I’m considering applying for another job at my current company but I’m not sure if I should. I’m 35 right now and work as a Business Analyst at a credit union near LA. My job is a lot of project management, requirements gathering, testing, meetings, some analysis, and some use of data. We work on implementing technology/software to the credit union systems. I’ve been in this role for a little over 1.5 years. Before this role, I was in a back-office operations support for 3 years, before that a banker at a branch for 6 years at a major bank, a teller for 2 before that. I graduated college with a degree in finance years ago and I’m working on my MBA with 1.5 years to go.
For several years, I’ve been unsatisfied by my professional growth. I feel that I find myself in somewhat junior positions with responsibilities that I sometimes find unfulfilling for what seems like trivial impact. Some of the work I do is interesting and I see the benefit. My coworkers are fine. The money is not fantastic either. I make about $70K but there are some nice benefits.
For the past few years I’ve had a plan to get into management. My strategy to do this is first to get my MBA which is in progress, work on leading more projects and building more familiarity across different working groups in the organization (a number of people in management have emphasized this as departmental performance is often measured on meeting project goals and deadlines), network and socialize with different people at different levels with other work areas of non-management as well as people in management positions, increase exposure and improve public speaking skills (Toastmasters) and company sponsored leadership program (in progress), communicate with management my intentions. I have been pretty consistent with these tasks to help me get into a role. I understand there is a level of politics getting into management and I’m trying hard to get the hang of it. I’m not a natural as some might say but I am intentional and committed and making some good connections.
Now, my immediate manager was just promoted to be a vice president. He’s a great manager and I’ll continue to work with him even in his new role. I worked well with him and our working relationship is good. The search is on for his replacement and I am not applying because at the moment I feel very strongly I have no chance. I am the junior most analyst among 6 others but only 2 of which are applying. These 2 have graduate degrees and in one way another have superior experience, education, or both. Both are also good with management.
Another position recently opened up which is basically a compensation analyst. It’s a bit outside my skillset but I feel I have a chance of getting it. It would be considered a promotion but based on internal pay increases my salary would likely go up less than 10%. My concern is that this position has fewer touchpoints with other departments, less project oriented and less room to grow. In my current position if someone more senior gets the promotion it’s highly likely I can also move up and get a salary bump very comparable to moving to this other position. However there is a fair possibility the more Sr. people in dept won't get it and it will take longer. If I were to move there would be a time where I’m going about relearning new processes again.
I want more money and career wise I want to go into management. Would going to this new position be a good idea? Due to personal life issues (possible marriage in the not-so-distant future) it’s also likely that I may look for a job elsewhere but I’d rather not do it until I obtain a managerial position. I’m not sure if this thinking is correct but I feel that if I leave as a more senior position such as a manager it will make it easier to find a comparable position elsewhere.