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Work advice- To stay or to go [#permalink]
15 May 2006, 13:14
I have been a financial analyst at a small ($100 million) food manufacturer for the past 6 months. Recently I started looking for another position due to my discontent with the leadership, and was offered a position as an entry level analyst at Boeing. The Boeing position is a 3 year rotational program consisting of 3 different assignment within Finance / Accounting. Most likely I will work in the following area:
-Estimating & Pricing
-Contracts or Financial Planning & Analysis
The pay is slightly more(5%) than my current salary but comes with allot of ancillary benefits such as vacation time, matching 401K, educational assistance, 40 hr/ work week with overtime pay, comprehensive medical, dental and vision insurance, and the BOEING name.
After I notified my current employer of my resignation, they counter offered to bump my salary by 30%, increase my vacation to 2 weeks, qualify me for the 401K, and move me into the Accounting Manager position within 6-9 months. They are also open to any suggestions I have regarding improvements that could be made to better the organizational processes and environment. In short they are promising allot and I feel that most of it is genuine. However the owner of the company is uneducated, lazy and lacks strategic vision which is resulting in the company bleeding a lot of red. I worry about the future of the company.
What will be valued more, or what do you feel would be the best move?
My goal is to gain admittance into a top 10-20 MBA, spend 5-10 years at a consulting (Marakon, BCG, Bain, McKinsey) or IB firm(Lehman, EY, or mid market firm), then start my own company with the skill set acquired from my work experience.
I have respectable educational credentials, 3.62 GPA with a Major GPA of 3.91 in Finance, and am confident that I will score 700-720 on the GMAT.
I kind of see these as two sepaate decisions. What I mean is that if you're truly unhappy with your current company, then don't stay, period. That's separate from "What should I do now to help get me into a top MBA program?" My personal opinion is that, even if ths company offers you more money, bumps up your vacation, etc., you'll still be unhappy six months from now. So, you should probably go. The person who's saying "Tell us how to change, and we'll change!" is probably sincere, but he/she can probably only do so much. A year from now, I bet very little will change. It all starts and ends with the company's leadership.
Having said that, the Boeing progam does sound like it could help you more in terms of getting into b-school. Don't focus on the name as much (that matters less than many people think), and focus more on your job, what experiences you will gain, what opportunities for advancement you will have, etc. As long as you think you have the patience to stick with it for three years, it could be a good experience for you, and could help you a lot in terms of getting into school.
As an aside, you may want to ask Boeing if they have any programs to sponsor people for their MBAs. Just a thought.
Thanks for the insight. I was thinking along the same lines and have decided on Boeing. The only concern of mine is if I will receive the kind of advancement, responsibility, and to a lesser extent compensation, that I need to reach my goals. My hope is that as long as I am proactive enough at Boeing, I can make it happen. In addition, as such a large company, there must be significant growth room if I can effectively convey my value and potential.
Regarding the MBA assistance, Boeing has a comprehensive educational assitance program which pays for almost everything.
Good. Sounds like the right choice. As for opportunities, it's definitely up to you. It almost goes without saying, but that's the kind of initiative that b-schools look for. So, it's up to you to make it happen. Good luck!