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4 ways you might be unintentionally abusing your work perks

20 December 2024 at 00:45
Portrait image of Sarah-Jayne Martin

Courtesy of Quadient

  • In October, Meta fired around two dozen employees found to be misusing a Grubhub meal perk.
  • An employee perk management expert shares four ways employees may not realize they're abusing perks.
  • She says that abusing perks could come at a cost for the company and negatively impact employees.

This as-told-to essay is based on a conversation with Sarah-Jayne Martin, a Chicago-based expert in financial operations and employee perk management at Quadient. The firm provides companies with financial automation software, including payments- and expense-related tools. The following has been edited for length and clarity.

Many companies offer perks to their employees to improve their working environment or build morale, often offered on the honor system. Instead of putting hard-line policies in place, many companies hope that people will be reasonable with perk usage.

But there's a gray area around what's considered "abuse," which happens when the perks aren't being used for their intended purposes.

Many times, employees don't necessarily feel like they're doing anything wrong. If they were manipulating their expense report, they'd know that that's wrong — but grabbing a six-pack of Coke to bring home to a party they're hosting that night might not feel that bad.

In the case of Meta, the intended purpose of offering GrubHub credits to employees is so that those who are remote or working late can eat. Where I think it crossed the line into taking advantage of the perk was when employees pooled their credits and purchased things besides food.

The abuse of perks is the kind of thing where if one person's doing it, maybe it's not that big of a deal — but if it becomes the culture, it really can negatively impact the company and employees in multiple ways.

Here are 4 ways employees may not realize they could be seen as abusing perks

1. Food

I've seen cases where people in charge of ordering food for a monthly team lunch order an extra pizza so that they can take it home for their family. It doesn't seem like that big of a misuse, but they're definitely intentionally buying something with the company resources that they plan to use not for its intended purpose.

That can also happen with office snacks. Especially in the tech world, a lot of offices have snack bars and fridges where you can just help yourself to whatever's in there. The intended purpose is for people who are in-office to be able to grab a drink or a snack as needed throughout the day.

But then there are cases of people who pack up a cooler and take a bunch of those things home. Maybe they feel like it's there for them to take, but they're taking advantage of that situation.

Grabbing something to eat on your way home is, in my opinion, totally fine. But if you're taking a whole case of trail mix home with you, that's clearly not what it was intended for.

2. Parking

If you're working in a downtown office in a big city like New York, Chicago, or San Francisco, one of the company perks that some companies provide to come into the office is to provide parking passes or discounted parking so you can drive to the office. An abuse of that might be giving your parking pass to someone who's visiting from out of town, or taking a parking pass that's meant for on-site clients to use and using that for your own personal use.

3. Travel

A lot of organizations have negotiated contracts with travel companies that provide employees with a code for discounted pricing on hotels, flights, or car rentals. While it may be considered OK for an employee to use it to book personal travel, sharing that code with people outside the organization isn't using it for its intended purpose.

4. Gym memberships

Some companies might offer gym memberships in the office building because they want employees to be able to exercise, be healthy, and have a break from their work. In that case, it wouldn't be appropriate for an employee to give their gym pass to their spouse to come in and use the gym.

It's the company's responsibility to draw the line between OK and abuse

I think the organization ultimately has the responsibility for drawing the boundaries of what's OK and what's a fireable offense.

That can be something as simple as, when rolling out a perk, saying something like, "The snack bar is here for employees who are in the office for meal times or for snacks. Be reasonable with what you take; taking large amounts of those supplies home isn't condoned."

If it's not clearly stated, employees may not feel like what they're doing is off-limits.

My advice for employees is to think about the intended purpose of the perks they're offered: Why am I being given this perk? And are my actions in line with that intention? Thinking from that perspective will probably make you realize when you're nearing an abuse of a perk.

Why misusing perks matters

Abusing perks could damage the relationships that the organization has created with other vendors.

In the example of gym memberships, the organization has probably negotiated discounted rates for company employees. If that gets abused and the gym finds out, it may retract the deal or the relationship between the company and the gym owner would sour. All of the people who've been using it appropriately could be impacted.

Misuse of resources also becomes a cost for the company. For example, if you're abusing the snack bar or using the photocopier to print your wedding invitations, it's a larger cost that the company has to bear.

It probably won't be so catastrophic that it impacts things like bonuses, but if enough people are abusing resources, it could put the financial stability of the company at risk — and impact whether the company is willing to spend money on perks in the future.

If you were reprimanded for abusing company perks and would like to share your story, email Jane Zhang at [email protected].

Read the original article on Business Insider

How to know when it's the right time to leave your job, according to a 20-year HR vet

19 December 2024 at 02:03
A woman sitting with a laptop in her lap, staring at floating clocks.
Jamie Jackson said that burnout could be one of four major signs that it's time to leave your job.

Anthony Harvie/Getty Images

  • Jamie Jackson worked in HR for over 20 years and is now a podcaster and consultant.
  • Jackson said when you're no longer engaged or growing at work, it could be time for a new role.
  • Updating skills and preparing a job search toolkit can aid in career transitions.

This as-told-to essay is based on a conversation with Jamie Jackson, a 43-year-old podcaster and consultant in Nashville. It has been edited for length and clarity.

As someone who has worked in HR for over 20 years, I've had this conversation countless times. People often confide in me, saying, "Jamie, I don't know what to do next."

They feel stuck in their roles, want to advance, or are considering a new job — but that can be just as scary because it means stepping outside their comfort zones. I've been there, too, wondering whether it's time to quit my job for something new.

If this is you, here are four key signs you've been in your role too long and what you can do next if you need to make a change.

1. You no longer feel motivated

Your engagement level is a good indicator of whether you've been in your role for too long.

For example, you may have previously felt engaged in meetings but now find it harder to do so because you no longer feel motivated.

Or, perhaps you once enjoyed conversations with coworkers at the watercooler or over coffee — asking about their weekends or holiday plans — but now you simply do what you need to do and move on.

2. There's no room for growth

Another sign is feeling stagnant in your growth.

For example, I once worked at a company for five years and kept being promised a promotion. Over time, it became clear it wasn't going to happen — they didn't see me moving up.

For a long time, I believed their promise was coming, but it never did. To advance, I realized I'd need to change companies because the growth I wanted wasn't going to happen there.

Sometimes, there simply isn't room for growth, and when that's the case, it's a clear sign that it's time to make your next move.

3. Your feedback has plateaued

Or, you might find yourself hitting a feedback plateau.

For instance, you may consistently receive the same performance reviews, with your manager saying that you're meeting expectations but not exceeding them — suggesting you've reached a stopping point.

If you're thinking to yourself, "I don't have anything else to offer. I'm doing the same job I was doing three years ago without additional constructive feedback or recognition," it might be time to switch roles.

4. You're burned out

Another sign is burnout. In the past, I had a job where I felt physically sick going into work.

I remember one time needing to pull over to the side of the road to puke because I was so stressed.

As I sat in a parking lot trying to compose myself, I thought, I have to find another job. I knew my mental health was more important — but as I didn't have the luxury of quitting on the spot, I found another job first.

For others, there are times when environments are insanely toxic, and they need to get out immediately — and they should, but when possible, it's important to have a plan in place.

Either way, burnout or feeling physically sick from work might be a sign that it's time for a change.

If you realize you're no longer happy in your role, you need to do some self-reflection

Ask yourself, what are my goals? Where do I want to be? In your mind, try to understand where you want to be in six months, a year, or even further into the future.

Do you need a new title or a promotion, and if so, how do you get there? Before doing anything, it's really important to understand what you want. Then it's time to take aligned action.

Brush up on your skills

Maybe you're perfectly content with your current role; you just need to be challenged more. By learning new skills, you can push for more responsibilities.

You can use resources like LinkedIn or YouTube to brush up on skills like Excel or explore additional training or certifications offered by your current company. New skills can help you stand out in your current role or make you more appealing to potential employers.

Get your tool kit ready

If you're looking to land a new job, you need to learn new skills and prepare your toolkit.

This includes updating your résumé, refreshing your LinkedIn profile, and researching the salary you should be making.

When you start looking for a new job, knowing your market value is key — especially if you've been in your current role for a while and aren't sure what the going rate is. From there, talk to your mentors, colleagues, and friends, and let them know you're looking for something new.

You might say something like, "Hey, I think by March, I'm really going to start looking for another job — so can you keep your eyes and ears open?"

That can really help.

December isn't the easiest month to get a new job, with the holidays and people taking time off. However, January can be a better time as companies enter the new fiscal year — new budgets and new positions are being rolled out. But you can always be passively looking.

Some of us are content where we're at, but if you're no longer interested in stepping up or taking on new challenges, it might be time to reassess your role.

