Hey all, hoping to get some advice on the trade-off of pay and employer versus title early on in your career.
I'm currently a Senior Analyst at a relatively well known non-F500 company and was recently approached about an Analyst role at a very well known F500 company. I have just over 3 years of post-college experience, and am by no means hurting in terms of compensation in my current role. The new role would offer a 20% increase in base pay and 10% increase in bonus in exchange for an effective demotion in terms of title (similar cost of living location). The rest of the benefits package is comparable to my current one.
In the early stages of your career, would a move like this seem reasonable if both companies are aligned with what I would like to do long-term? Or would it effectively eliminate my perceived competency going forward? I'm trying to envision an effective way to frame the situation for a future interview, but I'm not picturing it going well. I either come away looking like a prestige whore for chasing name and money or incompetent for accepting a job below my previous level.
Thanks for any advice!
It will look fine. It's similar to repeating a year when you move from a lower MM bank to a BB.
Thank you, i'll keep that in mind.
Can't bank your title. Take the cash and the better company name.
well said
Titles don't always match from firm to firm. Apples to oranges comparison. Taking the higher paying job is a no brained if the only differential you're concerned about is the title.
I was concerned about the perception more than the specific title.
Is it literally an entry level analyst role? Or maybe Analyst II? Huge companies (like mine) have Analyst I and II before you hit Senior. "Analyst I" basically means you are straight out of college with no skills. You are guaranteed to get to Analyst II within 2 years unless you get fired. I think it's weird that they would offer you an entry level role, or a non-SFA role if you have 3 years of exp. My perspective though is that you can easily shoot to get SFA at the new company in one year (at 4 yrs exp), so you can take the 20% raise now and then take another nice raise in a year, with the same title you have now.
This company appears to only have Analyst and Senior Analyst, with all Analyst positions requiring at least 2 years of experience. It doesn't seem like this specific group has entry level positions. My current company goes Analyst I, Analyst II, Senior.
The way you frame this for a future interview is you say it was a better company, more money, and a better opportunity. In the meantime, titles are worthless. Take the money and run with the opportunity.
Alright, thank you. I was definitely overthinking how it looked.
Does the new company even have the SFA title? I came across something similar when I made my jump but it turns out that there aren't any Analysts with a "Senior" in their title. I would be more concerned with the responsibilities of the role and not necessarily the title that it carries.
take the raise for certain. generally, the titles are arbitrary and vary from company to company. If you go there and you feel that the skills/position isn't commensurate with the raise you received, you can always leverage it into another position (possibly at the manager level in 12-18 months) for a further incremental salary boost. You can never go wrong with a capital increase :D
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