Should I stay or should I go...

Hello everyone,

thank you for taking the time to read this. Due to recent developments in my workplace, I am currently pondering about my career options, more specifically as to whether I should stay put where I am or whether I should leave in favour of a new opportunity that has just opened up to me...

I am currently employed by an advisory firm and have been in there for about 10 years now. I enjoy work there a lot and I am blessed with a great team with alot of people that I really do get along with. The work is enjoyable, too, and the pay is more then decent. Now for the BUT: Very recently, a collegue and I both were up for promotion. We both are similiarly experienced and and have been there for about the same time (collegaue joined few months after I did), but do very differnet work on a daily basis. Long story short, last week I was informed that there only would be one spot for a promotion this year and he was chosen by management as they felt his projects offered more chances for development. While my work was acknowledged, I was told to wait for my turn until next year and was offered a (quite significant) bonus if I do not leave until then.

Notwithstanding, I was disappointed I did not make it after what I felt was a good year and got in touch with some former collegues from other firms and one of them got me in touch with their management. They seemed really interested, asked for my resumee, scheduled an interview and, as of yesterday, offered my a job for the "promoted" position that I was hoping to get (but was denied) at my current employer. BUT: Their team is substantially smaller than the one I am currently working with and I would have to leave some of the large projects behind as I will not be able to take them with. Moreover, the salary I was offered while still competitive is about 20% lower than what I currently make.

Now, I am really insecure about what to do: While I see the chance to develop my work with a smaller team and play a more important role as one of their senior employees, I am put off by the uncertainty of earning less and not knowing whether the opportunities they are selling will really open up for me...

So, what I really want to know: Should I stay or should I go?

Thanks for reading and for any insights on this...

Isn't there a third option of staying for now while looking for the position you want that pays more? Why would you take a "promotion" that pays less? It's not a good idea.

Stay at your current job and keep looking til you find a job that is ideal. These aren't the only two places in the world to work.

Do you feel that your current employer is playing you? Are you thinking you won't get a bonus or a promotion next year?

Well, it is really hard to say whether it will work next year... It's not that someone would go and promise me that. But I guess if I stayed I would get a bonus (at least that is likely given the near term and one of my supervisors is eager to keep me on his team). I am just not sure whether I am wasting time in the long run if I stay around and have to chase other employers again in a year's time...

Speaking only for myself, there is no WAY I'd trade all the good things you've listed about your job for an unknown and lower pay.

Even if the pay were higher, the things you've listed are critical to me, and no other job can guarantee them. Those are not things I'd trade for a better title.

I'd self motivate in the job I love while putting my feelers out for occasional interviews to learn where my background places me in the current market. Jumping to first offer for less money could turn out regrettable--and then what have you got? A 20% pay decrease with no more of a guarantee of anything than you've got now.

Create some private carrots to shoot for to keep yourself striving and learning, and don't create a pressure cooker that positions you miserable when you have so much to appreciate.

Head high.

I agree with catfeeder. You have a really great job in a great environment right where you are. Anyone would've been disappointed about not getting the promotion, but it doesn't sound like a dead end to me. It sounds like more time and possibly a different, more visible focus is needed.

I would have some planned meetings with your mgmt to discuss what you specifically need to accomplish to earn a promotion next year.

I agree with catfeeder. You have a really great job in a great environment right where you are. Anyone would've been disappointed about not getting the promotion, but it doesn't sound like a dead end to me. It sounds like more time and possibly a different, more visible focus is needed.

 

I would have some planned meetings with your mgmt to discuss what you specifically need to accomplish to earn a promotion next year.

Yes! Don't allow your ego to put 10 years of service and all you've accumulated with that into a temper tantrum move.

Thank you all so much for you insights, catfeeder, Hell_On_Heels and iggy! I found your advice incredibly helpful and have made up my mind to stay where I am and build on what I have.

Even if I were to move to another place, I could still try to do better than the offer I received.

Thanks,

Steve