Articles by May Busch - 2009/2010
Career Advice:
6 Ways to Assess Executive Job Opportunities & Executive Education Programs - May 12, 2010
Whether we are talking about going back to school or a looking for a new executive job, the question is, “Should you always go for the highest ranking university or the most prestigious corporation?” Back in my parents’ day in China, all high school students took countrywide exams, the results of which determined university admissions. The higher one’s score, the more prestigious the school one attended. The ranking of each university as well as the scores of every student were known and matched so that the best performers went to the best schools. Decision-making back then was simple, but what about in today’s world with its abundance of choice?
Unless you must “satisfice” across multiple constraints that require significant compromise (e.g., a highly desired position, in a highly undesired location), then conceptually, the answer must be yes: go for the very best executive job opportunity or university admission that you can get. However, by what standard does one determine what is “the best”?
In my experience, whether you are choosing graduate schools or career enhancing jobs, there are six main criteria to consider in determining what “the best” means for us as individuals: three that matter while you are there, and three that matter when you are ready to move on.
What matters while you are there:
What will you learn and gain from being there? Make sure that the organization delivers on the content and experiences that you need to obtain during this part of your executive career. Early on, it may be better to join a larger organization known for its expertise in your field of interest to learn the subject area and gain contacts. As a more senior executive, you may get more out of joining a smaller organization with great aspirations and putting them on the map.
Who will you learn it from? This applies to the senior executives/faculty as well as to colleagues/fellow students. The quality of the people around you matters, because this drives how much you will learn.
Where is your best fit? Find the place that makes you feel at home and where you can be yourself while also being challenged. The people around you will be your tribe while you are there: make sure there are enough people who will lift you up and help you to achieve your aspirations.
What matters when you are ready to move on:
Who is in the alumni network? Only part of what you gain from a degree or an executive position is from the formal learning and training. Finding great future opportunities often comes down to leveraging your networks, and your fellow alumni and past colleagues may someday provide the important leads for your next moves. So when assessing a new executive position or further education course, ask about the backgrounds of your potential colleagues or classmates/professors – where have they come from and what do they hope to get from their current position or further study?
You should also attempt to find out what previous colleagues or students have gone on to do once they themselves become alums. This may be difficult in an executive job scenario, so perhaps visit Linkedin and use the ‘advanced people search’ to find out where the alums are working now – fill in the ‘company’ field and choose ‘past’.
What value does the organization provide as a “seal of approval” or pedigree? Look at the organization’s current reputation as well as its trajectory; make sure it is stable or, better yet, on an upswing. Also consider the optimal size and geographic reach: if you have international interests and want to work on complex issues across borders, then it is better to be part of a global organization with scale.
What future flexibility does the organization afford for you? Recognize that every place you land is a stepping-stone to your next adventure. A school or company with a broad range of offerings provides you a bigger “toy box” for experimentation without having to make costly moves. Similarly, an organization with a broader reputation delivers more than one that is highly specialized – unless you only want to work in that specialized area.
When it comes to obtaining a graduate degree, the upfront tuition can seem like a large sum. However, the rewards are reaped over ones entire executive career, with the potential difference in earnings power harder to quantify upfront when the decision is made. Saving $50,000 today by going to a lesser school may not be the best value proposition – it all depends on where your answers stacked up on the six criteria above. And in an environment of degree inflation, the schools with the better reputation will be more valuable.
Similarly, a job at a smaller, less established company could be great if it becomes the next Google, but that riskier platform could also end up as the next Bear Stearns. Even if they offer “double the pay,” think hard about how many years they will be around to make good on that monetary incentive. Career interruptions can be costly, so try to put yourself in a position where they are mostly of your own choosing.
The bottom line is that each candidate for “the best” situation must be evaluated on its own merits, with importance placed on finding a stable platform for your entire executive career. And remember, it’s important to have fun while you are going for your personal best.
