To many of us of a certain generation those words recall the popular song of the early ’80s by the English Punk Rock band The Clash. In fact, I would bet that many of you are hearing that unforgettable opening guitar riff in your head right now. (If not take a listen. You might even know the riff – without knowing the song)!
But to all in the working world, those words “Should I Stay, or Should I Go?” reflect on the continued analysis of careers, where we stand, what our goals are, where we seek to be and what path we are willing to take to get there. As hiring leaders, we are also challenged with the unenviable task of trying to figure out who on our teams is having that very thought right now, especially as we sit in Q1, traditionally the busiest time for financial services hiring, and more importantly, what can we do about it?
In this article we will try to address this from a candidate’s perspective. In part 2 of this series (next month’s newsletter) we will try to address from a hiring manager’s perspective and offer some tell-tale signs to look for in your team and how to remain ahead of the game.
Career advancement is crucial in the incredibly competitive field of financial services. Professionals at all levels often face a dilemma: should they advance within their current company or is it time to seek new opportunities elsewhere? Let’s take a quick look at both paths, as the financial services industry is constantly evolving. With 2024 in the rear-view mirror and 2025 in full swing, significant trends are emerging.
Should I Stay?
Often, staying with your current employer can offer stability and growth. Some ideas to keep in mind to maximize your worth internally.
Importance of Self-Assessment: Continually evaluate your current role and skills. Understand your career goals. Be objective and honest with yourself. This reflection helps in setting clear goals for advancement.
Building a Strong Professional Network: By engaging in internal networking, finding mentors within the company, and participating in cross-departmental projects you will enhance your exposure internally.
Leveraging Professional Development Opportunities: Try to take advantage of training programs. Certifications are viewed as competence enhancers. Continuous learning is critical in today’s workforce.
Demonstrating Value: Showcase your achievements. When you contribute to the team / company’s success BE Proud! This increases visibility and opens doors for promotions. If you have to think really hard about what you have accomplished, it probably is not too much…..
Navigating Internal Mobility: Understand the company’s policies. Learn about available promotion channels. Be open to lateral moves as a means to climb the ladder. Far too often, candidates accept positions without really understanding the “lay of the land” at the new organization and live to regret it!
Effective Communication with Management: Discuss your career aspirations. Seek feedback regularly. This dialogue can inform your path to advancement.
Or Should I Go?
When to Consider Leaving Your Company Sometimes moving on is the best step. Here are some factors to consider.
Identify Root Cause of the Stagnation: Feel like you’ve hit a plateau? It’s more common than you think. Real growth happens when you push past comfort zones and seek new opportunities. Whether it’s upskilling, seeking a mentor, taking the next step is essential. If you do not see it internally…………………..
Are you lacking new challenges? According to a Gallup study from 2024, over 60% of U.S. employees feel they don’t have the opportunity to do what they do best every day. This lack of employment often leads to a major dip in job satisfaction and productivity, that can only be rectified elsewhere.
Please do not be fooled into thinking that this is only junior candidates. We often deal with leadership teams, and C-Suite professionals that also feel unfulfilled from a challenge perspective as they become “caretakers” rather than builders and then leave for greener pastures.
Are learning opportunities dwindling? Recent studies show that only a third of all employees are satisfied with the learning and development available at their current jobs. This applies across all levels as well. If you are not moving forward, then you might be moving backward. Often the best path forward is externally.
Assessing Company Culture and Values: Alignment with your values is so crucial in today’s hiring market. Thirty years ago, we barely heard the words “Corporate Culture”. Today it is one of the first things that candidates, (especially at leadership levels) ask of us when considering a new organization.
If the culture clashes with personal principles, consider finding alternatives. Finding a company whose culture and values align with yours can make a stark difference. In 2024, a study found that 58% of employees in the United States left their jobs due to poor cultural fit (source: SHRM). It’s not just about the paycheck. Personal principles matter too. When your values clash with your workplace culture, it may lead to feeling less engaged, higher stress, and reduced productivity.
Choosing the right company means looking beyond the job description. Assess the culture. Talk to current employees. Research company values. It might take some extra time, but it’s worth it for your long-term happiness and career growth.
Evaluating Compensation and Benefits
- Does your compensation package align with industry standards?
- Does it meet your financial aspirations?
- Is the job satisfaction worth the compensation?
- What is beyond the numbers that excites me?
These are critical questions to ask yourself, and there are no “cookie cutter” answers. Far too often I hear from clients and candidates that compensation should be in line with “market value”, but they fail to realize that evaluating compensation and benefits is so much more than just the numbers.
It’s also about how well they reflect your career goals, personal needs and so many other factors. Make sure your compensation package speaks to your hard work and dedication. Money used to be among the top reason for candidates to leave jobs. In 2025 it was much further down the list.
So, what did you decide? Making the Decision: Stay or Go?
Here are some ideas to help you make this pivotal decision.
Weighing the Pros and Cons: List the advantages and disadvantages. Objectivity is crucial. Avoid letting emotions dictate the decision.
The Role of Timing: Consider current market conditions. Are you ready for a change? Not just in terms of your work life, but need to objectively consider your personal life as well. None of us live in a vacuum.
Do not be afraid to seek External Advice. We are all surrounded by large circles of caring people, personally and professionally. We highly recommend consulting with your mentors, speak to career coaches, and engage with your industry peers.
Planning Your Next Steps: Create a real roadmap. Whether staying or going, your plan for career advancement needs to be just that, YOUR PLAN!
Both internal advancement and external opportunities can offer rewarding paths to professional growth. The key is aligning these decisions with your aspirations. Take proactive steps in managing your career. Only you can define your success.
Feel free to reach out directly to discuss this topic further as well as any other questions or concerns regarding the current hiring climate. I guarantee that in our call together you will leave with 2 or 3 ideas that will greatly impact your ability to find, attract, and procure the top 10-15% of the candidate pool on a consistent basis.
