Winter – A Great Time for Reflection and a Good Read

Been looking for a good read in the self-help genre? Check out these books reported on by our Armstrong Center for Alumni Career Services coaches:

Ego is the Enemy by Ryan Holiday

Last fall, an alumnus I met in Seattle recommended, rightly, that I read Ego is the Enemy. The author, Ryan Holiday, who at an early age found ego to be his enemy, demonstrates the ways in which ego is a great limiter in the various cycles of one’s career: during aspiration, during success and during failure. By sharing the stories of past and present fallen heroes whose egos sealed their fate, Holiday holds up the proverbial mirror, forcing you as his reader to reflect on your own ego and how it impedes your progress. He also gives refreshing examples of leaders whose humility, service-orientation and resilience enable great success. I derived many takeaways both personally and as a coach:

Never stop learning. You are never done. You are never entitled to sit back. “…updating your appraisal of your talents in a downward direction is one of the most difficult things to do in life — but it is almost always a component of mastery.”

Help yourself by helping others. Don’t worry about getting the credit; let others have it. “[You will] develop a reputation for being indispensable [and] have countless new relationships [and] an enormous bank of favors to call upon.” Be a team player. Holiday quotes soccer coach Tony Adams: “play for the name on the front of the jersey and they’ll remember the name on the back.”

Know what is important to you. Know why you do what you do so you can ignore what doesn’t matter. “Find out why you’re after what you’re after. Ignore those who mess with your pace. Let them covet what you have, not the other way around. Because that is independence.”

Failure does not define who you are as a person. It’s the way you handle failure that defines you. Take responsibility and admit you messed up. “[Don’t] throw good money and good life after bad and end up making everything so much worse.”

And my favorite…

“Perfecting the personal regularly leads to success as a professional, but rarely the other way around.”

Reviewed by Jen Coleman

 

Designing Your Life: How to Build a Well-Lived, Joyful Life by Bill Burnett and Dave Evans

“If you are successful, you will be happy.” Designing Your Life dispels this success myth and offers a design-thinking framework to guide us in building our ways toward meaningful careers and fulfilled lives. The book grew out of the Stanford course where Burnett and Evans teach the concepts of design as applied to the question, “What do I want to be when I grow up?” Reframing this notion of an endpoint is key to the work of design — accepting and embracing that a happy life is constantly evolving and there is no one right path.

The approach begins with a very simple self-assessment, then builds a guiding compass through answering a set of thoughtful questions about your views on life and work, develops a lot of possibilities, adapts those into some real alternatives, then explores the alternatives by asking good questions and creating new experiences. Methods like brainstorming and prototyping are applied to our life and career paths, and we’re encouraged to practice designer mindsets:  curiosity (seeing opportunity everywhere), bias toward action (trying lots of stuff), reframing (confronting and changing dysfunctional beliefs), awareness (focus on the process, not the outcome) and collaboration (asking for help).

Designing Your Life has excellent advice for anyone struggling to find meaningful and satisfying work.  The authors present an actionable framework and also expose the inherent flaws in traditional job search, presenting a compelling case that a well-lived life is a rich portfolio of failures, experiences and adventures.

Reviewed by Marty Speight

 

Act Like a Leader, Think Like a Leader by Herminia Ibarra

This book turns the concept of becoming a better leader on its head. For most leadership coaches, the process of working with a leader is focused on introspection and learning even more about yourself. Ibarra, however, suggests that the most important thing to do as a leader is to “Act First, Think Later.” She highlights three areas where a leader should work on this: redefining your job, diversifying your network and becoming more playful with your self-concept. She threads her “outsight” principle throughout the book, encouraging people to develop from the outside rather than the inside.

I’d recommend this book more for newer leaders than extremely seasoned leaders. Her theories are very interesting and she offers many anecdotes where her ideas have been successful. She offers suggestions on how to play with the three areas mentioned above to help a leader accelerate their progress. She even tells an amusing story about her struggle to command the classroom when she was a new professor at Harvard Business School and had to “fake it ‘til she made it” to succeed. The concepts are all good for new leaders to consider, but may be a bit redundant for those more experienced.

Reviewed by Lindsay Guthrie

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Want to Relaunch or Advance Your Career? Volunteer!