For link to article in "BlueSteps: Connecting Executives and Leading Search Firms": https://www.bluesteps.com/Executive/BlueStepsGuestWriter/Articles/Summary_MayBusch.aspx#
Facing up to Face Time - May 4, 2010
There are two opposing schools of thought on the topic. Some say you make the best impression by being there before the boss comes in and staying until after he or she leaves.
The idea is to show unwavering dedication and an incredible work ethic by always being on call and using every available minute for the good of the cause. On the other hand, others make the case that you should leave when the job is done, and stop wasting precious time and energy on putting in “face time,” which any intelligent boss can see through. If you are efficient and produce results, then these will speak for themselves. In fact, staying late can backfire by making you appear less capable.
My personal view is that face time is counterproductive for everyone involved, and therefore has no place in a healthy work environment. After all, more is not necessarily better, as illustrated by the old joke, “first prize is a week in Philadelphia, second prize is two weeks in Philadelphia.”
However, avoiding face time is easier said than done, especially in environments where such behaviour has become the norm.
Let me share with you a few of the different approaches I have seen over the years.
Charles: don't do it:
Charles was one of our best investment banking analysts and I was lucky enough to have him assigned to my group when I was an associate. Not only did he possess a great math brain and fabulous spreadsheet modelling skills, he was also an effective communicator who our clients found likeable and trustworthy. Charles never did face time, partly because I don’t think it ever occurred to his highly logical and analytical brain, and if he did consider it, he would have concluded that it made little sense.
When he finished his assignments for the day, he would come by my desk, show me what he had done and ask if there was anything else I needed; “If not, then I’ll see you tomorrow if that’s okay,” is what I remember him saying.
Of course, if there was something else, he would happily do it. Bottom line: Charles didn’t need to do face time to try to augment his reputation. He worked long hours when required, but it was always focused on what needed to be done. No one ever doubted his abilities or work ethic, because he always delivered.
Evan: Do it 'smart':
Evan is an ED in Sales who has found a way to succeed in his career while also spending time with his wife and two young sons, and exercising regularly.
Evan’s approach is to do “smart” face time. This means a two-pronged approach. First, he makes it a point to put himself in situations where he can get to know the relevant senior people who can affect his career opportunities. He makes sure these key people in his chain of command and beyond know who he is and what he has accomplished, preferably through a work-related context.
To Evan, this is “good” face time. On the other hand, he never stays late for the sake of showing his face on the trading floor, which is “bad” face time. If he has to leave early to see his son’s Christmas pageant, then he lets his trusted assistant know how to reach him, slips out of the office unobtrusively, and makes sure he checks his Blackberry frequently. Sometimes, he heads off potential problems by checking in with key clients just before he goes. Other times, he might leave his jacket on his chair. “If you have to leave early, you have to leave early, but you don’t have to highlight it,” is his advice. And make friends with your assistant and technology tools!
Me: Getting over the guilt
For a while, I had the privilege to share an office with a colleague who was in a different but related business. We got along well and learned a great deal from one another, but I remember feeling a pang of guilt when I left our shared office before he did. Would this make me look like a lightweight, or as though I was sloughing off? I am ashamed to say that these thoughts crossed my mind even though I was already an MD, but that just goes to show that this is a very natural instinct, albeit one that we have to fight against. In the end, I realised that the fact of the matter was that we were in different businesses, each with its own daily rhythms. I had to be in the office before him for early morning meetings, and he had to stay late to deal with the global aspects associated with his business area. As long as we both produced great results, it didn’t matter what hours we kept. And I like to think that as a senior person, I set a good example for others in achieving work-life balance.
As you approach this face time dilemma, the best thing is to figure out what the norm is in your group, and then decide how you want to play it. Remember that this is a long game and you have to stay fit and resilient. If you are going to avoid face time, then here are four points to keep in mind:
1. Develop a reputation as one who is highly focused and gets things done
2. Stay on top of what is likely to come up so you can anticipate and clear the decks before the question of face time even comes up
3. Use the resources at your disposal to make sure you are reachable at all times if someone really needs to find you
4. When it comes time to leave, just do it – unobtrusively if it makes you feel better
How to Cope When You're Not Promoted to VP - March 15, 2010
It doesn’t feel very good to find out you didn’t get promoted, whatever the seniority level. It’s natural to wonder, “Is this a sign? Am I remedial? Do I have what it takes? Is it me or is it them?”
