Which offer should I choose

Client and MBB exit exit opportunities Job interview Job offer offer startup
New answer on Jun 24, 2022
4 Answers
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Anonymous A asked on Jun 23, 2022

Hi everyone

 

I have 2 years of experience, and 1 of them was with BCG.

I have 3 offers:

Tamar (Startup with 26K ), Hybrid model (Remotely &Dubai)

PIF (28K with bonuses that goes up to 6 salaries), Work from site

 

Local Saudi Bank (41K with bonuses and signing bonus of 1 basic salary), Hybrid model(Remotely & Riyadh)

 

There is a big difference in the salary, I want to go with the start-up as I have a long goal to have my own startup but their offer is not the best.

 

Would it be possible to join the local bank and have the same skills to find my own startup?

Also working most of the year from anywhere is an option that the startup offers which I find to be attractive

 

Any advice would be really appreciated it

 

Thanks

 

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Francesco
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replied on Jun 24, 2022
#1 Coach for Sessions (3.900+) | 1.400+ 5-Star Reviews | Proven Success (➡ InterviewOffers.com | Ex BCG | 9Y+ Coaching

Hi there,

Congratulations on the offers.

From what you shared the startup seems the best fit but I understand the significant difference in salary.

Here are my thoughts:

  • It is unlikely that the local bank will offer the same growth skillset of the startup – unless it is a very tech-savvy local bank. You can check the profile of the workers there and the online presence of the bank to understand it.
  • I would not prioritize money at this stage of your career unless you need them urgently for immediate needs. The money difference long-term is not going to be relevant.
  • If the startup is good (please do your due diligence on founders and financial capabilities) you are basically trading skills with money. It could be an excellent deal long-term.

I was in a similar situation as you were once. I chose the option with a lower salary (a VC role) and have been very happy with that. That experience was extremely useful for me to then found my own companies and do fundraising. I highly doubt I would have acquired any similar skill with the other role.

To cover the gap in salary, I would consider the following:

1) Negotiate the compensation with the startup for the following, leveraging the bank offer:

  • The base salary
  • The signing bonus
  • The relocation bonus
  • The seniority you join 

2) Negotiate the time spent with the startup. This could allow to free-lance and get additional income.

Please feel free to PM me if you want to discuss more, happy to help.

Best,

Francesco

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Ian
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replied on Jun 24, 2022
MBB | 100% personal interview success rate (8/8) and 95% candidate success rate | Personalized interview prep

Hi there,

Congrats on the offers!

It sounds like you ultimately need to make a decision between being "safe, “cashing out” now and likely plateauing versus taking on a bit more risk and continuing to develop yourself and your career.

We cannot tell you what to do here, but you should think long and hard about your values and where you want to be in 5 years…it sounds like the startup gets you there while the bank would not, but I truly do not have enough information to tell you want to do.

Hint: Use all that frameworking you learned at BCG to create a framework for this decision

Good luck with the decision!

 

 

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Clara
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replied on Jun 24, 2022
McKinsey | Awarded professor at Master in Management @ IE | MBA at MIT |+180 students coached | Integrated FIT Guide aut

Hello!

Congrats!

Honestly, all are good, and probably you won´t make a mistake with any. 

I would encourage you to think mid and long term in your startup founding desire, and see which one fits best for that (even if now doesn´t seem the best immediate next step). 

Hope it helps!

Cheers, 

Clara

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Adi
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replied on Jun 23, 2022
Accenture, Deloitte | Precision Case Prep | Experienced Interviewer & Career Coach | 15 years professional experience
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Francesco gave the best answer

Francesco

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