JPM or Wells for credit
Hi everyone,
Recently I have been in talks with a VP at JPM for a potential pivot from credit at Wells to JPM. I just started my career but they are offering like 20k more for me to jump ship and do some more hands on work. 20k extra is a big deal to me right now.
I am tempted to take the offer once it is presented officially but I want to ask if it would give me a bad look just starting.
Based on previous WSO threads, here are some insights:
Changing Jobs Early in Your Career: Changing jobs frequently early in your career can sometimes be viewed negatively. It might give the impression of instability or lack of commitment. However, if the new role offers significantly better opportunities for growth, learning, and compensation, it might be worth considering.
Compensation and Experience: The additional $20k is a substantial increase, especially early in your career. If the role at JPM offers more hands-on experience and better learning opportunities, it could be beneficial for your long-term career growth.
Potential Risks: Be mindful of the potential risks. Switching jobs too often can burn bridges and might not guarantee a better job down the line. Additionally, consider the bureaucracy and culture at the new firm to ensure it aligns with your career goals and work style.
Long-Term Goals: Reflect on your long-term career goals. If JPM provides a clearer path to achieving those goals, the move might be justified. However, if you are content with your current role and see potential for growth at Wells, it might be worth staying.
In summary, weigh the pros and cons carefully. The additional compensation and hands-on experience at JPM are attractive, but consider the potential long-term implications of an early career switch.
Sources: CIB Credit Risk J.P. Morgan, A Guide for Switching From Commercial Banking to Investment Banking, A Guide for Switching From Commercial Banking to Investment Banking, GS/MS/JPM vs EVR/PJT/PWP, No bonus/payrise despite good year
what city / geography and how long have you been in the role?
Charlotte, NC and I just started like a month ago. I wouldn't really be leaving with bad blood and the much higher comp would be a game changer.
both roles are in Charlotte? or JPM is in NYC?
Moving from Charlotte to NYC would take more than a $20k bump in base to be kept whole. your take home pay would be lower after rent + taxes.
If both roles are Charlotte, then do JPM for sure.
Both roles are in NC.
What do you like about the JPM opportunity other than the $20k? Agree that is materially more in CLT, but what else is compelling? I'd imagine you would be working on more interesting / riskier credits unless both are investment grade. I know it is hard to think beyond $ early in your career (I did the exact same) but try to think about upward mobility, what work you find intellectually stimulating, will you get along well with the team, WLB, etc. FWIW I don't think you will be burning any bridges since they haven't invested a lot in you time wise but they will certainly be disappointed but have to do what you think is best for you and your career
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