Background: I'm an SVP in a commercial banking credit role at a medium-sized bank. My job is "fine" and there is nothing intolerable about it except that I am bored to tears doing it. In addition, the firm is going through some growing pains and making poor decisions about how to navigate this path. I have seen this movie before at a previous bank where we went through the same things and made the same mistakes. Given these factors, I had decided a couple weeks ago to start cultivating new options. I am relatively well-compensated for the level of work that I do and I have a great deal of liberty to manage myself.
Situation: I've been approached by one of our clients who is in search of a CFO and I've sat for a couple interviews. This company is relatively young and small (think 5 years old and $50MM in revenues) but has been growing quickly and has the potential to grow further still. They currently do not have a CFO (just a weak controller) and recognize the need for this function if they are to manage the growth into the future. I find the business itself to be interesting and I mesh well with the owner. Taking the job would come with a haircut on compensation, but not an amount that would greatly disrupt my personal financial situation. In addition, there would be some % points of the bottom line as a bonus structure that could make long-term pay equal to or greater than current total compensation.
Dilemma: I'm generally bored and disappointed with my current firm. Do I try to leverage this new offer into something else where I am and just take the paycheck home or do I take the plunge and try something completely different?
Think about what you want to do long-term and whether you can accomplish that in your current role or in the new role.
Far beit from me to advise (mid-30s in Corporate Development), but I'd jump -- especially if you're bored. Help grow the business and move on to bigger and better things (or stay there and profit...)
I find it very difficult to see myself in my current role for the long-term. The only reason to stay would be compensation and potential for advancement within the bank. That said, I do not work in the same city as the HQ (and am unwilling to move there) so I will forever be out of the loop on new jobs because we all know banks/corporations are unwilling to embrace the working remote paradigm. I do not think they, if asked, could articulate a long-term plan for me.
If I stayed and took higher compensation but had to keep doing the same job for the intermediate term, I would still be feeling out other options.
What I want to avoid is taking this opportunity because its the first one to come across my desk since I've made this decision. I do think it's actually a good company with good prospects and I'd enjoy the challenge, but still want some food for thought.
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