Friday, August 01, 2008

Got my Raise Plus More

As I was happy to report last month, I was recently promoted to Vice President in my company, and true to his word my CEO last week discussed my compensation with the Board of Directors. The Board gave me a 13% raise - which is substantial given that my responsibilities haven't really changed with the new title and that I have only been with the company for less than 5 months.

Even more important than the cash compensation, the Board has decided to double my equity stake in the company, so if the company is successful and goes public or is acquired, my stock options will be worth a substantial amount of money.

If you recall, I joined this start-up back in March on the hopes of taking an aggressive forward step in my career. So far, the bet seems to be paying off nicely. I am regularly meeting with some of the most prominent executives and investors in my industry. I have developed a very good relationship with the CEO - who has recently called me his "right hand man" - and I have been given a great deal of responsibility and influence. We have many formidable challenges ahead of us, but if my company is able to raise enough money to execute on its long term business plan we will be very successful and if so, I will have taken a very big step forward in my career.

4 comments:

Anonymous said...

Congrats

frugal zeitgeist said...

Well done and I'm sure very well deserved.

William said...

Your story proves that it doesn't take long for the cream to rise to the top. Congratulations!

Shadox said...

Thank you all for your kind words.

Only time will tell if getting promoted in a company such as mine is enough to take the long-term career step I am aiming for.

My company has some serious challenges ahead of it. For now, all I can do is enjoy my rewards and do my best to prove myself worthy.