How to Secure a Promotion: Insights from Rich Paul and Horacio Falcão
Unlock career growth by adopting a proactive mindset. Learn from Rich Paul and Horacio Falcão on how to earn a promotion.
In the corporate world, simply having the longest tenure or doing your job well may not guarantee a promotion. Rich Paul, founder and CEO of Klutch Sports Group, emphasizes that employees should not feel entitled to salary bumps or promotions without putting in extra work. According to Paul, the key is to consistently elevate your work ethic and impact.
Merely fulfilling your job description or spending years at a company won't necessarily help you climb the corporate ladder. Instead, adopting a self-starter attitude, demonstrating a willingness to learn, and going above and beyond will set you apart from your colleagues. The proactive approach of getting in early, staying late, and taking initiative without being prompted gives you a competitive edge.
Rich Paul, who hosts a MasterClass course titled “The Dealmaker’s Mindset,” shares his journey from meeting LeBron James at an airport to founding Klutch Sports in 2012. His story illustrates that opportunities arise from taking initiative and immersing oneself in learning.
To show your boss that you are driven and hungry for success, Horacio Falcão, an INSEAD professor and negotiation expert, advises building a rapport with them. Regular communication about expectations and performance fosters trust and ensures your aspirations for a promotion are clear.
When discussing your career goals, express your excitement and willingness to invest the necessary effort, time, and energy to advance. Ask your boss: “What do I need to do to become the next person up for promotion in my group?”
Another valuable tip from Paul is to broaden your skills and anticipate your boss's needs. Research new skills that benefit your team and take initiative on tasks before being asked. For instance, if your boss often uses icebreakers at meetings and is running out of ideas, suggest some ahead of time.
Most importantly, Paul advises against expecting handouts. The professional world doesn’t operate on the same reward system as childhood. Success requires initiative, effort, and a proactive approach.
For those eager to earn more at work, CNBC offers an online course on negotiating a higher salary. This course teaches essential skills to help you secure a bigger paycheck, including preparation, confidence-building, and crafting counteroffers. Additionally, subscribing to CNBC Make It’s newsletter provides ongoing tips for success in work, money, and life, and offers the chance to join an exclusive LinkedIn community to connect with experts and peers.