What's the Ticket to a Higher-Paying Corporate Position?
Published on September 14, 2012, Orlando Business Journal (original article may be viewed at http://bit.ly/orlandobizjournal)
By Bill Orben, Associate Managing Editor - Orlando Business Journal
Robert Newland, CEO of Heathrow-based Newland Associates Group Inc., is a career coach for senior executives. He founded the firm 21 years ago and provides executive search and management consulting. Here, he answers some readers’ questions:
Top three skills I need to advance into a higher level corporate position:
First, envision the organization, its direction and needs, and then see how you fit in. Second, understand the politics. Moving up in the corporate ladder often is about knowing which buttons to push and when. And third, plan your career steps so you can capitalize on opportunities, knowing which assignments to take, who will mentor you and where will it all lead. It’s not about simply doing the job – that, by far, is too simplistic at the executive level.
Employment alternatives for executives:
Executives today are faced with lower salaries as they re-enter the work force, but there are other opportunities. Consider buying into a franchise, something that many mistake initially as a costly proposition. Or if you have a bit of capital and potential acquisition scenarios, you may be able to connect with private equity firms to execute transactions that will give you a great job and substantial equity upside.
How the Great Recession has impacted senior executives’ future in terms of employment and higher level jobs:
Economic slowdowns usually impact the lower tiers of jobs in organizations. This time around, there were significant cuts in senior roles across most industries. I had never seen so many six-figure jobs being cut at this speed. However, the job market is coming back. In 2011, we finally saw a significant uptick in the rehiring of senior executives as companies begin to fight for the top talent that will prepare them to capitalize on a slow but expanding economy.
What has changed:
Where a senior vice president in the pre-2008 era would get a $300,000 base and a 50 percent bonus, now that base will be closer to $200,000.
Contact Robert Newland at RNewland@Newland-Associates.com.