Need guidance around potentially signficant job change
October 1, 2010 10:23 AM Subscribe
Need guidance around a potentially significant job change
So, I am currently considering a job change. Details follow:
I currently work in high finance, and do not find it very rewarding. I have worked here under a year (I started after graduating), but I have quickly realized that the ultimate career path just…doesn't seem very rewarding. As such, I have begun to consider alternatives. I am currently on a 2 year contract (this is standard), with the promise of (very substantial) bonuses after my first and second years.
I am also an engineer by training, and know people working at engineering firms…I am strongly considering trying to find a job with one of them. If I left, it'd probably end up being around month 6.
Pros: Work that (I think!) I would find more reasonable, good pay, MUCH better hours (my hours are 80 a week min, 100+ on a bad week (which thankfully has been rare thus far)), actually using my brain. If I had to move, it'd be to a place with a lower cost of living, so that'd be nice.
Cons: while I_can_ leave, my group would be extremely pissed about it, and I might even have to give back some of my signing bonus (this I need to look into). Further, I'd be giving up a quite large bonus I could make if I stayed on 6 months more. If I have to move, I'd have to convince the new employer to ideally compensate me for my broken lease (this has been done, apparently), and I'd have to move and all that. Both areas are nice, although I like my current city more than the potential new city. Another con would be that I decide I don't want to be an engineer either (in which case I'm just screwed :P).
A more immediate question: how do I explain away interviews? This isn't the sort of field where you can just take a vacation day and nobody cares…most people in their first year use less than 1/3 of their vacation-- it's generally looked down upon (fun industry, huh?). Hopping out for a couple hours on a weekday isn't impossible, but if I have to fly out of state, that would involve some explaining…how do I manage this?
Thankfully I don't HATE my job. It's just all consuming, not that great, and not really leading me where I realize that I want to go. On the flip side: the pay is incredible, and if all I care about is making tons of money, this job will set me up to make boatloads of cash (but money isn't really my motivator in life).
Any help navigating this situation would be very useful. I'm lucky to be looking for a job while I have a job, but it's daunting trying to manage a process that could be a huge change (finance to tech) and making sure that that is right for me while having to be 100% at an employer that unrepentantly can call me up at any time, more or less, and demand that I come into work. I know some other people have to do that too…but they're called Doctors. I am not saving lives!
If anyone wants more details, throwaway email here:
justanotherbanker@gmail.com
So, I am currently considering a job change. Details follow:
I currently work in high finance, and do not find it very rewarding. I have worked here under a year (I started after graduating), but I have quickly realized that the ultimate career path just…doesn't seem very rewarding. As such, I have begun to consider alternatives. I am currently on a 2 year contract (this is standard), with the promise of (very substantial) bonuses after my first and second years.
I am also an engineer by training, and know people working at engineering firms…I am strongly considering trying to find a job with one of them. If I left, it'd probably end up being around month 6.
Pros: Work that (I think!) I would find more reasonable, good pay, MUCH better hours (my hours are 80 a week min, 100+ on a bad week (which thankfully has been rare thus far)), actually using my brain. If I had to move, it'd be to a place with a lower cost of living, so that'd be nice.
Cons: while I_can_ leave, my group would be extremely pissed about it, and I might even have to give back some of my signing bonus (this I need to look into). Further, I'd be giving up a quite large bonus I could make if I stayed on 6 months more. If I have to move, I'd have to convince the new employer to ideally compensate me for my broken lease (this has been done, apparently), and I'd have to move and all that. Both areas are nice, although I like my current city more than the potential new city. Another con would be that I decide I don't want to be an engineer either (in which case I'm just screwed :P).
A more immediate question: how do I explain away interviews? This isn't the sort of field where you can just take a vacation day and nobody cares…most people in their first year use less than 1/3 of their vacation-- it's generally looked down upon (fun industry, huh?). Hopping out for a couple hours on a weekday isn't impossible, but if I have to fly out of state, that would involve some explaining…how do I manage this?
Thankfully I don't HATE my job. It's just all consuming, not that great, and not really leading me where I realize that I want to go. On the flip side: the pay is incredible, and if all I care about is making tons of money, this job will set me up to make boatloads of cash (but money isn't really my motivator in life).
Any help navigating this situation would be very useful. I'm lucky to be looking for a job while I have a job, but it's daunting trying to manage a process that could be a huge change (finance to tech) and making sure that that is right for me while having to be 100% at an employer that unrepentantly can call me up at any time, more or less, and demand that I come into work. I know some other people have to do that too…but they're called Doctors. I am not saving lives!
If anyone wants more details, throwaway email here:
justanotherbanker@gmail.com
Every Banker goes through this. It isn't unreasonable. Wait until you get your bonus, then make a decision - remember how miserable you are now though when you make your decision (otherwise you are just going to be excited about the money)
I would ask yourself how is this different then what I expected, and where did you hope that it would lead - and if those things are still reasonable.