By Hallie Smith (MBA ’98)

I’ve always been pretty leery of New Year’s resolutions, but as 2016 comes to a close, I’m reflecting on how I’ve spent my time and energy in the past year. I’m certainly eager to contribute to the greater good in 2017. Community service has been personally rewarding to me, but there are great reasons to volunteer from a professional perspective. Volunteering can make it possible to build your network, explore new functional areas, develop new skills and take on leadership roles. Working with nonprofits can also provide a path to nonprofit board positions, which can be effective resume-builders for executive roles. Volunteering, as I’ve personally experienced, can also be an effective way to re-enter the workforce.

After Darden, I spent several terrific years at Deloitte. But when child number two came along, I decided to “stay home.” I quickly found limitless opportunities to volunteer in my children’s schools and our community, but I was looking for a better way to tap into my MBA skills. That’s when I heard about Compass, an organization that assembles teams of MBAs and other business professionals to provide pro bono strategic guidance to nonprofits. Next thing I knew, I was staffed on a Compass project for Horton’s Kids and, afterwards, was asked to join the Compass Board. When I was offered a position on the Compass staff this summer, I leapt at the opportunity. Today, I manage selecting our nonprofit clients, recruiting volunteers and staffing our project teams. One of the best parts of my new job has been working with our 16 partner business school alumni clubs, and especially reengaging with the Darden community.

Through Compass, I’ve witnessed and experienced these many benefits of volunteering. Volunteers not only leverage their expertise, but also find opportunities to develop new skills that can augment their professional capabilities. They engage with nonprofit leaders and make professional connections on teams. Compass team members see the impact they have on a nonprofit’s ability to carry out its mission more effectively and efficiently, and they often build lasting relationships with clients that extend long after the projects end. Many Darden alumni have not only served on Compass projects, but also have participated in Compass’ On Board program, where professionals are matched to nonprofit boards.

Just in time for the New Year, I’m thrilled to announce Compass’ 29 new Micro Projects in Washington, D.C., which will run from late January through May. We are also launching Chicago’s first round of projects in January.

If you feel as if your for-profit efforts at work are outweighing your philanthropic efforts in life, are looking to dust off your MBA or want to get involved in more substantive volunteer work, you may find a Compass project rewarding on many levels. Please visit http://compassprobono.org/ to apply for upcoming projects in Washington, D.C., and Chicago, as well as learn more about On Board — headed up by Nalini Rogers (MBA ’86) — and our ongoing projects in the D.C. area and Philadelphia. We would love to connect with you and help more Darden alumni than ever find meaningful community engagement in 2017!

Hallie (Hastert) Smith graduated from Darden in 1998 and now serves as Director of Consulting Programs for Compass.

If you are interested in exploring how volunteer opportunities might enhance your career, reach out to Alumni Career Services, and schedule time with a coach.

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Demystifying Executive Search

If you are actively searching for a senior-level job, or if you simply want to be considered for new opportunities in your field, executive search professionals are an excellent resource to include in your proverbial Rolodex.

Recently, BlueSteps,* the executive career service of the Association of Executive Search and Leadership Consultants (AESC), hosted a free webinar entitled, “Executive Search and Your Networking Strategy.” The webinar included three panelists who are senior leaders of top-tier executive search firms. These professionals provided valuable information that addresses the primary question our alumni clients ask: “How do I make myself visible to executive search professionals?”

  • Focus on the relationship, not the transaction. Find a small number of search professionals that are a good match for you and treat them like any other important networking contact. When you reach out to a search firm, don’t spam the entire office — try to find the person in the office who represents your target industry or function.
  • Convey a clear goal. Perhaps you are afraid of pigeonholing yourself; perhaps you aren’t certain — in either case, a search professional does not want to have to figure out what’s best for you. This is good practice in general networking — you are easier to help when your audience knows what you want and why.
  • If a search professional calls you, call back! Try to be helpful even if you aren’t interested. Spencer Stuart, one of the most respected names in executive search, actually keeps track of candidates’ responsiveness and willingness to suggest ideas.
  • Take LinkedIn seriously. Complete your profile with a professional photo and content that is likely to appear in searches executed by your target audience. If you need help with your LinkedIn profile, schedule a review with an ACS coach.
  • If you are contacted by a search professional, be honest about your interest in the role. If you are interested and this is a professional/firm that you trust, be honest about your compensation history and expectations. If you have concerns about sharing your compensation history or are unsure of your expectations, an ACS coach can help.

