Average Salary with potential career growth or higher base salary with uncertain career growth?

Currently working as a support engineer in the maritime industry (28M) with a base salary of $4.1k and shift allowance that could hit up to $4.5k before cpf (If I really chiong)
Been in the company for close to 5 years now and my bosses want to groom me for future career growth within the company (Eg: Team lead > Incident manager)

Got another job offer as technical support for the trading/financial industry with a base salary of $5k before cpf and no need work shift. But career growth is uncertain and could be stagnant for the next year or two minimum. However, it could be a good stepping stone towards the financial industry and climb even higher ( Although heard that the environment is very stressful, based on online reviews from the employees)

Which would you choose?

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Robin

20 Jul 2021

Administrator at SG

It depends on how old you are and what phase of life you are at. These factors will determine the amount of risk you want to take on your career. It is always quite tricky on whether NOW is the right time to make the switch to the 5k financial/trading job. Will you consider entering it in the near future after you have completed your stint as an incident manager?

Move or not is always about the TIMING with regards to your career plans and life stages.

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Sherwin Lim

19 Jul 2021

It’s easy to find a role that pays better but the trade off is you’ll start from the bottom having to prove yourself again and without strong political capital, it’s often hard to climb the corporate ladder as your pay goes up.

If you’re close to your current manager have a frank conversation with him about compensation. See if he can help with a market adjustment.

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