Should I take this promotion?

[75th]

So...here's the deal.


Ive been making shit happen in my career over the past few years, and Ive been presented with the opportunity to move up into a high level management role. In the investment industry, however, management tends to make less than those in sales. Im by no means making thousands of dollars an hour like most other EF members, but if I kept going at this pace for another 2-3 years in my current role I would be making $300k easy through trailers, wrap fees, etc.

Moving up into management, however, would be a bit (aka substantial) of a pay cut and have less upward movement potential. Above me, there would be maybe 10 people around the country...above them, maybe 3 people around the country...above them, the CEO. This is just in our division, obviously (we work only with people who have a certain dollar amount in investible assets). However, I think I may like the work more.

No, money isnt everything, but it does indeed buy a certain degree of happiness...especially when you work in an industry where as the years go by you work less and less yet make more and more money. This would become especially beneficial when my wife decides to shit out some kids.

So, strangers who I have never met in person, please give me your feedback. Has anyone been presented with a similar situation?

 

[needtogetarmy]

I made the decision a while ago to turn down big money offers and decided to teach.

The key is to do what makes you happy. I make very good money but I could be making a ton more but the stress is not worth it (as least at this point in my life).

Being flexible is also critical. When I get tired of this (and I will someday) I have plenty of other opportunities.

What I would recommend is making out a list of all of the pros and cons and weigh them. Whenever I make big decisions I also ask myself where I see myself in one year, three years, 5 years and 10. If shit doesn't go according to plans I then pursue my backup plan. Shit NEVER goes according to my plans lol

In the end happiness is the ultimate goal. If you think taking the new position will bring you happiness (and other benefits) jump on it.

 

[Smurfy]

I think my little bro had a similar conundrum in his career track. He worked in sale for the first years and was making more and more money. then became a sales manager and was making serious bank for a 26 yr old guy ~nearly $300k/yr. ridiculous. Anyway, the better he got at his job and the more he made impressions on the higher ups, the more they wanted him to take the executive track in the company but as you say, that means less in sales commission and more in base salary/other benefits. And it was a hard decision for him but ultimately he knows he has what it takes as well as the drive and ambition to someday be a CEO. So he's now @ Kellogg getting his MBA and now he's a Director of something or other (I think Sales and Marketing) @ Cigna. And I believe he's happy with his decision. I know your industry is different than his but it sounds like a similar situation.

 

[75th]

Thats the thing in this bidness...2-3 years from now when Im making lets say $300k that it without lifting a finger as far as acquiring/servicing new clients. I work with a lot of people who have been in the business 7-8 years and work maybe 20 hours a week yet pull in close to half a mil.

I dont know. I need to buy one of those magic 8 balls or something.

 

[EnderJE]

Yes. Take it.

 

[chazk]

So 75th they want to move you from french fry dipper to burger line..
I say go for it !

 

[javaguru]

I'm going back to school because "working the game" pisses me off. I was raised an idealist and your money situation needs to be put in perspective. If you have kids that need an education and a family to support then it's different...

 

[jack sparrow]

I'd like to comment on this and tell you I'm happy where I am, but I dunno if I'm gonna feel this way in five years.

What would I do? I'd take everything I can, and live it for the dynamics. What have you got to lose?

 

[75th]

I'd like to comment on this and tell you I'm happy where I am, but I dunno if I'm gonna feel this way in five years.

What would I do? I'd take everything I can, and live it for the dynamics. What have you got to lose?

Good call. Its not that this new gig would be "bad" in any sort of way...it would just result in making less money while working just as hard.

 

[75th]

I'm going back to school because "working the game" pisses me off. I was raised an idealist and your money situation needs to be put in perspective. If you have kids that need an education and a family to support then it's different...

As of right now Id only have to support my wife, however thatll probably change within the next 2-3 years (hopefully). Im worried that 3-4 years from now Ill be kicking myself.

Then again, it may be the best decision Ive ever made.

 

[gjohnson5]

75th...

