When do you know it's time to go?
I work at a big US bank in NYC in a great coverage group. I love my team, the hours aren't that bad, the pay is pretty much the same as any other bank, I have good flexibility - my group even let me get my MBA part-time at Stern.
I'm pretty satisfied, but now that I'm approaching the end of my MBA program, I feel some pressure to do something with it. My current job will give me a pay bump, but I feel like I can be much more ambitious.
I live a comfortable life now, but I know my Hamptons beach house isn't going to buy itself, my future kids' school tuition isn't going to pay for itself, my NYC penthouse isn't going to buy itself..
So even though I am pretty satisfied with my current situation, I know I could be earning much more. I'm just afraid that by being too ambitious I would be giving up the comfy situation I have now, but I don't want to feel so comfortable that I don't live up to my full potential.
What's a good way to gauge if it's a good time to move on? Should I just keep my eye out for better opportunities? I am in no rush but don't know how long I should wait.
How risk-adverse are you?
If it doesn't pan out, will you regret not staying in your banking job? If you stay in banking, will you regret not trying to reach your greater potential?
What particular opportunities are you looking out for? An extremely minuscule number of jobs allow for multiple expensive homes at these price unless you were an early employee at these well established funds and companies, especially if you don't want to tie yourself down with golden handcuffs and forego wealth creation
Much more junior than you, but I’d stay put. You’re in a sustainable position as an associate and that’s a lot to be thankful for. I’d climb my way to senior there and then shop around - all the money is at the top and the poster above suggested joining something at an early stage and ride the wave up - sounds like a good plan once you’re established as a senior. As for the Stern MBA, my biggest fear would be letting that network get stale - probably do the legwork of staying in touch with others in your cohort / senior alumni too. Once you hit a senior level, I feel like you can chase the additional prestige and pay, rather than risking the burn-out. Thats my two cents, but I’m just being even more risk averse than usual since you seem satisfied and that’s not a very common thing in high finance at the junior level if we’re being honest
The first step to knowing is interviewing. Start talking to some companies and recruiters. “Should I take offer X over my current job” is a much more tangible question to answer.
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