Yes it sucks, yes you are miserable. For some people it ends up being worth it, for others not. There is no shame in bailing on it.
Interviews - just tell a lie - if you are leaving WTF do you care if some jackass Associate or VP is pissed off. You won't be around next bonus time anyway.
posted by JPD at 11:20 AM on October 1, 2010
I would ask yourself how is this different then what I expected, and where did you hope that it would lead - and if those things are still reasonable.
Yes it sucks, yes you are miserable. For some people it ends up being worth it, for others not. There is no shame in bailing on it.
Interviews - just tell a lie - if you are leaving WTF do you care if some jackass Associate or VP is pissed off. You won't be around next bonus time anyway.
posted by JPD at 11:20 AM on October 1, 2010
Another con would be that I decide I don't want to be an engineer either
Thankfully I don't HATE my job
It sounds that you are neither sure that you'd love an engineering job, nor do you so detest your current job so much that bailing immediately is required for the sake of your sanity.
In that case it's probably a good idea to hang in there for a year or two and stash away as much money as you can. Having a tidy sum in the bank will give you a lot more options later.
posted by philipy at 11:48 AM on October 1, 2010
Thankfully I don't HATE my job
It sounds that you are neither sure that you'd love an engineering job, nor do you so detest your current job so much that bailing immediately is required for the sake of your sanity.
In that case it's probably a good idea to hang in there for a year or two and stash away as much money as you can. Having a tidy sum in the bank will give you a lot more options later.
posted by philipy at 11:48 AM on October 1, 2010
Suck it up, finish the contract, and move on. Unless you have an offer in hand that will cover all the money you'll be losing, it'll be far better to 1) leave the existing job on good terms, with 2) a hefty chunk of money in your pocket to 3) insulate you from any turbulence in the switch. Six months is not a long time for a job that's only boring. Think of it as insurance money for if you turn out not to like engineering.
Especially as someone just starting out, you want to have more, rather than less, experience at any job you have, and you especially want to be able to refer future employers back to them for a good reference. When your only significant work experience is a reputable company with black mark on your record, it makes things difficult in the short term.
When your contract is done, it's reasonable to say "this area just isn't for me, but thanks for the experience". If you break your contract, that's a big middle finger on your way out the door that will follow you around for a while.
posted by fatbird at 11:49 AM on October 1, 2010
Especially as someone just starting out, you want to have more, rather than less, experience at any job you have, and you especially want to be able to refer future employers back to them for a good reference. When your only significant work experience is a reputable company with black mark on your record, it makes things difficult in the short term.
When your contract is done, it's reasonable to say "this area just isn't for me, but thanks for the experience". If you break your contract, that's a big middle finger on your way out the door that will follow you around for a while.
posted by fatbird at 11:49 AM on October 1, 2010
A dentist or doctor appointment of some kind where you'll be medicated after is a good excuse.
posted by xammerboy at 11:54 AM on October 1, 2010
posted by xammerboy at 11:54 AM on October 1, 2010
Go on the interview, meet people there, see what's what, and then make your decision. Personally, I think the move may be the right thing to do. I don't think you need to stay at a job for a year or two just to show you can suck it up.
posted by xammerboy at 11:59 AM on October 1, 2010
posted by xammerboy at 11:59 AM on October 1, 2010
I don't think you need to stay at a job for a year or two just to show you can suck it up.
You don't need to, but it's a huge asset on your c.v.
I had a friend I put forward for a job in his early thirties. His c.v. showed a bunch of jobs lasting no more than a year to 18 months. Like you, he felt bored and decided to move on; his problem was that he felt that at every job. When my boss looked at his c.v., he said "why should I hire someone who's going to stay for only a year, when it takes six months to get him up to speed?"
Generally speaking, xammerboy is right. Demonstrating that you can suck it up isn't a recipe for lifelong happiness. But the flip side of the coin is "don't start your resume with a big black mark on it." Ideally, you find a job where you're not sucking it up, and you stay for a while with no effort at all. Demonstrating once or twice that you can suck it up when necessary is big plus.
posted by fatbird at 12:10 PM on October 1, 2010
You don't need to, but it's a huge asset on your c.v.
I had a friend I put forward for a job in his early thirties. His c.v. showed a bunch of jobs lasting no more than a year to 18 months. Like you, he felt bored and decided to move on; his problem was that he felt that at every job. When my boss looked at his c.v., he said "why should I hire someone who's going to stay for only a year, when it takes six months to get him up to speed?"
Generally speaking, xammerboy is right. Demonstrating that you can suck it up isn't a recipe for lifelong happiness. But the flip side of the coin is "don't start your resume with a big black mark on it." Ideally, you find a job where you're not sucking it up, and you stay for a while with no effort at all. Demonstrating once or twice that you can suck it up when necessary is big plus.
posted by fatbird at 12:10 PM on October 1, 2010
I'm an engineer in a firm, got an MSc and worked as a research associate for a year with an engineering department head, then joined up here. Been here about a year.
