I got a decent offer from a relatively small regional bank (around 1,000 employees) but I'm reluctant to accept. I can't figure out why I'm not jumping at this opportunity since I know that realistically, my job can't be less safe there than it is here. Has anybody here made a similar switch at some point in their careers? Was it a good decision or something you regretted?
13 replies (most recent on top)
Of course this may vary by job/discipline but I moved to a smaller regional bank recently, and it's still early but I really like it. There is half as many layers between me and the CEO as at Wells, so much more visibility and a sense (fingers crossed) that doing good work will be noticed and rewarded. Occasionally I am surprised by something they don't have, especially online tools that all the huge banks have had for some time. Pockets aren't as deep as at WF, but there's much less process and friction to getting work done, so I'm fine with that. Best part is the culture and tone. When you are surrounded by low morale and infighting it kind of becomes your "norm", so I have really been struck by how little angst etc there is. Refreshing.
Of course, there's a lot of consolidation going on amongst regional banks, so that's a risk. But I wouldn't think it's as high as the risk of layoff at Wells. Plus, as I mentioned... the upbeat vibe and lack of drama is worth something.
NO REGERTS!!!!!!
My dream is to get back into a smaller bank. I worked at two of them and I enjoyed it more than the larger banks. Like someone else stated, you learn more and do more in smallest banks and the people become family.
Unfortunately in my position, I don't see many advertisements in small banks anymore but if I do, I am applying. It's what I prefer.
Smaller banks have you doing actual banking, where you actually have to know finance. It's far more challenging and can be very rewarding if you own shares and help grow it. My wife worked for a regional while I grinded away at WF, I still made more but she wasn't miserable every day. We kept the shares after she retired and they've outperformed WFC 10-fold.
Take it.....get away from the acid bath that Wells Fargo is.......there can be no company more caustic. Congratulations on the offer.
OP - congratulations! Best wishes on your new adventure!
Thanks all for your responses. My wife and I have been talking about this the whole weekend, weighing pros and cons. I'm going to accept the offer. I'm still worried, but it's worth the risk.
well, i didnt switch to a smaller company, nor was it a bank. I did move to a company with 800k employees, and I 100% made the right choice and no regrets
it's really important to not just run away, but be clear and conscious about what you're going to.
The first response on this thread provided some good questions to start your due diligence.
And no corporate job is ever safe, anywhere. Your odds are better though if the company is profitable and has a track record of sound management and consistent strategy.
I'm switching to a regional bank, couldn't be more excited for the change!
Can everyone stop talking about job safety. It is a myth. No job is safe.
The only thing that keeps you safe is the skills, experience and networks you build that makes you valuable
I did 6 months ago. I sleep like a baby now and actually look forward to Mondays.
You'll get both kinds of responses OP, so I'm not sure it will be helpful. I look at offers like this:
- Does it pay more (total comp including benefits I actually use)
- How stable is the company/role.
- Does the role/tasks seem rewarding.
- What are the growth / promotion opportunities like?
- Does the boss seem like an upgrade?
That's about the best you can do...and some of it is guesswork–youll never know the people well until you work there.