- Work at a subsidiary of a very large company, mostly in pricing speciality/commercial lines. Very underwriter focused business.
- Recently promoted in this role to a pricing manager, overseeing about 4 juniors (hard work!); promotion was in name & salary only; been doing job for past 2 years.
- Been in the company 4 years
- c. 5 years experience
I interviewed at a large consultancy (non big 4) a few weeks ago and have got an offer to join on at a senior manager level ; focusing on commercial/speciality lines pricing & consulting. Offer is better in most ways to my current role, larger salary, bonus etc.
I’m having troubles choosing between the two roles. Part of me wants to try something new (hence why I applied in the first place), and it will be a step up in a new industry that I haven’t tried before. I find myself relatively bored in my current role, I’ve learnt a lot in the time I’ve been here but the work is now relatively mundane (doing the same old pricing large accounts, model reviews etc.) and the only challenge now is with training the junior members of the team, which is rewarding but is exhausting to do all the time. In theory, once they’re trained up it should free up some more of my time for interesting projects; but I am not sure.
Pros of new place:
- Variety of work
- Relatively new department in the consultancy, could work out nicely if they gain traction
- Bonus somewhat under my control, which I like - current bonus structure is such that my performance has no impact on what im paid
- Generally has very smart people in the team which I think will push me a bit further as I’m still relatively young in my career
- Heavily involved in data analytics etc. which I have limited experience in. Thinking this may be a big sell if I then want to move back into industry
- Sales aspect of the role could be rewarding
Cons of new place:
- Could be giving up something good for something which sucks e.g. may have terrible work life balance at the consultancy
- The variety of work may not be as varied as I think: e.g. if all the work is building pricing models for clients and that’s it - that would get boring after a year or so max. I have asked them this and they said no, and a third of the job will be portfolio management & portfolio reviews, but I am not sure until i get there.
- Not being able to work with underwriters; I really enjoy this aspect of my job and underwriting is something I could get into later in my career; moreso from a technical/portfolio management point of view.
Ultimately I do see myself in a company long term, but I am just wondering if having a stint in consulting/something different could be worthwhile. Any opinions/experiences?