#CareerAdvice #CareerTransition #JobOpportunities #DataAnalysis #ResearchRole #ProjectManagement #JobSatisfaction
Hey there! 😊 It sounds like you’re facing a bit of a career dilemma at the moment, and I’m here to help you make sense of it all. The question you’ve posed is a common one, and it’s totally understandable to feel unsure about the potential impact of a career move. Let’s dive into the details and explore the possibilities together!
### Is Transitioning to a Relationship Manager Role a Bad Move?
#### Understanding Your Current Situation
First things first, let’s take a look at where you currently stand in your career. You mentioned that you’ve been working in data at BlackRock for two years and have aspirations to transition into either project management or research. This is a great starting point, as it shows that you have a clear vision for your future career path. The fact that you’ve also passed CFA Level 1 speaks volumes about your commitment to professional development.
#### Evaluating the Relationship Manager Role
Now, let’s shift our focus to the opportunity that has presented itself to you – the relationship manager role at a larger UK fund, with a significantly higher salary. It’s understandable that the compensation package is attractive, but you’re also feeling hesitant about the potential impact on your long-term career goals.
### Weighing the Pros and Cons
It’s essential to weigh the positives and negatives of making this move. Let’s break it down to help you make a more informed decision.
#### Pros:
– Higher salary: The financial aspect of this opportunity is hard to ignore. A substantial increase in pay can offer you financial security and freedom.
– Transferable skills: While the relationship manager role may not be as technical as your current position, it will likely provide you with valuable skills in client management, communication, and relationship-building. These skills can be highly transferable to roles in project management and research.
#### Cons:
– Deviation from technical track: If your ultimate goal is to move into research or project management, taking on a non-technical role may lead to a divergence from your desired career path.
– Perceived career trajectory: Some individuals may view transitioning into a relationship manager role as a departure from the more traditional career trajectory in finance. This perception could potentially impact future opportunities in specific areas of the industry.
### Navigating the Career Landscape
Let’s address your concerns about the impact of a career move on your future prospects in research or project management.
#### Career Flexibility:
It’s important to recognize that the career landscape is evolving, and professionals are increasingly finding success through nonlinear career trajectories. Transitioning into a relationship manager role does not necessarily mean closing the doors to research or project management. In fact, it could open up new possibilities and provide you with a more diverse skill set.
#### Transferable Skills:
As mentioned earlier, the skills you’ll gain in client management and relationship building can be incredibly beneficial in various roles. Demonstrating your ability to effectively communicate with clients and understand their needs could make you a valuable asset in project management or research positions.
#### Long-Term Vision:
Consider the long-term implications of this shift. While the immediate financial gain is enticing, envision where you want to be in five or ten years. What steps can you take now to align with your ultimate career goals?
### Making an Informed Decision
Ultimately, the decision to pursue the relationship manager role should align with your career aspirations and overall life goals. Here are a few questions to consider as you weigh your options:
1. What are your long-term career objectives, and how does the relationship manager role fit into that picture?
2. Can you leverage the skills and experiences from the relationship manager role to propel yourself toward your desired career path in the future?
3. How important is financial stability and growth at this stage in your life and career?
### Embracing New Opportunities
In conclusion, while it’s natural to feel uncertain about the potential impact of a career move, it’s essential to approach this decision with an open mind. At the end of the day, your career journey is unique to you, and there’s no one-size-fits-all answer to whether transitioning into a relationship manager role will hinder your future prospects.
It’s crucial to think strategically, leverage your current skills, and consider the long-term implications of this shift. In doing so, you may uncover exciting opportunities for growth and development that align with your career aspirations.
Remember, career paths are often nonlinear, and embracing new opportunities can lead to unexpected and fulfilling outcomes. Trust yourself to make the best decision for your future, and embrace the journey ahead! 🌟
I hope this insight has been helpful to you as you navigate this important decision in your career. Wishing you all the best as you chart your course forward! If you have any more questions or need further guidance, feel free to reach out. Good luck!
Take your offer to your boss and have a discussion. You could also apply to other jobs that are more aligned with what you want.
You won’t get 3x from your manager. Take it lol
My first thought is, why would your resume with a data background be a perfect fit for a relationship manager role? I’m not purposely trying to poke holes in your situation but either your recruiter is blowing smoke or something seems amiss.
