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I jumped to industry as a M2 (in Audit) and have no regrets so far. The salary increase would put you into the Sr. Mgr pay band already. I’ve heard from others depending on the next position you are looking for, sometimes opportunities are more limited once you are a Sr. Mgr as some companies want candidates with both industry and B4 experience at that YOE.
Exit opportunities as an experienced manager and newish senior managers (I.e. senior managers who aren’t experienced enough to get director equivalent roles in industry) are almost identical.
I left as an M2 to a bank at the VP level and senior managers from other B4s have also come in at the VP level (although I’d have to assume they come in at a slightly higher pay rate than me).
So if you find a great role in industry before getting to SM, you should def take it.
Goodluck!
What do you do there?
Two years is a long time, and it really depends on where you’re moving to. If you were going in house there is likely to be a difference in roles between M and SM exits, and you will typically progress quicker in practice.
I jumped to a boutique advisory firm from B4 Risk Consulting when I was an S2, still doing the same work, just for smaller and more specialized clients. I'm an M2 myself now, always keeping my eye out for opportunities with better pay, but haven't been able to find anything at or above my current comp (especially not remote like I am now). Let me know if you're seeing anything great out there!
Thanks for the advice! If anyone has advice on lateral positions out of B4 I can switch to from Risk Consulting, please let me know! I’d love to talk to a mentor on career paths!