* If you are interested in becoming a BlueSteps member, Darden alumni are eligible for a discount. Click here for more information.

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Introducing Alumni Advisors

The Armstrong Center for Alumni Career Services is thrilled to announce the launch of our pilot Alumni Advisor Program.

What is the Alumni Advisor Program?  Similar in concept to the Second Year Advisor program offered by Darden’s Career Development Center, the Alumni Advisor Program is designed to offer our clients the opportunity to speak with senior-level alumni in their professional areas of interest.

What areas of expertise do the current advisors represent? For the pilot, we have enlisted six highly accomplished alumni to serve as advisors. Marketing, entrepreneurship, private equity and management consulting represent the professional areas of expertise for four of the alumni advisors. The other two alumni are focused on very specific types of career challenges — career relaunch after hiatus from the workforce and transitions to the private sector from military careers.

What is the difference between a coach and an advisor?  ACS Career Coaches are paid, trained coaching professionals whose guidance is generalist and applies across industries and functional areas. Most importantly, ACS coaches are here to provide ongoing relationships and support to our clients. Advisors are alumni volunteers and are available for one-time informational conversations around their specific areas of expertise.

How do I connect with an advisor? If you are interested in speaking with an alumni advisor, please reach out to Alumni Career Services today! If you haven’t already been working with one of our career coaches, we suggest that you have an initial dialogue with one to ensure that you maximize the value of your conversation with the advisor.

Why do I need to speak with a coach before speaking to an advisor? In general, we prefer that you start with a coach to ensure that we pair you with the correct advisor and to broker a conversation that will be most productive.

What if I want to be an advisor? If you are interested in volunteering for the Alumni Advisor Program, please contact Alumni Career Services.

The Alumni Advisor Program is a celebration of the strength of the Darden network and the vibrant sense of community that is special to this institution. Alumni Career Services is incredibly appreciative of the generosity of our advisors, and we hope that you will take advantage of this valuable resource.

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Land the Job with a Solid 90-Day Plan

Landing a new job requires not only demonstrating that you’ve got the required skills, but also convincing the hiring manager that you’re a great fit for his or her organization. Once hired, you typically have about 90-days grace period to establish yourself. This first three months in any new role or company is crucial. It’s a time to build credibility, get traction and assimilate.

Creating a detailed plan for your first 30, 60 and 90 days on the job can increase your chances to shine in interviews. In fact, for senior management roles, it’s increasingly common for the prospective employer to ask for a plan as part of their evaluation. Even if you aren’t asked to formally create a 90-day plan, it’s an excellent way to prepare for late-stage interviews or start in a new position.

By taking the time to build a specific plan, you’ll demonstrate that you’ve done your homework and that you take personal responsibility for being effective and productive as you on-board. A plan will reveal your ability to think strategically about the company. It also ensures the hiring manager that you understand the role and are ready to tackle any challenges it presents. As you communicate your ideas about a smooth transition, you’ll help the hiring team envision you in the role.

So, how do you go about creating an effective 30-60-90 day plan? To be sure, there are challenges — you may face time pressures, lack of visibility into the organization, or uncertainty about specific goals. But remember, making a plan at this stage isn’t about getting everything right, it’s more about asking good questions during initial discussions and researching to develop an informed point of view.

The plan itself is simply an outline of how you’ll approach the first three months on the job; it should be both detailed and customized to the specific employer. The information you need for building your plan can be found in a variety of ways:

  • Job description and discussions with recruiter — be sure to delve deeper into specific pain points and what’s driving the need to hire for this role
  • Interviewing — asking pertinent questions in the early rounds of interviews
  • Networking — gathering details from both current and former employees; look to public profiles (e.g., LinkedIn) of peer or related positions
  • Company’s public presence — checking multiple sources including the company’s own website, social media presence (Twitter, Instagram), investor and analyst reports, etc.

As you construct a plan, consider these key aspects of each phase:

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Proactive planning is a great preparation aid for late-stage interviews or getting off on the right foot in a new position. Leadership guide and author Michael Watkins points out in The First 90 Days, “Your day-to-day actions during your transition will establish the pattern for all that follows, not just for the organization, but also for your personal efficacy and ultimately your well-being.” Check out his book if you’re interested in a deeper look at transition challenges.

