Very happy at current job; does it still make sense to switch?

DatesExcelModels's picture
Rank: King Kong | 1,113

So I've been working at Corp Strat at a FAANG right now. Pay is solid (90K eur all-in), and I'm working 35-50 hours a week. I should get a bump to 130K all-in within a year, ratings are very strong, I'm learning a lot and I really like my boss.

There are some tech firms that pay 30-40% more - even post bump - but these are less strong names (f.i. Pinterest) with potentially less interesting work. Also I am aware that having a boss you like & being in an environment you like going to work to every day where you are regarded highly by your peers is not something that's guaranteed in another company.

My thought is that I might be able to go to a T2 Tech company in corp strat, take a 40% bump and then switch back into a FAANG a few years later with an accelerated path to a higher level there (and take the money with me).

Am I being fully shortsighted here? Any monkeys out there did something similar? I did banking & worked my way through uni, so I am very aware how nice my life is right now, but that doesn't mean that - in theory - there's something even better out there.

Comments (10)

Most Helpful
Sep 5, 2019

It should like you have this already figured out. If you jump to a T2, you might get more money in the short run (+50k on top of your near term bump to 130k). Seems like a lot for you now. Question you might ask yourself is what does your pay trajectory look like in 5yrs and 10yrs. Probably even 180k might seem very small potato. If so, what does your core job hunting attributes look like (1) Resume (2) core experiences you can talk about in a job interview based on your alternative paths. Lastly what are the career risks? One hand is a boss you know, like, and he/she likes you (ratings are very strong). On the other hand what will your new boss think of you (and not everything is controllable by you so he/she may not like you even if you are great).

Sep 6, 2019

SB'd for the great comment.
That''s fair; I'm not sure if 5 year compensation would be better at a FAANG than a non-FAANG would be higher though, but will do due diligence there.

Seems like the most attractive roles would be head of strategy at a fast growing post series A/B start-up, and I can imagine that there you can leverage the fact that you're making 50-100K a year more better than another 2-3 years of better brand (FAANG v Pinterest).
Would you agree?

Sep 6, 2019

This whole game is gauging opportunity cost with a lot of unknowns, and unforseen variables.... I think the most important thing to do in this situation is actually think about it, soo many people are aimlessly jumping around for salary bumps with no larger goals in mind, figure out a long term goal and stick to the plan. Careers can go really far if you just do that,

Kind of off topic but TBH all this whole "millennials just want to be somewhere they feel important" is kind of true especially in the Tech scene, Decide whats important to you short term/long term and get behind something you believe it and see how far it takes you.

FD: I don't work in tech but everyone I know does: some do well, some start their own thing, some hate their lives. All of this is an observation

Sep 9, 2019

Let's say you get a bump in 2020 to the 130kish. You can always apply elsewhere a year later and use that higher offer as a negotiating point to get a further pay bump. My point is if you can go external for a 40% bump but can use that offer to leverage an extra 15-20% out of your current role every X years, is it really worth the risk leaving for what would net to 20-25%?

I.E. a boss you like, who likes you, at a top tech company?

Sep 6, 2019

don't discount the value of a great boss and enjoying what you do and who you work with.

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Sep 9, 2019

Thanks, will ask around a few HHs just to get a sense check in the market, but won't move places.

It's not that easy to be happy, and when you have it, might as well cherish it.

Sep 6, 2019

Probably wouldn't go just for the near-term pay bump. Unless you're trying to change to a fundamentally different role, it sounds like you're in a pretty good spot given: brand name, interesting work, more learning ops, and a good boss. Not always easy to check the box on all 4 of those. Assuming comp structure at your company is pretty fixed, but doesn't hurt to poke around to see if there's any flexibility given the market numbers.

Sep 7, 2019

When you get promoted, will they be hiring for your spot? Are the hours at Corp strategy always this good?

I tried.
Sep 9, 2019

They tend to be good (generally <50 hours a week) also at other tech companies, however I'm more technical than a lot of my peers and better at managing stakeholders & different projects than a lot of my peers.

Basically, I have more leverage than the average person because I'll be one of the very few people even able to execute certain high value projects technically, and I leverage this to say no to a lot of other things to keep my workload under control.

Generally speaking, infinitely better than banking though. I went on holidays for three weeks last year and got praise from my manager that I left my laptop and corp phone on my desk, "because that showed I really had my shit together". 180 degree difference from my experience in banking.

Sep 7, 2019
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