Question: If Warren Buffet offered you the choice of $200,000, or a 1 year internship - which would you choose?
Personally, while the idea of pocketing $200,000 may undoubtedly have its attractions, so does the idea of working directly for Warren Buffet!
Let me give you some background information on this guy Warren.
Buffet (Sort Of Rhymes With "Muppet")
Warren Buffet is a largely successful business man, philanthropist & investor. With a net worth equaling over $62 billion, Warren Buffet has, once again, graced the Forbes Top 400 Wealthiest People in America List, coming in at a cool #2. As the largest shareholder of Berkshire Hathaway, Warren Buffet is a self-made billionaire and household name. This breadth of corporate success has positioned Warren Buffet as one of the most influential people in America!
Many of us will undoubtedly come to a crossroads in our career where we will be faced with the decision to choose between either title or salary. This choice can look either one of two ways (if there are more ways than this, please let me know):
1. An inflated title and a deflated salary.
2. A deflated title and an inflated salary.
Landing a job with a top title is hard work. These positions are coveted because of their ability to amp up your resume, and open you up for future corporate success. Companies are also aware of this, and may leverage this knowledge to their advantage by coupling a top title with a deflated salary.
Now before you go demanding both title and salary, understand that these two options have their own perks and drawbacks. In order to make the right decision for your career, you will need to weigh the pros and cons of each. When you are faced with this decision, here are just a few things to consider:
Consider if the company's reputation is worth taking a hit in either salary or title. While a top title can do wonders for a resume, a "lower" title at a more influential company can do just as much.
2. Career Positioning
The choice between title or salary can also be weighed based on your career positioning. If you are new in an industry, and looking for a position within a competitive field, title can most definitely precede salary. It may be wise for you to use an inflated title as a steppingstone in your career...at least temporarily.
3. Do What Is Right For You
Job searching is an emotional roller coster. You experience the highs of affirmation and approval, and the lows of flat out rejection. While both approval and rejection can be used to create positive and constructive lessons, it is imperative that your emotions do not cloud your judgement and drive the final decision.
You know how people always say - it just feels right? Well, sometimes, in the moment, it doesn't. Sometimes the right decision is still flat out hard, but you need to work through that and do it anyway. Mentor and friend Chris Owen (VP of Student Development at SEU) once told me something that I continue to live by:
" Act your way into a feeling, not feel your way into an action."
Think about it. Sometimes, we must simply do the things we need to do, then let our emotions catch up. Now, don't go taking this the wrong way. I am speaking in relation to career progression here. Don't decline the awesome new job opportunity because deep down you're afraid of failing at it. No. Instead, make the jump and one day soon you will see that you are fully capable of doing the job! Make sense?
When choosing between title and salary, it is important to remain as objective as possible. In the end, you must do what is right for you! Understand that the decision will look different depending on your individual situation. There is no right or wrong answer to this question.
So, keeping in mind your current career positioning, which would you choose? $200,000 or a 1 year internship with one of the most successful and influential people in America?
Stasia | Rose