Are You the ‘Corporate Type’?

Posted on December 4, 2012 by b4iapply

Meet James – the not so ‘corporate type’. He studied computer engineering and joined a big corporation immediately after graduation. He later did an MBA at a top business school in order to move to managerial positions and further advance his career.

After 10 years working in a large corporation, James was approached by a start-up and joined them for a short while. He didn’t share the same views with the founder and James ended up going back to his old company. A few months later, he realized that corporate life is not for him. He is now a VP at another start-up. He loves it despite the long working hours and the non-stop travelling.

James is one of the many people who found out late in their career that they are not the “corporate type”.

So, the question is: what makes somebody a ‘corporate type’? 

Ask yourself: Are you the 'corporate type'?

Ask yourself: Are you the ‘corporate type’?

In general, the common characteristics of those who have successful corporate careers are the following:

  • What you say is more important than what you do. Don’t get me wrong: results are important. However, being able to communicate them with a positive spin (even when they are not) is crucial.
  • You play the game. It doesn’t necessarily mean that you enjoy the internal politics. You know though how to navigate the system successfully. Also, having robust local and global networks helps.
  • You listen to your boss. You are happy to conform to the reporting structure. What the contract you signed says is that you will do what you are asked and they will pay you for it.
  • Patience is a virtue. It takes time for decisions to be made. Then, it takes more time to bring people along. If this doesn’t upset you, you are in the right place.
  • You don’t plan to rock the boat. You are ambitious, you want to achieve things but you also know that you are just a small part (although important) of a big machine. You fully understand that the higher you go, the more you have to abide with the corporate strategy and culture (even when you don’t always agree with it).

As a friend says, “a corporation needs to be run like the army with a clear chain of command to ensure discipline and consistency.”

If you have the characteristics above, you will fit well in a corporate environment. If you don’t, then you may want to consider more entrepreneurial options.

Irrespective of whether you are the “corporate type” or not, having worked at a big corporation for a few years especially at the beginning of your career can be quite beneficial.

Big companies provide you with training, structure and resources that can be invaluable when you decide to work at a start-up later on. If you are the entrepreneurial type though, jump ships before you become too comfortable.

The bottom line: Even if you work in corporate for many years, it doesn’t mean that you are the ‘corporate type’. If you don’t fit in, then consider opportunities in entrepreneurial settings.

Have you gone through this type of experience yourself? If yes, it will be great to share your learnings.

Korina Karampela is the founder of b4iapply, author of 2 books, coach and speaker. She has worked as senior pharmaceutical executive for 12 years and has an MBA from MIT Sloan. Her blog b4iapply is recommended by The Guardian for professional development.

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What Makes an Interim Manager Successful

Posted on November 21, 2012 by b4iapply

Korina Karampela talks to the resourcing manager of PiR Resourcing Emma Dorman about what makes an interim manager successful.

  • More people are choosing interim positions lately. Is it a sign of economic recession or a lifestyle choice?

It is most likely a combination of the recession, the desire to try something new and challenging, and people attempting to create a better work-life balance for themselves. In recent times, the economic recession has resulted in a large number of redundancies across a wide range of sectors. Interim management can be used as a stop gap for people who need a little more time to think about what they really want to do in the next stage of their career. Other people crave the variety that interim management can offer, or indeed the potential for part-time working, and others simply prefer being self-employed and keeping their distance from corporate politics.

  • What is the most common misconception about interim positions?

    Interim Management

    “To be successful, you need a great deal of knowledge and experience under your belt” says Emma Dorman.

Some people tend to assume that interim management is just a stop gap for those unable to find a permanent role. Many do not realize that interim management can also be a career choice and that a number of interims are self-employed with their own company.

  • Describe the profile of a successful interim manager.

 A successful interim manager will have a great deal of knowledge and experience under their belt and possess outstanding project management capabilities. They will demonstrate excellent communication and interpersonal skills; in this profession you will consistently find yourself in new companies and teams, and working with all sorts of personalities. As such, it is essential to understand how to fit in with these variables. You will be confident in your ability, leverage you network as much as possible, and invest time in self-marketing.

  • How can interim positions impact your resume and your long-term career?

Generally speaking I think experience in interim management has a positive impact on both. Interim management requires aptitude, expertise and focus, and employers admire these traits. It also provides the opportunity to develop new skills and learn about how other organisations operate which can offer valuable insight to potential employers. The only concern I have been faced with is whether an interim will be satisfied in a permanent role after being self-employed. The challenge usually faces those coming out of a permanent position looking to break into their first interim assignment, as they must justify that they have the capability to succeed without prior experience in an interim role.

  • What are the 3 ‘Dos’ and 3 ‘Don’ts’ that Interim Candidates need to be aware of?

