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Rising Star
I would confirm if it really is a step back since the firms do not all use the same titles for the same levels. If it's not, take it, and if it is, I would consider it because it pays more and would likely make me happier. I've never been in this situation, so I can't say for sure what I'd do, but I lateraled into my current role for more money and closer alignment to what I want, and I do think that was the right choice.
Good point, but I can confirm it is a step back. Different Big 4 use Director and Senior Manager depending on the firm, but they are the same level. All 4 use Manager consistently. I can see both sides of the argument for/against a step back....For: takes some pressure off from a expectations/metrics standpoint since there will be a learning curve and you are building a new network at the new firm. Against: I've worked really hard to get to my current level and hate to step back, knowing it will likely be 2 years realistically before I have the chance to step back up at the new firm.
Sure. I've made a couple slight steps backwards in my job titles when changing firms during my career, but the comp and/or job fit has always been an improvement.
I also personally don't care about titles at all--my official title could be Mail Sorter and as long as the comp and job fit are good, I'd be fine with it.
@MD1 - I like to say I agree with you on title, but then deep down it seems to bug me a bit. I also recognize that there is a role/responsibility associated with a title that is a bit harder for me to get past. For example, I have almost complete autonomy as a Director/Sr. Manager level position at my current firm and am in more of a leadership role. Going back to a Manager at another firm would certainly impact that because I would lower on the totem pole. I'd be curious to get your thoughts on that.
Sounds like more money and less responsibilities!
Yes; did so at midpoint in overall career, and never regretted it....
Better to take a step back and leap forward than possibly come in at the wrong level and stumble.
That is the target firm's rationale, and I can definitely understand that (and agree with it to a certain extent). But I still waiver back and forth between agreeing with that sentiment and thinking that I am underselling myself by taking a step back.
More money and less expectations.. sign me up! :)
Chief
Yes, definitely. In my case, while a bit different than yours, I took a lateral M role that paid significantly higher than my pay at the time. If I remained at my current firm, I’d always get the low end of the stick even when I’d get promoted to SM.
Your situation is my current case...I'm underpaid in my current role. That combined with potentially moving to a higher pay scale in a more premium service area makes the ability for me to still get a good bump even taking a step back (plus getting into an area that more closely aligns with my personal/career aspirations).
If you're trying to exit consulting in the next 2 or 3 years, stay an SMD where you are. Big 4 are not that well differentiated from industry perspective, so being an SMD will look better than M, and you can show a good track record without a blemish of a title drop that raises questions. Possible exception is if your target is S& because their exits may be better to begin with.
If you're planning on making Partner, go over to strategy. The money will be worth the title drop, and you can always switch back to ops transformation if needed.
No plans to exit consulting. I enjoy it. I just don't truly enjoy the type of work I am doing and am not sold it's where I want to be in the long run. And I still have 30+ years left in my career, so getting some enjoyment out of the type of work I do seems to be pretty important to me.