The reason I originally stopped being an employee and switch to consulting was because I was stuck in jobs w/no upward movement and no extra income possibilities. The exception is sales. If you can keep sales going and majorly exceed your quotas why would you want to go into management????

It's easier to manage your own movements then having to manage everyone else. I wish I was good at sales because the idea of proposing 7+ figure sales for businesses sounds like great commission. *sigh*...

Anyway if you got the skills to pay the bills, then stick with sales.
Fuck Management

So...here's the deal.


Ive been making shit happen in my career over the past few years, and Ive been presented with the opportunity to move up into a high level management role. In the investment industry, however, management tends to make less than those in sales. Im by no means making thousands of dollars an hour like most other EF members, but if I kept going at this pace for another 2-3 years in my current role I would be making $300k easy through trailers, wrap fees, etc.

Moving up into management, however, would be a bit (aka substantial) of a pay cut and have less upward movement potential. Above me, there would be maybe 10 people around the country...above them, maybe 3 people around the country...above them, the CEO. This is just in our division, obviously (we work only with people who have a certain dollar amount in investible assets). However, I think I may like the work more.

No, money isnt everything, but it does indeed buy a certain degree of happiness...especially when you work in an industry where as the years go by you work less and less yet make more and more money. This would become especially beneficial when my wife decides to shit out some kids.

So, strangers who I have never met in person, please give me your feedback. Has anyone been presented with a similar situation?

 

[digimon7068]

if you change jobs but stay with the same company and make less money working the same amount of hours, in short order you will be extremely unhappy. . .regardless of how much you like the work. . .

 

[75th]

I am good at the sales part, which is why this decision is so tough. I know that I can make bank in a few years working much less than I am now...but I believe I may enjoy getting up and going to work every morning more if I take this opportunity.

Stupid life and its decisions.

 

[needtogetarmy]

I am good at the sales part, which is why this decision is so tough. I know that I can make bank in a few years working much less than I am now...but I believe I may enjoy getting up and going to work every morning more if I take this opportunity.

Stupid life and its decisions.

I always keep everything in perspective - one day I will be dead and all of my decisions won't matter anymore

 

[roadwarrior]

I am good at the sales part, which is why this decision is so tough. I know that I can make bank in a few years working much less than I am now...but I believe I may enjoy getting up and going to work every morning more if I take this opportunity.

Stupid life and its decisions.

75th... no one can make this decision but you. One thing I learned a long time ago from a very wise and successful leader in a VC backed company is "know your nature". The point was if a job/role/opportunity does not fall within your nature then no amount of money will make you enjoy it, be good at it, or succeed long term. I have done a handful of VC backed startups and am now a partner ( one of four) in a tech consulting company with 52 employees. My partners and I know that I will never be good at sales but am the master of delivery. We all have our natures and natural skills coupled with education and experience that makes us a great and successful team. We each fill our roles and are happy for it.

 

[75th]

I always keep everything in perspective - one day I will be dead and all of my decisions won't matter anymore

I dont plan on dying.

Asshole.

 

[needtogetarmy]

I dont plan on dying.

Asshole.

Me neither actually.

150K with ALCOR can result in eternal life. I plan on waking up 500 years from now from my cryogenic nap.

 

[75th]

Me neither actually.

150K with ALCOR can result in eternal life. I plan on waking up 500 years from now from my cryogenic nap.

I will come back stronger and smarter than I was before. I will have used my time in death to figure out exactly how I died, and what moves I could have used to defend myself better now that I will know what hold he had me in.

 

[superqt4u2nv]

I am will eventually be in that boat in another few months. I however want the management job as I am looking for diffrent challange I want to motivate a team etc also I aim to reach higher then just a sales manager. It is a hard choice to make when you see the dollars in your face. I know if I stayed in just sales roll I would likely make more then most managers in 2-3 years if my growth year over continued as it has trend at 30% growth in my income.
What do want out your carerer to make a boat load of money or to grow face new challanges?

 

[75th]

What do want out your carerer to make a boat load of money or to grow face new challanges?

Both, damnit.

