Is this worth the risk?

TNGL · 23 Dec 2016 at 21:49

Current situation: Recently secured a graduate role at a large consulting firm, however, I've also recently been invited to attend an assessment centre (the final stage of the application process) for a commodities trading graduate role. The latter pays around €55k + bonus whereas the former pays £41.5k with no bonus. It would also seem the commodities grad scheme has a very clear cut career path and looks more interesting.

The dilemma: The assessment centre is 2 days long and takes place in Germany (I am based in London), however, I have an exam on the afternoon one day before this and I have an exam the next morning immediately proceeding the AC (the AC ends around 3pm the day before the exam).

The risks: Flight back is cancelled/delayed - potentially miss the exam. Lack of time to prepare for the AC - so is it even worth attending in that case? Distraction from preparing for the exams.

Mitigants: Odds of a plethora of flights between the AC ending and my exam being cancelled are small and it is unlikely to happen (touch wood). Realistically speaking, I don't need anything higher than 50% in these exams to ensure I get a 2:1 overall this year and I could try to make up for any lacklustre performance in other exams (but I'd much rather try to get a first in them). I do have another AC secured at a different, London based firm, for a role that will pay around the same as the commodities scheme which is also very interesting, but I do not know whether I should risk narrowing my potential options down by completely pulling out of the other scheme.

Question: Is it worth the risk? I'm somewhat content with what I've already secured but the prospect of a slightly more exciting and rewarding career is also very tempting.

bloodiedathame · 23 Dec 2016 at 22:03

I wouldn't chance missing the exams. I assume, as with most exams, you've been working towards them for some time.

Nazca · 23 Dec 2016 at 22:06

Focus on the exams. Jobs will always come up. If you miss/screw up your exams, your chances for getting the jobs you want reduces.

wesimmo · 23 Dec 2016 at 22:09

As it's your first "real job" also consider which you are most likely to be good at.

I took a much better paid job selling financial advice as my first job rather than follow through with what I had a degree in.

So while i earned relatively good money for a short time, I did waste a few years figuring out I wasn't a salesman and never saw my earnings increase as they might have in another role.

dowie · 24 Dec 2016 at 00:48

Tingle said:
The latter pays around €55k + bonus whereas the former pays £41.5k with no bonus.
[...]
I do have another AC secured at a different, London based firm, for a role that will pay around the same as the commodities scheme which is also very interesting, but I do not know whether I should risk narrowing my potential options down by completely pulling out of the other scheme.

I think the bigger risk here is choosing the wrong role in a general sense. You don't even mention what the third role is, only that it is 'interesting' and that the starting salary is similar to another role.

Starting salaries are (within certain bounds) are not really worth fussing over, as far as compensation goes you ought to look at the career as a whole not what your year 1 earnings will be - you're going to be pretty much next to useless to the company in your first year at lots of these places anyway.

Figure out what sort of role you'd like to pursue and then set about doing that - interviewing for two very different roles and wondering whether to go to one of them suggests you're not really passionate about either.

TNGL · 24 Dec 2016 at 01:12

dowie said:
I think the bigger risk here is choosing the wrong role in a general sense. You don't even mention what the third role is, only that it is 'interesting' and that the starting salary is similar to another role.

Starting salaries are (within certain bounds) are not really worth fussing over, as far as compensation goes you ought to look at the career as a whole not what your year 1 earnings will be - you're going to be pretty much next to useless to the company in your first year at lots of these places anyway.

Figure out what sort of role you'd like to pursue and then set about doing that - interviewing for two very different roles and wondering whether to go to one of them suggests you're not really passionate about either.

The other role is structuring at an IB within their global markets function, which is something the commodities scheme entails as well. However, I've been put off by banks recently due to the lack of job security (which I guess to some degree is reflected in the pay). The main overlap is they're both market oriented and the commodities scheme entails structuring which is something I have a particular interest in. It also seems like there's more stability with energy firms than banks. I can see both of them leading to solid careers, though the banking role seems like it has slightly more volatile prospects.

HangTime · 28 Dec 2016 at 23:13

I don't practice what I preach, but there is an argument to suggest that preparation for an exam is a process that takes place over the preceding weeks and months, not hours and days. I wouldn't dismiss the AC out of hand as you should be able to prepare adequately for the exams either way. At current exchange rates the €55k+bonus+more_interesting+career_path definitely seems more appealing.

Quartz · 28 Dec 2016 at 23:23

Tingle said:
The dilemma: The assessment centre is 2 days long and takes place in Germany (I am based in London), however, I have an exam on the afternoon one day before this and I have an exam the next morning immediately proceeding the AC (the AC ends around 3pm the day before the exam).

If they're serious about assessing you they'll reschedule.

Mr^B · 29 Dec 2016 at 09:21

As has been said, do NOT go chasing the starting salary. They will have multiple AC sessions and will be able to reschedule you if you state your reasons (which are reasonable reasons).

I also wouldn't count on job security as a factor in either of those destinations. Gazprom, for example, just had a fairly large round of redundancies.

Go with what you think you'll find the most interesting. If you don't find it interesting your motivation will suffer and there's no better way of killing your career than working in a job you hate.

TNGL · 29 Dec 2016 at 18:11

I've decided I will attend the AC and so my flights are booked. This is the only one they are holding for the programme and considering the amount of planning that has to go into holding one, they won't reschedule it just for me.

Starting salary aside, the work does seem very interesting and I've been researching it more over the last few days. There are also good exit routes whereby I could work in a bank at a later stage, should I wish to. The rotations are fantastic and there's a fair amount of flexibility in choosing them too, in comparison to the other schemes.

HangTime, you are right about preparing for an exam. It is something I do over a number of weeks as opposed to just a few days. It is just the risk of potentially having my flight cancelled or some other disastrous event occurring that would prevent me from getting back to London before my exam, that was making me have additional second thoughts.