Hi All, currently weighing a decision on a job offer I have in hand.
For context, I currently work in analytics/advisory for a BB bank making 83k + ~8% target, with a decent WLB (~45-50hrs, however we just returned to the office and my commute is ~30 mins). I am at just over a year experience out of college, and I am aware that sometime in 2022 (likely mid to late) the expectation is that I will make associate (given my reviews I would peg this at 90% chance), and my salary will bump into the 110k range, with a slight jump in hours to be expected. I also come from a target school if that's at all relevant.
Now, I have an offer in hand from a smaller financial firm (~1k employees) looking to build out their analytics team within a certain sector (which is/was my main focus at my current job). They are offering 100k + 10%, with solid opportunities for raise/advancement, but the kicker is the job would be fully remote for as long as I want, and the WLB seems to be fairly solid. The role itself seems very interesting and my potential boss seems great, but the fact of the matter is the firm is relatively no name (I had not heard of it before the recruiter reached out). So the prospect of leaving a safe name-brand role for a smaller firm has me a bit concerned.
Is the hit to my resume not worth the pay/lifestyle bump? I have gotten some mixed opinions from people I know, but as I don't really have a "mentor" to turn to, I'm not really sure what to trust.
I'd say it's probably too soon to jump. Getting promoted at a reputable firm is meaningful early in your career. But if you're leaning towards jumping I would ask for two things and see if it gives you an insight into the smaller company's mentality:
1) Go for another 10-20k from the smaller firm
2) Ask for a title boost
Here's how I'm looking at it:
(1) Don't feel trapped by the 'I'm close to promo' thing -- you're 50% there and have a year+ left
(2) The pay jump after said promo would be about equal to your current offer. This accelerates you a year, assuming the new firm and old firm have similar advancement timelines and pay bumps (which you should investigate)
(3) It sounds like you enjoy WFH. If so, this is a material benefit
I wouldn't think your resume would take any sort of big hit, especially if the title at the new firm sounds higher up vs old
1) That’s a good point. In the worst case I am 18mo from promo still, and I am not sure if I will like the work I get silo’d into given it is a BB and there is little control over projects etc
2) That’s true. At the end of 2022, I can expect to be somewhere in the range of 110-125k base assuming promotion and I continue to get solid reviews. Getting to 100 now, with 2021 and 2022 EOY raises likely gets close to there, and a potential promotion might (emphasis on potential) top the 125 best case from my current job. And at the end of the day, while I want solid comp, lifestyle is more important to me, otherwise I would have pursued something else.
As for promotion/raises, This is the quote I was given when I asked about it:
“We are building out the xxx Analytics team this year and this is a major initiative not only for the team but also the company. This leaves a ton of opportunity for growth since this is a newer team. We do not have any defined timelines of when you can get promoted. If you come in and do a great job, it could be anywhere from 6-12 months, if not earlier.”
3) yes, being back in the office now has reinforced this for me. On top of the ~5k financial benefit of working remotely, I’d likely value the lifestyle at ~5k as well.
I think my biggest hang up really is just the fact I’d be jumping ship from a top firm at the 1 year mark for something with no name recognition. I don’t want this to be something that looks bad on my resume 4 or 8 years down the line
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