If this happens to you at an early stage, such as going from Associate to VP, then the most important thing from a career management standpoint (aside from regaining your equilibrium) is to find out what the true message is and determine if you are in the right place for your brilliant career. It is a time when you are entitled to some honest feedback, so treat it as a well-timed ‘wake-up call’ and make the most of this opportunity to make an honest assessment and get accurate feedback. The good news is that it is easier to make mid-course corrections at the earlier stages of your career than leaving it until later on.
The earlier on in your career that you get this ‘wake up call,’ the more likely that it’s an indicator that the current situation is not the best fit for you. Promotion hurdles get progressively higher as one becomes more senior, so not making VP in the regular promotion timescale should give you more pause than not making MD the first time around.
However, none of this is written in stone, and you have to figure out what it means in your specific situation
Before you jump to conclusions, here are some action steps to consider:
· Assess for yourself:
- Who else did/did not get promoted? How do you stack up as a candidate on a relative basis? Note that even if you can understand why you didn’t make the list, it is still important to express your disappointment, and to let them know that you are looking to redouble your efforts but need them to guide you as to how you need to improve.
- Are there successful senior people who did not make VP right away?
- Are you in the right place (i.e., industry, business unit, function, company)? Are you in a place where your best capabilities can be put to use and valued? Are you in a role where you can shine? Is this what you love to do?
· Talk to your boss:
- What is the reason for the decision?
- What does it mean for your career: Are you viewed as future promotion material? Is it a question of “when, not if”? Are you in a role from which you can be promoted?
- What do you need to do to position yourself for next year: Are there specific skills you need to develop or experiences you need to gain? Are there particular groups or people who need to become familiar with your abilities and made into supporters? Weaknesses to address?
· Get the advice of your mentors on the above
· Position yourself for next year if the conclusion is that this is the right place for you
· Stay positive: this is about your job, not your life or your value as a person
The key is to find the place where you can shine. If you are in it already and simply need to keep going, then go for it. Nonetheless, keep in mind that it is always good to create multiple options by maintaining your external network, even as you develop your internal support base. If you conclude that your current role is not a good long-term fit for you, then it is time to begin the process of finding one for which you are better suited. Be patient as you explore avenues and resist the temptation to make sudden moves.
In the meantime, continue to do your best where you are and don’t burn any bridges, no matter how satisfying it may feel in the near-term. The world is highly connected these days and it is in your interest to make the reputation that precedes you a positive one.
http://news.efinancialcareers.co.uk/Blogs_ITEM/newsItemId-24260
What if you get
passed over for MD promotion? - January 25, 2010
There is no guarantee that having embarked on the journey toward “MD-ship” that one will make it. That having been said, sometimes you just have to be patient. If you are given bad news, then the key is to understand why and what it takes to get there. Make sure you get clear and honest feedback about how the organisation sees you, and particularly whether they see you as MD material.
There are three categories of feedback you can get:
• You are seen as MD material and it is a question of “when, not if.”
This is the “least worst” news and, at the same time, among the most frustrating messages to receive. It means you are “close, but no cigar.” This was the case for me the first time I was up for promotion to MD, and the “when, not if” terminology was coined by my division head. (As an aside, if he weren’t so senior and plugged in, I would have done more due diligence to make sure that this was the broadly held view at senior levels. I probably should have done so anyway, but I was lucky and it worked out in the end. In any case, make sure you hear what you need to hear from more than one senior source, but do so gracefully and without offending your boss or sponsor.) When asked what I needed to do to get there next year, he told me to stay focussed and “keep knocking the cover off the ball.” After a good sulk over the Christmas break, I did as he advised, and also enlisted his help and that of my other mentors over the next year to help stay on track. This paid off and I was promoted the next year.
