Taking a voluntary $10K pay cut isn't easy, but I did it, and it turned out to be one of the best career decisions I've ever made for my business analysis career.
It was mid-2006, I'd just spent $90,000 on my education, and I was making $50,000/year in a relatively easy job.
My decision might initially seem counterintuitive, but it all makes sense when you understand the longer-term career strategy I was pursuing.
I Had a Comfortable BA Job
At the time, I was in a role that many would consider ideal. It offered $50,000 a year for relatively straightforward tasks-mainly maintaining the intranet site. It was a job that didn’t stretch my capabilities or leverage the $90,000 education I had invested in.
The work was easy, the commute was short, and the pay covered my bills. But something crucial was missing. Career growth.
I Received a Job Offer
About five months into that job, I received a job offer from a company I had applied to a year earlier. The offer was $55,000, a modest increase but not the main attraction. The real draw was the potential for professional development it promised.
However, before I could leave, my current employer made a surprising counteroffer of $65,000 plus additional perks.
My Counteroffer Made the Decision Harder
The counteroffer was tempting. It was more money for the same comfortable job. Yet, I knew that staying would mean stagnation.
The job did not offer the kind of projects and challenges that would significantly enhance my skills as a business analyst.
The Dilemma:
Why I Declined the Counteroffer
My decision to move wasn’t about immediate financial gain; it was about where I saw myself in the future. I realized that to grow and achieve my potential, I needed to be in an environment that challenged me with complex problems and diverse projects.
The new job promised exposure to large-scale projects involving process re-engineering and software delivery: opportunities to engage in high-value work that was much more aligned with my long-term career goals.
How My Career Decision Contributed to My Long Term Success
Over the next five years, I engaged in a variety of initiatives that broadened my experience and deepened my expertise:
- Handling Support and Enhancement Tickets (Custom built backlog management software)
- Process Improvement for Commercial Sales Group (RFP Response process)
- Sales Proposal System Implementation (COTS)
- Process Improvement for IT Data Center Group (IT Asset Management Process)
- Process Improvement for IT Applications Group (Internal SDLC Process)
- Resource Management System Implementation (COTS)
- Supply Chain Strategy (Oracle Procure-to-Pay Gap Analysis)
Information Management Automation (Sharepoint Deployment Project) - Work Monitoring System Implementation (Custom Built Application)
- Construction Project Management (Strategy and Architecture)
- Enterprise asset management system implementation (COTS)
These experiences were instrumental in shaping my career and enhancing my value as a business analyst.
You Should Take a Value-Based View of Your Business Analysis Career
Taking a pay cut to pursue a job that offered real growth opportunities was a decision driven by a value-based view of my career rather than a time-based view. It’s a strategy I’ve come to advocate strongly in my work as a consultant and a writer.
I discuss these concepts further in the first chapter of my web book, The Career Progression Playbook for Business Analysts.
What are your thoughts on value-based versus time-based career progression? Share your experiences and insights in the comments below!
About the Author
Emal Bariali is a seasoned business analysis professional with 20+ projects executed since starting his BA career in 2005.
Emal increased his yearly business analysis income fivefold between 2005 and 2022 by enhancing his BA skills and transitioning to BA consulting.
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