Career Growth – Hungry enough for Earnings and Learnings?
Do you have the same amount of hunger that you used to have in the initial phase of your Digital Marketing career with respect to learning and earnings? Or has it gradually kept on decreasing as you moved up the corporate ladder?
Comfort or Growth? Everyone has a choice.
I know that currently you wish to enjoy your life and just pay minimum attention to your career growth as life does feel much more comfortable and considering the current position that you are in, you are clearly able to manage your expenses, do some investments, spend on outings and after all these also have a good amount of savings.
My Definition of Growth – Try having your own customized definition of growth.
This is how I have defined the process of growth for myself.
- Acquisition of new knowledge or skills
- Ability to demonstrate the application of the new knowledge gained or the skill learned.
- Once applied, an opportunity or provision to understand the impact of the skills applied or knowledge gained.
- The Game Play – Keep on practicing the new skills or knowledge acquired for at least a period of 2-3 years while ensuring the above two points.
- Once the game play is done, you will have a clear understanding of the value you hold and provide.
- Speak through your work.
- A clear growth in compensation or the amount you make as the value you hold and provide has increased [This is a clear quantification of growth, but it is not the only parameter]
- Expand your horizons – Keep on acquiring new skills and upgrade your arsenal and advance through trial and error.
Ensure that you also have a customized definition for yourself and try to follow that process of Growth. And if at any point you think that you are not meeting the definition or the process you set then you might consider taking some action.
Pace of Career Growth – Earnings
But this thought of pace of growth with respect to remuneration and learning is what I would like you to think about. Consider the starting salary of your career and your current salary, also the learnings that you used to get in the initial phases of your career versus now. Suppose you grew your salary by 3x-5x as compared to your first salary in a span of 3-5 years, along with a similar increment with respect to your learnings. Now if you consider your current situation with respect to salary and learnings do you think that within the next 3-5 years you would be able to get a similar scale of growth or at least half of that pace of growth?
Let’s take an example: If your starting salary was 20000 Rs monthly, and during the past 3-5 years you have managed to grow the same by 3x-5x it comes to 60000-100000 monthly.
Now considering the current situation where your salary is ranging between 60000 Rs to 100000 Rs monthly would it be possible to attain the same growth pace in the next 3-5 years or at least the half of it?
Considering a reduced pace of growth by half which would be 1.5x-2.5x, and your base salary as 60,000; the new numbers come out to be 90,000-1,50,000 per month. And if we wish to maintain the same growth pace which is 3x-5x that you got in the initial phase of your career it comes to 1,80,000-3,00,000 per month.
You might think that the remuneration in the initial phase of your career was less and hence that growth.
Comparing the growth – Companies vs Personal Careers – Your perspective appreciated
But what I have observed is companies that are making a good amount of revenue always try their level best to maintain their pace of growth not on a yearly basis but on a quarterly basis! so why should the same not be applied to career? Do let me know in comments or by any other medium what do you think about this.
I believe that’s possible, but it requires some additional efforts and constant planning. Also, a great amount of clarity with respect to your career would be required. Do let me know what’s your perspective on this.
Pace of Career Growth – Learnings
Now the growth that you witnessed in the initial phase of your career, can be attributed to the new learnings and the basic foundational skills that you acquired while doing the job. This led you to provide more value and the result for which is the growth that you attained.
Now one thing I would like you to give a thought to is – Are you still having the same amount of new learnings or building new skills at the same pace that you used to acquire in the initial phase of your career? Or the pace of both the things has reduced or maybe you are just using your past learning and skills repeatedly but just for different projects?
If you think that you are having the same pace for both the learnings and skill-building, then this might ensure you with the same pace of growth in the future [This is what I think and believe]
And if it’s the other way around it might get a bit difficult to have the same pace of growth.
More R&D – Maintaining the career growth pace.
I am planning to research more on this and understand how we can ensure a CONSISTENT pace of growth in our career and write an article on the same, which would cover some basic pointers that are needed to be ensured in order to maintain the same pace of growth from both learning and earnings point of view.
Thanks for reading till the very end! I would like to know your perspectives as well in the comment section.