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Next career move dilemma

 
#1 Next career move dilemma
14/11/2017 14:03

joelawerence

Hi guys, I am a Senior Consultant in a Big 4 consulting firm earning around 58k looking to make my next career move. I have around 7 years experience in industry and consulting. I potentially have 3 offers to choose from, it would be great if you can provide your suggestions.

One is an Associate level Project Manager role at a Tier 1 IB firm in their Regulatory and Operations team. Second is a Senior Consultant role at a boutique consulting firm which is growing fast now and works mainly on Regulatory projects with Investment banking firms. The PM role in industry offers less salary (around 65k) but has the perks of having a Tier 1 firm in my CV. The boutique consulting firm pays more salary (around 80k) but will be at the same level I am currently at - Senior Consultant.

There is one more complication in that I will have final stage interview with another Big 4 for a Manager role which will probably pay around 70k. The offer may take a while to get confirmed though.

Please let me know your suggestions guys, as to which you think would be a better career move. Also if I accept offer from one of the current offers, will I have to forfeit the other Big 4 application, as it will take a while for the offer to come in.

Thanks in advance guys!

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#2 RE: Next career move dilemma
14/11/2017 20:37

cloudnumbernine4u to joelawerence (#1)

From 58K to 80K is a very good jump. You will take ages to reach that once you accept that 65K (not worth at all to jump ship from consulting to industry on that salary). The manager offer at Big-4 should pay you much more than 70K (in total including bonus, car allowance etc).

So your choices are - 1. 80K offer (which is in hand) and 2. Manager at Big-4 (which may not come, I have seen many times, offers not given for months sighting numerous reasons)

So if you have been told by the Big-4 that they are definitely making you an offer, you can tell them to confirm soon as you need to make a career choice. If they have not told you yet about making you an offer, then there is no point. Take the offer of 80K. You can anyways work for that consultancy for a year or two to see if you like it, or you can leave and get more salary than 80K anywhere else.

Dont think too much, 80K tells the next employer that you were worth 80K at least for someone else, so you will not go lower than that.

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#3 RE: Next career move dilemma
15/11/2017 09:37

joelawerence to cloudnumbernine4u (#2)

From 58K to 80K is a very good jump. You will take ages to reach that once you accept that 65K (not worth at all to jump ship from consulting to industry on that salary). The manager offer at Big-4 should pay you much more than 70K (in total including bonus, car allowance etc).

So your choices are - 1. 80K offer (which is in hand) and 2. Manager at Big-4 (which may not come, I have seen many times, offers not given for months sighting numerous reasons)

So if you have been told by the Big-4 that they are definitely making you an offer, you can tell them to confirm soon as you need to make a career choice. If they have not told you yet about making you an offer, then there is no point. Take the offer of 80K. You can anyways work for that consultancy for a year or two to see if you like it, or you can leave and get more salary than 80K anywhere else.

Dont think too much, 80K tells the next employer that you were worth 80K at least for someone else, so you will not go lower than that.

Thanks a lot for your input.

I am also tempted towards higher salary, but just a bit sceptical about moving to a very small boutique firm after working only in big firms till now in my career. Also hypothetically if I accept my offer at the boutique firm and before joining them the Big 4 offer comes through - how difficult will it be from an ethics and legal point of view to reject the boutique firm offer?

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#4 RE: Next career move dilemma
15/11/2017 10:07

marsday to joelawerence (#1)

Hi guys, I am a Senior Consultant in a Big 4 consulting firm earning around 58k looking to make my next career move. I have around 7 years experience in industry and consulting. I potentially have 3 offers to choose from, it would be great if you can provide your suggestions.

One is an Associate level Project Manager role at a Tier 1 IB firm in their Regulatory and Operations team. Second is a Senior Consultant role at a boutique consulting firm which is growing fast now and works mainly on Regulatory projects with Investment banking firms. The PM role in industry offers less salary (around 65k) but has the perks of having a Tier 1 firm in my CV. The boutique consulting firm pays more salary (around 80k) but will be at the same level I am currently at - Senior Consultant.

There is one more complication in that I will have final stage interview with another Big 4 for a Manager role which will probably pay around 70k. The offer may take a while to get confirmed though.

Please let me know your suggestions guys, as to which you think would be a better career move. Also if I accept offer from one of the current offers, will I have to forfeit the other Big 4 application, as it will take a while for the offer to come in.

Thanks in advance guys!

Regulatory roles are a very level field - the size of brand on your CV means a lot less than the programmes you worked on, so a move to a boutique loses you nothing over a Big 4 (might actually gain something i.e. seen to be a specialist able to survive and operate outside the Big 4 environment). If it is the impression of a lack of progression (SC at Big 4 to SC at boutique) which is the concern, tell them and ask for a bigger job title on the same money.

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#5 RE: Next career move dilemma
15/11/2017 16:54

joelawerence to marsday (#4)

Hi guys, I am a Senior Consultant in a Big 4 consulting firm earning around 58k looking to make my next career move. I have around 7 years experience in industry and consulting. I potentially have 3 offers to choose from, it would be great if you can provide your suggestions.

One is an Associate level Project Manager role at a Tier 1 IB firm in their Regulatory and Operations team. Second is a Senior Consultant role at a boutique consulting firm which is growing fast now and works mainly on Regulatory projects with Investment banking firms. The PM role in industry offers less salary (around 65k) but has the perks of having a Tier 1 firm in my CV. The boutique consulting firm pays more salary (around 80k) but will be at the same level I am currently at - Senior Consultant.

There is one more complication in that I will have final stage interview with another Big 4 for a Manager role which will probably pay around 70k. The offer may take a while to get confirmed though.

Please let me know your suggestions guys, as to which you think would be a better career move. Also if I accept offer from one of the current offers, will I have to forfeit the other Big 4 application, as it will take a while for the offer to come in.

Thanks in advance guys!

Regulatory roles are a very level field - the size of brand on your CV means a lot less than the programmes you worked on, so a move to a boutique loses you nothing over a Big 4 (might actually gain something i.e. seen to be a specialist able to survive and operate outside the Big 4 environment). If it is the impression of a lack of progression (SC at Big 4 to SC at boutique) which is the concern, tell them and ask for a bigger job title on the same money.

Thanks for your input Marsday.

Hypothetically if I accept my offer at the boutique firm and before joining them the Big 4 offer comes through - how difficult will it be from an ethics and legal point of view to reject the boutique firm offer?

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#6 RE: Next career move dilemma
15/11/2017 22:14

london_consultant to joelawerence (#5)

youll burn some bridges but that'll be it

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#7 RE: Next career move dilemma
16/11/2017 01:10

LetsGetDigitalDigital to london_consultant (#6)

youll burn some bridges but that'll be it

This.

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#8 RE: Next career move dilemma
16/11/2017 17:12

joelawerence to london_consultant (#6)

Thanks for all the input, guys! Much appreciated :)

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