Posts tagged career
How I Left My Job & Negotiated My Exit

Jennie here.

From day 1 at my (now former) company, I knew that I was going to leave. It wasn’t that I didn’t enjoy my job or that I didn’t always give 110% of my effort. I just knew what I wanted:

Ivan and I wanted to travel the world (and work simultaneously) starting in September 2018.

So, Ivan and I have had this planned out for more than two and a half years. At the end of July, I finally informed my manager of my intentions.

Given my current manager-employee relationship, I decided not to disclose that I was traveling the world. That’s my personal life, and it was really none of their business.

However, I did share the reasons why I was planning to leave. I stated that I’d changed managers three times in the last year and my relationship with my direct manager always seemed out of sync. I felt like she never really trusted me - her only team member. I also shared that I was exhausted by the constant need for political maneuvering. This is a problem with “careerists” in any industry - everyone’s just angling for the next seat. Whether that’s on a rocket ship or the Titanic hardly matters because nobody has skin in the game.  

I was just tired of it. It all seemed so pointless.


Here was my ask to my direct manager:

  1. I was willing to finish out all of my projects over the next month and help train/transition any new hires.

  2. During my last month of employment, I wanted to work remotely from New Mexico to spend time with my family.

  3. If they wanted to keep me on to tie up loose ends through August, I wanted an extension on my benefits and be on payroll through the end of September.

Truth is, I wasn’t sure how it was going to turn out. Ivan and I were prepared for any one of  three scenarios:

  1. They would let me go on the spot (very likely).

  2. They would let me finish out my work over the next month (not so likely).

  3. They would attempt to persuade me to stay (not so likely).
     


The Results Of My Negotiations - What I Got Paid To Leave:


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In the end, it didn’t turn out 100% the way I wanted. Maybe just 75%. But that was more than enough, considering that Ivan and I would’ve been perfectly happy walking away with nothing:

  1. My manager gave me a one week to “finish up my tasks/projects.” There had been a lot of tension for some time so this worked out well because I got time back in my life.

  2. I coordinated with our HR department and managed to get one month’s pay without the work.

  3. They did not choose to extend my benefits into September (this was always a stretch goal and not a completely necessary one. Our international health care plan begins coverage starting September 1st).

I knew that it was highly unlikely that they’d accept all of my terms and I was right. Ivan and I had anticipated that my manager would be inflexible and might respond negatively to my resignation so we actually pre-emptively cancelled the lease to our apartment at the end of July.


Lessons Learned and What I Would’ve Done Differently In Leaving My Job:


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Here are some of my lessons learned from my first tech startup:

  • Lesson #1: I wish I had better negotiated my employment contract from the very beginning. My former company (like most tech startups) aspired to the “hire fast, fire fast” philosophy. And here’s the thing - those companies will always exist within the startup world, but there are consequences to this type of mentality. In theory, it’s a great idea to cut your B and C players quickly. But this assumes that management is competent and has the ability to distinguish between A and B players - and not be caught up by their own biases and prejudices. Sometimes objectivity and rationality is just a cloak for arrogance and a poor understanding of your own limitations.

    Had I known what I know now...I would have demanded a severance package and better sign-on bonus (relocation package) from the beginning because I was accepting a job across the country. In my next opportunity as a director level or higher, I will definitely negotiate terms that are more favorable to me.
     

  • Lesson #2: I should’ve done better due diligence. I joined the company because I was desperate to leave Boston at the time - my job was going nowhere and my managerial relationship was hostile (Ivan: misogynistic) to say the least. And in this new opportunity, I jumped without thinking too hard about it - I didn’t even negotiate my salary - which I should have.


8 Steps to Negotiate & Execute Your Job Exit Strategy


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Everything in business is negotiable. Trust me, you have more power than you can imagine - no matter what your situation.

Here are a few steps that I’ve gathered to help you negotiate your exit when you decide to leave your job.
 

Step 1: Decide on what you want and make your plan.

For me, I wanted to leave and travel the world by September 2018. You don’t have to wait as long as I did but I felt grateful to have two and half years to do good work, queue up the “next thing” in 2018, and mentally prepare to leave my job. Because I’m a planner, I needed this sort of thing. And I knew that if I didn’t have a “deadline,” I would never leave.
 

Step 2: Always lay the groundwork.

One of the most important things that’s always relevant - whether or not you leave a job or want to negotiate a raise - is you should always do your job well and document everything. Make sure to always document the following:

  • Schedule quarterly reviews with your manager.  
  • How well have you performed in the last 6 to 12 months? What are your metrics?