• You are heading in the right direction, but have some things to work on
In this scenario, it is crucial to understand what you are missing as well as what you are doing well. The adage of “accentuate the positive, eliminate the negative,” comes to mind. It is also possible that you are in a role that is not seen as an MD role, in which case you need to make a move. Again, enlist help in addressing these points and either working toward being seen as MD material where you are, or getting into the right business role for you to have a real shot.
• You are unlikely ever to be promoted to MD
This is the trickiest category because very few senior people will ever say those demotivating words to an employee. Yet, it is important to know, “am I wasting my time?” Truth hurts, but then you can move on. If this is the message, then you have some decisions to make. First, is it true and do you agree? If it is true, do you leave and go to a firm with a better fit, or stay and address your shortcomings? If you stay, do you find another role within the firm for which you are better suited, or carry on where you are and either keep trying to change their minds, or accept that you have probably topped out? Finally, is this a role in which you can stay without progressing, or do you risk losing your seat one day in an “up or out” type scenario?
What is the right thing to do?
I have seen different people react in different ways, and collectively they have made all of the possible choices listed above in relation to not being promoted. This is a very personal decision and one that requires a level-headed approach rather than a rash reaction. Whatever you decide, it makes sense to maintain your contacts with the search firm world to keep your options open, and to refrain from burning your bridges with your current firm.
At the end of the day, you have to weigh up the options and realise that you really do have many. It is also important to understand that it is well and truly a marathon, not a sprint. Unless you are in a private partnership with an IPO coming up in the near future and except for your ego, it really matters very little whether you are promoted this year or next year, as long as you know you are on the right track and that you have the support of the firm.
Like everyone else, I was in agony over seeking promotion, being passed over my first year, and then having to gear up all over again. It was only after I made it to MD that I realised ultimately, the timing made little real difference. Faster is not necessarily better. After five years, when asked to provide a bio for an upcoming speech, I even had to check the paperwork to be sure of the exact year when I was promoted! But if you are like I was, you won’t believe this until you experience it for yourself, and I very much hope that you will.
Keep it in perspective:
Promotion to MD is a great goal and a hard-earned achievement. But remember that once you get there, the work truly begins. And the bottom rung of the next ladder is undeniably risky. When I was up for promotion, a colleague in firm management did an informal calculation of the average tenure of an MD and found that it was only 2.4 years. Granted, that was more than a decade ago and we were not shown the data behind the calculation. Nonetheless, it was a sobering statistic. As one of my first bosses said, “be careful what you wish for, sometimes you might just get it.” So, when you ultimately make MD, congratulate yourself, but realise that new MDs must quickly learn to justify their existence at an even higher level.
How to Make it to
MD (Part II) - January 11, 2010
This is a continuation of my earlier article on how to make it to the top of the tree in an investment bank. As I stated previously, making MD is an art, not a science. But there are some things that will help you along the way.
Are you in an MD seat?
If you are clearly MD material, a firm will usually find some way to promote you, although the timing may vary. The business unit you are in and your role within it can be instrumental to achieving your promotion, and to doing so in a timeframe that you deserve.
Some candidates get there by being immensely successful in a focussed technical role. They can have their place in the line up, although this may depend on the strength of their business contribution and the needs of that business at that point in time. Other candidates are highly versatile: people we can envision running the firm someday, or at least being a real contender. Whatever your route, make sure you are not only in a role in which you can excel, but one that can support (or, better yet, requires) MD level seniority. If a really good junior ED can do your job just as well as an MD, then you are probably not in the right role. MDs are too expensive to put into just any seat.
