Job Offer - take it or leave it?
Dear Monkeys,
I’ve received an offer from a boutique platform with better pay, increased responsibilities, and an opportunity to lateral to a real estate role—a sector I enjoy. I connected well with the MD I’d report to.
However, the firm has significant red flags: low deal flow, high cost of capital, weak bonuses (due to low deployment), high staff turnover, and impatient institutional backers. There’s a real risk they’re running out of options.
In my current role, I have stability but lower compensation and responsibilities in a sector I don't really find engaging.
Created a poll to judge sentiment.
Many thanks
Bump
Leave It
I don't know the details. However 1) Base pay is higher but you say bonuses are nonexistent. Then your comp would be lower no? You haven't given a view on how your total comp matches.
If more experienced people than you are leaving how are you a difference maker?
If you take it, you will just have to look for a job in the next year or two
Even with the lower bonuses recently (which, to be fair, has been the case across most RE firms given the rate-driven market downturn), it’s still an upgrade from my current comp.
The staff turnover seems to have primarily hit junior levels.
Yes, potentially I would have to make a move in 2 years time but at least this would allow me lateralling to Real Estate.
well maybe for more comp, like 30% more. Tough place in the cycle to move jobs though
Based on the most helpful WSO content, here's what you need to consider:
Long-Term Goals: If real estate is your passion and this role offers a clear path to transition into it, the boutique platform could be a stepping stone. However, weigh the risks of the firm's instability against your career aspirations.
Red Flags: Low deal flow, high turnover, and impatient backers are significant concerns. If the firm collapses or struggles, it could leave you in a precarious position. Consider how this might impact your resume and future opportunities.
Current Stability: While your current role may not be engaging, stability and a steady paycheck are valuable, especially if you're not 100% confident in the boutique's future.
Compensation vs. Risk: Higher pay and responsibilities are enticing, but ensure the risk of the boutique's potential instability is worth it. If bonuses are weak and deal flow is low, the "better pay" might not be as lucrative as it seems.
MD Connection: A strong relationship with the MD is a positive, but it shouldn't outweigh the firm's structural issues. Ensure this connection aligns with your long-term growth.
Exit Opportunities: If the boutique role can position you well for future opportunities in real estate, it might be worth the risk. However, ensure you have a backup plan if things go south.
Ultimately, this decision hinges on your risk tolerance and long-term goals. If you're leaning toward the boutique, consider negotiating for better terms (e.g., guaranteed bonus, clarity on responsibilities) to mitigate some of the risks. If stability and a safer path are more appealing, staying put while exploring other real estate opportunities might be wiser.
Sources: Stay at Big 4 or jump to boutique?, Employment Dilemma, Boutique IB offer vs. stay non-big 4 TAS, When to jump - Advice on switching jobs, careers, and fields, https://www.wallstreetoasis.com/forum/job-search/negotiating-offer-before-during-and-after-interview-follow-up?customgpt=1
Update: They've just closed a couple of deals slightly improving the picture.
Bump
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