  • Have a presentation that covers your accomplishments and accolades, with testimonials from other team members across the organization.

  • Send a follow up email of what you discussed and shared with your manager. It’s critical to have a paper/digital trail of your good work.
     

Step 3: Prepare for your “next” thing.

Are you looking to get a new job? Traveling? Give yourself at least 3 to 6 months of interviews, informational coffee dates, or start doing some freelancing. Start early because it’ll only give you more options down the road.
 

Step 4: Assess your relationships.

In any organization or team, you should know who you can  depend on to advocate for your work and accomplishments (before and after you leave). Also, it’s good to have relationships with your executives if you work for a small tech startup. This makes it easier for them to accommodate to your asks when you finally decide to leave.
 

Step 5: Understand your leverage.

Understanding what your advantages are in any given situation. For example, was a lot of your team’s work dependent on you? Are there key company events/milestones during the year where your presence is essential? That’s leverage. And with proper timing, you can use it.
 

Step 6: Decide what you want.

Do you want a more flexible work environment (e.g. working remote 100%)? Are you leaving because you don’t agree with the direction of the company or management? Regardless of the reason, think about what you’re willing to do to help the company transition - and what you want to ask for in return. For example, if you’re a star employee - you can offer to help train the new replacement over the course of x months. And for your troubles, you could asked to be paid x extra for the additional months you’re putting in. If you’ve got a family, always ask for an extension of your benefits. In my case, my healthcare was 100% paid by my company so it would have saved me over $1,500 a month.
 

Step 7: Understand and accept the fact that the exit meeting may not go the way you want.

That’s just life - it’s not always going to work out the way you had intended. The moment you say, “I’ve been thinking about leaving the company…” it’s up to external forces and how they respond. I don’t want to downplay luck in all of this. On the other hand, they also say that luck is preparation + opportunity.
 

Step 8: Control your own narrative - remember the future and leave on positive terms.

Sure, it’s important to negotiate the best terms in your separation agreement but keep in mind that this goes beyond money – what you agree to and how you go about it can affect your career long term. When I left, I did an informal “exit interview” with every single one of the co-founders and executives at my company. I wanted to express gratitude to them, share why I was leaving, and make sure that I controlled my own narrative even after I’m gone.
 


The Bottom Line: Everything Is Negotiable; Ask For What You Want


If there’s only one takeaway that you have from this post, it’s that the world is malleable and you have more power than you think. And you owe it to yourself to ask for everything that you want because who knows - you just might get it. 

Early on, Ivan and I both realized that the “where” you end up isn’t nearly as important as the “how.” The journey over the destination applies to pretty much everything in our lives. And even when things don’t work out the way we want, you can still be confident in the fact that you played your hand the best you could. And that’s all anyone can ask for.

If there’s only one takeaway that you have from this post, it’s that the world is malleable and you have more power than you think. And you owe it to yourself to ask for everything that you want because who knows? You just might get it. 



March 2018 Money Diary: Job (In)security & Worst Case Scenarios

Jennie here.

And finally..Ivan is back from Taiwan after being away for two whole months.Trust me friends, I’m excited he’s back too. But before I get into the nitty gritty of everything that happened last month...I want to just pat myself on the back - it turns out when left to my own devices...

I saved a few hundred extra dollars without Ivan around. A “normal” month of spending (without Ivan) in April was pretty successful overall compared to our normal budget. I achieved this without being conservative or cautious with my spending. I just stuck to normal routines and was mindful about not going overboard when I wanted something.

Beyond normal savings - I experienced a more challenging issue this past month: potentially losing my job earlier than I’d anticipated. My mentor and direct boss was fired this past month in a power struggle, which means that Ivan and I may get to go on our RTW trip a couple months earlier than expected!

Nothing is certain yet - but I’m prepared for the worst. Ivan, however, was quick to remind me that this is no big deal.

[Editor’s Note: How am I wrong exactly? With only five months left before our planned departure and $1,800 away from our 40k goal, even if we lose we can’t lose. I mean, seriously. As Jay-Z would say: you gotta get that dirt off your shoulder.]


There Are Some Things You Can’t Control:

[No] Job Security At Tech Startups


Snapchat recently laid off 220 employees in February and March and it’s estimated to save them $34 million per year in salaries, taxes, and stock-based comp forfeitures.

Were these employees surprised? Or as insiders, did they see this coming from a mile away and prepared for the worst case scenario? Although I don’t work for Snapchat - I do work for a tech startup. And here’s what I’ve learned since the very beginning of my startup tenure:

Job security doesn’t exist in tech startups and getting laid off or fired can easily happen to you.

