Facing a career choice

[devildog2067]

So I'm 8 years into a career in consulting, and looking at the next promotion step. I've been offered the opportunity to specialize in my topic of interest (Aerospace & Defense) and be the sector expert for the firm. It's a job I know how to do, that I like, that has a ton of flexibility, that pays really well, and (literally) my days are spent thinking about airplanes and rockets and weapons systems.

On the other hand, I've been asked to come help a fairly well established technology company build a new business in an area I know pretty well (auto). Pay is a bit less than I make now cash, but with equity and stuff it could be more. And the idea is that whoever gets hired for this job is in the line of succession for the guy who runs the overall business, so with some luck I might move into a management role for a multi-hundred-million-dollar P&L in the next 3-5 years.

The real question I'm facing is, what do I want to be when I grow up? If I am content with being a business advisor, then the A&D expert role is basically as good as it gets. But I'm almost 40, and opportunities to actually run something will become fewer and fewer as I start to get senior in consulting. 5 or 10 years from now that door will be closed. So if I think I want to be the CEO of something someday, now is the time to make the switch.

What does the braintrust here think? My ego says I want to be in charge but my brain says getting paid a lot to give advice is an easier, less risky, more fun and will probably give me more time with my family while the kids are young.

[BamaBud]

Running the show is just a wishful maybe at this point. It is great and rewarding IF you get there.

If you don't make it, would what you sacrificed be worth it?

The safe route seems to be advising, and making bank off your earnings. Just pay yourself first and sock away what will see you through your later years.

[Geko45]

My advice is to not grow up. keep doing what you love. If it's a senior management position at a company doing what you love then that's one thing, but if it's not then stick with what you got.

Sent from my Nexus 6P using Tapatalk

[M&P15T]

26 minutes ago, devildog2067 said:

....opportunities to actually run something will become fewer and fewer......

Running something is grossely over-rated.

It's stressful, and usually long hours. YMMV.

Edited April 18, 2019 by M&P15T

[Moshe]

Do what you love, and are good at.  Few people get that chance in this world.  Grab it, and run with it. 

[Sigobsessed]

Coming from someone that used to be in management, it is highly stressful! It usually comes with long hours that are not compensated! I drive a lowboy moving heavy equipment. Low stress job and  I get to play with big toys!!

[janice6]

42 minutes ago, devildog2067 said:

So I'm 8 years into a career in consulting, and looking at the next promotion step. I've been offered the opportunity to specialize in my topic of interest (Aerospace & Defense) and be the sector expert for the firm. It's a job I know how to do, that I like, that has a ton of flexibility, that pays really well, and (literally) my days are spent thinking about airplanes and rockets and weapons systems.

On the other hand, I've been asked to come help a fairly well established technology company build a new business in an area I know pretty well (auto). Pay is a bit less than I make now cash, but with equity and stuff it could be more. And the idea is that whoever gets hired for this job is in the line of succession for the guy who runs the overall business, so with some luck I might move into a management role for a multi-hundred-million-dollar P&L in the next 3-5 years.

The real question I'm facing is, what do I want to be when I grow up? If I am content with being a business advisor, then the A&D expert role is basically as good as it gets. But I'm almost 40, and opportunities to actually run something will become fewer and fewer as I start to get senior in consulting. 5 or 10 years from now that door will be closed. So if I think I want to be the CEO of something someday, now is the time to make the switch.

What does the braintrust here think? My ego says I want to be in charge but my brain says getting paid a lot to give advice is an easier, less risky, more fun and will probably give me more time with my family while the kids are young.

What do you really, really, enjoy doing?  Sometimes the thing we choose because it offers more cash and authority, take more from us than it gives back.

My son has two degrees and thought that being a Director of a company would be "nice".  Then he found that he spent all his time as a nurse maid for adults that behaved like children.  A few years of that and he went back to Engineering.  He found that the enjoyment of the career for him, was in the sense of accomplishment he got from the creativity.  He hated having to hear people bitch and complain about issues that they could have easily solved themselves.

[kerbie18]

I would go with the first choice, in a heartbeat. Playing around with rockets and airplanes is every little boy's dream. There is also the possibility you get to blow stuff up. Don't underestimate the cool and fun factor in making your choice, the money is secondary. Plus, the cool factor is a total winner with the kiddos or even grandkids.

 

[Moshe]

10 minutes ago, Sigobsessed said:

Coming from someone that used to be in management, it is highly stressful! It usually comes with long hours that are not compensated! I drive a lowboy moving heavy equipment. Low stress job and  I get to play with big toys!!

Yes, it is.  I spent a good chunk of my career being an Acting Supervisor.  You are stuck between middle management, and the guys you have to go back to working with.  You know you have succeeded when a six foot five wall of muscle throws a tantrum they aren't going to follow your directive, and ten minutes later comes back and is contrite.  You have to make sure the airplanes run on time coming to and from with illegals.  I think at one time, I had 250 coming into the facility with 150 flying back to their country at the same time.  The management above me was not going to accept any flaws despite the process of moving people in and out, and I had detailers from other districts to work with, one all the way from Alaska.  So, when it goes to crap, you hold the bag.  But, on the bright side, you get to tell some pushy schmuck at the District Office, what you were not taking their garbage, and try again.  I have had a "You're going to take this group," and a reply, "No, I am not, find another space," Acting Supervisor Me.  That is always satisfying.  When you do it for an extended period, it is hard to get back into the grove again.

