What would you do? Option A — taking on lead senior/manager role for multiple projects while underpaid, for promise of early promo to manager; Option B — switch firms for same level of senior associate for higher pay but starting over with learning/networking/proving yourself

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Lateral with hire pay, don't fall into the dangling carrot trap

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Option B, promises are for suckers. I can’t tell you how many times those sort of “promises” don’t pan out

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That’s what I was unfortunately thinking 😢 I like my team at current company but know I am underpaid. Anyone have experience negotiating raise (although I don’t think I have much leverage due to Covid currently, but unsure)

Run towards the $$$$. Don’t worry about job titles. Focus on how much your compensation is.

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I’d say all signs point to taking the money. Think about your eventual exit from consulting. Is this something you see yourself doing in 4 years? 8? 15?
If you’re going to exit in 4 years, why not take the hike in pay now. Waiting for that “fast promotion” means you’ll only be in the position a short time before leaving.
Leaving in 8? Take the higher pay, and you have plenty of time to get promoted at the new place.
15? You’ll have switched companies 2-3 times in that time period, each time seeking hire pay.
See if you can leverage the offer into a contingent probation year. “I’ll come over as a senior, with the understanding that I will push for promotion in my second year”. I did that at my current company and I got both the higher pay and the eventual promotion

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Exactly, much of that 20% will stay with you the rest of your career

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Why not wait for a better offer if the pay hike is not that tempting?

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How much higher pay?

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I wouldn’t sweat that part as long as you like the people you’d be working for / with and feel there is a good culture fit

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Depends on your trust for the company in Option A in my opinion. And what your opinion of underpaid is. Option B sounds good, but how long do you actually sit as senior assoc with the same pay?

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I would still have 2+ years as a senior at current company, potentially without raise depending on the pandemic.

Thank you for all of your insight — it is very helpful for someone like me who as been at the same firm since my career began. It’s looking like I should begin the interview process

The flip side is whether more experience / time at your current role will gain you more / better experience than jumping ship.

If not, I agree moving is a no brainer assuming raises and bonuses are at least equal

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