And here’s the truth about most startups - they often embrace the idea that they should hire fast and fire fast. Most executives and high level managers may not admit it but the truth is: they have never regretted firing anybody. In fact, there’s a higher chance that they’ve regretted not firing somebody quickly enough. Although this makes sense logically speaking - it’s an uncomfortable idea that individual contributors (like myself) have to quickly come to terms with.


There Are Some Things You Can Control:

You Can Learn to Live with Uncertainty


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In recent weeks, I’ve been experiencing something of an emotional and value crisis in my job because a re-org happened within my group. It’s prompted a lot of questions about whether or not I’ll have a job in a few months or what my self-worth is to an organization.

I recently heard something that a tech executive said:

“You’re not looking for stability, you’re looking for predictability.

Predictability is the degree to which a correct prediction or forecast of a system's state can be made either qualitatively or quantitatively.

Here’s the thing though, when you have external variables involved like self-motivated human beings, emotions, and office politics...can you really have true predictability?

Well, you probably can’t have full predictability but you can make foundational choices at the beginning. For us, we chose to save rigorously and assumed worse case scenarios.

What have I learned from my job instability?

  1. The bad news, I don’t know if I’ll have a job in a month or two. I mean, does it suck? Yes. Is it bad? It could be - I mean, who doesn’t like a steady paycheck? I’ve never been unemployed or laid off in the last six years of my professional career either. So, it’s uncomfortable.

  2. The good news: Ivan and I have already planned for the worst case scenario. Because Ivan and I have built up a foundation of exhaustive budgeting, we have a cushion (e.g. our Fuck Off Fund) that protects us in situations like this.

So, what’s next?

Stay the course and continue to do what we’ve been doing: grow our business, save every month. So long as we don’t deviate too far off our normal budget, then we’re okay. I thought that I would go into panic mode (e.g. extreme savings) because of this uncertainty but we’ve been fortunate enough that this issue feels like a drop in the ocean.


Charity Highlight Of The Quarter: No Lean Season


Like I mentioned, we’re staying the course. And at the end of every quarter, we donate $250 to a charity of our choice. This month, our donation dollars are going to a charity called No Lean Season. It’s a non-profit that offers no-interest loans to poor rural households in rural northen Bangladesh during the time of seasonal income and food insecurity ("lean season") between planting and the major rice harvest. Up until this quarter, we’ve primarily focused on donating to causes primarily focused on children in Sub-Saharan Africa. So, I wanted to make sure that we’re diversifying our donations to other regions and populations of need.

 

 

Have you ever prepared yourself for potentially getting let go or fired?

How was your March budget?

Did you have any major highlights or wins in March that you want to share?

 

 


Why Side Hustles Are Made For Modern Millennials
 

You can only connect the dots looking backwards.
— Steve Jobs

 
 
Note: I was at the “basic needs” portion of this pyramid for most of my young adult life.

Note: I was at the “basic needs” portion of this pyramid for most of my young adult life.

 

Jennie here.

Up until five years ago, I was stuck at the bottom of Maslow’s Hierarchy of Needs. After college I moved across the country to Boston, a city where I had no family, few friends, and no professional network. I even had to get a $2,500 loan from Ivan just to stay afloat, while I worked several part-time jobs for temp agencies and Club Monaco.

I was constantly hustling, going on failed interviews, and living paycheck to paycheck before I got my first job. At the time, taking side jobs was a necessity, not an option because I had real bills to pay. Rent, utilities, public transportation, food - it all added up to so much.

When I finally had a full-time salaried position - I thought I had made it. I thought there was nothing else I would need in this life except a stable job/income.

We've all been there, right? Frustrated and in some sort of millennial, quarter life crisis?

We've all been there, right? Frustrated and in some sort of millennial, quarter life crisis?

But, five years into my career - I became stagnant. Things felt too cushy and easy. Slowly, I forgot what it was like to struggle.

That’s when I realized something:

  • I’m not even doing what I love.
  • I’m 100% replaceable at my job.

  • Is the rest of my life going to look like this?

At any point, my job could be replaced by more senior or junior roles, consultants, contractors, freelancers, or realistically - it could be moved offshore to cheaper labor or eventually automated. I realized that I was just a small cog in the machine and I had no real power. I felt powerless and frankly - it threw me into an existential crisis.

What was I going to do with my life?

What did I want to come out of it?

