Would you leave a stable bank job for a higher-paying remote fintech role?
I’m looking for some outside perspective on a potential career move.
I currently work in technology at a large financial institution in Canada. I’ve been there for several years and earn roughly $135K CAD base, plus a bonus, benefits and a retirement match.
The job is relatively stable, but I’m starting to feel stagnant. There has been more offshoring and restructuring, and I’m not sure staying longer will meaningfully improve my skills or earning potential.
I’m now interviewing for a fully remote identity and security engineering role at a private fintech company. The work sounds more modern and hands-on, and the remote setup is appealing. However, the company operates in a more volatile industry and has had layoffs (less than the financial institution though), 150 last year at prospective employer vs 2500 at current), so I assume the risk is higher than at my current employer.
I don’t have a final offer yet, but I’m trying to decide what compensation would make the move worthwhile. I’m thinking I would need at least $175K CAD base, plus bonus, equity and decent benefits.
The company also offers flexible or unlimited PTO rather than a fixed vacation allowance. I’m curious whether that is genuinely a benefit or whether employees often end up taking less time off.
For anyone who has moved from a large, established company to a private fintech or tech company:
- Did the increased compensation and career growth justify the reduced stability?
- How much of a pay increase would you require?
- Is flexible or unlimited PTO generally a benefit or a red flag?
- How much weight would you give to equity in a private company?
- Would you make this move while planning to apply for a mortgage within the next year?
I’m not desperate to leave, so staying where I am and continuing to interview is also an option.