6 Figure Career Management

I often get asked questions about my own blog and newsletter  -“So why is it free? Where’s the catch..?”

Similarly when I refer candidates to recruiters or pass across business leads to contacts, I sometimes will over hear people say ”That’s good of him - but he is of course getting a financial kick back for it!” - which makes me chuckle as it’s completely untrue.  

So why am I doing it..?

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So you have done all the hard work – found the right opportunity, negotiated and agreed on a salary package and finally managed to get some time with your boss to offer your resignation.
 
But there is another twist to your job search – your current employer makes a counter-offer.
 
Whilst it is flattering and a welcome boost to your ego, it can be a little stressful.  It’s a nice problem to have – but what do you do?

How do you decide which offer to take up? How do you negotiate the best deal for yourself without coming across as unprofessional or overly materialistic?
 
Here are 10 tips that may help:
 

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Here are a selection of headlines from one newspaper last week:

- ‘Oil price to soar beyond $150 per barrel’
- ‘American Airlines puts surcharge on hand luggage to cope with fuel hikes’
- ‘Basic food prices up 30% on last year’
- ‘UK house prices to fall 7% in 2008’
- ‘Lehman to lose 5% of workforce’
- ‘JP Morgan to cut 8,000 Bear Stearns Jobs Worldwide’
- ‘No more big bonuses for 2 years say banking bosses’

Quite depressing hey?

Your disposable income is falling, the value of your biggest asset (the house) is falling and with various job cuts and hiring freezes you will have fewer resources with which to get the job done this year.

So quite possibly you’re getting less reward and not a huge amount of job satisfaction.

“But that’s financial services” - you might think – “you take the rough with the smooth.”

Well I agree – to an extent.  You need to be able to ride the bad times.  But every market has its winners and losers.  You can still come out a winner in the current market.

All you need are the right strategies and mindset.  Here is a 5-step model to help you make more money AND get more job satisfaction.

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I received a call today from a Financial Controller who had been invited to a final interview with the UK Finance Director (FD) of a major insurance group.

His question;- 

“So what do I ask the Group FD? The rest of the team have answered all my questions and I am completely sold on them. Do I just ask him questions about career progression and what roles he sees opening up for me?”

My response was:

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Were you satisfied with your bonus this year?

According to a survey conducted by Here In The City Careers,  just over 50% of respondents were satisfied with their bonus.

The Martin Ward Anderson-sponsored ‘Bonus Satisfaction’ survey breaks down the satisfaction levels across front, middle and back office areas as well highlighting the 20 firms with the highest satisfaction ratings.

Click here to see the full results.
 

From my recent conversations with 6 figure earners within the banking sector, a key theme is appearing.

It goes something like this:-

“The financial markets are all over the place and the pressure to deliver is constant. But I am delivering – and having to work much harder and longer to do so…

…But I tell you what – I better get rewarded and acknowledged for it. If I don’t get that salary increase / bonus / that new role next year then I will be furious. I don’t want to change jobs – but I will if I’m not recognised and rewarded.”

Sound familiar?

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