If you're an HR professional with unique career advice you would like to share, please email Manseen Logan at [email protected].

Read the original article on Business Insider

I spent over $10K on a business coach who told me I was 'messy' and made me doubt myself. Here's my advice if you're considering coaching.

11 December 2024 at 01:42
Alejandra Rojas
Alejandra Rojas is a trauma-informed finance professional and a money mindset mentor.

Courtesy of Alejandra Rojas

  • Alejandra Rojas started building her business as a finance mentor on social media as a side hustle.
  • Rojas found a online business coach via their free workshop, then hired them for personal sessions.
  • She said the coaching wasn't the right fit and made her doubt herself as an entrepreneur.

Seven years ago, I overcame a five-figure credit card debt. I got into debt through mindless spending during my early career as a finance professional in Washington, DC. It took me seven months of cutting expenses and tracking every dollar to pay off my debt.

As a finance officer, it wasn't easy to open up about my money mistakes, but I started sharing my story with people in my circle. Encouraged by their positive responses, I posted about it on social media and built a following.

I realized there was a need for better financial education, especially for women. I wanted to use my expertise to help others and build a flexible business but didn't know where to start.

I first encountered online business coaches through blogs and podcasts for digital entrepreneurs. I found a coach who positioned themself as an expert in building profitable businesses.

This coach offered a free three-day online workshop on how to create a compelling brand story. The workshop featured many of their affiliates — people I was familiar with from my research — and past students. After the event, the coach pitched a paid course on building your business around a strong brand message.

I found the free workshop very helpful and thought their course would help me clarify my story and sign clients. The initial course cost around $1,000.

By the end of the course, I still didn't feel confident about starting a business. The coach pitched one-on-one coaching program, a five-figure investment. I hesitated but thought this was the push I needed to succeed.

What the coaching promised vs. what it delivered

I had just finished paying off my credit card debt and was working full-time as a finance officer while building my business on the side. I didn't have savings to pay for coaching, so I used a combination of my credit card and monthly cash flow.

I researched other coaches, but I didn't want another general course. I'd already invested in this coach's course, so it like a logical next step.

The coaching program was an hourlong 1:1 session once a week over seven weeks. The program would help me refine my story, create a business strategy, and start generating revenue.

However, the sessions felt unstructured. Each week, I would discuss my progress and ask for guidance, but there was no overarching plan. The focus was on reviewing if I'd completed what we discussed in the previous session. Often, my coach would repeat similar concepts rather than introduce new strategies.

The investment was not worth it to me

During the third session, I expressed my frustration with not progressing and feeling overwhelmed. In between meetings, I mentioned that some of the advice, like sharing personal stories that didn't feel connected to my business, felt irrelevant.

That day, I told the coach outright that I preferred to spend time talking to people about their struggles instead of sharing my own stories.

To my surprise, the coach responded, "Maybe it's not working because you're too messy."

Part of this comment stemmed from my choice to skip some of the resources they had provided, like a sales tracking spreadsheet and a guide on how to win sales calls (because I wasn't making those calls yet).

It was also partly about me wanting to move ahead with multiple areas of my business instead of focusing on one thing.

The comment hit hard. I'd always been OK with juggling multiple projects, but for months after that session, I doubted myself. I believed that my "messiness" was holding me back.

Per the agreement, I couldn't cancel or request a refund, so I had to keep paying for the coaching program even though I was no longer invested.

I stopped working on my business for a while and focused instead on my 9-to-5. By the time the final payment went through, I felt frustrated I had spent so much money and relieved that I didn't have to revisit the tools and resources again.

After finishing my coaching sessions, I ditched the spreadsheets and went back to experimenting.

I followed my instincts and launched my business, The Brown Way to Money. Now, I run a platform that offers money management, financial literacy support and financial education dedicated to women entrepreneurs.

About a year ago, when I became pregnant I had to delegate tasks to what is now my team. I realized that my "messy" approach was actually my strength. People commented on how surprising it was that I could juggle so much.

What I wish I had considered before investing

I don't see my first coaching experience as a complete failure. It taught me that I am ultimately responsible for every business decision.

I've worked with coaches who have significantly contributed to my growth as an entrepreneur, but it took years before I felt ready to invest again.

By that point, I had a better understanding of my goals and what stage I was at with my business. This made it easier to hire a coach to help me build specific skills I couldn't develop alone.

Here's what I wish I had considered earlier:

  1. Clearly defining my goals and desired outcomes: I now take the time to outline what I want to achieve with a coach. I discuss my goals with the potential coach beforehand to ensure we're aligned and have a clear path to reaching those outcomes.
  2. Researching the coach's expertise and relevance: Now, I look into their social media, reviews and, when possible, speak with past clients to understand their approach. Their expertise needs to align specifically with the stage of my business and my goals.
  3. Adopting a return-on-investment mindset: Instead of assuming the coaching experience will "work" on its own, I focus on how I can capitalize on the skills and knowledge I'll gain. I evaluate whether the potential ROI is clear and sufficient before committing.
Read the original article on Business Insider

Life after Google: 8 laid-off employees reflect on being let go, what they did next, and their advice for others

9 December 2024 at 01:01
Aaron Neyer, Sylvia Duran, and Camila Ferraz's headshots superimposed on a blue background with the word "Google" in the background
Business Insider spoke with eight former Google employees who were laid off in 2023 and 2024 about their journeys post-Google.

Aaron Neyer; Sylvia Duran; Camila Ferraz; Jenny Chang-Rodriguez/BI

After you're laid off, what comes next? For many tech workers, there's no easy answer. Following historic mass layoffs in 2023 and 2024, tech hiring has slowed and the job market looks increasingly bleak. Laid-off employees face an uncertain future.

For a road map on how to move on post-layoff, we spoke to former employees at Google, which cut 6% of its workforce nearly two years ago and has continued making cuts in 2024. Eight ex-Googlers impacted by those layoffs — including one who has since returned to the company — shared what it was like to lose what some considered their "dream job," how they found their footing in the aftermath, and their advice for others facing similar circumstances.

Many of the employees Business Insider spoke with said they were caught off guard by their layoff or that they expected only low performers to be impacted. Google said it provided impacted employees with outplacement support and invited them to apply for open roles across the company. Some interviewees told BI they found few openings.

Since their layoffs, these former Googlers' paths have varied. One ran for city council; another took a job at Trader Joe's. Some landed jobs at other Big Tech companies, and others launched their own ventures. While many reflected fondly on their time at Google and felt their layoff was a blessing in disguise, others expressed frustration toward Google's leadership.

Here are their stories, in their own words. Their quotes have been edited for length and clarity.

Jonea Gordon, 36, Philadelphia

Jonea Gordon smiles at the camera while wearing a pink and white patterned top

Jonea Gordon

Gordon is a lawyer by trade who worked at Meta prior to joining Google as a privacy program manager eight months before the 2023 layoffs.

I was at a coffee shop with my husband when a news alert popped up on his phone saying that Google was laying off 12,000 people that day. We'd both survived layoffs before — my husband works at Amazon and I'd been at Facebook prior to Google — so layoff news generally didn't startle us; we were used to it. I'm sure it's not me, I thought. But then I tried to log into my computer, and my password was rejected.

I very quickly recognized the silver lining of the opportunity. I had six months' severance. I'd never taken a break before — I'd been working like crazy since graduating from law school in 2012. I rested and spent more time with my kids. We took a family vacation. I started doing Pilates and got back into therapy. I used the time as a true sabbatical to reenergize myself for the next phase of my career.

After three months, I started applying for jobs. I turned down an offer from a consulting firm because that world didn't feel like the right fit for me. Some big law firms approached me, and I took a contract role at a firm while continuing my job search. I started a new role in data privacy at Cruise, a self-driving car company, the same week my Google severance ended, but a few months later I was laid off again.

I dove right back into the job search and have been at Amazon since December. So far, everything is good. People are very nice and welcoming here, and I love my team. I'm eight months pregnant and plan to take maternity leave, but I'll be back to work after that. I also launched a coaching business recently and will be producing a new podcast next year.

I have peace around how everything ended up. My advice to people is that if you are going into tech right now, you can't be someone who takes yourself extremely seriously. I have a huge sense of humor, and that gets me through a lot of things. Because my husband and I both work in tech, people assume that we must live large, but we don't. We share a Toyota and live with the knowledge that we are very fortunate to be in jobs we love, but it could all be gone tomorrow.

Lois (Kyongsook) Kim, 55, Seoul

Lois Kim smiles in a yellow sweater in front of a room with colorful balloons and floral designs

Lois Kim

Kim led Google's communications team in Korea for 12 years before moving to its Mountain View headquarters in 2019 to establish its international media team. She was the director of global communications prior to her 2023 layoff.

