I am getting an offer from a well-known investment manager, working in the institutional sales and client servicing dept. I knew i would love the job. I am currently doing the same work for a smaller firm. The work enviroment is awesome, I am literally having a stres-free life. The only thing that bothers me is my boss, she is the unsecured-type who doesn’t want to untilize my skills and knowledge as if I were the biggest threat to her own job. She is a partner of the company so there is no way I could be more important than her in my CEO’s eyes. Also, I am not sure about the future of my current firm either. It is too small to wade through this prolonged crisis. I knew that I would eventually move but I am not sure if I should do it now as markets are so unsettled. From what I heard, the firm that offered me did layoff in 2009 but very minimal number of people was affected. The worse secenerio for me is to be laid off after I move, but If I miss this opportunity, I might have to wait for another 1 or 2 years. Any thoughts from you guys are much appereciated
Sounds like you don’t have a stress free life. Your boss. The firm. I’d move and try and get some guarantees in terms of layoff payouts to minimize the downside (just a clause really).
Dude_CFA Wrote: ------------------------------------------------------- > Sounds like you don’t have a stress free life. > Your boss. The firm. I’d move and try and get some > guarantees in terms of layoff payouts to minimize > the downside (just a clause really). +1. Risk of being laid off is absolutely part and parcel of working in the financial markets, fitrangnn. Best you can do is try to get some guarantees around your joining as far as pay/bonus/payouts if there are layoff, etc. Make sure your personal finances are in order as well - if you don’t have quite a few months emergency cash laying around, that will affect your ability to make moves like this as well. I’d say provided your personal finances are in order and especially if you can get some kind of clarification/guarantees from new firm, then make the move.
Well, if you want to make such a move eventually, then now is as good a time as any. Who knows when the next such opportunity will appear?
Switch
There is no risk free job in this industry, especially these days – pick your poison. You can work somewhere secure but where you are underperforming your peers on a relative basis due to lack of opportunities (crazy boss), or you can take a riskier role with the possibility of getting laid off or fired due to performance. If career advancement is more important to you, I would take the risk. If security is more important, then stay.
It depends on a lot of variables. Are you single or married? Do you have kids? Do you have enough savings for raining day or are you barely covering your obligations month to month? If you’re single and a recent college graduate, I’d say make the move and switch. If you’re married and your wife is a stay-at-home wife/mom with kids, then that’s a totally different ball game. I’d say stay put cuz…, like it or not the job market is brutal right now and you don’t want to move from a stable situation to an unstable one. A buddy of mine moved from his stable position with a pretty big asset mgmt firm to another firm getting paid more than double his previous salary…, then he got laid off 2-3 months after moving. Luckily dude is single and had enough savings…, cuz it took him more than 6 months before he got another job.