The manager position will pay well, just not as well (with more work) than my current gig.

I think Ill end up taking it.

Also because I hate all of my clients except when theyre giving me more money to invest.

 

[roadwarrior]

I am will eventually be in that boat in another few months. I however want the management job as I am looking for diffrent challange I want to motivate a team etc also I aim to reach higher then just a sales manager. It is a hard choice to make when you see the dollars in your face. I know if I stayed in just sales roll I would likely make more then most managers in 2-3 years if my growth year over continued as it has trend at 30% growth in my income.
What do want out your carerer to make a boat load of money or to grow face new challanges?

The best CEOs come out of sales QT... shoot for the top

 

[superqt4u2nv]

Both, damnit.

The manager position will pay well, just not as well (with more work) than my current gig.

I think Ill end up taking it.

Also because I hate all of my clients except when theyre giving me more money to invest.

LOL for sure take the manager postion. I am guessing that it would open up more doors for you and further down the line your salery would out pace what you could have made in sales. My goal right now is sales manager after that is director of sales then after that VP but one step at time right.

 

[75th]

LOL for sure take the manager postion. I am guessing that it would open up more doors for you and further down the line your salery would out pace what you could have made in sales. My goal right now is sales manager after that is director of sales then after that VP but one step at time right.

Not in our field. Working one-on-one with the clients and managing their investment portfolio (what I do now) is where the moneys at.

Even if I took this promotion, and then a few years down the line got promoted yet again to a senior level position, I still probably wouldnt make as much as I would if I kept doing what I was doing for the next 3-5 years.

 

[digimon7068]

Not in our field. Working one-on-one with the clients and managing their investment portfolio (what I do now) is where the moneys at.

Even if I took this promotion, and then a few years down the line got promoted yet again to a senior level position, I still probably wouldnt make as much as I would if I kept doing what I was doing for the next 3-5 years.

do what you are doing now until you are used up. . .then move to the management position. . .however, while you are burning yourself out, you need to maximize your retirement savings and use your own information to invest additional funds (as much as you can afford) wisely. . .set yourself up for an early retirement. . .even if you don't want to retire, it's a lot easier/more fun to get out of bed in the morning and go to work when you know that you don't have to. . .

 

[roadwarrior]

do what you are doing now until you are used up. . .then move to the management position. . .however, while you are burning yourself out, you need to maximize your retirement savings and use your own information to invest additional funds (as much as you can afford) wisely. . .set yourself up for an early retirement. . .even if you don't want to retire, it's a lot easier/more fun to get out of bed in the morning and go to work when you know that you don't have to. . .

Excellent advice. Everyone should maximize retirement saving instead of maximizing materialism. Why sell your future standard of living for short term fun now?

 

[digimon7068]

Excellent advice. Everyone should maximize retirement saving instead of maximizing materialism. Why sell your future standard of living for short term fun now?

meh. . .i still manage to have a little fun from time-to-time. . .

 

[superqt4u2nv]

Excellent advice. Everyone should maximize retirement saving instead of maximizing materialism. Why sell your future standard of living for short term fun now?

But I really need that new pair of shoes or outfit etc. LOL I am the worst at savig getting better I have to be. Also learning to put more away in RSPS not so much thinking early retierment more of fuck you to the goverment as it is a tax shelter.

 

[jnevin]

Obama says you should change.

 

[digimon7068]

But I really need that new pair of shoes or outfit etc. LOL I am the worst at savig getting better I have to be. Also learning to put more away in RSPS not so much thinking early retierment more of fuck you to the goverment as it is a tax shelter.

save your money where ever you want. . .sometime in the not to distant future, the u.s. will have start increasing the interest rate on t-bills in order to continue selling them. . .if the rate gets above 10% (sounds crazy but it's happened before), empty out your savings and buy as much as you can without bankrupting yourself. . .then sit on them (this is the hard part) until the interest rates go back down. . .then. . .sell your (high interest) t-bills and make a killing. . .