As a longtime Googler who'd been with the company through the financial crisis of 2007 and 2008, I felt like I was safe. At first, I thought the layoff email I received was a scam. As reality began to set in, I got really angry; I'd been so loyal to Google. I loved working there and felt so proud to be there. I went through the five stages of grief and wondered, Why me? I got depressed. I'd look at my empty calendar and feel rejected, like nobody wanted me.

I began to see how I could use my severance package as an opportunity. I decided to do a "gap year" and wrote out a list of things I'd always wanted to do: work at Trader Joe's, be a barista, work at In-N-Out Burger, drive for Lyft or Uber, pet sit, work as a bartender. It made me feel really rejuvenated.

That first weekend, I applied to Trader Joe's. But on my first day, I had trouble walking in the door. I'd been the director at a big company, was a two-time published author, and had been featured on a top Korean talk show; I thought people would look down on me because of the Asian cultural concept of "saving face." It was an internal barrier I had to break through, and I did. By May, I was working three jobs at the same time for up to 70 hours a week — Trader Joe's, Starbucks, and Lyft whenever I had time — plus pet-sitting on an ad hoc basis.

I decided to write a book about my experience to motivate other people in the same situation as me. Being laid off is painful — even more so in Korean culture because people don't talk about it. I wanted to be an example and say, "It's not your fault, and you can make full use of your time and then move on."

After 18 months, I ended up moving back to Korea to be the chief brand officer at Hanmi Group, a pharmaceutical company. Things have changed a lot in the five years I was away, but I'm using my experience from 30 years in international companies and learning a lot from local companies. I've also found my customer support and marketing experience at Trader Joe's and Starbucks to be helpful. I hope to retire in the US. Trader Joe's has a really good internal transfer system, so I'd love to work for two years in San Francisco, then in Idaho, then in Florida, and so on, so that I can explore the States while making money.

I miss a lot about Google, but more about the early days when it felt like a family. The company grew and grew, and we had to lose some parts and focus on efficiency.

I did a good job of quickly processing and moving on after my layoff. In hindsight, I wonder why I didn't take a break to travel, but I know I would've been too worried to enjoy it. If I were to share advice with friends going through the same thing, I'd tell them not to feel too anxious, especially about things they can't control. Maybe the future is already ready, even though you don't know it.

Anonymous Google employee

A senior software engineer who was laid off in January 2024 secured another job at Google a few weeks later. They asked to be kept anonymous to protect their job security.

I was really happy at Google. For the most part, I think it strikes the right balance between productivity and work-life balance. I had to take medical leave for depression at another fast-paced Big Tech job I'd worked; at another job, things felt like they moved at a glacial pace. At Google, I didn't feel overwhelmed, yet also felt like I was delivering. It was definitely my favorite place I've worked.

Because of my history of depression, I was afraid that I'd go to suicidality if I was laid off, so I worked with my counselor to set up a well-defined game plan. When the layoff actually happened, it felt horrible — my worst fear coming true. If I were early in my career or if my child and wife didn't depend on me as the breadwinner, I probably would've thought, Nice! Good vacation and generous severance. But I was super anxious about what might happen if I didn't find a comparable job in the next four or five months before our cost of living exceeded the severance.

I had my résumé already prepped and a contact list of people to reach out to immediately, and I went into cortisol-fueled search mode. I reached out to a lot of connections for referrals and applied everywhere, both internally and externally. I checked the Google internal job posting site every day, but there weren't many open positions. I also applied to every relevant LinkedIn EasyApply position. I spent the rest of my time practicing LeetCode problems and reviewing past projects.

A few weeks later I got a response from one of my Google applications and set up a video call. A couple of days later, the manager told me they wanted to bring me on. My biggest priority was securing a job so I accepted, despite having advanced in the interview process at some other companies. The Google role also had some advantages, like maintaining my competitive compensation and giving me an opportunity to develop relevant skills and future-proof my qualifications.

Returning to Google, I feel more anxious and find it harder to focus. Before the layoffs, I had a sense of security, like I was in a really good industry that paid well and had lots of mobility. Now, I have this ever-present fear that the industry will shrink and become too competitive, or companies will choose to take efficiency gains from AI to cut costs. And I've lost trust in Google's leadership. The real responsibility for layoffs lies with upper middle management up to leadership, and I feel there's been essentially no accountability.

Still, I think coming back to Google was the best risk-averse decision. My plan worked well, and I think I went about things the best I could.

Sylvia Duran, 40, San Diego

Sylvia Duran Chen headshot.

Courtesy of Sylvia Duran Chen

Duran worked at Google for almost nine years in various roles, including as the first chief of staff to the VP of operations. She also headed YouTube Mexico during the pandemic. Prior to the 2023 layoff, she was the head of strategy and operations for YouTube's Latin American and Canadian markets.

The night before the layoff, I missed dinner with my family to take a strategy call with the creator marketing team based in Singapore. The next morning, I tried to check my work calendar before breakfast and it wouldn't load. People had been nervous about layoffs but thought low performers would be the only ones impacted. That's not what happened.

Once I realized my role had been eliminated, I started bawling. I'd given everything to the company, like so many of us, and it wasn't a possibility in my head that I would be laid off.

I gave myself the weekend to grieve. One of my best friends visited from Seattle to support me. Three days later, I started a podcast, an idea I'd been playing with for a while. I put my head down and worked on it as if it was a full-time job; I loved it. It was therapeutic. I talked a lot with guests about childhood circumstances and how they influence our careers and decision-making. I came from a working-class background, and after getting an Ivy League education, I saw how easy it was to get sucked into thinking, I can't take this other kind of job because what is it going to say about me? I was fortunate that I had enough severance that it took me pretty much through the end of the year.

I became more active on LinkedIn and told people I was looking for a job; before, I'd been a very private person who didn't like asking for help. A friend of a friend, despite not really knowing me, helped pass my résumé on to different leaders at Intuit. I had an informational call with one, and when an opportunity arose within his team, I was able to land the job. I've been really happy here — my manager is really supportive, and we're working on tough, interesting problems.

After working at Google for so long and seeing how it ended, I've been thinking about how I spend my time. Even though I love my job now, I haven't let it interfere with my other priorities, like carving out dedicated time for my two kids. I'm also still regularly publishing podcast episodes, and I recently joined a nonprofit board.

There were a couple of times when I considered leaving Google but didn't because of fear. My advice for people is to not make career decisions from a place of fear. Stay somewhere because you're passionate, not because you're afraid to try something else.

I don't regret that night before I was laid off when I missed dinner with my family to work; I was excited about the project and was trying to be mindful of people in other time zones. But now I know that my layoff decision had already been made at that point, and the company was comfortable having me work really late the night before they were going to lay me off. My advice to people is to make sure that when you're making these trade-offs, you're doing it with clear eyes.

Aaron Gabriel Neyer, 32, Boulder, Colorado

Aaron Neyer smiles in front of a coastline

Aaron Neyer

Neyer interned at Google during college and returned seven years later as a developer relations engineer, before being laid off in January 2023.

When I found out I was laid off, I felt almost a relief and a sense of openness. I suddenly had this blessing of a healthy severance to use to build what I wanted outside of Google.

I intermittently job-searched for a few months and almost joined an early-stage startup, but nothing quite landed. I also traveled a bit around the US, did a lot of reading and writing, and participated in a lot of community engagement. I have a thriving community here in Boulder and enjoy being in nature. I also became the executive director of a nonprofit I joined in 2022 called Consciousness Hacking Colorado — now relaunched as Woven Web — focused on facilitating harmony between technology, society, consciousness, and nature.

I've begun a second master's degree, this time in creative technology and design at the University of Colorado Boulder's Atlas Institute. I also ran for Boulder City Council. I didn't win, but the city council appointed me to the Human Relations Commission which has been great. We're working on issues of how to address tensions in our community, especially in relation to the Middle East conflict, and how we can bring about better dialogue to address these tensions.

I bike past the Google office a lot here in Boulder and often feel a tenderness in my heart. For all of the company's faults, there are many things that it does well, like the beautiful community of people who work there.

I don't have too many regrets in life. There are so many pathways, but the one that I'm on feels really beautiful. I'll go back into some form of full-time work at some point, but I'm not rushing to any decisions. For now, I feel stable enough to keep prioritizing learning and creating community, putting a lot of the gifts I received at Google to good use.

Eric Wages, 46, Massachusetts

Headshot of Eric Wages, wearing a orange shirt and tan blazer
Eric Wages

Ilene Perlman Photography

Eric Wages worked at Google for 15 years in various roles and spent over a decade leading its third-largest data center campus. Before his 2023 layoff, he was the global program manager of the corporate real estate team.

