Author Topic: Career Decision - Climb the Ladder?  (Read 3816 times)

elkbark

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Career Decision - Climb the Ladder?
« on: February 18, 2014, 08:32:24 AM »
My current job is technical and at an individual contributor level.  I like it, and it pays well.

I was recently offered a new job as a manager.  It will be a bit less technical will come with some more responsibility and a moderate initial pay increase.  It will give me more leadership experience, and I think I would also like the new job.

While not immediately, over the long term (4-5 years) my current job has a better likelihood of out pacing the pay of the new job, in both rate and over-all $ value.  But the new job suggest a shot at a very lucrative senior leadership position in the future.

I'm currently on pace to be FI in about 8 years, perhaps sooner given a steady increase of save-rate.

I'm leaning toward taking the new job primarily because it will be a new experience, but I'm interested in hearing some other points of view.   

Mustachians, if you were in a similar situation, what would you choose and why?

Numbers Man

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Re: Career Decision - Climb the Ladder?
« Reply #1 on: February 18, 2014, 09:05:05 AM »
If your comfortable with the time commitment then go for it.

Cheddar Stacker

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Re: Career Decision - Climb the Ladder?
« Reply #2 on: February 18, 2014, 09:21:53 AM »
I would choose whatever provides interesting work and the fastest possible path to FI. Once you reach FI, you can always choose another position if the manager one doesn't quite fit, including a position on the beach/mountain/couch/river/whatever.

Mortgage Free Mike

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Re: Career Decision - Climb the Ladder?
« Reply #3 on: February 18, 2014, 09:28:43 AM »
Are you looking for a new challenge in your career? If so, I would lean toward the new opportunity.

With that said, think about yourself in a leadership position. Do you like managing people? Some people prefer not to and that's just fine.

You seem to be in good financial shape. No need to make a decision based on FI. Make it based on the job, what it will do for you and will it get you closer to your ultimate goal.

Jamesqf

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Re: Career Decision - Climb the Ladder?
« Reply #4 on: February 18, 2014, 11:04:29 AM »
Are you any good at managing?  It's an entirely different skill set.  You should remember that there's a good bit of truth in the Dilbert view that managers are just people who couldn't handle the technology.

Bank

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Re: Career Decision - Climb the Ladder?
« Reply #5 on: February 18, 2014, 11:19:14 AM »
I would be comfortable with your plan given your FI target date.  For people planning to work longer, shifting to management can cause your valuable technical skills to become rusty or obsolete.  There are plenty of mid-level managers out there who can't go forward in the managerial pecking order (the pyramid tends to tighten, after all) and can't go back to coding.  I know of a couple who have been looking for work for years.

Skill obsolescence is something I'm very aware of in my own line of work -- corporate finance consulting -- and it scares the bejeezus out of me.

ShortInSeattle

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Re: Career Decision - Climb the Ladder?
« Reply #6 on: February 18, 2014, 01:33:07 PM »
I would be comfortable with your plan given your FI target date.  For people planning to work longer, shifting to management can cause your valuable technical skills to become rusty or obsolete.  There are plenty of mid-level managers out there who can't go forward in the managerial pecking order (the pyramid tends to tighten, after all) and can't go back to coding.  I know of a couple who have been looking for work for years.

Skill obsolescence is something I'm very aware of in my own line of work -- corporate finance consulting -- and it scares the bejeezus out of me.

+100

It is harder to find management jobs if you lose a management job. So keep your current skills fresh. An 8 year horizon is less risky than a 20 year horizon. :)

PS: Read "The Leadership Challenge" by Kouzes & Posner.

elkbark

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Re: Career Decision - Climb the Ladder?
« Reply #7 on: February 18, 2014, 01:47:57 PM »
I would be comfortable with your plan given your FI target date.  For people planning to work longer, shifting to management can cause your valuable technical skills to become rusty or obsolete.  There are plenty of mid-level managers out there who can't go forward in the managerial pecking order (the pyramid tends to tighten, after all) and can't go back to coding.  I know of a couple who have been looking for work for years.

Skill obsolescence is something I'm very aware of in my own line of work -- corporate finance consulting -- and it scares the bejeezus out of me.

+100

It is harder to find management jobs if you lose a management job. So keep your current skills fresh. An 8 year horizon is less risky than a 20 year horizon. :)

PS: Read "The Leadership Challenge" by Kouzes & Posner.

Thanks for the book recommendation, I just reserved it at the library.   Thanks everyone for the feedback.  Something to think about.
« Last Edit: February 18, 2014, 01:51:02 PM by elkbark »

SnackDog

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Re: Career Decision - Climb the Ladder?
« Reply #8 on: February 18, 2014, 01:49:00 PM »
Are you prepared for the stress of managing people and being held responsible for group performance?  It is completely different than being an individual contributor and can be very demanding.

Peter

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Re: Career Decision - Climb the Ladder?
« Reply #9 on: February 18, 2014, 02:05:14 PM »
From what I've seen I couldn't be a junior or middle manager. It just looks like at least 50% of the job is dealing with bullshit. You are the front line for both the employees complaning about nonsense things, and the enforcer of nonsense rules and policies coming down from the real managers.

Working in technical for 15-20 years and then jumping to a more upper managemement (like 1 step below VP) position seems much more appealing as it's not until that level that you have any sort of organizational control.

But alas, I suspect in 15-20 years all I'll be managing is a vegetable garden and the amount of quality fresh air and sleep I'm getting.