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Coming to a Chapter Near You…

Alumni Career Services is excited to announce that we are going on the road this year! Been thinking about a career change? Want some networking tips or feedback on your LinkedIn profile? Seeking a promotion? Considering reaching out to Alumni Career Services but haven’t picked up the phone? Well, we are going to come to you!

Starting in September, we will be visiting one Chapter a month to host an informal networking gathering and invite alumni to sign up for a one-on-one session with a Career Coach.

Click here for our coach bios and sample coaching topics.

Click here to learn what career coaching is all about.

We will be kicking off the road show in Richmond on Friday, September 16th, followed by Atlanta on October 28th and Seattle on November 11th. More locations and dates to follow. Look for details via your Chapter email listserv and social media.

We are looking forward to meeting you!

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What a Career Coach Can Do For You

What exactly do Alumni Career Services (ACS) coaches do?

This is the question that starts many of my coaching sessions. In my first eight months at Darden, it has been my privilege to meet with many Darden alumni who are pursuing change and advancement in their careers. I am hopeful that an explanation of our career coaching might encourage more of you to take advantage of our services.

In thinking about my role as a career coach and what ACS coaches can mean to you, I can’t help but draw on parallels from my coachee experience. Some of you know that I am an avid triathlete. (Avid, not elite!) Since 2011, I have competed in about a dozen triathlons including one full and four half Ironman races. I am currently training for the Louisville Ironman and am working with a seasoned and certified triathlon coach. While I can download hundreds of training plans off the internet for free, I extract notable value from working with a professional. A coach holds you accountable, shares knowledge and offers perspective.

Every day, I log my workouts online for my coach’s review. This accountability can be the difference between me running on a cold, dark winter morning and staying in bed. You don’t graduate from a top program like Darden without exceptional personal accountability, discipline and achievement orientation. However, when you are juggling work, family, hobbies, volunteering and life, career management might slip off the radar screen. Partnering with a coach to set goals can provide the extra motivation you need to turn goals into accomplishments.

ACS coaches can work with you to establish goals, a framework, a timeline and deliverables.

A great coach is not always a great athlete, but should possess great knowledge of her sport. My triathlon coach happens to be a great athlete, but that is not what makes her valuable to me. First, it is her understanding of the science and the techniques of triathlon that help me make the most of my abilities. In ACS, we do not know your business better than you do. In most cases, you are the industry or functional expert. We are here to help you recognize, measure and articulate your expertise, talent and value to an organization. We know the questions to ask and the techniques to share so that you can showcase your unique abilities.

What I value most about my coach is her perspective. She has competed herself and trained other athletes for many years. She has seen everything on the success-failure spectrum. She helps me to benchmark and set my own expectations. As achievement-oriented, highly successful people, you are likely to be your own harshest critics. Career management, especially job search, can be humbling and tiring. Networking can be intimidating. As career coaches, we in ACS have “seen it all.” Let us help you to reflect on what is possible, to remind you how talented you are and to give you that boost of energy to keep you moving forward.

ACS coaching can be a one-off conversation or a series of sessions — the frequency and duration of your relationship with ACS is driven by you and your particular needs. Whether you are actively seeking change or simply trying to position yourself for advancement, we are here to be your sounding board, your knowledge resource and your advocate.

And unlike my triathlon coach, we are free of charge to Darden alums!

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Increasing Interview Confidence

“When I get to the interview, my brain just goes blank.  What can I do?”

This is one of the most common issues we hear in Alumni Career Services. While at Darden, you were most likely interviewing and networking with more regularity than you are now. As alums, it is not unusual to go many years without an interview, so feeling nervous and unprepared is quite normal. There are both tactical and strategic things you can do to increase your interviewing confidence.

One of the more energizing ways to gain confidence is to do a two-minute power pose before your next job interview (in your car or in the bathroom). Of course, you are wondering, “What in the world is a power pose?” Harvard Business School Professor Amy Cuddy conducted extensive social science research on how to “fake it until you become it” and then unveiled her research in 2012 in the second most popular TED talk (33+ million views) of all time. She explains how body language affects how others perceive us, but also how our own body language affects our personal testosterone and cortisol levels, thereby affecting our performance. She has discovered that doing a two-minute power pose before something stressful like a job interview can lead to much better results. Watch the video to see exactly the pose you need to make and then find a quiet place before your next interview to do this power pose to increase your confidence.

