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Ten Myths About Climbing the Corporate Ladder

June 9th, 2009 @ 12:12 pm

14 Comments

Categories: Best Practices, Compensation, Corporate Governance, Entrepreneurialism, Executive Focus, Hiring, Management, Opinion, Rant, Strategy, Tips and Tools, Wisdom, Workplace

Tags: Catch 22, Leadership, Management, Climbing the Corporate Ladder, Business Myths, CEOs, Executives, Steve Tobak

For everything worth obtaining in life, people invent reasons why they can’t have it or look for an easy way to get it.

First, nothing worth having is easy to obtain. Second, the only thing stopping you is you.

To help you on your way, I’m going to bust Ten Myths About Climbing the Corporate Ladder:

  1. It’s not what you know, but who you know. I’d be lying if I said networking isn’t a factor, but it’s not the only factor. So are brains, experience, passion, drive, leadership ability, and a dozen other qualities.
  2. Executives are preordained in some way. I grew up in a tiny Brooklyn apartment and my father worked for the post office. Most top executives I’ve known had modest backgrounds and no “in.”
  3. Play it safe and CYA. Taking risks will dramatically accelerate your climb. Period. You’ll fail a few times, but what you learn from failure also works in your favor.
  4. CEOs have the best job. Actually, I think top-level VPs have the best job. They have loads of responsibility and get paid plenty, but don’t have the huge risk and liability of today’s CEO (and CFO).  
  5. You need a PhD or an MBA. I didn’t. It helps you get your foot in the door, as do degrees in general, but you don’t need them. And yes, it’s harder without, but that’s the rub: there’s no easy way to great things.
  6. It’s a Catch 22 - you need to be there to get there. Most top executives climbed the ladder. A few started their own. The only Catch 22 is the one in your head, and that’s the only thing stopping you.
  7. It’s a good old boys club and I’m not in it. Sure, there are barriers to success, but that’s part of capitalism, good or bad. If you have some mix of qualities like smarts, work ethic, passion, leadership skills, business acumen, articulate, etc., you’ll get in the club.
  8. You don’t get to have a balanced life. That depends on your priorities. Most top execs I know have well-balanced lives. Some don’t, but that’s their choice. Some retire young, some work until they drop. Again, personal choice.
  9. It takes brains, experience, and connections, and I have none of those. You can achieve the latter two in time if you’re driven and aggressively pursue opportunities. I’d hesitate to say brains are overated, but I know plenty of successful executives who aren’t geniuses. 
  10. Once you “make it,” you’re on easy street. Few with the passion and drive to “make it,” whatever that means, cruise once they do. They tend to always be looking to the horizon for the next big challenge.

Got any myths of your own you’d like to bust or any challenges to mine?

 
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  •  
    1

    kohlkf

    06/09/09 | Report as spam

    RE: Ten Myths About Climbing the Corporate Ladder

    Often asked how to succeed in one's career by young aspiring executives during my training programs, my answer is simple " Job skills and people skills". Former gets you employed, latter keeps you employed and with a bit of luck moves you up!

  •  
    2

    dacackow

    06/09/09 | Report as spam

    RE: Ten Myths About Climbing the Corporate Ladder

    Allow me the opportunity to re-publish this list. Top Ten Things that will help you climb the corporate ladder:
    1. It?s not what you know, but who you know. It?s not the only factor. So are brains, experience, passion, drive, leadership ability, and a dozen other qualities.
    2. Executives are preordained in some way. I would say one of two paths, both are pre-ordained. The first is through family connections that open more doors than are available for most. But sometimes overcoming hard challenges in life translates into success in the corporate environment. Life for a few can almost be a fated blend of hard challenges. When blessed with the right countenance, you can successfully deal with personal challenges; those skills can translate in the executive suite.
    3. Play it safe and CYA. This keeps you on the ladder, but finding the right time to take risks which will dramatically accelerate your climb. It?s the Warren Buffet law of investing. Save your money until the market crashes and devalues the best stocks when people leave the market. Now is the time to step out and take the risk.
    4. CEOs have the best job. Actually, many jobs in the executive suite can lead to very lucrative careers which, if you are diligent, can lead to the best part-time jobs on the board of other companies.
    5. You need a PhD or an MBA. You can?t rule out the chance without them, but there is no easy way to great things. The MBA especially is a good way to hone your skills while building your networking skills.
    6. It?s a Catch 22 - you need to be there to get there. It?s not a myth that you need to connect with the right people to make things happen. You can?t do it all yourself. Small business, through the corporate latter, whichever way you find a path, you need lots of help to make your success happen.
    7. It?s a good old boys club and I?m not in it. Once your recognize this you can determine how you fit in. Self-awareness is a key to understanding how people react to you. Once you?ve mastered the interpersonal skills, the club is opened to you.
    8. You don?t get to have a balanced life. That means that you need to make sure that you can foster a deep connection with the priorities that it takes to succeed. Carve out areas in your personal life to protect, but be prepared to compromise on everything else. Flexibility in connecting to higher level goals will set your free. That applies to the people that are close to you. Make sure that they can endorse the same level of flexibility.
    9. It takes brains, experience, and connections. You can achieve the latter two in time if you?re driven and aggressively pursue opportunities. It?s also important to understand that ?brains? doesn?t necessarily translate into a high IQ score. Brains are very much in the eye of the beholder, and if you believe?
    10. Once you ?make it,? you?re on easy street. The point to remember here is that you aren?t really on easy street until you are in that state of mind. You have to love this endeavor to really make the best of it.

