Change of employer... Yay or Nay?

[SteveNaive]

Hey all, thanks for reading...

 

I am currently facing the decision whether I should change my employer and hope to find some insight. The backstory:

 

I am 40 and work in an advisory business, ten years with my current employer. I have been reasonably successfully and have risen through the ranks which comes with its perks (mostly money, though). However, in a recent career development meeting, I was told that my next promotion would be deferred in favour of a colleague. This now puts me on at least another three year track before I could be promoted, if at all. After a "false start" early on in my career (I wasted two years at a bad firm, but caught a lucky break with my current employer), I am already senior to most my colleagues. Most staff my age is already in supervisory positions. This additional deferral will put me on a level with colleagues three years junior. Plus, the promoted colleague will become my co-supervisor and let's just say we don't get along too great.

 

Due to this, I have since looked around the market (including talking to headhunters and former colleagues), but there seems to be not much of an opportunity right now. Just now, though, I received an offer from a similar, but substantially smaller outlet that would promote me within one year of me joining. However, the salary, while still comfortable, will be substantially less (approx. 35 %) than currently.

 

I have been pondering back and forth, and while I see the opportunity that the new place is offering, I am also afraid that leaving my current employer now might be the wrong move. If I were to find that the new employer is not what I am hoping for, I will have a sginificantly worse position in finding a new job at a higher paying firm... And I kind of do not want to accept that I have alreade "peaked".

 

Thanks again for reading. I appreciate all thoughts and insights on the issue.

 

Best,

SN

[Batya33]

It's a tough one but what I would do is stick it out three more years and see what happens. I would take the paycut only if it was for the government or nonprofit so that if it didn't work out you could explain why you took the salary cut and are entitled to a higher salary. Good luck!

[melancholy123]

I think I'd stay with the current firm mainly because of the money difference, but keep looking for a new job.

[DancingFool]

Stay in your current job and keep looking for a better opportunity to move up. Emphasis on move up. I wouldn't recommend taking that kind of a pay cut because that will affect you for years. Also, a vague promise of advancement in the future is not good enough.

 

If you are going to change jobs, do it for concrete reasons - actual better pay or actual higher position you are moving into directly. Do not change jobs for future promises, especially when it includes a serious financial downgrade. The promise may never materialize for whatever reasons. There is also a risk with small companies in that they might not grow, become financially strapped, or close down completely. The significantly lesser salary amount is telling that it's all they can afford....so beware....

[Rose Mosse]

The person on the way to becoming your co-supervisor - I'm curious why you don't get along? You may be in fight/flight mode and overrun by emotions at the moment(not thinking clearly). Slow down. I'd consider staying at least a year and growing/testing that coworker relationship. You may learn a thing or two about management or working with others.

 

The company may feel you're not ready to move up a level because you have a history of not getting along with your peers or are difficult to manage/work with (need to have your way all the time). I don't know your situation. Just think it through a bit more.

[abitbroken]

You have risen through the ranks and didn't get ONE promotion you wanted - but got all the others. Don't be reactionary. Find common ground or what the coworker's strengths are