Career issue

[offwego]

So I'm in a place where i need to make some choices. The job I'm in has been causing me some difficulties and my managment hasn't been as supportive as I would have liked. I inofmred them some time ago I was looking outside the company for a different role. And at first I'm pretty sure they didn't really think I meant it. (I've been with them for 20 years it's the first and only company I've ever really been with I started while in high school).

I'm one last interview away from being offered a role with a different company. It's commision based still in financial services, no need to relocate, similiar benfits & pension & savings plans etc to my current role. (this is not a firm with "levels" and vice presidents etc..very flat organiztionaly, it's about earning potential)

My company has offered me a different role, slightly more variable component to salary on the upside & will maintain my base but it's a step backwards in terms of level. Due to the compensation piece I'm being told the level doesn't matter. But it's a traditional bank and we've always been about the levels not the paycheques.

The catch is my son is 1.5 years away from High School & I really need to make a choice that will stick for the next 5 years or so.

Does anyone have any similiar choices or questions that might help me decide.

My DH is behind me for either choice but seriously questions the wisdom of backwards with potentially more money.

[MissStyles]

Natalie I'm sorry you're at this crossroad but I think it's good that you actually have another option if you do decide to part ways with your current and only company that you've been with. I obviously don't have the answer for you, you will find that within but I have some questions for you to think about....


1. Do you like the people at the potential new company? Do you get a good vibe? What is the environment like? I'm assuming you're comfortable where you are now, will you be comfortable there too?

2. Would you be comfortable in a commission driven position? The company I work for is also financial services and the positions are all commission based as well. A lot of the times the people I speak with during the recruiting process are not comfortable with having that weight on them. But it seems like that might not be a problem for you?

3. I also question the moving backwards but getting a higher salary. Do you have to accept that position or can you keep your current one?

4. When do you have to decide?

...This can be tough but I guess what you really have to do is go with your heart and what those voices within say. It works every time. Goodluck and obviously keep us updated!!!!

[offwego]

Emily, to answer the "do I have to change" question. I don't have to but want/need to.

Once your in a place where you've lost faith in your management I think you have to do something..or at least I do. I've been struggling with it for months so staying is just not something I'm prepared to do.

[murphy1]

Good luck, Natalie! That is so great that you have had the chance to be at a company that long, that is such a rarity nowadays. I have been laid off a couple times. If you think there is stability at the other company and the total package looks good, go for it. Sometimes change is something we need to keep us growing. I like to do new things and have new challenges, I guess that is why I sew and design so much now. On any account, you have some great qualities that either employer should really value.

[MsMin]

Personally I don't think a "title" is that valuable. I don't see it as backwards if it's just a label. I've had ppl come to me who said they were "health therapist" only to read their app a little deeper and realize they were cashiers at the local pharmacy.
I also worked in a place where in a staff meeting they decided what my title would be b/c I had to have a title... it's just a way to ID what you do.
Now for me.. commission would be a toughy.. I hate to sell. So I would suggest you review the terms of the commissions and decide how that will affect you. With the changing economy will that have an impact?
Sending you :pixie: and hope you find comfort and pride in the path you choose.

[tink2006]

I was in a similar position a few years ago. I Worked for a traditional bank in a small community. I too had lost faith in management and decided to move on. I also have a son that was close to entering high school etc. I did not, however, have to make the decision of commission based pay vs traditional salary.

Only you can decide what is best for you and your family. Peace if mind and mental health is priceless!

One question...Is there a non-compete clause? If so, I would read this carefully. If it does not work out with the new company you do not want to limit your options.

Wish you the best!

[offwego]

One question...Is there a non-compete clause? If so, I would read this carefully. If it does not work out with the new company you do not want to limit your options.

Wish you the best!

No neither role has a non compete clause, though of course I wouldn't be serving out my notice time physically. (just would not report to the new company)

I should say the commision based isn't a deal breaker for me. More and more of my income in the traditonal bank has been perfromance pay and I'm confident that I can sell enough to exceed my current income. The econmics aside the company has both credit/investment products and as such is positioned to ride that out.

