deals and portfolio monitoring.
I have the opportunity to hop to another firm at a higher level making around 30% more base and $220k all-in. However, this role is only portfolio monitoring, which is less interesting than originating and working on new deals.
Just curious on the forum’s thoughts on the pros and cons of such a decision.
chase that bag
In the long run your earnings trajectory will be much higher working on new deals / originations vs portfolio monitoring. I would caution you against making a move if you plan on being in the industry for a long time.
You can take your offer to the existing firm and ask them to match it if you are well regarded and think they value you, but be prepared for them to say no. If they do then you’ll need to make a decision, but I would think they will make some effort to bump your comp if they value you
This could work, but there's a severe downside scenario to consider - after you tell your existing firm about the better offer, they say they'll find a way to bump your pay in a few months, but they actually start looking for someone to replace you (and let you go once they have). Have heard of this happening once, so it's something to consider.
Are u currently in corporate banking? I’m currently also in CB and am trying to figure out what exit options may look like from my current role.
Are you working in IG or HY atm? what is the portfolio of credits you'd be monitoring at the new shop?
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