Career decisions are matters of the
heart. Think about it. You spend practically every waking hour either working
or with your spouse. Shouldn't you love them both? Besides, the only thing
worse than slaving away at work you can’t stand is being married to someone you
don’t love.
But it’s easy to forget that career
decisions are also business decisions. After all, there are bills to pay and
money problems are the worst. I mean, who doesn’t want to be financially
independent?
I grew up watching my parents work 9
to 5 making peanuts at jobs they hated. They were miserable. Why did they do
it? They were determined to give me a chance for a better life. And I was not
about to let them down by squandering the opportunity they worked so hard to
provide.
So, before making any career-related
decision, I’ve always asked myself five questions, and that’s served me well.
Today, after 30+ years, I advise others to do the same.
Is it practical?
There are always practical aspects to
any job or career change. Does the location work? Will the hours work? Does it
require you to do something unnatural that’s not really your thing? Does it fit
with your overall goals?
Don’t get me wrong. I’ve always been
pretty darned flexible. I’ve commuted across the country weekly for over a
year, but it was for a great job I loved that made my career. In any case, you
and your family should know what you’re getting into upfront.
Does it sound like fun?
Everyone talks about loving what you
do, but how do you know you love it until you do it? That’s right, you don’t.
But if it sounds like fun and the people you’d be working with seem pretty
cool, then, barring any red flags, it’s probably worth a shot.
Of course, things are never quite
what they seem. It always takes a few months immersed in a new job before you
figure out what you’ve gotten yourself into. But if it doesn’t seem like it
would be fun upfront, trust me, it’s not likely to get any better.
That’s always been my litmus test and
it’s worked out quite well.
What are the
odds of a big payoff?
My parents were not risk takers so
I’ve always gone the other way. I never thought much about salary. After all,
your salary just ends up paying the bills. Rather, I’ve always thought in terms
of equity: the motherlode, the haymaker, the windfall.
Equity is the big bucks that will
take you to financial security and freedom. There are exceptions, but for most
careers, that’s a pretty good rule of thumb. Everyone in high-tech made their
money via equity.
And while you have to roll the dice,
you don’t want to make dumb bets either. You want the best odds of a big
payoff. That’s why I think climbing the corporate is important. Top executives
get all the stock.
What do I
have to lose?
The downside risk is important. Some
people overanalyze it. Others don’t consider it at all. But you should. I don’t
care what it is, every job or career has a downside, a risk, a dark underbelly
that nobody likes to talk about. Try to find out what that is.
Most don’t even realize that going
with one decision has an inherent opportunity cost – the cost of all the
opportunities you don’t get to do because you’re otherwise committed to the one
you’ve chosen. You have to consider that.
What does my
gut say?
The other four questions are all
logic-based, even the fun one. But after I’ve answered them all, I still ask
myself what my gut tells me. If there are red flags, I listen to them.
Understand that I haven’t always done that. The times I haven’t, I’ve paid the
price. Now I always listen. Trust the red flags of your intuition; they’re
usually right.
That’s the bottom line. Pay attention
to reason but in the end, trust your gut. You know, the same way you fall in
love.
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