Of course, doing a power pose doesn’t solve the problem of what to talk about once the interview begins. We find that having seven to nine prepared stories in your arsenal makes a huge difference in being able to answer most behavioral interview questions. To come up with the stories, you can use the  STAR chart (yes, a very similar chart to the one used while at Darden with the Career Development Center). Try to pick stories across a range of your professional experience, though concentrate most of them around your most recent positions. In addition, when you are filling out the STAR chart, remember that the interviewer is most interested in your analysis and results and less interested in the situation and task. The chart already has six categories built in, but we recommend adding two or three more based on the job description for which you are interviewing.

In addition to the STAR chart, it’s also very helpful to go over common interview questions. Glassdoor published a good list recently of the top 50 most common interview questions.

After you get your STAR chart ready, your confidence will continue to grow if you can do a few mock interviews prior to the big day. The coaches in Alumni Career Services are always willing to do a mock interview and your former Darden classmates are also incredibly rich resources for preparation.

Approach the mock interviews like a real interview as much as you can so that you can identify areas of improvement. Generally, two or three 45-minute mock interviews will be enough to help you practice your stories, increase your confidence and tweak anything that needs fine tuning.

As always, we are here in Alumni Career Services to help you be successful. Please feel free to contact us to set up a one on one coaching session, and review our job search toolkit for templates, tools and advice on approaching your next search.

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Welcome to Darden Alumni Career Services’ Newest Coach

Alumni Career Services is pleased to announce the addition of Michael Kirkman to our coaching team.

Mike has worked in the area of executive search for nearly 30 years. Over the course of his career, Mike opened Spencer Stuart’s Washington, D.C., office, ran Korn Ferry’s Mid-Atlantic Region, co-founded one regional executive search firm and was a partner in another. He has conducted assignments across a broad range of industries and functions, assisting companies of all sizes and stages of development. Most recently, he has been focused on financial services, professional services, defense contracting, and education and nonprofit. He has also been very active over the years in the finance function — particularly CFO and senior tax roles — and has conducted numerous board assignments.

Best of all, Mike is a proud Hoo (Col, ’75) and Charlottesville resident. Mike holds an MBA from the University of Chicago Booth School of Business.

We are thrilled to welcome Mike to the Darden family and to broaden the ACS offering in service to our alumni.

Whether you are actively seeking a job or facing career-related challenges in your existing job, ACS is here to assist. To schedule an appointment with a coach, please reach out to us at alumnicareerservices@darden.virginia.edu.

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Negotiating for Your Best Job Offer

It’s the time of year for a few of my favorite things: warmer weather, March Madness (how are your brackets?), and … job offers! We’ve seen a marked uptick in promotions and new job offers lately, so it seems a good time to review the topic “how to negotiate.” Here are some common questions and scenarios we field when coaching alumni.

How do I know my real worth in the market?

First, understand that any job opening has market value based on the hiring company’s health, growth, and history, as well as the relative scarcity of skills and requirements needed to succeed in the job.  Most companies have a base salary range for a role. If salary isn’t revealed up front you might ask, “Can you give me an idea of the salary range for this position?” On the Compensation page of our Alumni Career Services Job Search Toolkit, we recommend a variety of research tools, noting that Glassdoor has become an essential resource for most. Be sure to look at a wide range of reported salaries, different companies within an industry, and variations of job title and location. Tapping into your Darden network can be helpful as well, asking industry insiders broadly, “What level of salary is expected in this role?”

Do I have to reveal my current salary when asked?

Job candidates are often asked early in the screening process, “What are your salary requirements?” or “What do you currently make?” Most candidates balk at revealing their salaries, thinking that will give away leverage they might need if they ultimately get an offer. However, recruiters use current salary not to anchor a negotiation, but to ensure that they can afford you. Candidates should never lie about salaries because some companies ask candidates for past paystubs as part of the background check.

You may be able to deflect this question by demonstrating that you’ve done your homework with a statement like: “My read of the market leads me to believe that this job should have a base pay between $X and $Y, and I’m comfortable in that range. I’m confident that if you decide to offer, we can come to an agreement.” However, we advise mentally separating this question from a negotiation later in the process. It is possible to achieve large compensation jumps.