Joan was particularly good at executing investment banking deals, especially the complex and documentation intensive ones with many moving parts. However, Joan did not have a role in bringing in the business, and it was harder for her boss to argue her case when there were always fabulous business getters up for promotion. Furthermore, the execution team already had two MDs and it was unclear that a third was necessary for the business. Since the firm valued Joan’s contribution, she ultimately made it to MD. However, it took several years longer to get there than for colleagues who had the whole package including great business-generating results. That having been said, she is still there while some who were promoted sooner have come and gone, lacking the staying power she has had. She ended up running the group: sometimes quality wins out over speed.
Have you helped your boss make the case?
It is in your interest to make yourself easy to support. Find out what the promotion criteria are, and make people aware that you have these qualities in spades. While this is decidedly not a popularity contest, the system is usually far from stellar in providing perfect information, so handle your own PR. The more people who know who you are and what you can do (and have done), the easier it will be for your boss to successfully make your case to the people who decide.
Is your timing good?
It also matters what kind of year the business is having. When times are good, firms can afford to promote more people to MDs. In fact, more MDs are needed to run burgeoning books of business. In lean times, the cut off point is more stringent. The same may hold true for the specific business unit that you are in. Depending on the lay of the land and how strong a performer you are, patience may have to be your virtue.
Finally, know that making MD is only partly under your control. Do everything you can to excel in the job you have been given and to show that you are an obvious candidate. Then, as difficult as it is, let the chips fall where they may.
How to Make it to
MD (Part I) - December 14, 2009
Making MD is in part an art, and definitely not a science. There is no set formula for achieving this status, and each firm will have its own dynamics in terms of when someone becomes eligible, what it takes, and indeed what it means to be a Managing Director. That said, there are clearly some universal aspects to focus on for those who aspire to the top rung.
Are you MD material?
In many ways, the question of what constitutes “MD material” reminds me of US Supreme Court Justice Potter Stewart’s comment about pornography: while it is difficult to define, “I know it when I see it.” The reason it is not easy to generalise is that not all MDs are the same (thank goodness), and it is about the quality of your whole package and what it delivers. The only way to really know is to ask your boss and mentors for feedback specific to you and your organisation. However, in my experience most, if not all, successful MD candidates possess three core qualities:
• Commercial Impact:
This is about delivering business and pulling more than your own weight. It is about producing commercial results for the firm in a responsible and sustainable way. Whether your business is about winning a select number of elephant deals each year, generating a vast number of flow transactions that gain market position, or providing incisive research insights, you need to be seen as best in class. Be a “rainmaker” along the dimensions in which your group is measured. Do you deliver results, and in the best possible way
• Leadership:
During promotion discussions, the leadership dimension is always important. Committee members look for people who can build a franchise -- someone who drives a business forward and leads it to new heights. You need to have earned the respect of juniors, peers and senior managers, and be credible externally as well. Are you someone who can be trusted to lead a franchise and represent the firm at the highest level?
• Partnership Behaviour:
MDs have to walk the walk, not just talk the talk. In the old days, it was literally about bringing someone into the inner sanctum of the partnership, and in many ways, things have not changed all that much. Today, promotion committee participants are charged with asking the tough questions: Do we trust this individual to do the right thing? Is this someone we would want to march into battle alongside us? Will you be a constructive force, helping to drive the whole firm forward? Can you see the strategic value of other business areas even when it is against your parochial interests? Do you think of the long-term when making business decisions? I remember the year when a star trader was put up for promotion with fabulous production numbers. Despite the fear that he would go elsewhere if we failed to promote him on the early track - the promotion group held fast to the ideal that an MD must act in the interests of the firm as a whole, and not just to favour his or her own P&L. Fortunately, he got the message and grew up into a fine MD – but it was not until he demonstrated greater maturity duringhttp://news.efinancialcareers.co.uk/Blogs_ITEM/newsItemId-22502
How to get paid what you deserve - November 10, 2009
Compensation is a tricky topic in banking these
days. It is unpopular (and many have argued
even unjust) for bankers to be paid large sums given all that has gone
on. On the other hand, people doing an
honest day’s work cannot be expected to do so for free. Whatever
the outcome of the broader
debate, it is still reasonable and important to make sure that you get
what you
deserve at the end of the year.