It would help if you provide a little more about your TC. The situation would be very different if they offered you 3x $30k or 3x $100k.
Overall, I don’t see a way to go from RM to Research, but it’s possible to become a Relationship PM. Part of the PM’s role is to sell their fund to investors. You would be the part of the PM team that goes on roadshows and conferences to pitch to investors, not asset selection.
I don’t particularly think it’s as easy as going from data to Research/PM as you’re implying in your question to begin with. Depending on exactly what you do in data, you would need another transition / get your MBA before being attractive to the front office side.
Commercial roles will always pay attractively, because they’re the money makers. In the beginning of your career, I would prioritize learning over pay, though. I interpret the extra $$$ you will get from being an RM as compensation for you not learning technical stuff. (Although yeah, you will develop soft skills)
Keep quiet, go through the process and make sure it’s a definite offer and then take it.
They didn’t even increase your base. What makes you think they’re gonna double it, let alone triple it?
You don’t owe loyalty to any company. They pay you for it. If someone values your loyalty more, that’s who you should go be loyal towards.
You can always go back to your shit job with shit pay. What’s the problem here?
blockrack 😀
If that offer is legit, you gotta be crazy not to take it….you can still work on your future plans on the side while getting 3x the money…
All jobs are bullshit anyway, just bank some money.
Solid move on getting that offer!
One question, was ur review above average or just satisfactory in all categories?
3x your current pay seems — off. Not calling you a liar but make sure you have your numbers correct.
Being a data analyst in the US making say 120k base + 10k bonus may be better than being an RM making 75k base with 200% bonus possibility.
Many of my friends on the sell side have not had a bonus since 2021. Meaning they basically didn’t get half their TC for two years.
Where I’m from , one can make good money only in sales (RM), Portfolio management (buy side), and sell side research. You should take the RM role if you’re into advisory coupled with sales.
Going from RM to PM could be challenging. You might like RM, you never know. The kind of money those people can make is astonishing. If you’re good with people you could use your skills to navigate conversations intelligently.
It is a great career move. Having client facing experience will boost your career aside from the money. It will provide you a much greater perspective that you can take into future roles and build on.
Safe to assume you applied to one of the long-only traditional AMs, e.g. Schroders, LGIM, Aviva?
This question isn’t possible to answer without knowing what you do specifically in data. Programmer for Alladin is different than trading operations
GO AND DO NOT LOOK BACK! If you want to continue working on your CFA licensure then continue that on the side. You can always switch career paths with a solidly scripted story. Money talks!!
LOL why don’t you just do what you think will be better for you instead of mitigating risks that do not exist. What is true here is that you do not like your current role enough to stick with it.
You got an offer 10 minutes after applying? That’s a major red flag, I would be extremely careful.
If it’s somewhat in line with where you want to be, go for the money and take care of your financials. If there’s no future growth where you’re at, get out now. No shot you don’t deserve at least a small raise or bump in bonus. This is telling of how they’ll treat you in the future.
Depends on what you define as fucking your career over. Is this a path to portfolio management? No. But if you wanted that, you would have passed L3 already (I did).
But if you want a better career, I’d rather be a relationship manager than working on Aladdin forever.
If you get a 3x offer you are definitely not killing your career, but your current manager is killing it…
So a few points to make.
1. You are almost definitely being underpaid
2. 3x is great but don’t trust a recruiter. Do your due diligence to see if that level of comp is actually typical for the RM role whether at that fund or at other funds like it
3. If you’ve always wanted to transition to PM / research, apply for associate roles in those functions too. See what they offer you in comparison
The only thing that seems clear is that you should leave your current role. Not being comped appropriately and not in line with what you actually want to do
Can you provide your employee id so I can look into this further for you?
Wow, BlackRock. How does it feel to work for the people who run the states
Doesn’t smell right for starters, but nobody goes from RM to PM.
How is making 3x what you’re making now going to fuck your career? What is this post lol
Do you! I was screwed over this year as well and am looking into other things more seriously this time around. Hope it works out for you!
Allow me to be direct, if you got the same bonus and no increase to base, they’re managing you out anyway.
Take the new role and don’t look back.
If it’s only about the money, go for the RM role.
If not, I would look into more specifics about the role bc it is a bit weird that someone from your background got into RM, just proceed with caution. Then decided weather you want to stick with your career goals long term or go with the wind and see where it takes you.