[offwego]

Personally I don't think a "title" is that valuable..

Thank you for the pixie dust, sorry I should have been clearer, the level title issue governs pay scale/bonus structure in my current firm. So it's more a $$ issue than a status issue though the message sent by stepping backwards is a huge concern.

[JMTStone]

I think you answered your own question. You need to spread your wings. And your current management is holding you back. Give it a try if your pro/con list is even (I love making lists) and don't burn bridges... you may want to go back.

[offwego]

I think you answered your own question. You need to spread your wings. And your current management is holding you back. Give it a try if your pro/con list is even (I love making lists) and don't burn bridges... you may want to go back.

thank you..I think your correct. I guess after 20 years I'm just looking to bounce it off as many people as possible before I make a change like this. It doesn't help that it's the same bank my Dad & Grandfather worked for. Combined we have over 95 years in.

[DizneyRox]

The problem is today's economy is that many companies wil probably be laying off soon, unless you are lucky to be in one of those fields that is recession proof.

Moving to a new company means you're low man on the totem pole and more often than not that's means last in, first out.

It's something to conside... It's on my mind as well, but money speaks louder than words more often than not.

[Disneyatic]

Good luck to you in your decision making process.

I have found that there is nothing worse than staying at a job you are dissatisfied with, it makes it very difficult to go in everyday.
Sounds like it is the time invested that is holding you back from leaving your current position.
Just remember, you can always begin investing the time in the new company and starting fresh with a job that you don't dread.

I am in a similar boat, feeling like I may need a change, I only have 7 years invested and it is still a very hard decision to consider!

Once again, good luck to you!

[Tink&Goofy]

Nat - I too would question what the affect of a potential recession would have in a new company. That being said, you say you have lost faith in the management. If you stay, wouldn't you still be working for that same management (with maybe a different front line manager)?
I'm in a similar situation, where I have lost faith in management (but not my front line manager - but he's retiring soon!). I too will be facing this same decision. I think everyone gets in their "comfort zone" when they stay somewhere a long time, and its difficult to take that leap. But new challenges await! Those that have left my organization after a long period of time always say "why didn't I do that sooner?".

Good Luck, and here's some :pixie: for your decision!

[Flower]

I too think you have answered your own question!

My only question is, what are you giving up with 20 years under your belt? Will any of your seniority transfer over? Will you drop down in vacation days? If you have a pension, will it carry over?

I also know that when my mom worked at the bank she was given dividends/shares for years of service, will you lose any of that bonus?

My mom worked for the big Canadian Royal blue & yellow bank for many years, she just got to a point with all of the changes that she felt they were pushing her out. She ended up on stress leave and finally took an early buy-out package. From experience I know how difficult it can be at a financial institution. That being said, all of my banking is still with them and I actually feel I get good customer service as I have a 'personal banker' and she is just awesome!

Good luck with your decision.

[ElenitaB]

Thank you for the pixie dust, sorry I should have been clearer, the level title issue governs pay scale/bonus structure in my current firm. So it's more a $$ issue than a status issue though the message sent by stepping backwards is a huge concern.
Nat, I took a step bank in rank but maintained my salary a few years ago after a big restructuring. I can't tell you the number of times I ended up crying in the ladies room or on the way to work. And yes, the change did affect how much I was able to make in bonuses because in our firm as in your bank, the level/rank does port over to the bonus structure. And since I was already at the top of the pay scale for the "scaled back" rank, my performance reviews were not as high as they should have been, so as not to give me a raise. So every year, it was a blow.

I've now been promoted but still have yet to get back to my old rank.

The culture in some organizations does put more emphasis on rank than others. If that is the case in your organization, I would recommend that you think long and hard before taking a step backwards.

:hug: and :pixie:

[offwego]

Thank you all more then I can say..your good wishes and thoughtful comments and questions are relly helping me through a difficult time. What would I do without you all?