Up for manager but currently staffed in an Intern-like role, grossly under underutilized and starting to feel the client feels I'm a waste of money (I agree). How do I make the most of my situation?

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Swap to another gig - if you are up for manager you have to be doing the managers job 8 months ago.

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Turn your intern like role into a manager type role. Offer to own things and take initiative in getting things done. Status reports, on boarding, great place to work, etc can all be things to be in charge of to help you seem like you are in a role that is developing people or full of responsibility.

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Be proactive and ask the client for other ways you can help. There has to be something.

Get out and find a new role. If you have a network and can reach out, it will strength your case.

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