If you don't think there's much potential at your current firm, even if you make it to manager level, then you'd really only be staying on there until you picked up a better external offer. Would you be prepared to gamble and stick it out a little longer in the hope that something better comes along? Assuming not (for the sake of argument), after your second post I would be inclined to suggest you take the offer. It's a shame about the money, but this is, obviously, not the be-all and end-all. Of course if you do secure the promotion this will only be a short-term concern and in the meantime you'll be moving forward in other ways. Regarding your longer-term aspirations, you must be near/ just over 30, so time isn't on your side. This move would arguably take you closer to M&A/PE, but you would still be a long way off (the others that transferred into this area from ITDD, were they ACAs rather than IT specialists?). If you really want to make such a move, perhaps it may be worth considering an MBA instead (in the expectation that this would provide you with significantly more opportunity to jump into a new area).