 

[jnevin]

One of my friends ran into this recently. He's in insurance (B2B) sales and really hit the ground running. He made $275K his first year and didn't start until April. He hit $400K last year and only works maybe 15 hours per week. Anyhoo, he got offered a management position that had killer benefits, a good salary, and a lot more responsibility. I think it was around $200K per year or something. He pretty much hates every customer he deals with, but loves the fact that he has cash rolling in as long as his clients keep their accounts active.

So, yeah. I just said nothing.

Fag.

 

[jnevin]

save your money where ever you want. . .sometime in the not to distant future, the u.s. will have start increasing the interest rate on t-bills in order to continue selling them. . .if the rate gets above 10% (sounds crazy but it's happened before), empty out your savings and buy as much as you can without bankrupting yourself. . .then sit on them (this is the hard part) until the interest rates go back down. . .then. . .sell your (high interest) t-bills and make a killing. . .

I was thinking I'd buy brand new cars, drive them off the lot, and then flip them.

I'll be a millionaire in a few months.

 

[roadwarrior]

meh. . .i still manage to have a little fun from time-to-time. . .

my wife and I have loads of fun but we keep it in perspective. we are lucky to be at a point of seeing successfull retirement as a near certainty. now we are focused on the kids education.

 

[digimon7068]

my wife and I have loads of fun but we keep it in perspective. we are lucky to be at a point of seeing successfull retirement as a near certainty. now we are focused on the kids education.

ditto. . .i have money automatically transferred out of my checking account each month, directly into each of my 3 kids prepaid tuition accounts that i set up through the commonwealth of pa. . .

 

[roadwarrior]

ditto. . .i have money automatically transferred out of my checking account each month, directly into each of my 3 kids prepaid tuition accounts that i set up through the commonwealth of pa. . .

good job... i put my profit sharing check into their tuition accounts. i don't even look at that moeny as part of our income for living.

 

[digimon7068]

good job... i put my profit sharing check into their tuition accounts. i don't even look at that moeny as part of our income for living.

my vehicle is paid of next month. . .so i am going to bump up their contributions by $100 per month each. . .

when i was younger i would have gagged at the thought of doing something like that. . .now i get excited about it. . .the times sure haved changed. . .

 

[gjohnson5]

This is my take on that as well.
Sales is what keeps businesses alive. Managers can be changed like dirty socks.
A guy who knows how to keep a business alive via knowing the product (or service) and knowing who to attack with that product (or service in your case) will always be an asset and frankly will always have a professional job. They could work anywhere...


+

The best CEOs come out of sales QT... shoot for the top

 

[roadwarrior]

my vehicle is paid of next month. . .so i am going to bump up their contributions by $100 per month each. . .

when i was younger i would have gagged at the thought of doing something like that. . .now i get excited about it. . .the times sure haved changed. . .

it's called being a good daddy but this investment will be repaid a million times over. We handle life in very similar ways and are at similar places in life.

 

[75th]

do what you are doing now until you are used up. . .then move to the management position. . .however, while you are burning yourself out, you need to maximize your retirement savings and use your own information to invest additional funds (as much as you can afford) wisely. . .set yourself up for an early retirement. . .even if you don't want to retire, it's a lot easier/more fun to get out of bed in the morning and go to work when you know that you don't have to. . .

Indeed.

I max out my 401(k), utilize our ESPP, as well as invest on my own.

 

[75th]

One of my friends ran into this recently. He's in insurance (B2B) sales and really hit the ground running. He made $275K his first year and didn't start until April. He hit $400K last year and only works maybe 15 hours per week. Anyhoo, he got offered a management position that had killer benefits, a good salary, and a lot more responsibility. I think it was around $200K per year or something. He pretty much hates every customer he deals with, but loves the fact that he has cash rolling in as long as his clients keep their accounts active.

So, yeah. I just said nothing.

Fag.

Bleed.

 

[digimon7068]

Indeed.

I max out my 401(k), utilize our ESPP, as well as invest on my own.

stay where your at. . .sock it away till you can't take it no mo. . .then put it on cruise control. . .

