As we head into the last month of the first quarter, more and more companies are announcing bonuses and planning for the rest of the year. With the reduction in force occurring at the major bulge bracket firms (and just being that time of the year when professionals like yourself are deciding to “kick the tires” to see what’s available out there), is there ever the right time to move? It’s a question I am often asked. Today’s blog is going to address the question; however, the blunt answer is no,
Ready Or Not
The right time to move is when you are ready to make a move. It’s that time when you say to yourself, “I am ready to ‘burn the boats’ and not look back.” Know that the only way to make the move is to make the move. Think of the legendary story of the warrior that goes to attack foreign lands as has been told in many different versions. However, in this example what you may be leaving behind will never stop. No matter when you say you are ready, there is always going to be something that you will be leaving behind that is going to cause you to take pause. You may even say to me (as I have heard so many times), “Now is not the right time to make this move since I just signed up for this great deal and it’s going to make my year, or not.”
Waiting For The Deal & The Right Time To Move
Coming to the determination that you’re ready and is the right time to move is not an easy step, especially if you are a solid producer. The reason you are able to make a move is because of just that – you are a solid producer. But solid producers, whether as bankers or bond counsels, will always have that next deal coming in. So, in essence, if you do not make the move now as you are planning to delay your response to the offer letter and think that six months from now will be different, I must share without any reservation it will not be any different. The only thing that will be different will be a new deal that once again prevents you from making a move. This, my friend, is the stumbling block that a great many solid producers find themselves in. So, what do you do to move forward?
Money, Money, Money
The professional you are must primarily look at the new opportunity differently than your current opportunity. If you are only moving to make more money, then you should not be moving. That reason alone does not make for the right time to move. Stay where you are as the cycle that I shared above will be happening as long as the market remains strong. On the other hand, if the new opportunity is going to present you with excellent growth potential, then you have to look past your current deal flow that you may be leaving and look to the opportunity that is waiting in front of you. The problems that you discussed with a recruiter are still going to be at your existing firm whether you are making more money or not. Sometimes just making a move is going to break you out of your complacency mold, I have seen that a lot as well. The new move puts a fire in your belly that has been long gone. Also, any recruiter will tell you to make a move when you are at the top of your gain and not receding from that coveted position. Again, you never know when the market will change for interest rates as well as employment opportunities for you.
It Is Time: The Right Time To Move
Most importantly the new move is going to offer you opportunities well beyond just bringing in another deal. If it’s not, then stay put. If the new opportunity puts you in a new and exciting position, then it is the right time to move, “burn the boats” and go forward. You must end the cycle. Determine that it is the right time to make a move and only look forward to new and exciting opportunities.
If you would like to discuss your options, please reach out for a confidential conversation at 760-477-1284 or email at [email protected]. He can also be reached on LinkedIn. Harlan publishes a blog every Thursday here. Subscribe to our monthly newsletter here, which is a compilation of our weekly blogs, so you never miss one. You can find our listing in the “supplier and services” section of the Red Book under the title of “executive recruiting.”
About Harlan Friedman, JD & Founding Member, H. Friedman Search LLC. Harlan is a thirty-year veteran Public Finance Banker turned recruiter who specializes in the placement of all levels Public Finance Bankers, Healthcare Bankers, Municipal Advisors, Compliance Officers, Issuers, and Bond Counsels.