Rising Star
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Be wary of chasing $$$s and titles - I’m sure there will be plenty of people responding to this thread telling you that companies don’t give a damn about you and you should just chase $$$s. And in the land of the free, that can be true (the at will contracts absolutely benefit the company more than the employee and you could be dropped at any minute), but I stuck with one company from 2006 to 2022, avoiding layoffs in 2008 from the GFC and 2016 and 2019 from post merger “synergies” and was furloughed for one month in 2020 then being the first round of people brought back. I effectively achieved this by not only being effective in my role, but also because I was never the best paid person at my level and the time spent with the company meant I’d built up great relationships with those making decisions as well as my peers so was seen as someone whose effectiveness went beyond my own role (I made the teams I worked on more effective). Whether the last statement was really true or not, I have no quantitative way of knowing, but it’s the reputation I built up that those newer to the company couldn’t match.
Over that period, I went from a Junior Product Manager making $50k + 10% to VP Global Marketing making a total comp package of >$400k. And I left of my own accord as the company continued to struggle with their own identity, making it almost impossible to be truly effective in my role
My current role running a division of a customer of my previous company has put my total comp close to $500k and came from the relationships I’d built while working from my previous employer.
TL:DR - I think there is value in staying put, but I would make sure to keep moving forward and making sure you’re not the highest paid person in your role.
Rising Star
Thank you for this response! It really paints such a different picture vs. What we see so much on social media
Disagree with above. Your subordinates should absolutely work harder than you and come to you for your wisdom and feedback and help with challenging situations. It’s who you know not what you know.
At leadership levels you need to be able to work well with other people. Yes be smart and good at what you do but that’s only half the battle. People work with people they like. Leadership promotes people that are liked. You have to be good at what you do to be liked but mainly you need to be a good collaborator and probably somewhat inspiring.
I agree with this 100%. I will tell you that according to my Boss's Boss, my #1 Strength is Managerial Courage! Now, I will tell you that it took me about 15+ years of falling down and picking myself up, but I got there!
I paid attention. I learned, the good and the bad. I took swings and failed...but I learned from it. I had mentors. I surrounded myself with super stars.
I'm always respectful, but I will tell you that I have been in a corporate walk with a of Regionals, DMs, and multiple SMs, etc.
All that actually answered a particular question said one thing, I WAS THE ONLY ONE WHO SAID THE OPPOSITE!
Everyone stopped and looked and me like I was in so much trouble!
My boss had the biggest smile on his face because he knows me.
He had no idea what I was gonna say or if I would bomb, but he always loves that I take the swing!
I was asked by this corporate VP if I wouldn't mind sharing why I disagreed with 12 other people (she stood there counting to really drive home her point.)
We talked about inventory levels, shrink, and payroll.
We all had my store's inventory and Financials as well as the company's.
I went straight at it.
I switched the game up in my favor.
While everyone else looked at year over year numbers versus plan,
I pulled out my annual P&L, however, I broke it down with my MONTHLY inventory, projected shrink, sales based on the average number of credit cards my store opens monthly, knowing that customers spend on average $45 more with credit cards versus cash.
This means that my store could cut less than half of the payroll that they've projected.
This would allow me to have more associates on the floor to provide better customer service and interactions. That means upselling the higher priced merchandise and preventing theft.
I passed out 2 pages of my P&L from the previous two years.
(I had printed enough for everyone...12 people 😊)
I asked that they take a look at the previous two years to see the numbers and growth that I was speaking of. I also said that if we were to follow the pattern of the last two years, my plan today is being a bit conservative, but I didn't want to over promise!
I actually received a round of applause!
alongside the advice below, most of which is spot on. I’d say focus on what you find exciting and like — it’s the element that helps you push you perform at a high level.
Other advice… buckle up!
Rising Star
A great point, focus on what is exciting
Jump companies while you’re young 25-40. Stay long enough somewhere to get a promotion. Move to another department to get more experience and build resume.
Coming from $60K/year to $350K/year + bonus, my recommendation is make sure you are always the top 10% in your field. My field is tech and I always make sure I am 80% tech and 20% management, even at the director level. I love America where I can learn and get professional certifications super easy leveraging Udemy, community college, and online platforms. I can also buy books with a few clicks on my kindle. Best of luck, keep learning and growing your career.
Rising Star
Thanks this is sound advice
Get really good at what you do, be personable, and don’t let your peers, subordinates or supervisors work harder than you
D1 - no, I don’t work more over time.
But, I have very intelligent people with decades of experience and big egos working underneath me that are irreplaceable (IMO). As a young partner, I can’t expect them to be busting their butts and putting in public accounting deadline hours without being right there alongside them helping out. Nobody wants to work that hard for someone who’s coasting.
Stick around for a couple years, build your resume and move on.
Ask for the promotion / raise / more responsibilities. If they aren't coming - it's time to go.
Most I know that have moved up had to move to different companies.
Sticking around a place for a long time will cost you in the long run for the majority.
Some stay at one place and are promoted to high levels, few are true experts and extremely smart, many are politically connected and promoted beyond their abilities.
This has been my experience and may not be yours
Last part is so true, people promote people they like.
I just got promoted to MD/VP level and I’m not the most competent but I am well liked / can get the job done / have a good internal network and track record. It’s sometimes wild how very competent people / former peers of mine are stuck. Just boils down to a bit of luck, timing and right bosses and sponsors.