Simply keeping your head down and working hard is not the route to pay recognition: while hard work is expected, it is necessary but insufficient. In real life, unlike at school, there is no such thing as an effort grade. Here are some points to keep in mind.
What results have you produced?
The most important thing is to make sure your boss knows what you have done, and what you are capable of. Since none of us is born with a neon sign and bosses are not mind readers, it may literally pay to find a way to express your achievements and to do so in a way that puts them into context. When you produce results, make sure your boss is aware of it – and the more concrete you can be, the better. If you have brought in a deal, tell them what was special about it: Was it first time business? Did it take ingenuity to win it out of turn? Did you negotiate a disproportionate role relative to the competition? Did you gain market share?
If there is a story that sheds further light on the apparent result, you must tell it. In the case of a young capital markets VP who worked for me, our firm had been awarded a $3bn deal with an existing investment banking client; on the face of it, a good result but not heroic. However, the real story was that the client had threatened to rescind the mandate based on an unrelated situation with another area of the firm. The VP had saved the day by travelling to the client’s European headquarters the night before to greet the senior executives the next morning with an impromptu meeting as they came in from the car park. The VP’s personal appeal based on our merits succeeded even when other colleagues had given up.
Not only did she deliver a near-term result, the
events
demonstrated that she had additional valuable traits of fearlessness,
creativity and willingness to go the extra mile. Having
the full picture was important to making the right
compensation decision.
What other contributions do you bring to the table?
Unless you are a trader evaluated purely on your P&L, the qualitative aspects matter and can be important to getting into the higher end of the compensation range, or at least eliminating reasons for getting pushed into the lower end.
An important trait is to show resourcefulness and initiative in getting things done. Like the VP described above, find a way to achieve the objective. If the front door is locked, then try the back door or the window. Every boss appreciates those who can get things done without having to direct every step.
Unless you are in a
highly specialised area that relies
almost solely on technical expertise, demonstrating teamwork and the
ability to
persuade other people can be differentiating factors. While
it may be tempting to resort to competing with the
person sitting next to you, this is a short-sighted strategy.
Longer term, those who succeed in their careers and get paid and promoted are those who can build, manage and lead teams. Conversely, it could be a real liability to be labelled as hard to work with or, worse yet, a management headache for your boss.
Figure out the most important qualitative traits for the part of the business you are in, and make sure you embody them.
Can they see you progressing?
Trajectory matters. While this year’s compensation generally relates to this year’s results, bosses are usually on the lookout for people who they can envision progressing to the next level and beyond. Good senior managers want to build the next generation of leaders, and if you can be seen in that light, then you will be more likely to be in the top compensated group. Naturally, you still have to perform year in and year out, but high potential people will tend to get paid more than those who plateau.
At the end of the day, there is always demand for high quality people who consistently produce top-notch results, and employers are likely to pay these people well. Cynics may say it is who you know that counts, but the reality is that it is who knows you that makes the difference. So, in addition to working hard, make sure that you showcase your whole package: all that you have done and what you are capable of doing. That way, you are more likely to get what you deserve.
Gaming the Yearend
Appraisal Process - September 29, 2009
While it is not really possible to “cram for the exam,” there are some things that will help.
Know the process: What is measured,
when and by whom? Find out the
due date for evaluations, add a week or two for the usual slippage, and
that’s
the date by which those who need to know must be in the know about what
you’ve
done. Don’t be that poor soul trying for brownie points when it’s too
late. Also, the typical 360º process gives you a say in who evaluates
you. Choose people who (a) know what you have done, (b) will take time
to
give you proper feedback, and (c) won’t compete with you for credit.
Work
with your boss on this -- they should have a vested interest in helping
you to
shine.
