Preparations For The New Year: Will You Be Changing Firms In 2022?

Be prepared if you're considering changing firms in 2022. Here are some tips and insights on how to do so.

Like most public finance professionals that I was fortunate to work with this year, you may have had a formidable year. The reality is starting to set in. Am I going to be compensated what I thought I was to be paid? Am I going to be shown the “love” that has been promised? Am I going to know in my heart that this is the place I want to be at the end of next year (which I sincerely hope you will feel)?  If these nagging questions are not being answered the way you had hoped for, it’s time to think. And I mean it: think about a change. Changing firms in 2022 may be in the cards for you. 

Think Before The Leap Of Changing Firms In 2022

Making a change is not something that should be done rashly, no matter what level of experience you have. Knee jerk reactions to a lower-than-expected bonus can be detrimental to your future. However, if on the other hand there is not a knee jerk reaction and you do want to consider a move in the next year, you must plan accordingly. In all honesty, at this point in the year it does not make sense to make a move by year end – unless that was indeed your plan from a couple of months ago. If it was not, take the holidays and really think about why you want to make a move. If the answer comes down to a disappointing bonus, I beg you to think more before changing firms in 2022. On the other hand, if there has been a pattern of disappointing bonuses, then that can be your catalyst to make a move. However, if this is the first time you have been disappointed, do not jump to a hasty conclusion that it is time to leave.

The Potential Damage Of Firm Jumping

I know you must be asking yourself, “Why would a recruiter be talking to me like this about changing firms in 2022?” The answer briefly is I genuinely want what is best for you and not for me. I want you to have the best career progression you can have. By jumping ship or moving just for more income can cause serious concern for potential hiring managers in the future. A pattern of changing firms is not one that you want to leave behind and have on your CV/resume. Firm jumping is probably the most asked question I must address when I share someone’s background with a hiring manager.  If I know the candidate and I am comfortable explaining the excessive movement, I will collaborate with that candidate and try to find him/her a new position. If I see a pattern of jumping and there is no logical reason for it, I will not introduce them to any of my opportunistic situations.

Preparation Is Key To Changing Firms In 2022

Now you have really thought about your reason to make a move, and you have decided it’s in your best interest to pursue changing firms in 2022. Preparation becomes the key. You have to make sure that you are 100% certain that the clients you are currently working with are your clients and not the firms’ clients. The candidates that are successful in making a move for the right reason are confident that it’s not the business card they are currently holding, but they are the catalyst for the business. The above obviously precludes your covenants not to compete terms and garden leave terms, if any. I am not suggesting here to violate any of those employment covenants that you have at your existing firm rather to wait them out. If you are comfortable business will move with you, then you have the right to entertain a move in 2022. Be smart about it, go about it correctly, and you will be pleased with the results. Go about haphazardly, and you may find yourself in the same position next year.

Conclusion

If you would like to discuss your options, please reach out for a confidential conversation at 760-477-1284 or email at harlan@hfriedmansearch.com. He can also be reached on LinkedIn. 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.