I'm currently mulling over a potential career fork in the road and I need some clear unbiased opinions. These are a bunch of my thoughts.

Some background...
- Early 30s with 2 young kids. wife is going back and forth on staying home for a year or 2.
- background in accounting/FP&A (6ish years with 1 company, 1 year stint in very different industry I didn't enjoy, 1 year stint at company that went Ch.7, and currently almost 1 at another)
- Current role is non managerial senior level FP&A. PE backed and potentially going public in a couple years, although I wouldn't be too heavily involved since that would mostly be at the corp level. Stable, multinational, and pretty big growth goals over the next 5 years through M&A that I could begin to get pulled in on. Hybrid. Average pay and benefits, no bonus potential.
- Feel like I could be in line for a promotion in the next 2 years, but with a small team not sure if they'll just drag their feet a few years longer and let me carry the load.

The fork...I've been offered a promotion in title (controller) and about 20% bump to an early stage company that will slowly grow. The offer did not include bonus potential, but likely can get this worked in. Small amount of equity but not really factoring that in at this point, since it could amount to nothing in the end.
- I would be able to build a small team under me and while exciting, would be new to me.
- Would be taking on a lot of new work and would learn a lot, but also will likely be treading water with things I don't know
- I have prior history with the group, enjoyed working with them, and while very knowledgable operationally, they don't really place too much value on the finance side.
- Benefits cost more, about 2-3x. So real increase in take home is reduced, but still a decent increase that will help with a wife at home and COL continuing to skyrocket.
- Mostly in office

It feels like an easy/sure fire jump to a manager level, but not sure what that means if I'll be locked in to staying there for a while with likely less options to advance career. I enjoyed the small company atmosphere more when I previously worked in it, but it definitely comes with it's risks.

I don't know enough about the industry to give valid input to your decision from that side, but a couple of thoughts.

- If your wife is considering being a stay at home mom for a couple years, then the "small company risk" comes more into play as a potential negative.

- I think there's real value in trusting your gut instinct. We pick up things subconsciously and that's how it manifests.

One time, years ago, I felt like I "had" to take a job offer because I was leaving a bad situation and it was my first off-ramp. Something didn't feel right, but still, I was really ready to leave, so I jumped. 45 days into my new job, we filed chapter 11.

I would add one more layer to consider…

Make sure you and your wife are on the same page about reentering the workforce after the 1-2 year period. Many women end up staying home longer which impacts the short and long term earning options.

I know that's not exactly what you asked, and please don't take my advice the wrong way, but a change in her decision does impact your long term options for risk vs stability.

Lots of points above are indeed valid and need to be taken into account but one thing that I like for you is the opportunity to move from individual contributor to manager. At your present timeline in your career you are always looking to bolster your resume and that learned experience as a manger will then be able to placed on your resume and subsequently will generate more earning potential at future opportunities down the road. Nothing wrong with being an individual contributor and can always go back to being one but checking that 'management' box is key to growing a small team as it is to leading a large team with managers reporting to you one day. Plus, take the money now (but be sure to also plan for the future/rainy day/retirement/etc). No one ever says I need less money and because your expenses will invariably grow as the kids get older. And lastly, follow peace!

mm98 said:

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Make sure you and your wife are on the same page about reentering the workforce after the 1-2 year period. Many women end up staying home longer which impacts the short and long term earning options.

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This!

What do you know about the start-up company and the industry it's in? The founders, the funding behind it, etc.?

What does the exit plan look like? Are they going for an IPO or are they looking to get bought, or are they just looking to be a boutique firm?

How good is your reputation and your network if that gig doesn't work out in 6-9-18 months?

If you're considering a different job, you have to consider all jobs so, where else have you looked? Are there other opportunities that might be even better still?

You mentioned a physical office, what's the commute situation? Is it tolerable? Are you going to be able to make those weeknight sports practices and weekend games for the kids?

Is your wife willing or capable of doing anything to bring in some money while she's on the sideline from the workforce?

It could all go very well for you but if it doesn't, are you prepared for Plan B or C or D?

I was laid off from my job at a big company 6 years ago along with one of my direct reports.
I found a job immediately at a start-up and had several other jobs lined up because I have a strong set of skills and good connections in a niche in my industry. If this one didn't work out, others would have.

My former direct report has struggled to hold a job because his skills are more narrow and he's pissed off everybody he's ever worked with.

As long as you've got some backup plans, you should be OK if you take the start-up but you never know if it's going to pan out or not. At some point you do have to take a leap of faith. Good Luck!

HollywoodBQ said:

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What does the exit plan look like? Are they going for an IPO or are they looking to get bought, or are they just looking to be a boutique firm?


If you're considering a different job, you have to consider all jobs so, where else have you looked? Are there other opportunities that might be even better still?

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These 2 above is where I'd focus your time first.

The first with a sit down of the potential new company The second reaching out to recruiters and looking at similar postings online so you have a better understanding how this opportunity compares to the market. Applying to similar positions would be a good idea.

It think a third thing I would suggest is figuring out what career path are you wanting to take. I'm not suggesting that's the only path, but if you don't understand the career path based on what you are currently on and what being Comptroller will be, I'd suggest doing so. Not only in compensation and future job opportunities, but time time, travel, etc.

