So friends, I have doled out some of my wisdom, I'm now looking for a little perspective back.
I am entering my final year of a 3 year FLDP. I've been pretty fed up with the process at this point simply because I don't find the work challenging, interesting, or rewarding. So i've been networking and getting my resume out there. My long term goals are probably ---> corp dev at a startup. I was thinking maybe consulting before that. Not sure. Strictly finance isn't for me.
I have an offer to take a role as a business analyst at a midsize private company that reports directly to the COO. It's a ~25% raise. It is seemingly more responsibility, more pay, and somewhat closer to something I might want to do long term.
But, it's a company no one has heard of. And it's in an industry I don't enjoy. My current company is a brand name and in an industry I enjoy somewhat more. My current company places people into decent but not great MBAs (think Ross/Fuqua/etc). I know nothing about that from the new company.
So i'm not sure if I should take the new job with greater responsibility and pay and then revisit my options in a couple years. Or if I should stick it out here another year and then jump MBA to make a career switch. It's a tough situation for me so thoughts appreciated (assuming you aren't an undergrad/HS kid).
Think of the long term frankly - if you're young than the 25% bump in pay really shouldnt be a factor for whether you take the job or not. I'm probably going to take a chunky paycut if / when I accept a current offer but you need to think of how you want to build out your CV and you want names people recognise on that CV.
If you have any contacts within that industry ask around maybe and see what people think of the company if they know it?
I agree with eula. Think about long term. Consulting might be a good idea. 2 years and you can be out to a great Bschool. Jumping to a no-name company for 25% raise might not be the best idea.
So neither of you think the the added responsibility is worth the hit in brand? Especially since I already have two years of brand on my resume.
bumping for any other advice
Hard to say -- "business analyst" is really vague and can mean a lot of different things -- i.e. sometimes it means more strategy work and sometimes it means IT work. What kind of work will you be doing?
I think it depends on how much you're currently making. In my opinion $50K-->$62.5K =/= $100K-->$125K. Granted, 25% is 25% regardless of how you look at it, but there's still a large difference from a pure numbers perspective. If you're currently making $50K-$60K, I'd... 1) stay at the large company for the brand and b-school, 2) wait for a job with a much larger raise or (not unheard of to go from $60K-->$90K), 3) wait for a job that more closely aligns with your LT goals.
From what i've been told i'll be working in a situation where I am somewhat of a bridge between the operations team and the finance team. It'll be fairly ad hoc. It's not all that well defined as it's a new role.
The jump in pay is in between the two numbers you listed. Think more like 15-18k raise. It could possibly be more as there is a very regimented bonus structure here (everyone my level got ~700 dollars) whereas there is certainly more flexibility depending on how well I do in the other role.
I'm also looking for opinions on B school. Do people think leaving a name brand like this will hurt me if I apply to B school in two years? As in, am I less likely to get into the same schools since i'm no longer at the name brand even though I worked there?
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