Finance job advice

[OmniscientCause]

I have been working a back office job for just over a year and my manager and her boss would like me to apply for an open spot within my group in the next position up...it wouldn't mean anything as far as change in my job really but it would be a slight pay increase...very slight.

Well that is all well and good but I have a friend who works in fixed income in a different company with a completely different culture and philosophy about how they do things...They have an open spot in his group and I asked him to pass my resume along to his manager.

Here is the issue. I don't want to apply to move up in my group only to leave in a month or so for this other company which pays significantly better and treats their employees much better. If I do this I may screw over my current co-workers which I don't want. But I would have to do what is best for me right?

I am getting ahead of myself because I don't even have an interview at this other place lined up but it is closer to what I want to do and I would't be stuck in back office anymore...I feel like the longer and longer I stay the more stuck I will be and less viable of a candidate I will be for other financial service companies...

sorry for the vague rant but if anyone has any advice about how I should approach the situation I would appreciate it.


Thanks

 

[GreenFrog]

Apply for both. If you get the new position within the same company take it. Continue interviewing with the other firm. If you get an offer, take that and leave.

Always look out for yourself only. Both companies will drop you in a heartbeat if they deem 'necessary'. Don't hesitate to share the same mentality.

 

[OmniscientCause]

The other firm seems like they invest in their employees...if i progress with the cfa i may have the ability to become an analyst which is not possible in my current position.

 

[Ebichuman]



Apply for both. If you get the new position within the same company take it. Continue interviewing with the other firm. If you get an offer, take that and leave.
Always look out for yourself only. Both companies will drop you in a heartbeat if they deem 'necessary'. Don't hesitate to share the same mentality.

That's good advice, OP. Get going on the second opportunity asap, they will likely take longer than your current employer to put you through the wringer but there's a chance you'd time it right and have two offers in front of you. I got lucky recently and managed just that. In terms of total compensation, the difference between the first and second offer was about 25k.

If it doesn't work out and they lined up sequentially, do what GreenFrog says, take first one, then second. Good luck.

 

[GreenFrog]

Yes.. so try to land both gigs..

And in regards to timing.. it doesn't even matter. You could be in your new role in the same company for less than a week and get an offer from the new company.

Just apply for both and try to get whatever you can.

 

[OmniscientCause]

Yea I will apply for both...I mean I don't really want to screw my group over if I land the other job but the difference in compensation will be around 15k after a year.

Rent is half my income right now so I really can't not be taking opportunities when they come to me...I can only hope I get an interview at this other place but my current company has somewhat of a negative connotation associated with it across the industry and far to many good employees get stuck here for lack of available jobs.

 

[Joffrey]

Just to 2nd everyone else. Definitely go for both opportunities. Life is too short not to take chances.

 

[jcb9]

The other firm seems like they invest in their employees...if i progress with the cfa i may have the ability to become an analyst which is not possible in my current position.

Make sure your current firm will sponsor you for your charter. If not you will have to move anyway once you pass the 3rd level of your exams. Most investment banks/hedge funds/PEGs/etc. will sponsor you.

 

[OmniscientCause]

Ha yea they would sponsor me but I would be stuck here for 2 years minimum or I would have to pay them back if I left the bank within those two years...Anyways for now my job has been made easier as my friends firm has no open positions...story of my life really.

The increase in pay at my current job will probably be somewhere around 6-8% which looks good...but 6-8% of nothing doesnt amount to a large increase at all annual.

 

[Hampton]

Just to 2nd everyone else. Definitely go for both opportunities. Life is too short not to take chances.

+ 100

 

[OmniscientCause]

wound up staying where I was...position closed at the other place but my raise was significantly more than I anticipated.