A lateral move, on similar pay or at the same level, can be a step forward if it gives you experience that’s hard to gain in your current role. In infrastructure, that could mean going from advising on deals to helping decide which ones to invest in.

Before deciding whether to move, ask what you’d be doing differently a year from now. The answer should tell you more about the opportunity, and your career progression, than the job title does.

When can a sideways move help you progress?

If you’ve worked in advisory, you may already know how to assess a deal, explain its risks and make a recommendation. Moving to an investor lets you see how that recommendation holds up when the team has to commit capital and take responsibility for the asset afterwards.

Investors often like to see experience of equity investing, or having “skin in the game”, rather than advisory work, where it’s someone else’s money. Advisers also work to a different rhythm. Their deal horizon is much shorter, and it’s hard to predict workload more than about six months ahead, whereas major infrastructure bids can take years. That tends to make senior advisers more entrepreneurial and always looking for the next deal. In our experience, that’s one reason this move works more often than not.

Whatever the job title, the experience worth looking for is involvement in the decisions. If a role is billed as a move into investment, ask how much of the work involves evaluating opportunities, contributing to investment decisions or working with the team after a deal closes.

Taking a role on similar pay to gain investment experience

Illustrative example: An adviser has spent several years carrying out due diligence on infrastructure deals. They’re offered a role at an investment fund on similar pay. The appeal is that they’d help take deals through internal approval and stay involved after completion. Before accepting, they ask the hiring manager to talk through a recent deal and explain where someone in their role would have contributed. That helps them see whether the job offers the experience they’re looking for.

Investors like to see experience of, or exposure to, putting capital at stake, not only advising on it.

What experience can you take into your next role?

Find out what the organisation plans to invest in, what it has already delivered in the sector and which opportunities it sees in the markets where you’d be working. Ask how the team is structured and who would make the decisions you’d like to be involved in. A recent example can help you see how those responsibilities are shared in practice. Ask, too, about mentoring and progression, and look for specific examples rather than general promises.

Then weigh up what you’d be giving up. Similar pay may be an acceptable trade-off for the right experience, but travel, relocation or a less stable role can change the calculation. Be clear about which trade-offs you’re comfortable with and what you’d need to see to make them worthwhile.

When might staying put be the better option?

Before looking elsewhere, ask your manager what projects or deals are coming up and what you could take on. If pay is your main reason for looking, have that conversation directly. We wouldn’t normally take things further unless you’ve already raised it with your manager and it hasn’t led anywhere. A counteroffer may change your salary, but it’s worth asking whether it would also address anything else that prompted you to look. It helps to decide in advance what would and wouldn’t change your mind, particularly mid-career, when counteroffers can complicate a move.

Getting the experience you want without changing employer

Illustrative example: An asset manager is considering a move because they want more exposure to investments and origination. After speaking to their manager, they find out the investment team is reviewing a potential acquisition and needs someone to assess the operating assumptions. They agree which part of the review they’ll own and how they’ll feed into the recommendation. That gives them a way to test their interest in investment work before deciding whether to leave.

A checklist for weighing up a lateral move

• What decisions or responsibilities would I take on that I don’t have today?
• What has the hiring team delivered, and what work would I be joining?
• Could I gain comparable experience with my current employer?
• What would I give up in pay, stability or flexibility, and would the experience justify it?
• In a year’s time, what would tell me I’d made the right move?

If you’re weighing up a sideways move, get in touch with Largo Jackson for a confidential conversation. For a broader look at your options, read Planning your next move in infrastructure. You can also explore our career advice and mentoring.