The three Dos:

  1. DO make sure you are financially stable before embarking on the interim career path as there are likely to be times when you are out of work and looking for a new assignment.
  2. DO keep in touch with recruitment agencies. They always have useful advice and market intelligence to share and it is good to stay at the forefront of people’s minds.
  3. DO reconnect and stay in touch with people in your network. It is one of the most powerful tools you can use when seeking new assignments.

And three Don’ts:

  1. DON’T rush into anything without doing your homework. You must consider practicalities such as setting up a limited company, getting PI insurance, travel etc.
  2. DON’T assume your assignment will be renewed. Make sure you keep an eye on the market, and listen out for new opportunities at all times.
  3. DON’T forget to take a holiday! It is easy to become focused on staying in work, particularly when you are only paid for the days you work, but everyone needs a rest now and again.

The bottom line: Interim management is a valid career option and increasing number of people and companies realize the benefits it offers.

Korina Karampela is the founder of b4iapply, author and speaker. She has held senior positions in the pharmaceutical industry for 12 years and has an MBA from MIT Sloan. Her b4iapply blog is recommended by The Guardian for professional development. 

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Is It Worth Doing an MBA? Part III

Posted on November 13, 2012 by b4iapply

Is it worth doing an MBA? Well, I will give you an important fact that may help you decide: Out of the Fortune 500 CEOs  about 200 have MBAs. Of course, the interpretation of this statistic may differ depending whether you are the type of person who sees the glass half-empty or half-full.

In other words, you can say that just 200 of the Fortune 500 CEOs have MBAs or you can say as many as 200 have MBAs. In any way, this is a snapshot of the situation so far.

In general though, you cannot prepare for the future based on what worked well in the past. So, let’s try to think how the labor market may change in the future and assess whether an MBA will be able to fit these needs.

In the post Think Long-Term: You Cannot Predict the Future but you Can Prepare for it, I discuss the main expected trends and how they will affect us. In summary:

  • There will be a move from generalists to experts. It is not only me who says that.  Lynda Gratton who teaches at the London Business School is a huge advocate of this trend.

In order to differentiate yourself from the crowd, you should become an expert in a Is it worth doing an MBA?specific field. An MBA  is a general degree that prepares students for management positions. Although, you can choose a concentration or choose a couple of electives in a specific area, you will  not become an expert. If you want to acquire expertise, you need to consider doing a different degree.

  • Your social network will be a very significant resource for you.

The MBA is a great place to meet interesting people – classmates, professors and alumni. However, you will need to put time and effort to maintain this network after graduation. Otherwise, you will stay in contact with less than 10% (unfortunately they don’t warn you about this during your MBA).

  • Life-long learning will be necessary.

The good thing about doing an MBA is that you learn a bit about many things. So when you have to learn something new, you have the confidence to read a book, talk to somebody who knows the subject well, or join a course. 

Before you make a decision, consider carefully whether an MBA will help you achieve your SMART career goals.

Note that the labor market is governed by simple economics. Everything depends on supply and demand dynamics. If you have similar skills to many other people, it will be difficult to differentiate yourself. In  some cases, getting a specialized  degree might be the best way forward. As for myself, headhunters are still calling me for my health economic expertise (not my MBA).

The bottom line: Don’t follow the hype. Find out what academic credentials (if any) are needed to achieve your SMART career goals. Remember, the more specialized you become, the more employable you will be.

Korina Karampela is the founder of b4iapply, author, consultant and speaker. She has an MBA from MIT Sloan and held senior positions in the pharmaceutical industry for 12 years. Her blog http://b4iapply.com is recommended by The Guardian for professional development.

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Is it Worth Doing an MBA? Part II

Posted on October 29, 2012 by b4iapply

During the past ten years, many people have asked me whether it is worth doing an MBA. The problem with this question is that the answer differs from individual to individual. It depends on what you want to achieve by doing it.

So, how do I answer this question?

By asking them a  question (the best defense is attack). Why do you want to do an MBA?

The responses vary from ‘I want to fast-track my career’ to ‘I want to make a career change’ and everything in between.

These are valid responses. At the same time though, they are not clear and specific enough to be able to make a decision whether it is worth giving up your job and investing 2 years of your life and $100K in tuition fees (without even mentioning living expenses and opportunity cost).

Same thing happen in business. How many times have we jumped to solutions without having done a proper diagnosis of what the problem is? Sometimes they work but most times they don’t.

The best way forward is to have SMART career goals.Is it worth doing an MBA?

  • Specific: Where do you want to be in 5 years? In 10 years? Think of the job you would like to have e.g. vice-president in a mid-sized pharmaceutical industry.

