Career Chaos

CEO PAY: OUT OF CONTROL?

Coaching executives on managing their careers, I hear from those who pledge their lives to their companies, working long hours for barely a six-figure income. I ask them, "Is it worth it?" And they reply," What else can I do?"

I couldn't believe my eyes when I recently read an article in Business 2.0, "Ending CEO Pay Envy." I had no idea that CEOs in the U.S. earn "more than 170 times the average worker's pay." In Great Britain, the article continued, "that multiplier is just 22." So what's up with that? (BTW, CEOs earned only 40 times more in the 1970s - only...)

More stats from the article:

• The median salary for CEOs of the 100 largest U.S. companies hit $17.9 million in 2005 - a 25% jump over 2004
• U.S. workers got a 3% raise in 2005

What's the author's solution to the problem? He advocates that everyone stops writing about it as it just fuels the fires. If not discussed, the CEO pay pendulum will stop swinging and move back to its balanced state. Really? No, seriously, really?

So, think about this picture as you fire up your laptop at your son's next Little League game. Do you think you can become one of the CEOs in the out-of-this-world income levels? How many times have you won the lottery lately?

BUSINESS START-UP: IS IT FOR YOU?

Are you one of the many feeling driven to start your own business? If so, you are part of a growing movement among disillusioned corporate workers. Frustrated with no annual raises - or raises that equal less than the cost of living - people are tired of being squeezed out of their time as they work double shifts and longer. They are looking for solutions that give them more control of their work lives with a promise of higher returns on this time.

An article in the June 2006 issue of Business 2.0 Magazine, "How to Build a Bulletproof Startup," caught my eye. I was impressed by the clean and straightforward map of how to build a small business. I wish I'd had such a model when I started my career coaching business six years ago! If you've been bitten by the entrepreneurship bug, take a look. This article will help you decide if you have what it takes to start your own business.

Top 5 Ways to Jump Start a Stalled Job Search

1) Have your resume critiqued by a professional and certified resume writer. Ensure your self-marketing materials are promoting you in the most up-to-date manner with a spotlight on your proven results.

2) Seek out a career coach for a "career review." Most career coaches offer complimentary initial consultations. If you see the value in this service, you may be pleasantly surprised at the results you can get when you create a strategic career plan.

3) Get out of the house at least 3 times per week! This is critical - I know you've heard this before, but MOST jobs are landed through networking. Just as in dating, they don't come knocking on your door.

4. Make yourself "findable" on the Web. Write professional articles and publish them; post to a variety of professional boards (not just job search boards); and start blogging in a professional and informative way (beware of your digital dirt!).

5. Assemble a core support team of colleagues and friends on whom you can count to 1) introduce you to key people, 2) notify you of job openings in your field, and 3) offer you cheese to compliment your "whine."

6) I know, I said 5 ways, but this is a bonus I just had to add. TAKE CHARGE! It is possible to control your own job search instead of turning the reins over to recruiters and hiring companies. How? Get proactive by developing a lifelong career plan that includes an interactive/reactive/proactive network of the "right" people in your field. Don't fall into the trap of "career by default" instead of by choice. Instead, imagine your career as a chess game. Each of your moves is strategic and critical to your success.