Am I really going to tie my self-worth to a job?

This is when I started reevaluating my entire professional career. And that evaluation led me back to the side hustle.  


Frequently Asked Questions (FAQ) About Side Hustles


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What is a side hustle?

According to research conducted by GoDaddy, 1 in 2 millennials have a side hustle. There are three consistent components across all side hustles:

  1. Side hustles are typically not your primary income.

  2. Side hustles should add, not subtract from your financial stability.

  3. Side hustles empowers you with the freedom/choice to decide when, where and how you want to work.

There are two primary reasons why people pursue side hustles:

  1. Some people pursue a side hustle as a means to make some extra cash - to add to their overall net worth. More money allows you the flexibility to buy / consume what you want. For example, you need more money to take that vacation to Hawaii or you want to buy that new laptop, or you simply want to save money for a downpayment on a house. I’ve met Uber drivers who are parents that work full-time and do Uber part-time just to help pay the bills or to cover private school expenses for their children. And that’s great! More power to you if you can make that conscious choice.

  2. Others pursue a side hustle with the intention of creating financial independence and/or pursuit of a longer term passion or dream. In this instance, a side hustle is an asset that works for you; you don’t work for it. A side hustle is not a part-time job, nor is it part of the gig economy. If the intention of a side hustle is to create financial independence, then working within the gig economy accomplishes the exact opposite. In a world where technology automates and streamlines everything, most businesses that participate in the gig economy are in a constant race to the bottom. Think about how freelancers compete against each other on Fiverr (Ivan hates Fiverr and this commercial)- then imagine a version of this happening (eventually) to every industry.

Editor’s note: I’d rather clean toilets for free than let Fiverr earn a cent of commission off my back. There’s more dignity in it.


Why should millennials have a side hustle?

  • It increases your earning power and in turn - increasing your choices. It’s crucial to diversify your income/revenue streams because it ultimately means more choices. We can choose to diversify our revenue through investing in our 401Ks / retirement funds; another way to have more income is to re-invest your incoming revenue/income to fuel a side hustle or passion project.
     

  • Side hustles hedge against becoming stagnant and feeling cheated in your life. There are higher stakes when money is involved. Think of it as an incentive against continuing a mundane life where you dream about having “something more”. Think about it: are you really doing what you want to do right now? If you are, then great...but for the rest of us - a job is often just a job.
     

  • You can build something that’s just yours. Startups are cropping up all over the place to fill industry gaps and solve inefficiencies in our daily lives. However, the people who add lasting value are the ones who can find creative solutions to reimagine the norm - and doing it with their own unique twist. What you can contribute to society? Do you have a special talent or ridiculous knowledge about one subject matter? I’ve always wanted to do well at my job (and still do), but I’ve found that tying my self worth with my job just isn’t making me any happier. I want to create something that no one else can take credit for.


Four Things That I Did That Worked For My Side Hustle


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My own experience with side hustles:

  • How it began. It started when I realized that my job would always be tied to someone else’s business and someone else’s dreams. That’s when I ended up taking a real hard look at my life and what I wanted out of it. Think about it: what are you missing in your life? Do you want to travel more? Make more money? Pursue another career path?

    What do you want?

    For me, I wanted autonomy and more choice. I wanted autonomy and trust in my professional work. And I also wanted to travel and be location-independent. What’s more, I wanted the two choices to co-exist on the same platform.
     

  • How to begin. About six months ago, I started to look around in search of ‘gaps’ in the system. What could I do that was worthwhile to others, while also being fulfilling to me on a personal level? I realized that I had connections (or acquaintances) to startups that might need help with content generation. And how did I begin? I just started reaching out to several people that I knew to see if anyone would be interested in working with me. It took awhile but I started to get a few contracts. The money really wasn’t as important as proving to myself that I could start adding value anywhere.
     

  • Defining your side hustle goal. What is it that you want out of this experience? At first, Ivan and I had one simple goal: make enough cash (from our side hustles) to cover our monthly expenses (~$2,500). Once we had a number, we worked backward on how many projects and hours we would need to achieve that goal.
     

  • Being realistic about your side hustle. Let’s be real. Side hustles aren’t for everyone. And sometimes, it’s easier to just join the gig economy. But, if you don’t try...then how will you know?


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To our wonderful readers, I’d love to hear about more of your thoughts and experiences on this topic!

  • Do you have a side hustle? Or are you considering one?
  • What does that do for you right now? And where do you want to take it?

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5 Tips For Women Feeling Stuck in Their Careers
 

Jennie here.
 

