One "layoffs are coming, protect yourself" strategy I used in the past is identify you the executive is on your team that would have the final say of who gets cut, figure out a pain point they have with the team at large, and take steps to fix it outside your normal duties.
Be on their radar in a positive way additive to what they already are paid to do. I when the pandemic first hit, and it directly led to me getting promoted twice in the bull run when it came.
To piggyback off the museum information: I'll schedule my next Substack to be about which museums are good/bad. Plus a few other details. I'm getting museum DMs as well, so a quick post should alleviate the flood all-around.
I recall that you have said previously that middle mgmt is the most susceptible cuts, do you still think this is the case during downsizing? I feel like they're usually the most useless and get paid a ton relative to their production.
Small tip on making yourself more visible at work.
If you're firm does hybrid work, come in on Friday's. Its the day where the majority of people will stay home but senior people will likely be in if they're revenue generators. Shows commitment and contrast to your peer set.
Doesn't work for everyone's situation but helpful.
I know you guys have been proponents of VOO as a good index fund. Given tech layoffs is there another fund you suggest? Will get a large lump sum for bonus in beginning of January and want to allocate a ~75% into something low risk but liquid.
If you haven't had a vacation in 2 years, take at least 2 weeks and do a cheap vacation. Whatever you view as cheap and your style.
Could be thailand, could be south america, could be USA, could be canada, Could be japan, could be africa. Doesn't matter
Just do something relaxing and fun and then get back to the search. Just don't do anything expensive so you don't feel stressed while taking a couple weeks to relax
(Logistics sales) Got put on a PIP sept 1; interviewed while crushing my numbers so I am no longer on the cutting block for the short term.
Should have a few offers coming my way over the next month or so... 10% raise at best within the same industry. I am “liked” by my team & boss but also was in the bottom of the pack.
How to interpret the picture that attracts your attention. I didn't get the second part, should we post it to BTB in insta for BTB analysis? Didn't get that part, if someone got it please help
Hey BTB .. What's your opinion on top cities to transplant to in the US if you're trying to build? I work remotely in tech (finance @ SaaS) and am working on getting the WiFi income going. 30 yrs old, single, pretty free to go wherever.
I’m a well liked tradfi fund lawyer working easy hours and getting promoted 31 Dec - will then be on ~280k US. Am interviewing for crypto start-up GC roles that pay $350k+. One I’m going for is even paying $500k + equity. I’m not challenged in my job and love crypto (been doing anon-law Twitter work for 2+ years). Minimum comp rise I’ll move for is 25% and only to startups with significant cash runway (3+ years).
Am I insane to be doing this right now? GF and parents think so but I’ll enjoy my work way more and also make more money, provided the start-up doesn’t explode…
[Also have a WiFi biz that ticks along and brings in about $10k pa but getting tedious after 2 years of work]
Started a new job this year. 3 more months before I’m off probation (long probation). I’m a medium performer, was coasting to start my side business. Just found out wife is pregnant. Am I safe from being fired if I subtly mention to my manager that my wife is pregnant and I want to take some paternity leave, cause of the potential lawsuit for discrimination on the pregnancy if I get fired over the next year? Or am I painting a target on my back, especially since I’m on probation? My industry is insurance, which is supposed to be counter cyclical which gives me hope of not being laid off. No layoffs yet, but my company last week announced that they’ve scrapped the special committee created in 2021 to acquire and retain talent, because they had so many employees job hopping to other companies, which makes me think they’re no longer worried about hiring more people.
You've only been there for a few months, you have to work as hard as you can and juggle both. That's just how it is. After you establish yourself at the firm you can move around and take more risk
Outlier question: I'm a top performer, but I'm paid literally 10x to 20x of the bottom performers in my group (crypto dev). Leadership is experiencing pains and wants to cut. Am I next being paid so much more? Do I need to step it up even though the junior devs are absolute trash? I honestly don't know.
How would you go about running the math on this? I can see how to do it if it were a sales type position where you're directly involved with selling and generating revenue, but what if it was something like a software developer?
I love how BTB's autism just turned him into a Jungian psychology practitioner
One "layoffs are coming, protect yourself" strategy I used in the past is identify you the executive is on your team that would have the final say of who gets cut, figure out a pain point they have with the team at large, and take steps to fix it outside your normal duties.
Be on their radar in a positive way additive to what they already are paid to do. I when the pandemic first hit, and it directly led to me getting promoted twice in the bull run when it came.
love your museum and lifestyle content on IG. good way to turn off your brain and distract from internet activities by going to museum.
even better feeling when doing art yourself. picking up drawing turned out to be a good hobby for fun and meeting women
Could see how that would work
To piggyback off the museum information: I'll schedule my next Substack to be about which museums are good/bad. Plus a few other details. I'm getting museum DMs as well, so a quick post should alleviate the flood all-around.
I recall that you have said previously that middle mgmt is the most susceptible cuts, do you still think this is the case during downsizing? I feel like they're usually the most useless and get paid a ton relative to their production.
