The Power of Career Patience
In August 2010, I stood proudly defending my dissertation, finally earning my Ph.D. That same month, I stepped into my first role as an Assistant Professor of Economics. In my mind, I had arrived. My professional dream had become a reality. There was just one catch – financially, I had taken a significant step backward.
My starting salary? A modest $52,000. In today's terms, that's about $74,921.58. It was far less than I had envisioned when I began my graduate studies in 2006. The harsh reality was that the economy was still reeling from the Great Recession, and higher education funding had taken a massive hit. Jobs were hard to find.
The market had spoken, and this was my best option. I knew I needed to focus, work hard for a few years, and test the waters again. That strategy led me to Northern Kentucky University in 2013.
Looking back, I now see how each step of my career, no matter how small or seemingly off-course, was crucial in shaping my journey. Take my first job after my master's degree in 2003 – a 100% commission-based mortgage broker. By conventional standards, I was "underemployed." I'd often hear whispers, thinly veiled as a concern: "When are you moving to NYC for that investment banking role?"
But that job? It was a goldmine of experience. It gifted me my dissertation topic, allowing me to complete my Ph.D in just four years. As a mortgage broker, I mastered the art of sales, learned team leadership, understood how to run a lean start-up, and discovered how to scale a vision. I witnessed firsthand how policy and market structure influence both businesses and consumers. I saw how credit agencies could fail, causing actual harm to real people. I learned that information is rarely perfect and how that imperfection colors every decision we make.
Today, the central theme of my research and work revolves around the role of information in decision-making. It's fascinating to see how each role I've held has left its mark on my current work. I won't sugarcoat it – I didn't love every aspect of every job. But each one taught me something valuable that I carry with me today.
As I contemplate my next career move, it may appear to the outside world that each step has been carefully calculated for maximum career impact. The truth? For most of my career, I've asked myself: "What can I learn from this opportunity, and how do I leverage it for future moves?" The narrative that you should love every aspect of your job is false, but each should teach you something.
Remember, every career step holds value. Skipping a step means missing out on a unique learning experience. Embrace your journey, be patient with your progress, and trust that each role, no matter how “small,” is shaping you for something greater. The question is, how will you make the most out of it?