I wasn't surprised by the layoff. I could see the tide turning a year in advance; people weren't working in the office, and yet we had many billions of dollars of office construction ongoing. I spent a lot of effort trying to convince leadership to pause construction, but my attempts weren't well-received.

I'd been laid off before and knew that layoffs aren't personal. Still, I went through the traditional stages of grief. I'm someone who has to live with a purpose, and my purpose evaporated when I received an impersonal layoff email that Friday morning.

I bought a whiteboard, put it behind my desk, and started trying to figure out what my purpose was now: What am I good at? Do I want to ever work for a large company again? I knew I never wanted to work with jerks again — I'm not saying I worked for many of them at Google, but there are many folks who are just a pain. I wanted the flexibility to work with people I enjoyed working with and help them solve problems — that's what I had always enjoyed as a leader.

Three months later, I started my own firm, Idealum Solutions. It's a mix of technical consulting, coaching, and understanding how people work, focused on data centers.

I'm thankful for the layoff, because I'd been in the golden handcuffs. I think I'd be miserable if I were still there today. And as much as I bemoan the golden handcuffs, they've served me well. My 15 years at Google set me up with a wonderful financial backstop, which has allowed me to be picky about how I work and what I charge.

Being an independent consultant and business owner is rewarding. When I couldn't find a contractor this summer to fix some things around the house, I was able to not actively seek new clients for a couple of months and just do it myself. It also allowes me to have a better relationship with my wife.

While I think Google could have done better with the layoff, there's no good way to lay off 12,000 people. Any manager who's had to terminate someone knows to expect the absolute worst. Multiply that by 12,000 — locking the doors and turning off the badge was, dare I say it, the best way.

But one way they could've done better was to ask for volunteers; I would've strongly considered leaving if an offer had been tendered. It was extremely frustrating to see the culture changing after being there for so long.

Shao Chun Chen, 38, Singapore

shao chun chen smiles in front of a bridge and body of water

Shao Chun Chen

Chen joined Google in 2016 as an account manager for the company's Singapore advertisers and did a three-month rotation with Google's strategy and operations team in Silicon Valley in 2019. Prior to the 2024 layoffs, he was the head of small business ad sales for the Singapore, Malaysia, Indonesia, and Pakistan markets.

My last day at Google — my dream job — was on Valentine's Day this year, the day before my 38th birthday. Logically, I knew that industry ups and downs and turnover were pretty normal. Emotionally, though, it was tough. I had been there eight years; that's like an eight-year relationship. My initial reaction was pain and anger, driven by ego. I also compared myself to those who weren't laid off, feeling like I was better or more experienced or more loyal than they were.

I had a lot of sleepless nights and went through the grieving process. My wife was extremely supportive. The toughest part was knowing that the next day, the company just moved on. That was sort of a rude awakening.

I was given two months to look for other roles internally. I panicked and applied for every job available, hanging on for dear life to the possibility of still being able to call myself a Googler — a huge part of my identity. A couple of senior Google leaders graciously reached out about joining their teams, but I knew I wouldn't enjoy the roles and didn't want to do a bad job. When I turned them down, every part of my body was shaking.

I splurged on a solo snowboarding trip to Japan and spent time alone in the mountains. I'd wake up at night crying. There had been so much going on that once I gave my body and mind a bit of peace and space, it automatically went into recovery mode, which was very therapeutic.

I posted my first YouTube video in April. I wanted to share my layoff story to bring comfort and courage to others. Many people reached out to me saying things like, "I felt the same way," and "Even my therapist couldn't articulate how I'm feeling as well as you did." It feels like my calling is to help people have a healthier relationship with their careers and money, and my YouTube channel has grown since then. I've also launched a coaching and consulting business and teach at the National University of Singapore.

While I don't earn as much as I did working full-time, I make more per hour and have much more flexibility. I also achieved financial freedom several years ago, by growing my income from $80,000 to close to $300,000 at Google, saving and investing at least half of my paycheck, and being very conscious of my spending.

I wish I'd been more supportive of people that I used to work with who were laid off before me. While Google was and still is a huge part of my identity, I learned that there are really other parts of my life that I should nurture. Looking back, I'm grateful — I wouldn't have discovered this life was possible if not for the layoff.

Camila Ferraz, 34, San Francisco/Miami/Zurich

Headshot of Camila Ferraz wearing a black shirt and smiling at the camera

Camila Ferraz

Ferraz started in sales at Google in São Paolo, Brazil, in 2011 after college, briefly left for another opportunity, and returned as an analytical lead in Google's San Francisco office. Prior to the 2023 layoffs, she was a senior product manager in Google's internal incubator, Area 120.

When I woke up that morning and saw the layoff email, I was so out of touch with reality that my first concern was that my team wouldn't be able to access a document I'd been up late working on the night before. It took a bit of time for me to realize, "Wait, I lost my job."

I jumped straight into practical things. A friend and former coworker who'd read about the layoffs told me she was hiring, so I jumped out of bed and did an interview, but I could hardly pay attention. I went back to Brazil for a week to be close to my childhood friends. For those of us in tech, it felt like the world was falling apart, but I'm from an island in the south of Brazil, and being there helped me keep that in perspective.

I ended up moving to Miami, where a lot of my friends had moved during the pandemic. Climate tech is one of my personal passions, and I took a remote consulting job with a nonprofit biodiversity lab based in Zurich for a few months.

On one of my trips to Zurich, I met my now-cofounder. Looking for a cofounder in the months prior was almost like dating — finding the right one was the most challenging part, and now that I have, it feels so right. Together, we incorporated biodiversityX, an AI-powered tech company providing real-time forest analytics, in Zurich.

Losing a job is traumatic, but it's humbling to think about how much Google transformed my life. It was such a good place to grow and develop as a leader, and I miss the culture, the food, and the people.

Before, I thought a career had to be very linear — one promotion after another; tomorrow needs to be bigger than yesterday. Today, I see things as a bit more fluid and view the layoff as a blessing in disguise. Being an entrepreneur — the degree of responsibility and the speed at which we can move — is so freeing and rewarding. The pieces are coming together, and I'm grateful to Google for being such a great school.

Read the original article on Business Insider

I launched a startup after pivoting my career in my 40s. Here's what I've learned about securing investment from big names like Uber.

8 December 2024 at 01:50
Tiya Gordon
Tiya Gordon pivoted from her career in design to launch an electric vehicle charging startup.

Deborah Feingold Photography

  • Tiya Gordon worked in design before she pivoted to cofounded It's Electric, a climate tech startup.
  • Gordon launched the company in 2022 after struggling to find an accessible EV charger in Brooklyn.
  • She shared how they raised $11 million in grants and investment from prominent investors like Uber.

This as-told-to essay is based on a transcribed conversation with Tiya Gordon, 45, the founder of electric charging startup It's Electric. The following has been edited for length and clarity.

I'm a New Yorker and a staunch believer in public transportation. For most of my life, I never owned a car.

During the COVID-19 pandemic, all the forms of public transportation I used daily were unsafe.

I had to think about how I could transport my then-five-year-old and how I would reach family members if something terrible happened.

I considered getting a car for the first time. I made this list: It was written in Sharpie on a piece of grid paper, and it said, "New?" "Used?" "EV???" However, I had to immediately eliminate electric vehicles from my potential options because, in 2020, there was no accessible place to charge them in Brooklyn.

I realized there was a lack of infrastructure to transition to EV cars and that was the seed idea for my company.

Although my career was in design, I pivoted and cofounded a climate tech startup called It's Electric in 2022. We're focused on scaling electric vehicle charging in densely populated cities.

We're now a company of 10 people and we've received $11.8 million in funding and grants. Uber invested in our seed round. My best advice is to find simple solutions to big pain points and prove your work with receipts.

We found a simple solution for electric charging

When we started building It's Electric in 2021, my cofounder and I conducted research to determine what was preventing EV chargers from being deployed quickly and at scale in US cities.

In a city like London, there are a lot of lampposts that have been retrofitted into curbside chargers because they can handle 220 to 240 volts of electricity. In the US, the power feeds in our lamposts are typically much lower, at 110 volts.

If we wanted to have lamppost chargers, we'd need to upgrade the utility main and corresponding interconnection agreement, load analysis, transformer, submeter, and customer connection box.

We discovered that one asset in cities, that has plenty of power ready to go, is buildings, which we can use to power public chargers.

If a library, home, or commercial building agrees to power a public charger, we share revenue with that building to give them passive income as an incentive. It's a very simple idea. We say it's not deep tech, it's shallow tech.

