High-level overview of situation
Current firm, BB (JPM/GS/MS):
- Up for Associate promotion in December. In a product group at a regional office (think Atlanta/Chicago/Houston). Top 3 group in this specific vertical.
- Group does not currently have any Associates. Management hesitant to add Associate positions. Firm wants to keep me and direct manager and his manager have communicated a push for a Associate role.
- If the role is approved, the promotion would not happen until January.
Other firm, non-BB (Mizuho/MUFG/RBC/Societe Generale):
- Offered an Associate role in identical group. NYC. After factoring in NYC city and state taxes, the net pay for an Associate level role would essentially be the same as an Associate role at my current firm. Random example: $5.5K post-tax Houston vs $6K post-tax NYC)
- Firm is much less prestigious.
While the ideal situation would be to stay at my current firm and city, there currently is no definite Associate role for me. I’d have to hope that the role gets approved, but I’d hate to turn down a decent offer in a great city and wait 6 months to see if the position will be available for me. Should I just take the latter option?
If you decide you're prepared to leave your current company for the NY offer, you could first try to leverage that at your existing role. Tell them you're willing to stay if they can make the associate promote happen for you now. There's a chance they show you the door, but if you were already willing to leave then no real harm.
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