  •  
    3

    ncmajumdar

    06/09/09 | Report as spam

    RE: Ten Myths About Climbing the Corporate Ladder

    Besides all said here, couple of other factors matters a lot that get unnoticed to many.

    1. Upbringing: How one is brought up from childhood, definitely influence their attitude and choice set. Although formal education, professional tarining, etc. aimed to provide a shape to one's attitude and knowledge, but the upbringing between age 3 to 16 really keeps a parmanent impression on one's behaviour and attitude.

    2. Personal Choice vs. professional aspiration: You can have MBA, PHD, etc. but to get at the top of the ladder first of all one should have that aspiration. Some are happy leading a good life deploying their skill and knowledge at a middle level of corporate ladder. Many are not inclined to endure the challange of organization politics. So your choice matters.

    Regards
    Nimai majumdar

  •  
    4

    dogunbanjo@...

    06/10/09 | Report as spam

    RE: Ten Myths About Climbing the Corporate Ladder

    wwwwwwwwwwwwwww

  •  
    5

    kmw8

    06/10/09 | Report as spam

    All About Eve

    If any of you saw that movie or know of the story, you would probably have an idea of where I'm headed.

    "The ends justifies the means." - this one is obviously dead especially in light of Enron and all the scandals of late.

    Be that as it may, some still feel that a touch of back stabbing, negative politics and credit stealing is the name of the game to get ahead.

    In the end you are "found out" and people either fear you because you are so politically unethical, or they figure you have no depth and are compensating for that.

    Either way - avoid the "ends justifies the means" mentality. Try to be on the up-and-up - we work to life, and not the other way around.

  •  
    6

    kmw8

    06/10/09 | Report as spam

    RE: Ten Myths About Climbing the Corporate Ladder

    "we work to live, and not the other way around."

    Sorry about the typo(s).

  •  
    7

    isdclub@...

    06/10/09 | Report as spam

    RE: Ten Myths About Climbing the Corporate Ladder

    Yes i agree with authors comments that to climb in cororate ladder you need to have peole skills as no success is possible without support of people, thier are three types of people 1. which pushes you (Your team) and 2.the people who pull you (Your bosses) and the people who balance your climb 3. interdepartmental collegues.

    else is good luck! keep knocking good luck may come to you some day....

  •  
    8

    Abrahamjac

    06/10/09 | Report as spam

    RE: Ten Myths About Climbing the Corporate Ladder

    I agree with Steve and the other commentators. Let me add that sound mind and body (health) is also plays an important role to climb the ladder. Because with all positive skills, if the individual is not maintaining his health, he can't be successful professionally.

    Presence of mind will provide logical conclusions and also right approach any situation; he/she faces at a particular moment. Again this comes with positive outlook and attitude.

    Best wishes,
    Abraham

  •  
    9

    scribbler60

    06/11/09 | Report as spam

    RE: Ten Myths About Climbing the Corporate Ladder

    At the risk of being a contrarian, I can't help but wonder why the corporate ladder has any appeal.

    Is it the money? I'm sure that's part of it, but what's the trade-off?

    Unless you've been living in a bathysphere over the past, oh, year or so, you'll undoubtedly realize that corporate shenanigans have cast pretty much every executive-level officer in an unflattering light. Sure, it's not fair, and there are undoubtedly some executives who have turned their back on unmitigated greed for the betterment of their organizations and the planet a a whole... but who ever said life was fair? It seems corporate execs now rank right up there - or down there, depending on how you look at it - with the lowest of the low.

    And let's just say that the ladder-climber finally makes it to the big office with the mahogany shrine for a desk. Then what? There's always a higher office, there's always more power to be had. The corporate climb never ends.

    It reminds me of the story of Sisyphus. Go look it up.

  •  
    10

    Steve Tobak

    06/11/09 | Report as spam

    RE: Ten Myths About Climbing the Corporate Ladder

    What's a bathysphere?

    ST

  •  
    11

    dacackow

    06/13/09 | Report as spam

    RE: Ten Myths About Climbing the Corporate Ladder

    What's Wikipedia?

  •  
    12

    Steve Tobak

    06/14/09 | Report as spam

    RE: Ten Myths About Climbing the Corporate Ladder

    What's wwwwwwwwwwwwwwwwwwwwww?

    ST

  •  
    13

    donneek

    06/15/09 | Report as spam

    RE: Ten Myths About Climbing the Corporate Ladder

    Can you spell spell checker?
    Does anyone read their comments before they hit the
    submit button?
    Hey Dacackow, what's with the question marks?

  •  
    14

    Steve Tobak

    06/16/09 | Report as spam

    RE: Ten Myths About Climbing the Corporate Ladder

    donneek: the software doesn't recognize certain characters - usually "smart quotes" from MS Word - and replaces them with a question mark. Happens all over the Internet.

    ST

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