Job Offer Decisions
When it rains it pours...
I am currently at a crossroads of opportunity.
Currently, I work for a large bank as an analyst in risk.
The work life balance is amazing , the pay is great, and I don't work incredibly hard. However, the oppurtunity for growth is not there in my department because the company is trying to cut costs by reducing promotions and performance management has become time based (FIFO) rather than performance based.
Also, while there is still potential for me to lateral into a position that is more analytical than the current one. My management team does not want me to leave and has restricted internal transfers.
That is why I have been looking externally. Currently, I have a few options:
Option 1 - Mu Sigma
Big Data Analytics Consulting
Pro
-Work is more enjoyable/challenging : Big Data Analysis
-quick promotions
-Potential to make engagement manager in 1 to 1.5 years
-Amazing relationship with University Chicago Booth for MBA
-Growth potential: doubling every year
-Only 300 people in the United States
-Salary is only slightly less than current
Cons
-New and Disorganized
-Less Prestige
-Engagements are long
-Loss of work life balance
Option 2 - Startup
Working on a side project with a friend and found out today that a VC believes in the idea enough 500k worth of first round seed funding.
Pro
-Small group of friends.
-Equity stake
-I believe in the business model
-Position will offer flexibility/variety
-work is enjoyable
Con
-I have to go full time to be a part of this
-Significantly Less Salary/won't get much more pay until it takes off
Option 3 -
Continue looking at Tier 1 & more likely Tier 2 consulting firms- LEK, AT Kearny, Accenture Strategy, Deloitte S&0, PwC, E&Y, Bain, BCG,& McKinsey. If anyone works for one of these firms, I would interested in talking with you about how you like working there.
Any comments on advice and wisdom? Has anyone dealt with Mu Sigma?
I think there's a lot of opportunity in Big Data. This is a field that was like how Marketing was in the late 1960s or Banking was in the late 1970s/early 1980s.
Is this what you want with your career? Can you be happy there? And if you're currently in NYC but the job is in Chicago, the discount could make itself up in the cost of living.
Only advice I have is to spend more time trying to narrow down your options, all three are significantly different and I would just recommend taking the one that's more enjoyable/attractive to you. Personally, if I had any savings built up at your stage I'd take the startup position.
same as rpc do you believe in that startup? is it some awesome idea and what are the barriers? btw, how much equity did he give up for 500k if any? any good partners in longer term?
option #3 is also solid one search for more opps
1 would be my last choice but it is very soldhowever, i am a guy who would pick equity over other stuff and kill for it
I can be happier there, I think. One can never be too sure about these things. Luckily, if I don't like it , it is short-term pain for long term gain. Getting my MBA is a priority.
I unfortunately cannot talk to much about option 3 except what has already been told.
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