HSBC in Chicago at 145k or Market Risk Director in South America at 120K

I started a Job as a Market Risk Manager in Colombia in January (4 months). Now, I just got offered a VP Mortgage Analytics job at HSBC in Chicago.

I am an American Spanish Speaker of course.

Market Risk Director reports into VP Risk who reports into the CEO.

Makes 120K per year with 30% max bonus.

HSBC VP pays 145k plus some bonus, but unclear the amounts

They also match 401k (about 10k per year)

They also pay for education up 10 40k and i am starting a masters next year.

My family hasn’t moved and are still in the states and the move will cost a pretty penny. HSBC has a good moving package.

What do you think. 120K in South America or 145K+ in Chicago HSBC?

Single = south aamericana tried with kids would be Chicago, primarily based on family.

Id go Chicago - better title but you have to ask where your family would be happier. That’d be the most important thing for me, but I have a wife and kids.

Im with kids so i get what you say. Expensive for a family, especially educating the kids. Kids half way speak Spanish, but we’d have to stick them in a private school.

Going to preface this by saying I love Chicago. I spent a good amount of time working there last year and its an awesome city. That being said I wouldn’t live there. Too effing cold. Also 145k in Chicago is going to cost you a lot in taxes. Illnois has some nasty sales and gas taxes and a nice flat 5% state income tax. Not to mention a virtually bankrupt pension system and state government that is controlled by a bunch of people who probably failed Econ 101. Did I mention its really cold there?

If it was me, I would definitely choose the option that lets the kids grow up in the US. I grew up in an emerging country, and I wish I had the same educational opportunities that US people have - especially when it comes to intangible or interpersonal skills. I’m sure $120k goes a longer way in Colombia than $145k in Chicago, but it’s hard to put a monetary value on your family’s future.

I wouldn’t want to stay in Colombia personally. However if I was thinking about, like you clearly are, I would think of the minimum salary that would make me indifferent between the two and then tell the employer, in not so many words, give it to me or no.

I go to Colombia every month…$120K in Colombia is a really strong salary, I suppose stronger than $145K in Chi (not considering the other factors like education, both what company would pay, but also what you will pay for the private schools as you will certainly want to do that in Colombia, and potential tax issues).

Do you think having the international experience will be helpful down the road, or is your background already filled with that such that this is just more of the same (once you get a few years that may not add much)?

You mentioned market manager then referenced market director, does that mean your current title will change to director?

I agree with the poster above about how the family part should really, really factor into the decision. If your family hasnt moved yet maybe that is because they werent sure?

Seems to me that if your current role is a manager (or is this a director) level and the pay is $120K in Colombia then $145K at a VP level for a company like HSBC doesnt equate to an increase (although a lot could depend on what you would do education wise for the kids, in each place), but then if you are somewhat young in your career taking a better that displays better to the outside world can make sense regardless of the money.

Thanks everyone. I am currently a Gerente de Division of Market Risk for a bank of about 10BB USD assets. I just informed my boss that I am moving back to the States.

Congratulations on your new position and good luck in Chicago.

Good luck in your new position.

Yo I don’t know what that title means but it sounds way more bossy than vp.

You should have demanded the same title, only starting with el generale.

Congrats, and for what it’s worth I think you made the tight decision career wise and more importsntly for your family.

I love Chicago. If it weren’t for the winter and the fact that it’s in Illnois I’d be very interested in living there.

^ Those are not details.

I’d love Cuba if it wasn’t communist.

Not being confrontational but what kind of intangible skills are you talking about because almost all people in emerging countries put their kids in private school, a large majority of which are moving towards a standard education pattern- the IB.

I think i would have taken the 120 in colombia. good options to have though


Si fueras soltero… con 120K… seria super chevere vivir en colombia! Estube de vacaciones en Bogota… y lo pase super lindo.

analisando tu situacion de padre de familia… etc… creo que chicago te conviene mejor… a de mas… el clima en bogota (suponiendo que vives alli) es horrible :slight_smile:

Bueno… suerte!!!

Ojala que algun dia… pueda trabajar en Sur America… con sun sueldazo :wink: