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Message
Career Advice Needed - Risk vs Reward
Posted on 12/18/13 at 4:28 pm
Posted on 12/18/13 at 4:28 pm
I'm feeling a little overwhelmed so if I leave anything out, feel free to ask. I'm trying to structure this to be as anonymous as possible while still providing sufficient details for you to give proficient advice.
I was presented with a job offer today that has the potential to turn into something really big. Roughly double the salary plus a small ownership in the company with an opportunity to buy more along the way.
The company has exploded over the past three years. Roughly going from 5M in assets to 150M in assets(company is real estate based). I do contract work for the owners and have a healthy relationship with them. That said, I really don't feel I am qualified for what they are asking me to do (I told them that). I'm afraid if I try and fail, I'll be shite out of luck with nowhere to turn.
Flip side: The company I work with now pays me great. I like the job and LOVE my boss. There is opportunity for advancement but its really a 5-10 year path. They have invested a lot of time and energy into bringing me up to speed and I don't feel like I have repaid them for that investment yet.
I don't want to burn any bridges or be sneaky about this in any way but I am very unclear on what path to take. I've even considered asking my boss for advice ( we are very close).
I'm single with no kids so part of me has the go big or go home mentality while the other part of me tells me I should be content for a while. Not sure I will get another opportunity like this again though.
Would like to hear some of your thoughts and maybe some things I have not considered.
Thanks.
I was presented with a job offer today that has the potential to turn into something really big. Roughly double the salary plus a small ownership in the company with an opportunity to buy more along the way.
The company has exploded over the past three years. Roughly going from 5M in assets to 150M in assets(company is real estate based). I do contract work for the owners and have a healthy relationship with them. That said, I really don't feel I am qualified for what they are asking me to do (I told them that). I'm afraid if I try and fail, I'll be shite out of luck with nowhere to turn.
Flip side: The company I work with now pays me great. I like the job and LOVE my boss. There is opportunity for advancement but its really a 5-10 year path. They have invested a lot of time and energy into bringing me up to speed and I don't feel like I have repaid them for that investment yet.
I don't want to burn any bridges or be sneaky about this in any way but I am very unclear on what path to take. I've even considered asking my boss for advice ( we are very close).
I'm single with no kids so part of me has the go big or go home mentality while the other part of me tells me I should be content for a while. Not sure I will get another opportunity like this again though.
Would like to hear some of your thoughts and maybe some things I have not considered.
Thanks.
This post was edited on 12/18/13 at 4:40 pm
11
Posted on 12/18/13 at 4:43 pm to I Love Bama
quote:Tough to turn that down with so much upside. When you work hard and build relationships, this is what happens; opportunities come your way. It sounds like you're being honest with the offering company about what you think you can do, and they still want you. I think this says something about them and could give you some cushion as you get acclimated.
Roughly double the salary
Is reversing rolls an option? Can you contract for your current job?
Posted on 12/18/13 at 4:47 pm to ell_13
quote:
Is reversing rolls an option? Can you contract for your current job?
I don't think my current job will take me back if things don't work out. Like I said, they have put a lot of time into my development and I would basically be taking advantage of a situation they put me in.
No extra time for any contract work. I'm already putting in 70 hours a week if you count my travel time.
Posted on 12/18/13 at 5:08 pm to I Love Bama
I'
I think this is your answer. You might look back and kick yourself in the arse you did not go for it, and if you are unsuccessful then you don't have a family to worry about yet and you can pick yourself back up. It is good that you can have an open discussion with your boss too and not have to interview in secret. Good luck!
quote:
m single with no kids
I think this is your answer. You might look back and kick yourself in the arse you did not go for it, and if you are unsuccessful then you don't have a family to worry about yet and you can pick yourself back up. It is good that you can have an open discussion with your boss too and not have to interview in secret. Good luck!
Posted on 12/18/13 at 5:08 pm to I Love Bama
quote:
I Love Bama
quote:Nick, is that you??
I'm trying to structure this to be as anonymous as possible...
I was presented with a job offer today that has the potential to turn into something really big. Roughly double the salary
This post was edited on 12/18/13 at 5:11 pm
Posted on 12/18/13 at 5:20 pm to LSURussian
Posted on 12/18/13 at 5:23 pm to LSURussian
quote:
Nick, is that you??
Lol.
As others mentioned, you're in a situation where you can pursue opportunities like this. Once you settle down and have others you are responsible for, your financial risk tolerance goes way down. If you think you are qualified (but maybe just not trained/experienced), and have discussed this with the potential employer, go for it. I would NOT recommend pursuing a risk in something you feel you will ultimately be unsuccessful with. As far as returning, if you are good at your job, and better than other candidates, why would they not be willing to take you back? As long as you don't burn bridges, qualified high level employees aren't easy to find.
Posted on 12/18/13 at 5:23 pm to LSURussian
LOL!!!!