Know what you’ve
done:
Write a good self-evaluation. Note your improvements relative to last year’s feedback. Cover the accomplishments from the entire year, not just what you’ve done lately. Keep it focused, cite concrete results and resist the temptation to over-embellish. Direct reports of mine who wrote pages and pages of gory detail, or sounded like they were writing fiction did themselves no favours. Done properly, your self-evaluation will be a script for your boss to promote you to others.
Find more opportunities to shine:
Even now, seek assignments that allow you to emphasize your strengths and show how you’ve overcome weaknesses. Make each project count since there have been fewer this year. Create your own business ideas and extracurricular leadership opportunities if no other projects are forthcoming. Research shows that recent events are more memorable than things done in the past, so try to find things to do that impress even now.
(Re)connect with
your evaluators: Especially if you worked together early
in the year.
Update them on how you built on that success or learned from mistakes.
Otherwise it is like winking at someone in the dark -- you know you’ve
done it, but no one else does. Call on clients together so they can see
you in action, and make use of travel time to catch up and get advice.
Remind your boss of your ambitions and ask whether there are remaining
areas you need to address, especially if this is a promotion year. How
you do this is important: your goal is to get your boss on side, and
remind him or her of how valuable you are without being annoying or over
the
top.
Keep your head in it:
Stay focused on the job at hand. Be cool. Model the behaviours that are valued by the firm. There is nothing worse than having a team member who is so busy worrying about themselves that their performance slips.
Once you’ve done what you can, then relax and let the chips fall where they may. And, of course, you could always get a jump on next year…
Surviving as an Analyst - September 21, 2009
Making a success of your first job is an important career milestone. I remember looking up at the 53-story office building from the sidewalk on my first day of work. It was scary, exciting, and pretty intimidating.
Twenty-four years on, here’s what I’ve learned about what it takes to do well from the start, and yet live to tell the tale. At its most basic, the message is to approach the new challenge calmly and intelligently.
Resist the temptation to “try too hard” at the expense of your health or your reputation: it’s no good if you burn out or if you alienate people with exaggerated behaviour. If you want to come through some of the most challenging years of your life, you’ll need to:
Know what’s required
Gain clarity on what is expected from you – ask your boss, read the evaluation criteria, and talk to those who have done your job successfully.
Do the fundamentals first
Always meet expectations and exceed them if possible, but don’t go for extra credit unless you’ve satisfied the basic requirements. If you aren’t on track to deliver, speak up right away, before it’s too late for others to help out or plan around it.
Build your network
No matter how good you become technically, banking is a people business. You’ll need a network including senior people who can give you big picture advice and access to opportunities (here, think 1-2 levels up from where you are), peers for the mutual support, and juniors/support staff to help you get the job done.
Don’t compete with your peers – you’re all in this together, so create team spirit and share knowledge. And the way you treat juniors and support staff is the true measure of what kind of person you are – word will get around. Most importantly, be yourself – people can always see through phonies.
Discipline yourself to do the job on a sustainable basis
This often means learning to manage your boss. By asking what’s coming up each day and requesting regular team meetings you’ll be able to better manage your workflow.
Watch the adrenaline. Enthusiasm is great, but too much adrenaline masks the point when you exceed your limits. Don’t be like those cartoon characters that are running so fast that their momentum carries them over the edge of the cliff before they realise where they are and then come crashing down.
Discipline yourself to achieve some measure of work-life balance. Identify what’s really important to you, and make sure you schedule it in. When it comes to key personal events, let your boss know well in advance so they can plan around it, and remind them as the date approaches. You should be able to accommodate at least one personal interest or hobby, and find a way to keep fit. Physical and mental health are linked.
Communicate
Unless you speak up, people will generally assume that everything is under control and leave you to get on with it. While that’s okay, it’s to your advantage to develop open lines of communication with your team, both senior and junior. Get in the habit of providing brief progress reports whether things are going right. When there’s a problem, propose a solution.
Seek advice on decisions when you don’t know how best to prioritise. Always make sure people know where you are and how to reach you – that can give you freedom not to be chained to your desk.