Running a pilot helped get investors on board

Our business started with just us two founders, but after we raised a $2.2 million pre-seed round in May 2023, we hired our first two employees.

During our pre-seed stage, multiple investors told me that our idea was so simple that it must not work, or surely someone else was already doing it. We had to prove that a simple solution could be effective.

One way we did that was by getting our pilot off the ground in 2023.

We secured our partnership with Hyundai after winning their EV Open Innovation Challenge. Winners were selected based on their potential to expand market access to electric vehicles.

We knew we needed to test in the real world and in a notoriously hard-to-open city. So we approached the New York City Economic Development Corporation to ask if we could pilot our technology on their buildings in the Brooklyn Army Terminal. After much work, this became our first pilot and was crucial to landing investment.

Our work on this pilot was so successful that EDC launched a brand new program based on our pilot.

Have receipts and discuss your wins

Our pilot demonstrated that our solution offsets emissions, and we could collect data from the demo to show it was scalable, low-cost, and quick to install.

The pilot meant I could provide investors with proven results. We'd gone beyond what investors expected of us, which placated their queries and also attracted investors we hadn't yet spoken to.

Having a small-scale demonstration of your solution is more helpful in pitching to a large corporation than trying to sell a concept. It meant we were able to demonstrate a Series A level of progress at a pre-seed level.

So many investors said, "If it is so simple and such a good idea, then why aren't others already doing it?" My answer was, "Because no one else is doing it, we are the first." My advice to founders is to be tenacious but make sure you have the receipts.

We talked about our wins, such as prize nominations and media acknowledgments, to show investors that, by the jury of peers, our solution is winning.

Uber invested in our seed round

In July 2024, we closed our $6.5 million seed round, which was co-led by a Nordic fund, Failup Ventures, and Uber. Now, we're a team of 10.

Our involvement with Uber began when we met representatives from the company at a conference. Everyone thinks of companies like Uber as big corporate giants, but we started our partnership with them by chance. It wasn't a sales or business meeting; it was just two optimistic people working in transportation who had a great conversation.

A big challenge to Uber's zero-emissions goal is that Uber drivers live in cities and don't have garages, so it's really hard to charge electric vehicles. We provided a cheap, fast solution for urban drivers to charge electric cars. Uber needed more drivers to adopt electric cars to reach its goals, and we pitched ourselves as that stepping stone. A series of productive conversations helped us build this partnership.

Having Uber support our solution has been a great validation for our startup. It's also meant we've had access to smart people on their team to understand different policies and how we can help meet city goals.

My advice for founders who want to develop relationships with established companies is to try to solve problems for other people. Don't say you want a partnership because of what it can do for your startup, but put yourself out there as the problem-solver for a larger corporation. You want to find their pain point and point out that there isn't a solution that's already in the market.

Read the original article on Business Insider

When I was laid off from Google, I felt a sense of relief. I've lived a full life ever since.

7 December 2024 at 01:35
Aaron Neyer smiles in front of a coastline

Aaron Neyer

  • Aaron Neyer joined Google in 2021 as an engineer after several years of self-discovery and nomadic living.
  • In January 2023, he was one of over 12,000 employees laid off. He felt a sense of relief and openness.
  • Neyer now leads a nonprofit, is involved with local government, and is pursuing a second master's degree.

This as-told-to essay is based on a conversation with Aaron Neyer, executive director of the nonprofit Woven Web and a former developer relations engineer at Google based in Boulder, Colorado. The following has been edited for length and clarity.

I studied computer science in college and interned at Google after my junior year. I received a full-time return offer, but I wanted to travel and felt like going the startup route would give me a lot more flexibility.

My dad passed away around the time I graduated. I moved to San Francisco for a job, but a couple of months later, I realized I didn't want to confine myself full-time and quit.

I spent the next four years being basically nomadic — doing the free-spirited hippie thing. During that time, I lived off savings from my time working in tech, life insurance that I received when my dad passed, and a few wise crypto investments that I made.

I attended a lot of different gatherings such as music festivals, dance retreats, and meditation retreats, connecting with all kinds of people. It was a period of self-discovery as well as a time of finding healing around the grief from losing both of my parents, as my mom had died when I was younger.

I wanted to participate in the world more effectively

After a while, I decided I wanted to go back to participating in the world in a way that I felt to be more effective. I got a master's degree from Naropa University in ecopsychology to ground my philosophy around how change can happen and how we can create more connection in the world.

I missed the intellectual rigor, creativity, and financial stability of the tech world, so I applied to rejoin Google and started working there in May 2021 as a developer relations engineer. My work was 60% about coding and 40% about community relationships.

At Google, we were all able to use our "20% time" to work on something outside our main roles, and I spent mine doing work having to do with connecting people and climate. I was part of a grassroots climate community within Google called Anthropocene working on how we could focus more on climate solutions inside Google. I also worked on a little project called Project Nature, trying to bring ecopsychology ideas into Google's processes and products, as well as Flourish, a project in Google's startup incubator Area 120 aimed at helping people stay connected to one another.

After Flourish was cut from Area 120, I tried to find a way to get a head count and work on it full-time as an internal project, but it became clear to me that the tightening budget and constructs of Google weren't going to support that.

Just two weeks later, in January 2023, I was laid off. I felt almost a relief and a sense of openness. I suddenly had this blessing of a healthy severance to use to build what I wanted outside of Google.

I've been working on building community and strengthening connection

From March through May, I intermittently job-searched and almost joined an early-stage startup, but nothing quite landed. I wanted to do something meaningful and satisfying. I also traveled a bit around the US, did a lot of reading and writing, and participated in a lot of community engagement. I have a thriving community here in Boulder and enjoy being in nature, learning, and growing.

I became the executive director of a nonprofit I joined in 2022 called Consciousness Hacking Colorado and led its relaunch as Woven Web. We're an organization about facilitating harmony between technology, society, consciousness, and nature, and we place a lot of emphasis on helping people communicate and collaborate more effectively.

I also started exploring political engagement and ran for Boulder City Council. While I didn't win my race, the city council appointed me to the Human Relations Commission. It's been going great. I've been starting some conversations about how we address tensions in our community, especially in relation to the Middle East conflict, and we're beginning to make proposals about how we can bring about better dialogue in our city.

I'm also pursuing a second master's degree, this time in creative technology and design at the University of Colorado Boulder's Atlas Institute. It's been really fun growing my tech skills again in a creative way, with coding and generative art.

In October, Woven Web coordinated a 10-day event to connect people across different communities and ultimately create more coherence in Boulder. This also served as a launching point for us to raise some serious philanthropy and grant funding so that I can pay myself to be full-time executive director.

The path I'm on is beautiful

I don't have too many regrets in life. There are so many pathways, but the one that I'm on feels really beautiful. I feel I've lived a pretty full life since being laid off. I've been really excited to have plenty of space away from a core working environment, and now I'm really happy to be back to having a lot of structure in terms of Woven Web and school.

I'll go back into some form of full-time work at some point, but I'm not rushing to any decisions. For now, I feel stable enough to keep prioritizing learning and creating community, putting a lot of the gifts I received at Google to good use.

I bike past the Google office a lot here in Boulder and often feel a tenderness in my heart. I've even had tears well up before. For all of the company's faults, there are many things that it does well, like the beautiful community of people who work there. I have so much love for many of the people.

If you took an unconventional career path before or after Big Tech and would like to share your story, email Jane Zhang at [email protected].

Read the original article on Business Insider

I worked with Jeff Bezos for 15 years and my biggest Amazon failure disappointed him. These 6 lessons helped me rebuild my career.

5 December 2024 at 01:22
Photo illustration of Ethan Evans and Jeff Bezos.
Ethan Evans is a former Amazon VP.

Ethan Evans; Getty Images; Jenny Chang-Rodriguez/BI

  • Ethan Evans, a former Amazon VP, led a failed project in 2011 that interrupted Jeff Bezos' launch plans.
  • The failure involved a critical design flaw in the Amazon Appstore's "Test Drive" feature.
  • It taught Evans to communicate in a crisis, take ownership of a problem, and rebuild trust slowly.

I worked at Amazon for 15 years, starting in 2005 as a senior manager. When I left in 2020, I was a vice president.

My biggest launch failure was in 2011 on a project Jeff Bezos personally cared about. The failure interrupted Bezos' plan to present the feature publicly, causing me to miss my promotion and almost leave the company. However, I went on to be promoted from director to VP and have a long and happy career.

I learned a lot about dealing with a crisis and rebuilding trust as well as a lot about Bezos as a leader. He taught me the importance of maintaining high standards while being willing to forgive and move on.