Posted on 12/18/13 at 5:30 pm to I Love Bama
Go for it
Posted on 12/18/13 at 5:50 pm to DrTobiasFünke
Posted on 12/18/13 at 6:08 pm to I Love Bama
As most these guys have said, I'd lean towards going for it. BUT, you should talk to your current boss first before making a final decision. If you are close to him like you say, he will probably empathize with your situation and hopefully give you some perspective on your decision. I'd probably present it to him in much the same way you presented it in the OP including the reasons for and against each decision. That way he knows it's not a decision you're taking lightly and it's not just about the money. I think he'd respect you and your decision more if he doesn't think you took him and his company's training and the opportunity they gave you for granted.
Use that conversation to gauge your advancement opportunities and timelines with his company. He may have bigger plans for you sooner than you think. Or this may get him to start considering how valuable you are to his company and give him a chance to make a counter-offer. By no means should you ask for a raise, but if he values you enough and doesn't want to lose you, he may try to sweeten the deal he can offer you to entice you to stay.
Hopefully he makes you a counter offer that makes your decision even harder!
Use that conversation to gauge your advancement opportunities and timelines with his company. He may have bigger plans for you sooner than you think. Or this may get him to start considering how valuable you are to his company and give him a chance to make a counter-offer. By no means should you ask for a raise, but if he values you enough and doesn't want to lose you, he may try to sweeten the deal he can offer you to entice you to stay.
Hopefully he makes you a counter offer that makes your decision even harder!
Posted on 12/18/13 at 7:30 pm to That's BS
if your not qualified dont do it. man up tell them that and see where it goes.
Posted on 12/18/13 at 8:00 pm to brbowhunter
quote:Not only would I not trust your advice because of this...
if your not qualified dont do it
quote:but you obviously have reading comprehension issues as well.
man up tell them that and see where it goes.
This post was edited on 12/18/13 at 8:01 pm
Posted on 12/18/13 at 8:00 pm to I Love Bama
This might be a good time to reflect on what you want out of life and your career.
Envision what you want to be doing 10 years from now. Do you even have a feel for that yet? If you know what you are trying to position yourself to do long-term, which job puts you on a better path to getting there?
Is the new opportunity just a financial opportunity, or will it open other doors that you would like to pursue?
Maybe it doesn't make much of a difference, in which case maybe you go for the money and make the most of it. Leave graciously, though.
Envision what you want to be doing 10 years from now. Do you even have a feel for that yet? If you know what you are trying to position yourself to do long-term, which job puts you on a better path to getting there?
Is the new opportunity just a financial opportunity, or will it open other doors that you would like to pursue?
Maybe it doesn't make much of a difference, in which case maybe you go for the money and make the most of it. Leave graciously, though.
Posted on 12/18/13 at 8:08 pm to I Love Bama
You sound like a good guy. I wish there were more people in the world that were thoughtful like this.
Honestly if you really have doubts about the new co I would stay where you are. JMO
Honestly if you really have doubts about the new co I would stay where you are. JMO
Posted on 12/18/13 at 8:32 pm to That's BS
quote:
you should talk to your current boss first before making a final decision. If you are close to him like you say, he will probably empathize with your situation and hopefully give you some perspective on your decision. I'd probably present it to him in much the same way you presented it in the OP including the reasons for and against each decision.
I tend to agree. If your boss takes the request for advice poorly he may not be someone you want to build your career with anyway. A solid manager respects his team and realizes there are other opportunities out there.
Posted on 12/18/13 at 8:51 pm to I Love Bama
quote:
The company has exploded over the past three years. Roughly going from 5M in assets to 150M in assets(company is real estate based). I do contract work for the owners and have a healthy relationship with them. That said, I really don't feel I am qualified for what they are asking me to do (I told them that). I'm afraid if I try and fail, I'll be shite out of luck with nowhere to turn.
really dont see a risk. you are young if it doesnt work out (chances are it will) there will always be other jobs.
quote:
That said, I really don't feel I am qualified for what they are asking me to do
no one is qualified for a job off the bat, thats why there is a learning curve. no brainer bro go big or go home
Posted on 12/18/13 at 8:56 pm to foshizzle
I hate to be so cynical but if it was in your companies best interest to fire you, they would. You really have to look out for yourself as long as you aren't doing it at the expense of others. Yes they trained you but this is what happens in life. Take the opportunity.
Posted on 12/18/13 at 9:17 pm to I Love Bama
Take it. If you get fired after a year, you'll still have a year's worth of your old salary saved. That's MB 101.
Fake it til ya make it.
Fake it til ya make it.
Posted on 12/18/13 at 9:21 pm to I Love Bama
I would take the opportunity. I am of the mindset you don't get opportunities like this often and you need to take them when presented if you want to truly reach your goals career wise.
As far as the qualifications, how much will you be eased into your role and how lenient is the role to mistakes? I recently took on a new role with a company growing very quickly and I know they have a tendency to throw you straight into the fire which would be tough if you don't feel up to speed.
Go with your gut. Deep down you should feel comfortable taking it and if you take it you can't look back. If you don't take it you can't dwell on it
As far as the qualifications, how much will you be eased into your role and how lenient is the role to mistakes? I recently took on a new role with a company growing very quickly and I know they have a tendency to throw you straight into the fire which would be tough if you don't feel up to speed.
Go with your gut. Deep down you should feel comfortable taking it and if you take it you can't look back. If you don't take it you can't dwell on it
This post was edited on 12/18/13 at 9:22 pm
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