Author Topic: Up and downsides of applying for new position at work  (Read 1192 times)

dragonwalker

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Up and downsides of applying for new position at work
« on: May 04, 2019, 01:59:22 AM »
I have been working at a fairly new job in back office branch support since October last year at a large regional credit union with about 700 employees and 20 branches. I came after working 8 years from a large bank working in branch sales. I saw the new job as a good job opportunity for my career even though I took a pay cut. The work I do is definitely not what I want to do long term but it was a way to get my foot in the door and a great foundation to learn credit union policies, procedures, and business model. In the past few days an opening in our finance department as an entry level financial analyst opened up.

I am very intrigued by this position and I have been interested in an analysis type position even at my days working at the bank but there was no reasonable opportunity at that time. I decided to reach out to the manager of the finance department to talk about this opening. He described the position as part of a group that looks to take data and essentially model it for executive decision makers to make an informed decision. The conclusion I drew from him which he confirmed was that he was looking for a critical thinking individual that could draw conclusions about the data gathered and less of a simple number crunching like accounting might be. We covered a lot of aspects the job covers affecting many different departments. It is an entry level position in that department and field that pays a starting of about $57K-$60K. I currently make $52K in my current job.

I think the conversation went well and I had asked if I would learn anything by visiting the department and then he suggested rather than that in would invite me to attend one of the monthly presentations with upper management and accounting where they discuss ongoing issues. I was quite surprised of being given this privilege. The first thing I did next after our conversation was to start the dialogue with my own manager about the interest in this position and got her blessing to go. My current manager and I have some previous work history at my old job and knows this is the type of job I have always been looking for.

I do have some concerns though. I am assuming that the meeting I am to attend will enforce my desire to be a part of the department. I have not been there long but I did check with HR and I am technically permitted to seek another job having exceeded the 6 month minimum in position. The job requirements call for a bachelors in a quantitative field like math, economics, engineering, finance. I have a BA in International Relations with focus on finance. HR does say that would qualify for the position but I see it as a bit of a stretch. I mentioned this to the finance manager and he didn't comment directly on that but he cited a recent hire in the same position had a master in economics and emphasized the heavy quantitative nature of the job. Again he did stress this as an entry level job where foundational knowledge was important but skill sets will be developed. It was mentioned other skills like strong control over Excel of which I have a working knowledge but I only use it to a basic capacity in my day to day job role. For the last several years I have actually been taking accounting, finance and business courses at my community college to perhaps prepare me to complete a CPA but for a variety of reasons I am having second thoughts. I think it would help my case but I feel underqualified for the position especially also since I have not worked in financial analysis before but the analysis work experience was not listed as a requirement, again it's entry level.

In addition to this my current department is going through a bit of change as about 1/3 of the staff are new like myself and another is leaving for another department and we are hiring for a new job role in our department. Our department is about a dozen people. Coupled with the fact my manager is new to her role as well. I feel my manager would have good feedback about me but resistant because of timing concerns. 

My big question is even though I'm interested I feel ultimately my chances of being accepted are low in this round of hiring. Is it worth the personal capital to attempt to try anyway? What I mean by this is should I not get the position would it be seen as being passed up for promotion as having my chance at being judged and deemed not worthy. Making it even harder in subsequent times to try again? It's hard for me to describe but I have a co-worker over the last 3 years have been passed over numerous times for positions even though it appears he is very well qualified and not only has it affected his morale but I fear that he is looked up worse for it. Am I overthinking this aspect or am I just plain wrong? Could applying put me a better position in the future when something comes up?

The finance department is not that large and I suspect another opportunity might take more than 1 year or 2. In that time I'd find myself in a position to get promoted in my role but then again I get this sense that my current manager might with hold some opportunities knowing that my interest lies somewhere else and I'm not sure I could be comfortable waiting for another opportunity while in my own.  I'm also not quite certain in that time I could change my situation the only way I see is shifting my course work towards finance related classes at school but it wouldn't be enough time I believe until the next opening for me to officially obtain some kind of degree.       
Thank you for your advice.

Mike in NH

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Re: Up and downsides of applying for new position at work
« Reply #1 on: May 04, 2019, 06:13:33 AM »
In my experience (15 years @ insurance megacorp), there is nothing wrong with taking a shot and not getting a position from time to time. If anything, it puts people on notice that you are looking for bigger and better things and you get the experience of going through the interview and opening up relationships with people in other parts of the company.

But you do want to be thoughtful about it, while not getting a job isn't the end of the world, you are correct that stacking up 3 or 4 rejections could start to be an issue over time (both in the perception of others and in your own confidence). I think you are on the right track by reaching out beforehand. A good hiring manager should be completely honest here and not allow you to interview for a job you have no shot at. If you don't get the position, but it's still your end goal, make sure to ask for feedback in terms of what you can do to get there. Stay in touch with the hiring manager, if your company does development plans make sure that type of work is on there. Then the next time a position opens up, they may already be thinking of you.

Good luck!

Loren Ver

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Re: Up and downsides of applying for new position at work
« Reply #2 on: May 04, 2019, 09:24:03 AM »
Given what you have described I would more concerned about getting green lights from different managers and then NOT even applying.  You don't need to hit all the hiring points before applying, but if you don't apply you can never get the job.  Also by applying you are increasing your network and it is a network that actually knows your skills and desires. 

If it turns out this is what you want, I say go for it if you are given the impression you will have a chance.  It does not mean a rockstar with exactly what they are looking for wont apply and get the role, but that is not under your control. 

LV

arob54600

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Re: Up and downsides of applying for new position at work
« Reply #3 on: May 04, 2019, 09:39:48 AM »
I have worked at a major metropolitan credit union in the midwest for a while now. The impression that I get from my company is that credit unions are way more likely to build up a good internal applicant than seek external applicants. Putting yourself out there only shows that you are a go-getter.
It is okay to feel underqualified and still apply. If you get the position, that's where the growth and development comes in (can you tell I am a learning and development trainer lol).
Get the position, a make an educational plan to push back that imposter syndrome and work. It's okay to feel uncomfortable AND I truly believe the biggest waste of talent is the employee that doesn't believe in themselves when everyone else is cheering them on. Don't fall into that trap!

Good luck!