HollywoodBQ said:

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What do you know about the start-up company and the industry it's in? The founders, the funding behind it, etc.?

What does the exit plan look like? Are they going for an IPO or are they looking to get bought, or are they just looking to be a boutique firm?

How good is your reputation and your network if that gig doesn't work out in 6-9-18 months?

If you're considering a different job, you have to consider all jobs so, where else have you looked? Are there other opportunities that might be even better still?

You mentioned a physical office, what's the commute situation? Is it tolerable? Are you going to be able to make those weeknight sports practices and weekend games for the kids?

Is your wife willing or capable of doing anything to bring in some money while she's on the sideline from the workforce?

It could all go very well for you but if it doesn't, are you prepared for Plan B or C or D?

I was laid off from my job at a big company 6 years ago along with one of my direct reports.
I found a job immediately at a start-up and had several other jobs lined up because I have a strong set of skills and good connections in a niche in my industry. If this one didn't work out, others would have.

My former direct report has struggled to hold a job because his skills are more narrow and he's pissed off everybody he's ever worked with.

As long as you've got some backup plans, you should be OK if you take the start-up but you never know if it's going to pan out or not. At some point you do have to take a leap of faith. Good Luck!

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Thanks for the response. The company is a civil construction contractor. Initial funding is solid, but gets a little more questionable a few years down the line, hopefully by then things would be rolling. It will very much be a mom and pop type operation with a long term goal of handing off/selling to the younger equity holders or a sale.

Feel like I have a good enough reputation and network to land on my feet, could definitely work on building the network better though.

I wasn't really considering any other jobs but was contacted by the founders when the business started spinning up. Felt like I needed to settle down for a bit at my current spot so my resume didn't look like I was job hopping. Got a little unlucky with the last job going Ch 7 since I enjoyed it there and was beginning to interview for a direct report.

Commute would not be bad, and they did mention they would be open to hybrid but definitely don't see it being as flexible as I have it now. I do enjoy being home most days when the wife and kids get home, I get an extra hour or 2 with them every day that I never had before so that would be tough to move away from.

My concern is that since this will be a mom and pop, that it's going to limit my growth potential down the road. Not sure if that's an accurate concern or not since I will be very hands on and learning a ton as I go. Just not sure if it will be learning that will be conducive to future opportunities, especially if things don't work out. Let just say I won't be hands on using the latest and greatest software/reporting systems like I am to some degree now.

I do have a number though that if they hit it in a counter, it would be very tough to turn down.... not sure if that's the right way to go about it though.

mm98 said:

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I would add one more layer to consider…

Make sure you and your wife are on the same page about reentering the workforce after the 1-2 year period. Many women end up staying home longer which impacts the short and long term earning options.

I know that's not exactly what you asked, and please don't take my advice the wrong way, but a change in her decision does impact your long term options for risk vs stability.

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Thanks for your input. Just so I'm clear, are you saying that in the chance that she does end up staying home longer that I should look at the riskier/higher earning option or veer towards more stability? I know that's a personal question that everyone has their own answer to based on risk appetite, but definitely an interesting thought.

sock123 said:

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mm98 said:

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I would add one more layer to consider…

Make sure you and your wife are on the same page about reentering the workforce after the 1-2 year period. Many women end up staying home longer which impacts the short and long term earning options.

I know that's not exactly what you asked, and please don't take my advice the wrong way, but a change in her decision does impact your long term options for risk vs stability.

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Thanks for your input. Just so I'm clear, are you saying that in the chance that she does end up staying home longer that I should look at the riskier/higher earning option or veer towards more stability? I know that's a personal question that everyone has their own answer to based on risk appetite, but definitely an interesting thought.

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I think that depends on how you're wired and your personal situation

For me, it's made me less comfortable with risk.

Thank you everyone for your thoughtful responses. I'll definitely think about and talk these through with my wife.

I'll throw out an option C just to be different. Stay at current job but look to upgrade somewhere other than option B that may make the decision easier. The market isn't great right now but there are still opportunities in this space. Feels like you could do better than what is being offered at option B.

If you are still able to negotiate some, try to work in some flexible work options. 2 little kids require flexibility, even with your wife not working.

Milwaukees Best Light said:

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If you are still able to negotiate some, try to work in some flexible work options. 2 little kids require flexibility, even with your wife not working.

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Nothing worse than kids out of school, a stay at home wife that wants / needs a vacation, and a better paying job you can't get away from to do so.

sock123 said:

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It will very much be a mom and pop type operation with a long term goal of handing off/selling to the younger equity holders or a sale.

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That's a tricky one that will be very hit or miss.

My brother left his job where he was comfortable to take a leadership role in a very small mom and pop business with a steady stream of work but it was at a point where the next generation was taking over and apparently they were very difficult to deal with and didn't have a good handle on the business.

But on the other hand, some of the next generation do very well. I certainly went to A&M with lots of Business and Civil Engineering majors whose only reason for going to college was to come back home and take over the family construction firm.

Quote:

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I do have a number though that if they hit it in a counter, it would be very tough to turn down.... not sure if that's the right way to go about it though.

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It does happen that way some times.

I remember talking to an English Golf Pro in Hungary one time and we asked him how a guy from England wound up as a Golf Pro in Hungary. His answer was, "I wrote some silly numbers down on a piece of paper and they said, OK".