Landing a Promotion in an Industry of Ladders

Just because the economy is tough and promotions are less common doesn’t mean finance workers eager to move up should give up. In an industry that’s all about hierarchy, it’s still possible to move up the ladder.

First, take time to think about why you deserve a promotion. With funds tighter than ever, companies are only looking to promote people for excellent reasons. Write down why you deserve a promotion, but also list what you would bring to the table in a more senior position. Remember, it’s not just about you—your company is interested in what you can do for them.

The next steps are all about laying the groundwork that will pave the way to your promotion. Learn how to carefully market yourself to your boss without going over the top. From time to time, mention your achievements and what you’re doing to benefit the company and your team. Your boss is busy, so it’s good to remind them now and then why you would be a deserving candidate for a step up in the business.

Investigate opportunities to learn more about your business. For example, find someone in sales and see if there is a way you can help them close a deal by adding your own perspective or assisting in negotiation. Proving you can handle several facets of the business and working with people who aren’t only within your department demonstrates your ability to handle a wide variety of responsibilities. It will also show people in other departments that you are open minded and can understand them.

When trying to take on more responsibility, consider before you commit. It’s better to do several things well than to do a multitude of things poorly. Do seek out extra responsibility, but don’t take on more than you can handle. It will only backfire.

If you don’t have an M.B.A., look into part-time programs. Working while you earn a degree will let you bring great experience into the classroom, and it will also let you apply your new learning to work. Use your new knowledge base to demonstrate to coworkers that you would fit as a senior manager.

The most important components to landing a promotion are the same ones that helped you get your current job—hard work, integrity, and patience. A promotion won’t come to you overnight, but if earning a senior role is your goal, it’s worth the wait and the effort.