Career Perspective

Question

Hello everyone! I'm looking for some opinions regarding my situation, I'm a currently the CIO of a really small asset management firm.I've been offered a managing position in a big bank, the new position would allow me to develop myself in a great institution, however, it would mean putting some distance between the asset management area, which is what I like the most and my current career path.Also, the pay in the new position is considerably less than what I'm making right now.What would you do in my position?Thanks in advance!Best Regards, RV

justing · Answer

CFO in a startup here.Honestly, from what I can see, it does not seem like a great move to me. A lot of this would depend on your personal circumstances as well (e.g. single/married/kids, age, risk appetite). But here are the cons as I see them.It's moving away from an area you're interested inLess (immediate) moneyIMO career path will be slower than if you're in a smaller firm. Mid-management in a large firm is the worstSince you're already CIO, to further your career I would either try and grow the company or join a growing company (you could get less pay but get equity). If you join a large bank in my experience the career doesn't go anywhere exciting.

Sophie Macon · Answer

@robertovm28 - any reason why you are interested in this role offered at all? Seems like there must be some pros that made you considered it. Also, I'm surprised that a managing position in a big institution's pay package is considerably less than your current CIO package - perhaps there is room for negotiation here (especially if you're less interested). Would that change the game though?Seems like more info is needed. For example, is there an Asset Mgmt arm in the bank that you're hoping to eventually switch to and be CIO there? All these can/should be factored into your decision, plus your personal circumstances as @justing highlighted.