Here's the story of my biggest failure

When I started at Amazon, I was assigned to Prime Video and had periodic direct exposure to Bezos.

When I was promoted to director, I continued working with Bezos on creating Amazon Studios. Throughout my first six years at the company, I met with him at least once a quarter about one of my projects.

In 2010, I started working on the Amazon Appstore. We planned a new feature called "Test Drive," which allowed you to simulate an app on your phone before buying it.

Bezos was excited about this feature and planned to make it the focus of his launch announcement. At the time, when Amazon launched something new, the company would replace the normal homepage with a personal letter from him explaining the new offering.

Our launch's "Jeff Letter" focused on the "Test Drive" feature. The night before the launch, our team launched the new store.

Everything except the "Test Drive" feature was working well

We worked through the night to debug the intermittent failures, but as morning came and the announcement was supposed to go out, the feature wasn't working. At 6 a.m., I got an email from Bezos asking why his letter was not on the homepage.

I replied that we were working on some problems, hoping he would get in the shower, go on the treadmill, or do anything else to buy us more time. Within a few minutes, he responded and asked, what problems?

All hell broke loose.

The VP and SVP above me both woke up and started asking questions, and more and more leaders were CC'ed into the email thread. We quickly realized that our feature had some critical design flaws and wouldn't be a quick or easy fix.

The first three lessons I learned were during the crisis, and the next three were learned after.

Mid-crisis

Lesson one: Communicate clearly and predictably

I began sending hourly updates to Bezos and the other leaders, working to slowly re-establish trust. Each message briefly explained where we stood and what we would be doing in the next hour, and they each promised a further update in the next hour.

Lesson two: Accept help

Other leaders who had experienced similar problems reached out and offered help from their teams, so within a couple of hours, several very senior engineers were working with my team.

They quickly figured out the problems and announced that we had a design flaw that needed to be re-written. The temporary solution was to work around it with extra hardware. Without this workaround, it could've been days before the feature was up and running.

Lesson three: No all-night launches

Planning an early morning launch that required us to work all night became an obvious flaw. I needed to be sharp to manage the crisis, and my team needed to be able to help with the fixes. We started rotating people home to sleep in shifts, and we learned never to accept a launch schedule that would put us in this position again.

As my team and I became increasingly exhausted, Bezos became increasingly frustrated. He wanted a fix that day. This led to the other leaders ramping up the pressure, and the weight on us kept getting heavier.

We were finally saved when the CTO, Werner Vogels, intervened and said the team could not fix this problem in one day. Bezos fell silent on the email threads.

Over the next few days, we patched the design problem and rewrote the code to eliminate the issue, but as the technical obstacles were removed, the management problems only increased.

The "Jeff Letter" never went live on the website. By the time we had everything fixed and tested, the news cycle had moved on, and Bezos' moment to tell his customers about the exciting new feature was gone.

After the crisis

Lesson four: Own the problem

My direct report volunteered to take the fall. The engineer who wrote some of the code did the same. My manager also sought to take overall responsibility. Ultimately, Bezos knew it was my team and code, meaning I had to own the problem.

Amazon has a process called COE (Correction of Errors), which involves a written investigation of a problem's root causes and a plan to prevent similar problems in the future. I wrote this report and was asked to share it with all my peers in the organization. Publicly sharing an analysis of our mistakes was embarrassing, but doing a good job of it helped me re-establish trust in my leadership ability.

The week after the launch, I was scheduled to attend a meeting with Bezos about another project. I considered skipping it, but I decided that if I couldn't face Bezos, I should probably pack my desk and find a new place to work.

I went to the meeting.

Bezos always sat in the same chair in his conference room. I went early and chose a chair right next to where he would sit. He came in, sat next to me, and ran the meeting. As the meeting ended, he asked me how I was doing because it must've been a tough week.

Bezos showed empathy for my experience and concern for my well-being. He could've just as easily asked for a status report or taken me to task for the problems; instead, he chose to focus on me as a person rather than on any frustration or curiosity about the project.

Lesson five: Face your leaders

Don't hide. I understand the temptation to avoid those who might criticize you, but facing Bezos reassured me that he was over his initial frustration and was willing to give me the time to rebuild trust.

In short, going to the meeting allowed me to stay at the company. I knew my job was on the line, and a single word from Bezos would've sent me packing.

Lesson six: Patiently rebuild trust

I'd been close to a promotion to VP, but now I had to re-establish that I could operate a key business carefully and consistently. I was eventually promoted, but it took two more years.

I learned that trust can be rebuilt but that it takes time.

Bezos taught me how important it is to hold your teams to high standards but also be willing to forgive and move on. He chose to be kind, empathize, and offer encouragement to me, which inspired me to spend the rest of my corporate career with Amazon.

I left in 2020, less than a year before Bezos stepped down, to focus on teaching leadership lessons to the next generation.

An Amazon representative didn't comment on this story when contacted by Business Insider.

Ethan Evans is a retired Amazon vice president with over 23 years of experience as a business executive.

Read the original article on Business Insider

How I'm setting my daughters up to have $1 million each by the time they turn 30

30 November 2024 at 02:42
Brennan and Erin Schlagbaum hold their daughters as they sit on a couch
Brennan Schlagbaum and his wife Erin contribute $500 a month to their daughters' investment accounts to prepare them for a strong financial future.

Brennan Schlagbaum

  • Brennan Schlagbaum and his wife became millionaires in 2022 after paying off debt and investing.
  • They set up 529, brokerage, and Roth IRA accounts for each daughter, which they contribute to monthly.
  • Their goal is to leave each daughter with over $1 million by the time they are 30.

This as-told-to essay is based on a conversation with Brennan Schlagbaum, a 32-year-old CPA and founder of Budgetdog, who lives in the Dallas-Fort Worth area. The following has been edited for length and clarity.

My wife and I reached our goal of becoming millionaires in 2022, after five years of paying off over $330,000 in debt — including our house, cars, engagement rings, and student loans — and investing our money, largely in index funds.

We have two daughters — Logan is 3 years old, and Ellie is 1 — and when each of them was born, we set up three accounts which we put money into each month. Assuming 8% interest, their accounts should leave them each with $1,000,000 by the time they're 30. Compound interest is honestly the eighth wonder of the world; time is money.

Our goal with our investments for our daughters is to position them for success and give them opportunities that we may not have had growing up.

I don't want my kids to have a scarcity mindset

My wife and I both grew up middle class. In 2008, my family lost our house and cars, and I saw my parents change mentally. We still had food on the table and access to education, but I could tell things were tight and I felt a sense of scarcity that has stuck with me.

I don't want my kids to feel that way about money. I grew up being told that if I did a chore, I'd make X dollars. Then, I'd have to put, say, $2 toward saving, $1 toward charity, and could have $2 for spending. It was a good lesson, but it also fed into my scarcity mindset.

I want my daughters to realize that value creation is more important than trading time for money — I learned this when I moved from my 9-to-5 at Deloitte to being an entrepreneur — so I try to get away from the hourly or shift work structure with them and think about how I can help them have an abundance mindset rather than a scarcity mindset.

I want my kids to be trust fund babies who see money as a tool

I'm not of the belief that you should just hand your kids money. I think that creates what most people view as a "trust fund baby" who wastes their family's money, and that's not what I want.

But I do want a trust fund baby in a different way — in the sense that they understand the principles and responsibility that come with money and what they can do with it, treating it as a tool rather than as a god. How someone chooses to use money shows who they are as a person, so we feel that grounding our daughters' characters is essential. We think charity is really important, for example, and we want that to all be included in our daughters' understanding of money.

I think it's a really good idea for my kids to understand how much I make and how much we spend. They're young right now, so they don't understand the technical elements, but I think it's worth explaining things to them so they can adopt our culture around money.

If Logan came to me and said, "Hey, my friends are going to the park. Can I have 10 bucks?", I'd have a conversation with her about what she needs the money for and teach her not to spend it recklessly. I'd ask her to think about whether she values what she's spending it on.

Here are the three accounts we have for our daughters

We typically put a total of around $500 a month into each child's accounts and plan to increase our monthly contributions to $1,333 a month for each child when they turn 7 as we pay them more for helping with my business.

529 plan

The 529 plan is for their education. My wife and I want to contribute 60% of the cost of a four-year public in-state college and to have them take accountability and cover the other 40%, whether it be through scholarships, working, or other methods. Using Vanguard's college cost calculator, we decided to put $250 a month into each of the girls' 529 accounts.

But we also don't want them to get a college degree just because we saved up money for them. I went to college totally clueless because my parents told me to, and I don't want my children to repeat that same cycle. We want them to ask themselves, What do I want to get out of life?