 

[75th]

This is my take on that as well.
Sales is what keeps businesses alive. Managers can be changed like dirty socks.
A guy who knows how to keep a business alive via knowing the product (or service) and knowing who to attack with that product (or service in your case) will always be an asset and frankly will always have a professional job. They could work anywhere...


+

Indeed, but when it comes to finding a good manager in our field, someone who has their Series 7, 66, 24, and 4 AND an above-average sales record, the list becomes shorter and shorter.

But yeah, I know that if I continue to simply produce in my current position I have total job security.

Until I start stealing clients money, that is.

 

[jnevin]

Bleed.

bro...

 

[75th]

stay where your at. . .sock it away till you can't take it no mo. . .then put it on cruise control. . .

Speaking of Cruise control...this is easily the best impersonation ever:

 

[75th]

stay where your at. . .sock it away till you can't take it no mo. . .then put it on cruise control. . .

Plus Ill continue to do this if I take the job as well.

 

[75th]

bro...

Sorry.

I need to change.

 

[jnevin]

Sorry.

I need to change.

That's what I've been saying!

 

[jnevin]

 

[jerseyrugger76]

you should definitely "assume the position."

 

[jackangel]

in favour of taking the new position, the only thing i think you've said is that you think you may like it more. unless you're really tired of your current thing, i don't see a strong enough motivation to make the change now.

 

[the_alcatraz]

So...here's the deal.


Ive been making shit happen in my career over the past few years, and Ive been presented with the opportunity to move up into a high level management role. In the investment industry, however, management tends to make less than those in sales. Im by no means making thousands of dollars an hour like most other EF members, but if I kept going at this pace for another 2-3 years in my current role I would be making $300k easy through trailers, wrap fees, etc.

Moving up into management, however, would be a bit (aka substantial) of a pay cut and have less upward movement potential. Above me, there would be maybe 10 people around the country...above them, maybe 3 people around the country...above them, the CEO. This is just in our division, obviously (we work only with people who have a certain dollar amount in investible assets). However, I think I may like the work more.

No, money isnt everything, but it does indeed buy a certain degree of happiness...especially when you work in an industry where as the years go by you work less and less yet make more and more money. This would become especially beneficial when my wife decides to shit out some kids.

So, strangers who I have never met in person, please give me your feedback. Has anyone been presented with a similar situation?

You need to find whatever makes you happy and do it. Money isnt everything.

 

[gjohnson5]

My advise on this would be to keep your business relationships and personal Point of view completely separate. It's kinda like our arguments. I hated most everything you said , but I had to give you props for arguing well.

Do your job with a smile. Talk shit about them as soon as you leave their building , lol


What your heart is telling you doesn't pay the bills and also you could be overlooking better job possibilities elsewhere just for a short term change.

Also because I hate all of my clients except when theyre giving me more money to invest.

 

[the_alcatraz]

My advise on this would be to keep your business relationships and personal Point of view completely separate. It's kinda like our arguments. I hated most everything you said , but I had to give you props for arguing well.

Do your job with a smile. Talk shit about them as soon as you leave their building , lol

What your heart is telling you doesn't pay the bills and also you could be overlooking better job possibilities elsewhere just for a short term change.

Good advice.

 

[75th]

My advise on this would be to keep your business relationships and personal Point of view completely separate. It's kinda like our arguments. I hated most everything you said , but I had to give you props for arguing well.

Do your job with a smile. Talk shit about them as soon as you leave their building , lol


What your heart is telling you doesn't pay the bills and also you could be overlooking better job possibilities elsewhere just for a short term change.

This new position will more than pay the bills...just not as well as the alternative.

 

[75th]

Oh, and you didnt like my arguments cause I was always right.

 

[the_alcatraz]

Oh, and you didnt like my arguments cause I was always right.

lol...arguing is an art.

 

[75th]

lol...arguing is an art.

And Im Picasso.

 

[the_alcatraz]

And Im Picasso.

Picasso is gai

 

[Longhorn85]

Stay where you are and get paid