Leaving a very safe job for a start up

I have a very safe and steady job. Could make junior PM in 4-5 years and full PM in 6-8. I however am bored out of my mind. Offered job at a new BB energy trading department. I am 2 years of of undergrad and jobs pays about 15k more. Outside of money what are pros/cons of a move like this? My short career has been all in investment management. I can add any info if needed.

energy trading == Enron part 2? :wink:

it is actually physical and not financial

confused, a BB is a startup? or the dept? anyhow that doesn’t seem that risky.

the BB is entering energy trading on the physical site so a new department. They currently trade the financial side in NY. Citi, DB,CS and BS are all lauching or have lauched physcial trading in the past 12 months.

First of all, working for a small company or a start up is a world away from being at a larger company that is highly institutionalized. I did make this jump and now work for a company with 6 employees. I’m very entrepreneurial so getting to be this close to the action and being able to wear many different hats is right up my alley. BUT, this isn’t for everyone so you really need to be honest with yourself and figure out if an opportunity like this meshes with your personality. That all said it seems like a no-brainer to me. You’d have to wait 4-8 years for any advancement at your current company. That’s a long time IF it happens. If you got equity early on in this startup, where could you be in 4-8 years? Being bored at a job is never good, either. Oh, and they’ll pay you more?

just accepted offer. start in 3 weeks.

Congrats! What ultimately swayed your decision?

the idea of change. would of took it for same pay I also rather build culture then live under one

goldenboy09 Wrote: ------------------------------------------------------- > I have a very safe and steady job. Could make > junior PM in 4-5 years and full PM in 6-8. I > however am bored out of my mind. > > Offered job at a new BB energy trading department. > > > I am 2 years of of undergrad and jobs pays about > 15k more. > > Outside of money what are pros/cons of a move like > this? > > My short career has been all in investment > management. > > I can add any info if needed. I think that if you’re bored of your job and see no upward mobility, those are two very good reasons to leave your job for greener pastures.

XSellSide Wrote: ------------------------------------------------------- > First of all, working for a small company or a > start up is a world away from being at a larger > company that is highly institutionalized. I did > make this jump and now work for a company with 6 > employees. I’m very entrepreneurial so getting to > be this close to the action and being able to wear > many different hats is right up my alley. BUT, > this isn’t for everyone so you really need to be > honest with yourself and figure out if an > opportunity like this meshes with your > personality. > Hi XSellSide, can you elaborate more on why you don’t think this is for everyone? Could you elaborate more on the various pro’s and con’s of working at a very small shop (i.e. fewer than 20 people), and what you think the most important things are for one to assess before joining such a firm? Anyone else who has ideas, please contribute as well.

this department has 160 workers

numi Wrote: > Hi XSellSide, can you elaborate more on why you > don’t think this is for everyone? Could you > elaborate more on the various pro’s and con’s of > working at a very small shop (i.e. fewer than 20 > people), and what you think the most important > things are for one to assess before joining such a > firm? Anyone else who has ideas, please contribute > as well. People who have come from big firms find it hard to adjust to a small company because a lot of the things you take for granted at a large firm just don’t exist at a small firm. For example, there was no HR manual when I first joined. “HR” is handled by one of the partners. Some can’t get over the fact that no task is above or below you at a small firm. You are going to be doing a lot of different things and your job can evolve more quickly than at big firms where the positions are very structured and defined. Working at a small firm isn’t for people who need a lot of handholding and direction. Another factor is office politics. If you don’t get along with a co worker, life is going to suck. What to assess: Make sure expectations are set before you accept an offer. Again, you can’t always guarantee exactly what you’ll be doing 6 months down the road, but make sure they know where you are coming from. I think it’s also important to assess the reputation of the company and its owners. You don’t have the big name to put on the resume, so it’s critical to avoid the fly-by-nights. Assess your long term career path. Do you want to own your own firm someday? I do, and I think this will serve as a great launching pad for that someday.

What to assess: Make sure expectations are set before you accept an offer. Again, you can’t always guarantee exactly what you’ll be doing 6 months down the road, but make sure they know where you are coming from. I think it’s also important to assess the reputation of the company and its owners. You don’t have the big name to put on the resume, so it’s critical to avoid the fly-by-nights. Assess your long term career path. Do you want to own your own firm someday? I do, and I think this will serve as a great launching pad for that someday. I dont think this applys to me

Hey goldenboy, does this mean a position is opening up at your firm in PM? What firm if I may ask? I’d like to apply.

rather not say but a large midwest trust I am however in their houston office.

Oh, well I’m in NY, it wouldn’t work for me anyway.