With bonus season upon us for those in the banking industry, now is the time to start exploring other opportunities. Maybe you have been satisfied with your job, but the job has lost its excitement over the years. It might have been a leadership change, a merger, or just the organization’s lack of upward mobility that drove you to read this blog. Let’s jump into why bonus time is the perfect time to move on.
Changes caused by mergers & acquisitions
With the Merger & Acquisition activity increasing over the last few years, you might be affected by this. You have been with the bank for years, and you were happy, but now the new company is entirely different. They are changing everything about how you do your job and maybe even changing the areas that drive your passion. Or your new employer that acquired your company is putting their own people in your role.
That can be so frustrating and discouraging. Keep in mind, I am not saying don’t be flexible and open to change, but sometimes that change is just too much. But now that you know what the new organization looks like, it’s time to take a serious look at the opportunities a headhunter is trying to discuss with you.
No upward trajectory
Lack of upward mobility is a real killer. This situation is one of the top reasons people are interested in making a move. Maybe you work with a strong company with a good leadership team. However, you have been in the same role for the last 5+ years (may be shorter or longer, depending on the role) and have been asking about moving up, but there is just never room. You got passed up for the promotion early on in your career because you just didn’t have enough time in the role, and now you are getting a little frustrated that you can’t move up (there are only so many leadership slots within a company after all).
But you just had your review, and maybe a smaller bonus due to Covid, and the frustrations are heavier than they have been in the past. Now is the time to call that recruiter back that reached out to you over the last three months and talked with them about their current job orders. A good recruiter will be honest with you about what they have available and how they can help you. They might not have something today, but the squeaky wheel gets the grease, so keep checking back, and something will pop up sooner rather than later. Keep in mind that a good recruiter talks to 20-40 potential candidates per day, and a great recruiter talks to 60+ people per day. So they don’t always remember every detail about you and your background, but a little patience and good communication will go a long way.
Changes in leadership
Leadership changes are always challenging. You really understand your current boss and their direct line of leadership and what they expect from you. Now, someone gets replaced or leaves, and the company brings in a new leader that is not in line with you. Leadership can be a motivation killer or driver. We all want to work with the best leaders in the world, but we don’t always have this luxury. The new leader is probably excellent, but they just don’t mesh with you, which is typical. However, this is your opportunity to move on and find the leader that fits your needs.
We all need money and want more of it, and sometimes, it drives our decisions. Either way, it’s bonus season, and the frustrations have mounted. This is the time to make that change. You have probably seen all the LinkedIn updates of professionals in your network changing jobs over the past couple of months. As recruiters, we have tons of companies looking for people right now, and they are looking for solid performers like you. So, when a recruiter, like me, gives you a call or sends you an InMail, let’s discuss what a change looks like for you.