You are looking at your options in black and white; low-level finance *or* engineering. Perhaps you'd be interested in bridging your engineering and finance backgrounds, ultimately. I've seen that these engineering firms are interested in diverse backgrounds. My boring business admin-type duties from my research experience landed me some business development work alongside one of our global managers, and excellent exposure within the company that's already taking me far.
If you apply to go in as an engineer, odds are great that they'll eventually give you more interesting work than just drawing in AutoCad most days, and you'll advance faster in the company too. Joining an engineering firm later on with the financing experience, you might choose to just go straight into a finance-related side of the engineering business. You could move more quickly into the cost estimate side of things, and even fast-track the management route. They still involve a lot of technical understanding and problem solving, and you get a lot of client interaction too.
Anyway, just saying you can see your current work as a stepping stone rather than a long, narrow corridor.
posted by lizbunny at 1:22 PM on October 1, 2010
You are looking at your options in black and white; low-level finance *or* engineering. Perhaps you'd be interested in bridging your engineering and finance backgrounds, ultimately. I've seen that these engineering firms are interested in diverse backgrounds. My boring business admin-type duties from my research experience landed me some business development work alongside one of our global managers, and excellent exposure within the company that's already taking me far.
If you apply to go in as an engineer, odds are great that they'll eventually give you more interesting work than just drawing in AutoCad most days, and you'll advance faster in the company too. Joining an engineering firm later on with the financing experience, you might choose to just go straight into a finance-related side of the engineering business. You could move more quickly into the cost estimate side of things, and even fast-track the management route. They still involve a lot of technical understanding and problem solving, and you get a lot of client interaction too.
Anyway, just saying you can see your current work as a stepping stone rather than a long, narrow corridor.
posted by lizbunny at 1:22 PM on October 1, 2010
First, all entry level jobs suck, even high paying ones.
Regardless, it's great you figured out early that this job will not be fulfilling for you in the future. As everyone has said, if you can stick it out, having this on your CV will have the potential to open doors for you in your next career.
It's also worth considering this as another opportunity: If you live for as cheap as you can tolerate and bank everything else you make, you can then leave to your "true" job will a big financial cushion. It sounds like you are in your 20's, run the numbers and see what happens if you put 90% of that extra money into your retirement. Leave 10% as a gift to yourself for putting up with the last two years.
As much as you think you will like engineering now, you really don't know where you will be 10 years from now. This extra money may allow you to pursue your low paying but fulfilling future career being a painter, school teacher, bohemian hippie, or whatever the hell else your future holds.
posted by volition at 5:54 PM on October 1, 2010
Regardless, it's great you figured out early that this job will not be fulfilling for you in the future. As everyone has said, if you can stick it out, having this on your CV will have the potential to open doors for you in your next career.
It's also worth considering this as another opportunity: If you live for as cheap as you can tolerate and bank everything else you make, you can then leave to your "true" job will a big financial cushion. It sounds like you are in your 20's, run the numbers and see what happens if you put 90% of that extra money into your retirement. Leave 10% as a gift to yourself for putting up with the last two years.
As much as you think you will like engineering now, you really don't know where you will be 10 years from now. This extra money may allow you to pursue your low paying but fulfilling future career being a painter, school teacher, bohemian hippie, or whatever the hell else your future holds.
posted by volition at 5:54 PM on October 1, 2010
Just as a counter-point to those people saying "hang on until the bonus", my husband worked in finance for a while and hated it so much that when he was offered another (much much lower paying) job a few weeks before his annual bonus was due, he took it and walked out, losing the bonus. He has never regretted it: the extra couple of weeks of happiness instead of misery were worth every cent.
But since you say you don't absolutely hate the job, you might want to think about hanging on.
posted by lollusc at 8:43 PM on October 1, 2010
But since you say you don't absolutely hate the job, you might want to think about hanging on.
posted by lollusc at 8:43 PM on October 1, 2010
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How much school debt do you have? If it's alot, and you can stand to wait 6 months, I'd recommend picking up the year bonus if you know you are guaranteed to get one. If it's not a guarantee, then that's one less thing you have to think about.
You have a job, which is a great thing in this economy. I wouldn't do anything until you have another job offer. As for getting that offer, you say it's not unheard of for taking a vacation, so go ahead and apply for this other job, and go through the process. If they ask for an interview, tell them your situation, as in it would require time off from your current job and a flight/long drive and see if you can do it over the phone. If not, then you have a decision to make, is it worth taking the time off for a new job or not.
80 to 100 hours a week is alot, but you are young, and it's a job (hopefully well paying at that). In interviews, you can always say that your current job is great, but it's not in your field. You took it because it was very interesting, and it was offered to you right out of school. Now that you have been there and know a little bit more of the industry, you have decided you want to go into the field you studied in college- engineering.
posted by TheBones at 11:07 AM on October 1, 2010