Also, our older daughter was diagnosed with Dravet syndrome when she was five months old, so we don't know whether college will be on the table for her. Because of that, we decided to switch to putting all $500 a month into her brokerage account until we better understand what her future will look like.

Taxable brokerage account

The second type of account we have for both of our daughters is a taxable brokerage account. They're both in my wife's and my names, but we'll be able to give the money to our kids when the opportunities arise.

According to the IRS's gift tax law for 2025, we're allowed to gift up to $19,000 per spouse per kid without paying taxes, so we could technically give them each $38,000 a year from this investment account. Currently, we put $250 a month for Ellie and $500 for Logan. If they receive money from grandparents or family for holidays, I typically deposit that amount as a lump sum into their brokerage accounts as well.

We want to let the money that's being invested for them grow for quite some time, so they probably won't touch the brokerage account money until they're 22 and fully in the adult world.

Roth IRA

The Roth IRA is for retirement purposes and requires earned income. Our daughters are young and don't have much income, but I pay them for the photoshoots they do for my business. It's nothing crazy — maybe $200 to $400 a year. Logan has $1,200 in her Roth IRA at the age of three and Ellie has $200.

Many parents think, "Well, my kids are too young to work, and they don't have earned income, so we can't set up a Roth IRA for them." The only requirement is to have earned income, and there are a number of ways they can do so.

I'd rather give my kids now than wait until I die

I think it's silly to wait to give our kids money. If someone gets a big lump sum when their mom or dad passes away, they often look at it as this big gift, almost like winning the lottery. They often don't treat it as a tool and instead live on a yacht and party and do nothing.

Instead, I think it's better to give it to our kids now, so that we can teach them how to treat money and how saving and investing has given them opportunities.

If you'd like to share the steps you're taking to prepare for your children's financial futures, email Jane Zhang at [email protected].

Read the original article on Business Insider

I've worked in San Francisco, Chicago, and Silicon Valley. Only one has the best mix for career, family, and socializing.

27 November 2024 at 01:36
Mike Manalac takes a selfie with his wife and son at Google's Chicago office with the Chicago skyline in the background
Manalan with his wife and son on the rooftop of Google's Chicago office in June 2024.

Mike Manalac

  • Mike Manalac has worked in the tech hubs of San Francisco, Silicon Valley, and Chicago since 2016.
  • He says each place has its strengths, but Chicago is the best place for raising a family.
  • Chicago offers Manalac and his family the perfect balance career, affordability, and family life.

This as-told-to essay is based on a conversation with Mike Manalac, a 39-year-old accounting manager at Google. It's been edited for length and clarity.

Over the past eight years, I've worked in the tech scenes of San Francisco, Silicon Valley, and Chicago. The three places couldn't be more different in terms of lifestyle, and they've each appealed to me for different reasons.

Here's how the three places compare:

San Francisco is fun but not for the faint of heart

Mike Manalac smiles as he takes a selfie on a street in San Francisco
Manalac in San Francisco.

Mike Manalac

I moved to San Francisco in 2016 to pursue world-class career opportunities and adventure. I'd spent the past eight years as an audit manager in Baltimore and the cross-country move was a big change for me.

As someone with ambitious career goals, San Francisco was the mecca of opportunity, so I joined PwC to get closer to Bay Area tech jobs. Some of the world's most innovative companies were basically next door, and their corporate headquarters lined the city's blocks like Lego bricks.

I once interviewed at Salesforce's headquarters while on my lunch break since it was only a few blocks away from PwC. When doing phone screens for Uber, Twitter, and Dolby, I knew I'd be able to walk over to their offices for an on-site interview at a moment's notice.

As a young professional with limited life responsibilities, San Francisco turned out to be the perfect place to live fast and loose. The social scene was amazing — a night out for drinks could mean stopping by a speakeasy with no sign, sipping a mai tai on a floating tiki bar, or drinks served from a bathtub at a bar the size of a walk-in closet.

San Francisco also has the best park scene in the country; I've yet to find a better party than a regular Saturday afternoon at Dolores Park.

People sit on the grass of Mission Dolores Park overlooking the San Francisco skyline
An afternoon in Dolores Park.

Mike Manalac

It's also a walkable city. For the first time in my adult life, I was car-free. The city was full of trendy coffee shops, unique bars and restaurants, and charming neighborhoods to explore.

But living in San Francisco also isn't for the faint of heart. Outside of coworkers, my then-fiancée (and now wife) and I found it incredibly challenging to make friends; everyone seemed to assign others a level of importance based on where they lived and worked. I also would've needed an absurd amount of wealth to purchase a home and raise a family there.

I felt that the city's biggest blemish, though, was the seedy Tenderloin district, which sits smack dab in the middle of downtown. I had to walk through the neighborhood to catch a corporate shuttle bus to work, and I saw my fair share of sketchy characters and shady dealings at the time.

Silicon Valley's career opportunities were unmatched

Later that year, I started working in Silicon Valley after I joined Walmart's eCommerce division in San Bruno. And the following year, I landed a job as an accounting manager at Google's Sunnyvale campus.

Silicon Valley offers the coolest places to work and its career opportunities are unmatched. I was amazed by the sprawling corporate campuses. Walking through Facebook's invite-only campus, which is like a walled garden city, and down its main street, Hacker Way, I was in awe. In nearby Mountain View, I couldn't believe how nearly every building in the city was branded with Google's logo.

Mike Manalac takes a selfie in front of the Google Android Statue Garden
Manalac at Google's Android Statue Garden in July 2018.

Mike Manalac

I saw corporate buses and colorful bikes whizzing around and young professionals with corporate badges on their hips and branded backpacks on their backs.

While Silicon Valley may be the tech capital of the world, I'd never live there. For one thing, I couldn't afford it; the cookie-cutter neighborhoods of Silicon Valley are reserved for millionaires and the hillside mansions for billionaires. I, on the other hand, commuted from San Francisco via corporate shuttle bus.

But I wouldn't have wanted to live there anyway. The social scene was dead, the city wasn't walkable, and the nightlife was nonexistent. Nobody I knew went to happy hour after work, restaurants closed early, and most people only lived there because of the proximity to work.

Chicago has a down-to-earth social scene and affordable, family-friendly neighborhoods

I moved to Chicago with my wife in 2019, transferring to Google's Chicago office. The cost of living in Chicago was much cheaper, my commute would be shorter, and we'd be closer to her family in Michigan and mine in Maryland.

Chicago doesn't have the buzzy tech scene or beautiful weather of San Francisco and Silicon Valley, but it's no slouch when it comes to career opportunities. More Fortune 500 companies are headquartered in Chicago than in almost every other city in the US, and the job opportunities are much more diverse than what you'll find in the tech-centric San Francisco and Silicon Valley.

From Google's office in Chicago's West Loop, I can see McDonald's global headquarters down the street and a number of other premier employers dotting the city skyline.

Chicago is a city that likes to party, making San Francisco look sleepy by comparison. Bars don't close until 2 a.m., with some staying open until 4 a.m. Chicago's Lake Michigan beach scene is much livelier than that of San Francisco. But the social scene also has a down-to-earth vibe; people are Midwest nice and seem to live at a more casual pace.

The best part about Chicago is the moderate cost of living. I was able to afford a three-unit home with rental potential in Chicago for $830,000 — a price I'd never find in San Francisco — that's in a walkable neighborhood. It's the perfect blend of family-friendly city life. Our three-year-old son loves taking the train home from daycare and running wild at one of the city's many playgrounds.

I think Chicago is the best of the three places to start a family

After working in these three awesome places, I've realized that even the best cities have their flaws.

San Francisco has the coolest social scene and overall vibe, but it's one of the worst cities for settling down because of its high costs.

Silicon Valley offers the best career opportunities, but its social scene is lacking since everything there is about work, work, work.

Chicago is the best of the three locations to start a family due to its affordability and comfortable pace of life, but it's not quite as cool as San Francisco and can't match the career opportunities offered in Silicon Valley.

Overall, though, it's hard to beat Chicago's mix of career opportunities, vibrant social scene, and opportunities to start a family.

If you've moved around for work and would like to share your experiences of different cities, email Jane Zhang at [email protected].

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I worked at Google and Meta: Here's the résumé that helped me land jobs at both companies

26 November 2024 at 02:04
Andrew Yeung speaking on stage.
Andrew Yeung's résumé has gotten him interviews at Google, Meta, Amazon, Uber, and Spotify.

I Love Failure

  • Andrew Yeung landed roles at Google and Meta by perfecting his résumé.
  • Yeung submitted a one-page, black and white résumé with clean formatting and bullet points.
  • He said job candidates can stand out if they customize, simplify, and quantify their résumé.