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We missed the Thanksgiving publishing window to go camping in Joshua Tree, but we wanted to say thank you to all of our readers. We’re grateful you take the time out of your day to visit our humble blog.

Now back to regular programming.

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We've all got goals - whether it's personal or work-related, but the simple act of setting a goal doesn't equal success. Goals take action and commitment. You also have to have the perseverance to stick through the toughest days, even when it feels like nothing you do matters.


Challenges: Working In Tech As A Female Millennial

Even though I’ve done the right things (e.g. made myself valuable, delivered quality work, pitched ideas, took risks, spoke up at meetings, etc.), I felt like I’d trapped myself in “career limbo” for the past year.

Two years ago, I was the first marketing hire for a tech start-up. It was challenging but I was excited by the opportunity to build an entire marketing program from scratch. As we hired more people, however, and I had to “let go of my legos (responsibilities)”, I’ve found it difficult to pivot from a generalist (someone who has a hand in every project) to a more specialized leadership role (AKA “an expert”).

Even though I’ve done the right things (e.g. made myself valuable, delivered quality work, pitched ideas, took risks, spoke up at meetings, etc.), for the past year, I felt like I’d trapped myself in some sort of “career limbo.”

Here are the challenges I faced moving up in my company:

  • My company’s culture is heavily (alpha) male-centric. Currently, women only account for 17% of my organization. Frankly, I’ve found it difficult to overcome this “cultural fit” simply because I couldn’t relate to the casual conversations going on around me (i.e. sports or the latest fantasy football rankings). By contrast, a more recently hired male colleague on my team (perfectly nice guy, btw) quickly gained favor with the group that I’d been desperately trying to connect with - simply because they could relate to each other better.

  • People weren’t taking me seriously due to early perceptions. I came on as the catch-all person for marketing; I learned everything from scratch from lead generation to social campaigns to SEO and messaging. But I quickly realized (and confirmed) that in the eyes of my colleagues, I was seen as some glorified admin. I was always the go-to for logistical or tactical problems. The perception was that there was no way I could "handle" a leadership role.

Over the past month, I’ve been thinking through and processing how to push through these barriers. Maybe it’s just stubbornness on my part, but no matter how “unfair” a situation seems, or how heavily the odds seem stacked against me, I refuse to think of myself as a victim.


5 Ways To Get Back On Track

With Your Career & Goals


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For anyone else feeling like they’re stuck in “career limbo”, here are the steps that got me out of my slump:

  1. First, take a step back and breath. The world isn't going to end. Truthfully, reality just hasn't caught up to your expectations yet. In most cases, moving up within an organization takes time because you can’t just expect that you’ll gain immediate respect or forge new relationships overnight. It takes time.
     

  2. Make a list of all the things you've accomplished (that you're proud of) so far - this calendar year. The reason why is because we don't cut ourselves enough slack. When you map out everything you've achieved, you'll start to see that you've been making incremental progress all along.
     

  3. When you're feeling discouraged, do something to get you re-engaged and excited. I was losing confidence in my work and in myself because I felt stagnant. And what got me back on track was working on projects (e.g. freelancing) outside of my workplace. It helped bring a lot of perspective and confidence back into my life because I knew that I had a lot of skills to offer. The engagement also got me excited about other ideas for how I could improve at work. What gets you excited about your work and life?
     

  4. When it feels tough, let your emotions out. I'm not sure about anyone else, but sometimes I like to “cry it out” because it feels cathartic. I'm not saying you should do this in front of anyone - only someone you trust. When I'm at my lowest points (e.g. late nights after a long work day), I always have Ivan. He listens and offers rational (read: cold-blooded) advice because he’s not as emotionally invested in the situation. Those moments helped me stay sane and allow me to vent - without burning bridges at work.
     

  5. Get back on track by mapping out every single step. This is a little tedious but when you get frustrated, you should take a step back and write out every single step to get to your desired goal. Get into the nitty gritty and map out every minute detail. In my case, I had to think about all the ways I could re-engage with my co-workers and make a list of who to take out for coffee. I made a plan for how to present myself in meetings and drafted potential projects I wanted to pitch to my boss. I even thought about my next steps for a promotion and ways I could justify it.

I haven’t achieved my goals yet, but at least now I know what things are in my control. All of these steps help to bring some perspective back into my life. At the end of the day, I know I’m not saving the world. I’m just developing a different way of looking at personal obstacles that felt insurmountable yesterday.

This makes me feel grateful for today, while looking forward to tomorrow.