I'm thinking of taking a job with a non-profit in a high COL city underwriting small business and start up loans. I want to support the cause and I think the udnerwriting experience will be great, but I don't know if it could set me back in terms of career growth, grad school and general money.
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So many questions:
- Are you still in school and "thinking of taking a job" or are you already employed? (makes a different to what options you have)
- What other options would you have if you didn't take this job?
- How does the salary at the non-profit look like and how does that compare to the cost of living in your city?
- Is the city the same as where you live now?
- What's your plan after you do this job (for how long, what does it turn into if you stay, what are your desired exit options) and what are your long term career goals?
- What are you thinking in terms of graduate school?
I am currently employed.
Long term, I want to make the most $$$ in the least amount of time while still being happy. Things can change; things don’t always happen as expected.
Salary is livable and the benefits appear to be pretty damn good. I won't post here but there's the standard 15 days + WFH some days. Almost 25 full days off in a year.
While I have my specific role in credit and lending, the opportunity allows me to dip my toe in other parts of the organization. My plan is to go with the flow as long as it gets me to where I want to go. This is not a random NP FP&A job -its in a credit and lending function that is a step up from where I am currently: I'll be analyzing financials and interviewing borrowers, developing skills that will help me transition into that MM or BB bank or other non-bank lender (before or after B School).The principles of underwriting and structuring a $200k loan are the same as those needed to underwrite a $70 MM loan right? The nuances may be different but the basic foundations, I'm assuming, are the same.
B-School: The idea of getting into a school where the "network" or "prestige" can help me get a job is good. I'm not seeking "prestige," simply opportunities and a quality education. I'm not top10 material, but I can be in the top 20-25.
I'm very much a late starter career wise, which is a concern. I'm about 4 years behind where most people are in their careers at this point in time – typically associates or halfway through their MBAs.
If I got the job offered to me right now I would take it, but I like to think long term. There’s the risk that my expectations and the job will actually be different, but from talking with my supervisor to be I don’t think it’s likely.
some non-profits can pay very high salaries (The Clinton Foundation, Gates Foundation, etc...for example) and could potentially be very good stepping stones and create amazing contacts....but it really depends on the foundation and the work you'll actually be doing.
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