The more specific your goals are, the better you will understand whether an MBA will help you achieve them.

  • Measurable: Find out what credentials are needed for the jobs you want to have. Is an MBA a must-have or a nice-to-have degree?  Does it matter where you do it? Is there another degree that might be more relevant?

Ask the people who make these hiring decisions what they are looking for.

  • Attainable: Now that you know what type of skills, abilities and attitudes you need to achieve your long-term career goals, you have to do a proper self-diagnosis.  Identify what experiences you already have and what you are missing. For the latter, think of ways how you can get them.

Note that in most cases there is more than one way to achieve your objectives. Friends and mentors can help you brainstorm options. In some cases, academic credentials might be the obstacle. In others, what you might need is relevant work experience.

  • Realistic: A career goal is considered to be realistic if you are both willing and able to work towards making it happen. It doesn’t mean that the goal shouldn’t be challenging. On the contrary, the higher it is, the more motivated you will be.

Don’t assume though that an MBA from a top school will help you accomplish your career objectives. It will definitely open some doors. Success though will depend on your performance on the job – not your academic achievements.

  • Timely: It is always useful to have timelines associated with your career objectives. You need to be flexible though because in life things don’t happen the way we plan. On the other hand, when we plan things, the chances of them happening increase.

Make a list of the skills and experiences you need to get  to achieve your career goals, how you are going to get them and by when. Remember, the majority nowadays do an MBA relatively early in their career (after having 3-4 years of experience).

The bottom line: The most difficult part of the process is to find what you really want to do in 5-10 years. If you are clear about your objective, it is much easier to assess whether it is worth doing an MBA.

Korina Karampela is the founder of b4iapply, author, consultant and speaker. She has an MBA from MIT Sloan and has been a senior executive in the pharmaceutical industry. The b4iapply blog has been recommended by The Guardian for professional development.

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Is it Worth Doing an MBA? Part I

Posted on October 16, 2012 by b4iapply

First, I have a disclosure to make. I have an MBA from MIT Sloan. I can’t say I had a fab time during these 2 years (far from it). I learnt a lot though – not only about business but also about myself. My professors and my classmates were great. Did it enhance my career? I am not sure. Am I happy to have done it? Definitely yes. Would I do it again? Possibly not.

When people come to me for advice whether to do an MBA or not, I am in a really awkward position. I don’t want to discourage them – the fact that they want to do an MBA (and all the sacrifices that come with it) shows they are ambitious. On the other hand, I want to tell them that the reality is not as rosy as it appears on the MBA brochures.

So, as an MBA graduate I decided to use a ‘tool’ to communicate this fine balance. It is called the SWOT analysis. This strategic planning method is used to evaluate the Strengths, Weaknesses, Opportunities and Threats involved in a business venture.

An MBA is a significant business venture (financed by you most of the times) and you need to do a thorough research before you embark on it.

Strengths: 

Is it worth doing an MBA? SWOT Analysis

Source: Wikipedia

  • You get general knowledge across various business topics
  • Your confidence increases from the minute you get accepted at top MBA (you immediately forget the other top schools that have rejected you)
  • You learn to ask the right questions
  • You get all the ‘tools’ you need to make a proper analysis (we love tools; five forces, 4Ps, SWOT analysis, etc)
  • It looks great on your resume
  • Your earning power will increase the minute you graduate

Weaknesses:

  • You are not an expert in anything.
  • You feel you are the best and all your co-workers hate you
  • Although you ask the right questions, you can rarely give the right answers
  • You hardly ever use these ‘tools’ in real life (unless you write blogs!)
  • On-the-job experience is more important
  • Those who go into investment banking skew the median salaries reported. Before you apply, take into consideration tuition fees, living expenses and opportunity cost

Opportunities:

  • It will boost your career
  • It will help you to make a career change
  • You will have a great network
  • It will open many doors

Threats:

  • Your future employer would like you to start from the lower ranks
  • If you graduate during a recession, you will be lucky to get back your old job
  • You stop being in touch with 90% of your classmates 2 years after graduation (For the remaining 10%, Thank God Linkedin and Facebook exist)
  • It will open a couple of doors only if you have gone to a top-tier MBA. Then, career progression will be purely based on your performance

Now that you have all these information, it is up to your to make a decision whether to do an MBA or not.

The bottom line: There is no doubt that you learn a lot from an MBA. There are many other ways to learn as well. If you decide to do one, I am certain you will ‘enjoy’ the journey. I can’t promise anything though about the destination.

Korina Karampela is the founder of b4iapply, author of 2 books, consultant and speaker. She has held senior executive positions in the pharmaceutical industry and has an MBA from MIT Sloan. Her b4iapply blog is among the professional development resources recommended by The Guardian.

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