Betting On Yourself

About two years ago I was faced with a tough decision. I was working overseas on a project in Rome, Italy, in the career of my dreams, sipping Italian wine every night anddd living from paycheck to paycheck. Ouch. Yes, this was my reality. At the time I was working as a consultant for a financial software company. This was my second job out of college and unfortunately, I was being paid as if I were still a recent graduate. At the time, I was almost at my three-year mark of working for this company and despite promotions, changes in job titles, and more responsibility, I was still making only a measly $7,000 more than what I was hired for. My job title had changed from Analyst to Senior Analyst, to Consultant and after this year’s round of yearly reviews, I was promised a promotion to Senior Consultant (which also meant a Senior Consultant bump in salary).

Fast forward to performance review decision time (while I was in Rome, Italy), the time of year when your yearly bonus and new promotions come out. I received a mere 2% bump in salary and no Senior Consultant promotion. My actual cost of living had gone up more than 2% in the past year so this was more than disappointing, it was unacceptable.  My manager blamed it on the sales’ team failure to meet expectations and assured me that I should make Senior Consultant in the coming months. This bad news was sandwiched between a bunch of praise (You’re a Rockstar, Camille! You handle every project we put you on!) and a bunch of corporate fluff (But unfortunately corporate is scaling back on bonuses and salary bumps due to our poor sales in Q4).

Question: What does the sales’ team underachievement have to do with me and my performance?

I’ll answer: Not a damn thing!

After receiving this news I wasn’t hurt or frustrated, I was angry. Here I was, working until 9pm overseas leading a project with a bunch of angry Italians and barely having any money for food because I had to wait to be reimbursed for my per diem. I was upset because I knew the value I brought to this company greatly exceeded my take-home pay. As a consultant, they were contracting me out at rates of $250/hour yet I was bringing home less than an 8^th of what I actually generated for the company.

At this point, I decided to reach out to a recruiter I’d met on LinkedIn. I explained to her how I was ready for a change and she had a great opportunity in mind. Because I loved consulting so much, I was only interested in other consulting opportunities. However, she was intent on having me interview for a different position – Pricing Analyst. I took one look at the job description and thought “hell no!”. This role was completely not aligned with my background and to be frank seemed too hard. I wanted a lateral move to another company that would simply pay me my worth. This Pricing Analyst role paid more than what I was looking to make but it would require that I learn an entirely new industry.

The recruiter was intent on having me interview. “I already submitted your resume! They are looking for someone like you, a problem solver that is willing to learn.” Well, great. I reluctantly agreed to interview and decided to go in and give it a shot. I was offered the job on the spot and given 48 hours to decide. I had a tough decision to make: stay at my current company (which I loved) and continue to be passed over and underpaid, or take on a new position, new boss, new team, new company, and a whole new industry and bet on myself. During this time of deliberation, I spoke with friends and family and received vital words of wisdom. Check them out below.

1. To get the salary bump you want and deserve, you’ll more than likely have to move companies. This is the truest thing I’ve observed while working in Corporate America. The unfortunate truth is that most companies will not give you a 10 or 15k bump in salary. The quickest and most effective way to get a bump in salary is by moving to a new, or competitor company. Even if you receive a promotion you will not make as much money as you would if you simply left. Most companies do not give out raises that are more than 5k, even if your work warrants it. If you wait now, you’ll be waiting forever. Just leave. If you love the company go work another place for two years then reapply at your old company. They’ll be forced to pay you at your new rate.
2. You work for paychecks, not praise or promises. At the end of the day, it doesn’t matter how much praise your boss gives you if it doesn’t convert to dollars. Bosses are notorious for shelling out compliments and congratulatory remarks to keep workers happy. While this can be encouraging, don’t let this encouragement make you miss what’s really going on here. Promises are empty when left unfulfilled. If you let a boss promise you something and not fulfill one time, he/she will do it again.
3. There’s no such thing as “secure” in Corporate America. I was compelled to stay at my current company because it was a familiar and secure source of income. I had great relationships with my bosses and peers and was generally happy with the line of work I was doing. I was a high performer and had no fear of losing my job. This is no reason to stay anywhere. Comfort does not equate to security. After I left, that company had a huge round of layoffs. Many high performers were let go. No matter how valuable you are remember: corporations work in the best interest of themselves, so you should too.
4. Know your worth. The same thing that makes you valuable at your current company will make you valuable at your new one too. Value can be translated into many different industries or companies. It’s never the position or company that makes you successful, it’s you!

So as you can see, I made the decision to take the job offer and start new. I bet on myself and it paid off big time. My new role was challenging, scary, and rewarding. As mentioned above, I was successful in this new company for the same reason I was successful in my last, because I was valuable and you are too! When given the opportunity, always, always bet on yourself!