Who should I negotiate with?

Once you’ve landed an offer, the next important element to consider is who you’ll negotiate with.  Offers are often presented by a recruiter or HR representative, but rarely does that person have the power to negotiate. That person may act as an intermediary, but only you can best represent your interests. If the offer is presented by someone other than the hiring manager, ask for time to consider, then reach out to the hiring manager with a gracious thank you and request to discuss your questions and concerns directly.

How do I negotiate higher compensation?

Start by prioritizing which aspects of the offer you value the most. Total compensation has a number of financial components — base salary, annual bonus, signing and/or relocation bonus, and equity. Any up-front bonus will not be a part of the equation in a future salary increase discussion, so it’s usually to your advantage to gain more on the base than the other components. Also, ensure that you understand when and how future salary increases will take place, as well as the specific hurdles that must be met in order to earn a bonus. Our Job Search Toolkit’s section on Negotiating includes a set of guidelines as well as a checklist of compensation and benefits.

When making your counter-offer to the key decision-maker, state your expectation, make a brief case that you believe your experience deserves this higher number, and ask simply, “What can you do for me?” Building your case should always focus on your skills and potential, never on your personal financial wants and needs.

The job I’m being considered for is structured very differently than my current role and the pay isn’t comparable; how can I convey this to the hiring company?

You may be leaving a higher paying industry or city for a job that promises a more favorable lifestyle. Conversely, maybe you are moving from an early stage startup to a more traditional corporate position. In either case, it’s equally important to do compensation research around your target role.  Acknowledge to a recruiter early in the screening that you’re aware of the gap and describe why you’re still a great fit for the job.

I’m in late stage interviews with two different potential employers and expect offers from both; how do I deal with the timing of the offers? Can I share the offer terms from one employer to leverage the other?”

It’s exciting to get two or more offers, but also daunting because you can’t control the timing of each offer, and you may be pressured to give a quick answer before you have the information you need to make an informed decision. In this scenario, think carefully about the possibilities. Compensation aside, which company is the best overall fit in terms of role, industry, growth, culture and personal factors?

When you get the first offer, express your enthusiasm and ask for time to consider. Immediately let the other organization know that you have an offer in-hand, but you are still very interested. Ask for their decision timeline. If they tell you, for example, “two weeks,” then you know how much time to request from the first employer. If the first employer insists on an answer before the second employer will decide, you have three choices:

  1. If the first employer is your first choice, negotiate the offer independently and move forward.
  2. If the first employer is your second choice, think about why. What would the offer need to be to make it more desirable? Higher comp? Better title? Flexible work arrangement? What would make you comfortable accepting before you know the outcome of the second employer? See if they will meet your needs.
  3. Politely explain that you are not prepared to accept at this time, but you remain interested. Ask to keep communication open in case the position is still available when you are ready to decide.

I’m considering joining an early stage startup; how do I value a possible equity stake?

Unfortunately, there is no straightforward way to value an equity stake in an early stage startup. Many important but obscure factors influence equity valuations: number of current equity holders, current shares outstanding and granted, methodology for internal values of each share or stake, vesting time-frames, number of outside investors (now and potentially needed in the future), and how the founders envision growth and ownership going forward. Often, senior candidates considering joining a startup will be asked to make a trade-off in cash compensation for some portion of equity, knowing that the liquidity of the equity is usually pure conjecture. It’s best to have a detailed dialog about all these factors when possible and, ultimately, know that your personal sense of risk tolerance is the most important factor to consider.

The hiring company has specified a start date that conflicts with my current plans; can I ask for something different?

Many companies have a provision for the term needed to work before becoming eligible for benefits, so it’s important to understand the effect of your start date on that eligibility. Most companies will be flexible on this date given your need to give notice and transition. Most companies’ health care coverage extends through the end of your month of resignation and begins on the first of the month after you start. Therefore, it can be ideal to end and start a job within the same calendar month so you don’t have a gap in coverage.

And after you’ve sealed the deal, be sure to review our tips for Starting a New Job!

Of course, each person’s situation is very unique; if you find yourself facing a tough salary negotiation, call on Darden’s Alumni Career Services for support.

Marty Speight ‘96, Career Consultant for The Armstrong Center for Alumni Career Services at the University of Virginia Darden School of Business

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