I was able to land a six-figure role at Google as a global product lead and Meta as a business planning and operations lead. I also made it to the final rounds at highly competitive tech companies like Amazon, Uber, and Spotify — not because of an Ivy League education or a stellar background, but because I perfected the craft of creating an impactful résumé to sell myself.

While there may come a day when your LinkedIn profile, personal website, or X account is all you need to land a job, your résumé is still the standard document required for the majority of jobs today.

A résumé is often the first point of contact between a job candidate and a company — they'll usually review it (for an average of six to seven seconds) before speaking with you, so it's crucial to have everything in order and avoid common mistakes that most people don't realize they're making.

Here's the résumé template I used.

Sample of Andrew Yeung's résumé.
A sample of the résumé that helped Andrew Yeung land jobs at Google and Meta.

Courtesy of Andrew Yeung

Master the fundamentals

Remember to nail the essentials: Make your résumé a one-page, black-and-white PDF with a clear name (e.g., "Andrew Yeung's Resume"). Use well-formatted bullet points, proofread for typos, and include your contact info, LinkedIn profile, and personal website (if you have one), and make sure the layout is clean and visually appealing.

Nothing else matters if you don't have the fundamentals in place.

Customize your résumé to the role

During my job search, I created three distinct résumés tailored to the roles I was pursuing: strategy and analytics, product management, and sales. Each résumé included specific verbs, phrases, and concepts that were relevant to the role I was applying for, often pulled directly from job postings.

Most job seekers send out the same résumé everywhere, but recruiters and managers can easily spot the "spray and pray" approach. Even worse, applicant tracking systems may even flag your profile and auto-reject you if your résumé isn't relevant enough.

Lead with impact

Don't just do what everyone else does on their résumé: list their responsibilities. Instead, emphasize the impact of your work by using the following format:

"Achieved [insert impact] by [quantitative metric] by doing [insert activity]."

Example:

  • OK: Responsible for reaching out to new distributors for the men's apparel category.
  • Good: Increased sales for the men's apparel category by reaching out to closing distributors and onboarding them.
  • Great: Increased sales for the men's apparel category by $10M annually by reaching out to 15 new distributors and onboarding them to the platform with a closing rate of 85%.

Generalize and simplify

The hiring manager and recruiter will often have much less context than you do on your previous experiences. They will know far less about your specific projects and initiatives, meaning you will have to simplify concepts, explain technical jargon, and elaborate on acronyms.

When in doubt, start by generalizing a concept to make it widely applicable, then narrow it down as necessary.

Example:

  • Too specific: Launched Company X's GBM FY24 CX initiative to 5,000 EG customers and increased our NPS by 15, ICSAT by 15% while reducing regrettable churn by 20%.
  • Simplified: Launched Company X's customer experience initiative for our global business marketing function to 5,000 enterprise customers to increase our NPS by 15, internal customer satisfaction metrics by 15%, and reduce our customer churn by 20%

Quantify as much as you can

The easiest way to spot a rookie résumé from an experienced one is by evaluating how many numbers are included.

Rookies leave numbers out. Pros try to quantify the impact of everything because they recognize the value of a P&L and know that is how business decisions are made.

Quantifying your impact not only proves you made a difference but also demonstrates good judgment and critical thinking. For every line item in your résumé, ask yourself: "How does this impact the bottom line of the company?"

Ask yourself: What attributes do you want to demonstrate?

If you're great at working with clients, prove it by including line items on your client management and customer service skills, and your coachability.

If you're a data wizard, include line items about your analytical abilities, excel prowess, and technical coding competence.

If you're a rigorous operator, include line items about your project management, leadership, and communication skills.

Recruiters and hiring managers will form an impression of you based on your résumé. It's your job to shape that impression.

Finally, remember to be creative — think outside your résumé

Though your résumé is an important piece to the puzzle, you can't solely rely on it for a successful job application. You need to build your network, often before you need it (see: career cushioning). Learn to pitch yourself effectively, master the interview process, and find sponsors within the target company.

Take the time to polish your résumé, and you will see a significantly higher response rate from hiring managers and recruiters at your target companies.

Good news: Once you've perfected your résumé, you likely don't have to do it again for a while.

Andrew Yeung is a former Meta and Google employee who now throws tech parties through Andrew's Mixers, runs a tech events company at Fibe, and invests at Next Wave NYC.

Read the original article on Business Insider

AI can be used to create job promotion, not be a job replacement, says AWS vice president

24 November 2024 at 02:37
Swami Sivasubramanian in front of a blue backdrop
Swami Sivasubramanian, VP of AI and Data at Amazon Web Services, shares how AI can change the future of work.

Amazon

  • Swami Sivasubramanian is the VP of AI and Data at Amazon Web Services.
  • He shares how while AI may cause short-term job displacement, it offers long-term productivity gains.
  • He suggests that workers use AI to take over mundane tasks so they can do more valuable work.

The era of generative AI has arrived, bringing both promise and caution. Many people are wondering if AI can coexist peacefully and productively alongside a broad human workforce with diverse talents, skills, and abilities.

I believe that AI isn't coming to take away jobs — it's coming to take away tasks. 80% of employees' time is consumed by low-value, repetitive, time-intensive, uninteresting tasks, while only 20% gets devoted to the more interesting activities that generate higher value for the organization.

What if we could flip that ratio? What if we could free humans to solve, build, and create? That's what I believe AI can do. In the process, this new AI paradigm can unlock the value of an accelerated and more fulfilling career. I strongly believe that what we invent today can lead to a profound impact on the world — changing industries and people's lives.

Marie Kondo-ing with AI

Thoughtfully deployed, generative AI can remove drudgery and help people find more meaning in their work. It can free you to work on the parts of your job that are more interesting and more valuable — the reasons you got into your profession in the first place.

I think the Marie Kondo principle applies: If the task doesn't spark joy, let AI take it from you. Our goal must be to kindle (or rekindle) our joy, to bring out curiosity and creativity, and to reimagine what's possible, now that we're no longer burdened with an assortment of mundane tasks. In a sense, AI can give each of us a job promotion, not be a job replacement.

There will be short-term displacement but it will self-correct

Of course, the widescale adoption of Gen AI will have impacts and implications, and it would be foolhardy to ignore them. Increased productivity and greater cost efficiencies will inevitably lead to short-term workforce displacement — for example, contact centers with faster resolution times need fewer workers.

However, I believe that AI will also play a self-correcting role in such a macroeconomic picture. Efforts must be made to close wage disparities and potential economic or opportunity gaps. Community colleges should offer guided and hands-on training to ensure AI is accessible to the broadest areas of our workforce. Similarly, technology companies must offer low-cost or free training and certification programs to promote AI's widespread adoption and use.

I believe AI can cut the time for this upskilling process in half and foresee a world where nearly anyone can be an app builder and creator or where a junior technician can do senior-level repairs.

Decisions should still be made by humans

Whether it's conversational search, agent assistants, image creation, or other forms of intelligent automation, AI becomes a supportive foundation that translates into time — time to evaluate, investigate, strategize — and solves problems.

AI will give us access to a nearly limitless set of highly accurate, data-driven predictions. Nonetheless, decisions shouldn't be automated. They should remain the sole province of humans, who have a better understanding of tradeoffs, nuances, and strategies.

Here are some examples of how humans can work alongside AI:

  • Customer Care: Gen AI can provide agents with personalized, real-time responses and prompts based on customer questions and interactions. Agents then exercise their judgment to use them.
  • Manufacturing Design: Engineers can use AI to create digital twins to simulate interactions and their effects with far greater speed and far less expense before they decide on a design.
  • Consumer Behavior: Gen AI can predict the preferences and responses of groups or individual buyers. This will allow marketers to focus on how to optimize campaigns and offers.
  • Drug Discovery: With Gen AI, scientists can slash the time required for drug discovery, accelerate therapy development, and find vaccines that are cheaper and more accessible.
  • Media: By automating the difficult art and production aspects of games and entertainment, Gen AI frees designers to create and ideate more. It can even create personalized gaming experiences.
  • Financial Services: Gen AI can strengthen fraud detection and compliance while increasing the efficiency of loan officers making lending decisions.

By being able to focus on decisions and outcomes, we unlock new creativity that we can channel to solving bigger and harder problems. With this new era of generative AI discovery, there has never been a better time to transform businesses and work as we know it.

Dr. Swami Sivasubramanian is the Vice President of AI & Data at AWS. His team's mission is to help organizations leverage the power of AI and data to solve their most urgent business needs.

If you're an AI expert and would like to share your opinions on the impact of AI on the future of work, email Jane Zhang at [email protected].

Read the original article on Business Insider

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