VPs: internal promotion or external hire?

[Anonymous]

Those of you who can remember their first time being a VP, all else being equal, would you recommend being promoted from within or joining another company externally as a promotion? What made the transition and the job easier?

[Anonymous]

I am not a VP ( yet) so can’t offer specifics for that role but I have been internally promoted for leadership roles. I would say it depends on how good your team is and what the environment is like.

I was very lucky because my peers where not interested in going for the promotion I had, they where either part timers with more important things taking their attention or where just not interested in the job. They also thought beforehand that I would be good in the role so had that good will from them. A more toxic environment would have been a very different story, then I would move companies or departments for a clean slate.

[Anonymous]

Much easier elsewhere.

[Anonymous]

In this exact position now. I’m trying both to see which happens first. I suspect I will have to leave, but there is a possibility of internal happening in next six months. Given the historic lack of promotions and mediocre leadership I am choosing to look actively outside while I wait. If I get an offer, I suspect they will counter, but I’ll definitely have no interest at that point. If I get the internal first, I will stick around a bit longer.

[Anonymous]

I’m the pp and should say that I have been promoted multiple times internally. But I’ve been here 15 years and may have maxed out.

[Anonymous]

First VP role was as an external hire. The company needed my expertise as lawyer.

[Anonymous]

Anonymous wrote:Much easier elsewhere.

Can you talk a little bit more?

[Anonymous]

Anonymous wrote:

Anonymous wrote:Much easier elsewhere.

Can you talk a little bit more?

PP is saying that it's easier to land a VP slot through moving companies than it is to get promoted into a VP slot. This is why you should never put all your eggs into your current employment basket. Develop your own brand outside your company. Public speaking, publishing (LinkedIn postings count), networking at conferences, etc...

"No one is obligated to be grateful; telling a superior that he should be grateful to you or that he owes you something suggests you’re a burden he should get rid of." - 48 Laws of Power

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Much easier elsewhere.

Can you talk a little bit more?

PP is saying that it's easier to land a VP slot through moving companies than it is to get promoted into a VP slot. This is why you should never put all your eggs into your current employment basket. Develop your own brand outside your company. Public speaking, publishing (LinkedIn postings count), networking at conferences, etc...

"No one is obligated to be grateful; telling a superior that he should be grateful to you or that he owes you something suggests you’re a burden he should get rid of." - 48 Laws of Power

Very true about developing your own brand outside your company.

Also even if you are currently a vp or you think you have a clear path there in your company (eg, you’re a successor), you should still realize that something like a CEO change (a lot of times they’ll being in their own people) or acquisition can change everything.

[Anonymous]

Is there a common understanding of what a “VP” is? I was under the impression that vp can range from bullshit nothing position at crap local company to heading a division at Apple.

Ie, the title tells you nothing.

[Anonymous]

Anonymous wrote:Is there a common understanding of what a “VP” is? I was under the impression that vp can range from bullshit nothing position at crap local company to heading a division at Apple.

Ie, the title tells you nothing.

VP at a Fortune 500, big deal.

VP at a small or medium-sized company, not so big of a deal. VP at small company = Director at medium-sized company. VP at medium sized company = Director at big company.

However, in the Finance industry, these titles are flipped. Director is higher than VP, and Senior Director is a big deal, while Managing Director is a very big deal.

In non-profits, VP titles are often given to those who need to raise money. Rich people won't talk to someone without the right title.

[Anonymous]

Anonymous wrote:Those of you who can remember their first time being a VP, all else being equal, would you recommend being promoted from within or joining another company externally as a promotion? What made the transition and the job easier?

In order of best to worst

1. External if the firm/org/team you are coming firm is higher profile/more successful/better culture than new firm/org

2. Promoted within

3. External from firm/team/org not as good as the new firm

[Anonymous]

When moving to a new company you have the opportunity to be perceived differently. It can be hard with an internal promotion for others to adjust from you being at a new level versus at the new company you come in at that level and no one has preconceived ideas about you that need to be overcome.

[Anonymous]

Thank you so much. These advice are gold. Im a senior director at a fortune 500. Im not gonna land in the C suite but I want to make a play for VP and build something for my swansong. Thanks so much.

[Anonymous]

Anonymous wrote:Thank you so much. These advice are gold. Im a senior director at a fortune 500. Im not gonna land in the C suite but I want to make a play for VP and build something for my swansong. Thanks so much.

C-Suite at a Fortune 500 is extraordinarily difficult and it's highly-dependent on who you know (i.e. investment funds holding large quantities of stock, members of the board, etc...). VP of a division is a more reasonable goal if you want to stay in a Fortune 500. If your dream is the C-suite, then you will need to leave and join the C-suite of a medium-sized company, get some experience and then make a play for the C-suite of a large company (but not yet Fortune 500). This stepping stone approach will bring you into contact with the aforementioned individuals.