As I close out my working career, I decided to reflect on what I learned over my 40 years of getting paid for my time. Think of this as the knowledge I’ll be passing on to my son.
It’s Hard To Spend Money While Making Money
This was the very first thing I learned way back when I was juggling a couple part time jobs and school. If I was tending a cash register, then I wasn’t buying shots at the bar or playing a round of golf. Now the subsequent invention of the internet (yes, I’m that old) has made it easier to spend money while working, but the basic premise remains. Working is time that’s not devoted to hobbies or vacations or other activities that drain your back account. I’ll definitely be mindful of this as I move through retirement in case I ever need to cut back spending.
Fake It Until You Make It
They say not to judge a book by its cover, but . . . come on now – that’s exactly what everyone does. I had a mentor early on in my career who highlighted to me the importance of projecting confidence. I started out in the investment management industry and it was vital for my opinions and recommendations to be made with conviction. If you come across as unsure of yourself, no one will take you seriously. Any doubt you express in words, tone, or body language is amplified in the sending. Strong and wrong is better than fright and right.
Be Helpful . . . To Everyone
I thought about just listing out the Scout Law which are all applicable to workplace conduct (save maybe being reverent), however I would put Being Helpful as the one single point that led to most of my career success. My first part time job in high school was at Thrift Drug and they were hyper focused on customer service. I was trained to go out of my way for customers. When I transitioned to the corporate world, I shifted this from external to internal customers. And I considered all my co-workers as internal customers regardless of whether my official duties had me assisting them.
My motto has always been when in doubt, help out. There are couple reasons for this. The first is altruistic: who doesn’t like doing good things? The second is that it builds up goodwill with your co-workers. When you’re operating in team environment you’re going to be asking others for help at some point. They’ll be more likely to assist you when you need it or deliver quicker if you’ve already invested some time and effort in them.
This applies to everyone in your organization, top to bottom, regardless of whether they’re part of your team or immediate function. Managing up is an important skill to have, however I’ve found that managing down and sideways to be more impactful to my performance. Building deep connections with my co-workers has allowed me to borrow their knowledge and skills to support my job responsibilities. And it all began with me being helpful first.
Your Value Isn’t Determined By Your Paycheck
I lucked into a high paying career right out of college. It didn’t take more than a couple years before I was making more than my dad who was middle management in a supply chain role. This was a very jarring realization for me. I have always had an amazing amount of respect for my father as a man and a human being. It was patently obvious that he was worth far more than me in all ways that are important. I wasn’t suddenly a more valuable member of society just because my paycheck was larger. This has allowed me look past people’s income/wealth/job title as a determinant of someone’s value and to instead focus on their actions and words.
Careers Are Non-Linear
Starting out you think of careers as a ladder. Everyone starts out on the bottom rung and then you slowly make your way up over the years step by step. In reality, careers are more like the game Chutes and Ladders. You jump up and slide down periodically as opportunities arise or family/health/life circumstances intercede. I was fortunate to treat my early career success as more of a lottery ticket than an entitlement. That’s not to say I didn’t work hard to keep my grubby little fingers on that lottery ticket! But I understood that my career was likely to take a large step back at some point and mentally prepared myself for that eventuality. Stay flexible and be open to what life sends your way. Sometimes a step back will put you further ahead in the long term.
De-linking Self-Worth From A Job Title
And did my career ever hit a chute! I went from being a Vice President* at JPMorgan responsible for providing corporate bond recommendations on hundred million dollar investment positions to an accounts receivable clerk for a modest sized manufacturing company. My compensation was slashed according to my drop in responsibilities. Thankfully I had already learned that my worth isn’t determined by my paycheck (see above) or this would have been a massive hit to my self esteem. Instead I focused on being the best AR clerk I could be and took pride in that. A lot of times you can’t control the job you end up with, but you can always control your attitude and effort.
* It’s worth noting that VP in finance isn’t a very impressive title. Frankly, they give them out like candy on Halloween. If I remember correctly, the progression goes intern -> analyst -> VP -> Director -> Sr. Director.
Triple Check That Your Mic/Phone Is On Mute
Actually, you should probably go check it again right now.
Wait For It . . .
Virtually all of the power in the employer/employee relationship rests with the employer. They decide whether you can work at the company or not. They decide when your role is no longer needed. They set your pay, benefits, and work conditions. Promotions and career progression are largely at their whim. Now there are limited exceptions to this where the leverage shifts to the employee. Maybe you’ve picked up additional job responsibilities or landed an important project. Or possibly your team was reduced and your workload has doubled. Whatever the source it’s vital you utilize this for improved compensation and/or better work conditions. You need to be the one to initiate the discussion as your employer is never just going to give it to you out of the kindness of their heart. As if. You own your pay, not the company. This isn’t something you can do every year and you absolutely need to know your value, however my experience is that employers will be receptive if approached in a respectful manner.
Assume Your Boss Reads Everything Your Write (Hi, Eric!)
Think of this as the Miranda Rights for workplace communication. Anything you write can and will be used against you at the most inconvenient time. Whether this is email, shared documents, chats, etc. It can either be forwarded directly from the application itself or indirectly via screen captures. Assume it will be no matter how much you trust the recipient. Many employers also now utilize key logging software to keep track of employees. When in doubt, leave it out.
I’ve practiced lifelong learning throughout my work career including many smaller lessons over the years not included here. I’m excited to continue this during my retirement.