[janice6]

10 minutes ago, kerbie18 said:

I would go with the first choice, in a heartbeat. Playing around with rockets and airplanes is every little boy's dream. There is also the possibility you get to blow stuff up. Don't underestimate the cool and fun factor in making your choice, the money is secondary. Plus, the cool factor is a total winner with the kiddos or even grandkids.

 

I chose this also.  I have never regretted it for my whole 40 year career.  The bottom line is what pleases you most.  Many time it isn't what we thought, after we invest some time doing it and find out the dirty little crap you have to deal with.

[BMyers]

I think I would be talking to my wife and not to a bunch of strangers on the internet. My wife knows me better than anyone and knows the family needs. Yet, that is just me.

[Ricordo]

Quote

will probably give me more time with my family while the kids are young

I think you answered your own question right tham thar.

Let me put it this way. AFAIK, no one on his deathbed ever muttered, "I wish I had spent more time at the office".

 

[tous]

Best wishes, amigo.

[JTMac]

The question is really "What is your goal in working?"

If it is just to make money, then it's a gamble.  

If it is for personal satisfaction, do whatever your ambitions desire.  You are highly employable if things go bust.

If you are working to advance something on your personal life, do whatever helps that.  Money, time, resume experience, whatever.

If it is all of the above...  You can do anything at any time in your life.  Except spend time with your kids.  (Although, executive management's long hours can be flexible...)

[Dric902]

Do what you love to do...find a way to make a living at it...never work a day in your life

.

[Peng]

Do what you love, doesn't sound like a financial decision really.  Flip a coin and you will know what to do before it hits the ground.

Spent 20+ years in the auto biz.  It is pedestrian (no pun intended), and mind numbing in the end.  

[willie-pete]

If you like what you are doing every day, it’s not really a job.

[TBO]

Go with the brain.

Best wishes for you whichever path you choose.

Sent from my Jack boot using Copatalk

[devildog2067]

4 hours ago, Geko45 said:

My advice is to not grow up. keep doing what you love. If it's a senior management position at a company doing what you love then that's one thing, but if it's not then stick with what you got.

That's a good point. If it was a company that did rockets or aviation would I be more excited about the running a business option? Probably. But the consistent reality of jobs like that is, the sexier the industry and company, the less it pays and the harder they work you. The gold mines are always in the companies that do boring stuff.

[devildog2067]

3 hours ago, BMyers said:

I think I would be talking to my wife and not to a bunch of strangers on the internet. My wife knows me better than anyone and knows the family needs. Yet, that is just me.

I already know my wife's opinion. Thought I'd ask this group. Some of the folks who have chimed in here, I've been reading what they have to say for almost 15 years now.

[SigMan]

I don't come from a business consulting background, but I was faced with a similar decision not too long ago.  I don't know the details of your consulting gig, but I expect it's generally a pie eating contest where the reward is more pie.  The compensation is good, but generally capped.  And you always have to be worried about maintaining a book or staying in the good graces of those with the business.  That doesn't get easier as you get older.  I personally hated that particular kind of stress. The work was great, but I didn't care for the pressure to generate business.  

My decision was to leave a law firm for a position with more freedom and upside potential.  So far it has worked out well, and I'm glad that I made the move.  The stress is still there, but different.  I can always go back to a firm, so the change didn't necessarily feel permanent.  In some ways, I'm more marketable in my old job now.  

If you want to be a CEO of a midsize or larger company someday, you should probably make that move now.  As someone your age, I can say that we are kind of running out of time as you recognize.  If it doesn't work out for whatever reason, you could probably go back to consulting.  You are now in your professional prime, and the time to make moves is now if there is something else that you want. 

Of course, my feelings on the matter may not be all that helpful because you seem to view your current job a lot more favorably than the new opportunity--easier, less risky, more fun, and more family time.  That more accurately describes my current job.      

 

[devildog2067]

1 hour ago, Peng said:

Spent 20+ years in the auto biz.  It is pedestrian (no pun intended), and mind numbing in the end.  

Yeah, it's not just auto, it's actually auto insurance and collision repair.

[devildog2067]

3 hours ago, Ricordo said:

I think you answered your own question right tham thar.

Let me put it this way. AFAIK, no one on his deathbed ever muttered, "I wish I had spent more time at the office".

Issue here is, historically in this consulting gig I've worked a lot of hours and been on the road a lot. I've been promised that switching tracks (I'd be switching from the equity partner track to the topic expert track) will really reduce my hours and travel, but promises are cheap.

Other job, on the other hand, says it's a 9-5 and no travel -- but I've run things before, and when you're the person responsible for the overall performance of a business there's no such thing as 9-5. If something happens your phone rings and you gotta deal with it.

Edited April 18, 2019 by devildog2067

[devildog2067]

3 minutes ago, SigMan said:

If you want to be a CEO of a midsize or larger company someday, you should probably make that move now.  As someone your age, I can say that we are kind of running out of time as you recognize. 

That's really what I'm trying to figure out, ultimately. 10 years ago I would have jumped at a path that might lead to CEO. Now I think my 10 years ago self had no idea what that entails.

[SigMan]

1 minute ago, devildog2067 said:

That's really what I'm trying to figure out, ultimately. 10 years ago I would have jumped at a path that might lead to CEO. Now I think my 10 years ago self had no idea what that entails.

It’s not an easy decision. I moved in that direction although for me it’s more realistically a GC position.  I came to realize that I enjoyed being the one to call the shots. I still find myself occasionally looking at the MIT Executive MBA program, but that path doesn’t make a lot of sense for me.