Transitioning Jobs: Moving from MS to JPM
I’m currently employed in the counterparty credit risk department at Morgan Stanley in London, which has been my first full-time position for nearly three years. During my time here, I received a promotion to Associate, but unfortunately, the pay increase and bonus were not substantial this year. This prompted me to explore other job opportunities.
Recently, I received a verbal offer for a role at JPM in the same counterparty credit risk department. This new position entails similar responsibilities as my current job at MS, along with some governance duties. While the salary is 25% higher, I have some reservations as the role appears to focus more on regulatory aspects, which might be a step down from my current position.
I’d appreciate insights from anyone who has faced a similar decision. On a personal note, my current team and manager are fantastic, which makes the thought of leaving feel somewhat like betrayal!
One response
It sounds like you’re at a significant crossroads in your career, and it’s completely normal to feel a mix of excitement and apprehension about making a change. Here are some points to consider as you weigh your options:
Career Progression: Consider how the role at JPM aligns with your long-term career goals. While the pay is higher, think about whether the responsibilities and skills you’ll gain can benefit you in the future. Are you looking to specialize in governance and regulatory aspects, or do you prefer to stay focused on counterparty credit risk?
Company Culture and Environment: Since you mentioned that your current team and manager are supportive and good to work with, consider the impact of leaving that environment. Research the company culture at JPM. A higher salary can be enticing, but a positive work environment goes a long way in job satisfaction.
Job Security and Growth: How do the stability and growth opportunities compare at both companies? If JPM has a strong outlook and potential for further advancement, that may outweigh a potential dip in immediate job satisfaction.
Work-Life Balance: Sometimes a higher salary comes with higher expectations and workload. Consider how this new role might impact your work-life balance compared to your current position at MS.
Your Own Feelings: It’s natural to feel guilty about leaving a team that has supported you. However, your career is ultimately about your growth and aspirations. It’s worth having an honest conversation with your manager if you feel comfortable doing so, as they may provide you with valuable insights or even a counteroffer.
Ultimately, trust your instincts and take into account both the tangible benefits (like pay) and intangible ones (like job satisfaction and team dynamics). Good luck with your decision!