Thread List
First Page Previous Page Page 79 / 305 Next Page Last Page
Subject#Latest
1 16.09.11
6 16.09.11
5 15.09.11
3 15.09.11
1 15.09.11
1 15.09.11
5 15.09.11
1 15.09.11
4 14.09.11
16 13.09.11
1 13.09.11
1 13.09.11
1 12.09.11
23 11.09.11
4 10.09.11
15 09.09.11
7 09.09.11
6 09.09.11
3 09.09.11
1 09.09.11
1 08.09.11
12 08.09.11
1 08.09.11
4 07.09.11
1 07.09.11
5 06.09.11
2 06.09.11
2 06.09.11
1 06.09.11
6 05.09.11
1 05.09.11
2 05.09.11
1 04.09.11
2 02.09.11
1 02.09.11
8 01.09.11
2 01.09.11
3 01.09.11
2 01.09.11
1 31.08.11
6 31.08.11
5 30.08.11
2 30.08.11
4 30.08.11
1 30.08.11
1 29.08.11
5 28.08.11
6 28.08.11
1 27.08.11
6 27.08.11
First Page Previous Page Page 79 / 305 Next Page Last Page

Urgent - Need advice regarding job switch

 
#1 Urgent - Need advice regarding job switch
08/09/2011 13:31

momentary_lapse

Hi All,

I'm currently working as a Senior Consultant at a small but growing IT consultancy. I've been there a year and it's been pretty good so far - I have been identified to be among the top consultants of the firm and been given corresponding raises and bonus etc. Salary seems good given I have 9 years of work ex (70k + bonus + benefits) - of this 2 years are consulting experience. My gripes with this job are slow career growth, less value add to myself, low autonomy and independence and low leadership abilities. I might not be promoted to the next level next year. To the other points - in an engagement, the manager looks after day to day relationship management and communication and the work is very directive -For ex. the manager will tell me what he/she thinks should be done and I will create a model, a powerpoint etc and then he/she will walk through it with the client.

In light of this, I have been looking at moving to a bigger brand name where I might be able to progress quickly up the career ladder. I have an offer from a Big 4 firm in their IT Due Diligence team - the work seems good and the partner said that I would be fast tracked to manager next year. The salary is lower than my current one (60k), but higher than other consultants at my level there and the growth prospects seem better. Plus its a chance to get involved in transactions and long-term there is the opportunity to exit to PE firms, corporate strategy team.

I would like to get people's thoughts on what is a more attractive option for the long-term? Please feel free to share your thoughts.

THanks a lot in advance!

Reply  Quote   
 
#2 RE: Urgent - Need advice regarding job switch
10/09/2011 10:47

nw2 to momentary_lapse (#1)

Just thinking a little more about the offer:

- I'd be surprised if you had more autonomy at a Big4 sub-manager level

- How sure are you of that fast-track promo? Can they give examples of other people where this has actually converted (presuming thay won't commit this part of the offer to paper). Any chance you could go to manager now rather than later?

- Very sceptical about the chances of moving to PE or Strategy off the back of IT due diligence. Again, what more info can you find on this?

- That's quite a big paycut (maybe up to £20k after bonus?)

- Big4 on the CV is always helpful for the long term (although of course depends what your long term goals are..)

As regards your current company:

- Sounds like if you stick it out until you're promoted you'll be in the manager slot and in a completely different game, so that may address any role quality concerns

- In which case maybe the timing of your promo is really the main/only issue? When is the next round?

Difficult to say, but I think I'd stick it out until the manager promo is resolved one way or the other and then look again. However, if you think that, even at manager level, you'd be unsatisfied at your current company, maybe it's time for a change now.

Reply  Quote   
 
#3 RE: Urgent - Need advice regarding job switch
11/09/2011 20:10

momentary_lapse to nw2 (#2)

Hi,

Thanks for your reply. Appreciate the insight.

About the fast-track promo, I've spoken to people (managers in other practices and this one within EY) and they say it's very possible that I could be fast-tracked. There is enough time for me in the year for this to happen. Of course as long as I don't screw up :)

About the move to PE, again, I've spoken to people who say this does happen (you have to be really good and have to network with clients) - so it's possible.

The pay cut is big but I'm thinking its worth it - my long-term goal is to move into a more finance oriented role (maybe within the M&A team at the big 4 or a PE firm etc) and I'm hoping this takes me one step closer. Moreover the Big 4 allows me to move to other teams if I can convince them to take me (again I've chatted with many people and they believe its possible)

I think the brand name is probably something I can leverage later and maybe move to a smaller firm at a more senior level.

Wrt current firm, I'm thinking of the long-term potential - I don't think I will make it to a partner level here and if that isn't happening is it worth staying on?

Any advice, thoughts are appreciated. Thanks!

Reply  Quote   
 
#4 RE: Urgent - Need advice regarding job switch
14/09/2011 21:32

nw2 to momentary_lapse (#3)

If you don't think there's much potential at your current firm, even if you make it to manager level, then you'd really only be staying on there until you picked up a better external offer. Would you be prepared to gamble and stick it out a little longer in the hope that something better comes along?

Assuming not (for the sake of argument), after your second post I would be inclined to suggest you take the offer. It's a shame about the money, but this is, obviously, not the be-all and end-all. Of course if you do secure the promotion this will only be a short-term concern and in the meantime you'll be moving forward in other ways.

Regarding your longer-term aspirations, you must be near/ just over 30, so time isn't on your side. This move would arguably take you closer to M&A/PE, but you would still be a long way off (the others that transferred into this area from ITDD, were they ACAs rather than IT specialists?). If you really want to make such a move, perhaps it may be worth considering an MBA instead (in the expectation that this would provide you with significantly more opportunity to jump into a new area).

Reply  Quote   
 
#5 RE: Urgent - Need advice regarding job switch
15/09/2011 18:26

momentary_lapse to nw2 (#4)

Nw2,

Thanks for your insight. Very helpful.

The thing is, I'm not even sure I would make the next level at my current firm next year. Given that, I think it's best to move as I know that people at the Big 4 in ITDD do get promoted very fast. These practices seem to be growing very very rapidly. I think having the name on my CV is worth it in the long term.

I am 32 so yes, time isn't on my side. And I also have an MBA from a decent school (think Oxbridge, Cranfield, ESADE, HEC, etc.) but I haven't seen many of my colleagues make this sort of a switch. It's been a torrid 2 years. Many of the people I will work with in ITDD are MBAs (not from my type of school but another level down). Good point about people who made the switch - I'll check that out but I'm pretty sure they were IT specialists. Im thinking short term - go for the ITDD and get to manager (1-2 years), mid-term move to Commercial DD or Financial DD within the same firm (3-4) and long term switch over to PE or the M&A advisory within the Big 4. I feel that as long as I perform well and stay at the same firm, network like crazy and be prepared to show that I am ready to keep learning and working hard, its doable.

Hopefully this makes sense?

Reply  Quote   

Top of Page

ThreadID: 74879

Advertise
Your Jobs!