My father once told me: “Human beings do this job. You can do it too, just do your best and the rest will take care of itself.” Superhuman effort is not required – just keep putting one foot in front of the other and stay on track.
http://news.efinancialcareers.co.uk/Blogs_ITEM/newsItemId-21171
For a summary of the above articles on one link:
http://news.efinancialcareers.co.uk/newsSearch/type-newsandviews-author-May__Busch_.htm
Gender Issues:
What to Do When Asked to Lead a Gender Initiative - December 10, 2009
Sometimes, it is not clear whether a company is referring to a women’s initiative such as forming a women’s network, or whether it is part of a broader gender balancing program aimed at balancing the ratio of men and women throughout the business. It is important from the outset to be clear about which it is. Ideally, any company will see this as a gender balance program of relevance to men as well as women. This is clearly the direction to take it in. But anyone asked to lead such an initiative needs to understand the broader context before agreeing to take it on.
My friend Anne (not her real name) is a partner in the London office of a global law firm. After 20 years in the profession, she was asked to spearhead the firm’s new women’s initiative in London. A number of thoughts occurred to her simultaneously – contradictory and yet valid reactions – ranging from “It’s about time!” to “I don’t want to get labeled as the office feminist” to “I don’t have time, and are they really serious about it anyway?”
As the adage goes, you are not responsible for the first thoughts that go through your mind, but you are responsible for what you do with them.
Should You Take on the Challenge?
Here are some issues to consider:
- What top management support is there? Who is championing this initiative?
- Is this viewed as a strategic imperative for the firm, or is this just about “ticking the box” or “fixing the women”? What is the organization’s overall goal and how will success be measured? While it is important to help women help themselves and each other, the mindset across the organization toward diversity and its business benefits is key to success.
- Should it be led by a male senior manager to ensure the initiative is not sidelined as a ‘women’s issue’? Or, have they chosen you irrespective of your gender because you possess special leadership skills and internal credibility that uniquely qualify you for the role?
- What junior support will you have? Do you have freedom to set up a team, structure and procedures as you see fit?
- Have you been chosen as a role model? Is this an opportunity to lead by example showing, both men and women, how women can head up an initiative effectively even in a tricky setting?
Taking on the Challenge
Here are some tips if you decide to go ahead:
- Agree the scope of the initiative upfront: are you asked simply to establish a women’s network, or a broader set of programs to attract, train and retain women across the organization? Is this envisioned as a multi-stage initiative with further activities to be added in the future? Having agreed the scope, draw up a ‘business plan’ with your sponsor’s approval to be endorsed by top management.
- Reach out beyond your organization to external audiences, and gain further visibility and business opportunities for yourself, your participants and also for your business. Learn from others’ experiences as you determine the range of your activities and the best approach to take. Establish a constructive approach and philosophy from the start
- Focus on generating business leads and connections as well as building a support network. Ensure the initiative is not abused or used as a license for complaining.
- Ensure a close working link with your sponsor with the opportunity to report back and enlist support on an ongoing basis. Establish a feedback loop so that organisational change and learning can take place.
- Most women will see the benefit and experience the energy from being part of the initiative, but for many, addressing the potential for a “male backlash” is an important consideration.
- Make an effort to engage the men as well, especially where bridges can be built and endorsement can be found.
- Strive to be transparent since the unknown (and therefore mysterious) tends to arouse suspicion and misplaced ill will. Report back to the general audience with appropriate frequency.
- Open up fora to all employees, where appropriate, for example when speakers are coming in to talk about business or general career topics, to further demystify the subject.
- Remember that some people will complain no matter what, so do what you can to meet the complaints and send the rest of them to speak to your senior sponsor.
Anne has taken on the mantle to lead the
women’s initiative at her firm, and she is making a real difference.
Men and women in her firm are gaining invaluable insights and, by
hosting events with female clients, the initiative has led to new
business opportunities for the firm. Who says you can’t have win-win?
http://www.20-first.com/1250-0-what-to-do-when-asked-to-lead-a-gender-initiative.html