Small tip on making yourself more visible at work.
If you're firm does hybrid work, come in on Friday's. Its the day where the majority of people will stay home but senior people will likely be in if they're revenue generators. Shows commitment and contrast to your peer set.
Doesn't work for everyone's situation but helpful.
I know you guys have been proponents of VOO as a good index fund. Given tech layoffs is there another fund you suggest? Will get a large lump sum for bonus in beginning of January and want to allocate a ~75% into something low risk but liquid.
What would Bull do?
Laid off last week, getting severance pay until March. Thinking of next steps
How does this sound? Begin recruiting, get a job by Dec/Jan. Also work toward 2nd stream of income
Alternatively, f*** around and travel for a bit (haven't taken a vacation in 1.5 years), then begin recruiting + 2nd income
If you haven't had a vacation in 2 years, take at least 2 weeks and do a cheap vacation. Whatever you view as cheap and your style.
Could be thailand, could be south america, could be USA, could be canada, Could be japan, could be africa. Doesn't matter
Just do something relaxing and fun and then get back to the search. Just don't do anything expensive so you don't feel stressed while taking a couple weeks to relax
Thanks Bull
(Logistics sales) Got put on a PIP sept 1; interviewed while crushing my numbers so I am no longer on the cutting block for the short term.
Should have a few offers coming my way over the next month or so... 10% raise at best within the same industry. I am “liked” by my team & boss but also was in the bottom of the pack.
Kind of wondering what to do for job security
As long as numbers are up you'll be fine. If you're actually liked and your numbers go up you are safe.
You stay if you are sure you're liked and numbers are fine. This allows you to build something on the side.
You leave if you don't think you can build something on the side and are 1,000,000% sure you will hit numbers at the other firm
If you do get offers, you could delay the start date till after your next commission/review/bonus and buy some time as well.
No real clear cut answer in that situation if numbers went up and off PIP
How to interpret the picture that attracts your attention. I didn't get the second part, should we post it to BTB in insta for BTB analysis? Didn't get that part, if someone got it please help
Hey BTB .. What's your opinion on top cities to transplant to in the US if you're trying to build? I work remotely in tech (finance @ SaaS) and am working on getting the WiFi income going. 30 yrs old, single, pretty free to go wherever.
BTB - a rare question for you:
I’m a well liked tradfi fund lawyer working easy hours and getting promoted 31 Dec - will then be on ~280k US. Am interviewing for crypto start-up GC roles that pay $350k+. One I’m going for is even paying $500k + equity. I’m not challenged in my job and love crypto (been doing anon-law Twitter work for 2+ years). Minimum comp rise I’ll move for is 25% and only to startups with significant cash runway (3+ years).
Am I insane to be doing this right now? GF and parents think so but I’ll enjoy my work way more and also make more money, provided the start-up doesn’t explode…
[Also have a WiFi biz that ticks along and brings in about $10k pa but getting tedious after 2 years of work]
Thank you!
How did you discover the museum bit? Was it by accident or did you have a premonition of sorts while out and about one day in a museum?
Was fired from (employed for 2 years) credit card processing sales job on Tuesday for poor job performance with no warning, or being put on pip.
How to handle this when it comes to applying for other sales jobs?
Or I'm fucked
you're not fucked. try not to take the firing personally, take a little time and you'll be fine as long as you forge ahead.
Started a new job this year. 3 more months before I’m off probation (long probation). I’m a medium performer, was coasting to start my side business. Just found out wife is pregnant. Am I safe from being fired if I subtly mention to my manager that my wife is pregnant and I want to take some paternity leave, cause of the potential lawsuit for discrimination on the pregnancy if I get fired over the next year? Or am I painting a target on my back, especially since I’m on probation? My industry is insurance, which is supposed to be counter cyclical which gives me hope of not being laid off. No layoffs yet, but my company last week announced that they’ve scrapped the special committee created in 2021 to acquire and retain talent, because they had so many employees job hopping to other companies, which makes me think they’re no longer worried about hiring more people.
You've only been there for a few months, you have to work as hard as you can and juggle both. That's just how it is. After you establish yourself at the firm you can move around and take more risk
Q4/Q1 is not the time to "ask for favors"
Thanks BTB. A good reminder that I should be working harder. Kicked it up over the last week, but definitely not even close to 100% capacity yet.
Outlier question: I'm a top performer, but I'm paid literally 10x to 20x of the bottom performers in my group (crypto dev). Leadership is experiencing pains and wants to cut. Am I next being paid so much more? Do I need to step it up even though the junior devs are absolute trash? I honestly don't know.
This depends on the situation. If you're being paid 10x it doesn't matter if what you're delivering is better than all the junior devs combined.
Do the math on if you are profitable or not. That's the answer
How would you go about running the math on this? I can see how to do it if it were a sales type position where you're directly involved with selling and generating revenue, but what if it was something like a software developer?
Take a look at what percent of the work is yours compare that to the other people. Then calculate out how much is being paid to who
More of an art than a science as usual, just figure out how reliant the firm is on you