I Want More Money!
By Jim Tholen, Managing Partner
Recently, I was chatting with a buddy of mine whose daughter was trying to sort through several job offers. That is, of course, a good problem to have. But a problem nevertheless.
(As a side note, this job search was done completely remotely. In other words, the whole process was via either Zoom or Google Meet — which is another adventure for a potential future blog).
Her dilemma got me thinking about a common quandary I have seen play out in job searches and contemplated job changes, at least in the tech business.
I’ve heard my Millennial friends (and mentees) say things like, “Yeah, it seems like a great company and it would be a cool job,but it pays twelve grand less than this other one.”
When I mentioned this to my partners, Scott and Mike, they had had similar observations. So we thought it was perhaps an interesting dilemma about which to blog.
It comes down to how important is compensation in deciding what kind of job to accept?
Especially early on in one’s career journey, I’d argue it should carry less weight than I suspect it often does. But it sure is hard to turn better money down.
Now, I am not minimizing wanting to make good dough.
But, it’s also important to understand the company you are considering to work for and whether it is a good fit and matches your aspirations.
How does the (new) feel in terms of your career trajectory?
How excited are you about the company offering you the job?
How about the culture and dynamics of the team and company you would be joining?
Those questions feel more important to me than trading a great fit for incrementally more dough from another job option.
Career paths are rarely linear — in fact you may well experience lots of turns and perhaps unplanned but interesting opportunities. Imagine job or job opportunities as building your personal professional brand — and your portfolio of skills and experiences. Project forward the building of your brand and portfolio of skills. That to me is far more important to optimize than shorter term comp objectives.
Funny enough as I was thinking about this blog, I had a personal flashback. My first job after getting my MBA was as a tech investment banker. Admittedly, I suspect the money was a factor in my going into banking. But through it I fell in love with the tech business, and actually left the banking world on a path getting into the tech business — but at a substantial reduction in annual comp. But I did build a set of skills, and a personal brand around strategy and strategic finance that has continued to grow with me. I didn’t look back — it has been a great ride, and for me a more fulfilling career path, helping lead companies as they grow and scale. To my fellow readers, what is the best career advice you’ve received? Share with us!
