Already accepted offer for an internal transfer - Will likely be offered a more lucrative position externally
My situation is following, I am currently based in a regional European hub (think Amsterdam/Paris/Zurich/Frankfurt/Stockholm/Madrid/Milan). Since I graduated (summer 2018), I first worked 2 years in a non-banking role and later moved to a credit research role for a regional bank which I have done for 2,5 years. Notably is that I am based in the headquarter at my current bank and I have a good reputation internally among several of the senior executives. I have been offered and accepted to move to the corporate finance department within' my current bank with a start date in January.
However, I am currently in a process for a corporate finance position for one of the largest European banks with global presence and will likely be offered to start there as soon as possible. This position is in a satellite office where they are approximately 50 people over all departments in total.
My dilemma is that I am currently happy at my current bank and know that I will have the support internally to climb the ladder. However, the pay is significantly higher at the other bank. If I take the offer from the other bank, my reputation may get damaged since I have already accepted the offer and they are planning to onboard me in January. Furthermore, I do not want to be blacklisted at my current bank since I could see myself come back there in the future in a more senior position (with a better pay). However, I still do not want to feel to be underpaid .
Have any of you faced the same dilemma as me? What would you do in my position?
bring it back to your corp fin team and negotiate. thats what I did. they didn't match but closed the gap to within 15%, which is worth the discount since you said you like your bank and the culture there. I didn't think it was possible since now I am above my level's pay band but it required approval from the MD. so if you were truly valued around your firm, they should be able to do something for you.
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