How to Plan Your Next Promotion

Have you ever wondered how colleagues or friends from university seem to receive promotion after promotion, while you’re working hard but not receiving the same career progression?

It might seem like they have unlocked the secret formula to fast track their career. Maybe they have! But there might also be more going on which you’re unaware of.

Good news though, you can put a plan in place to join the ranks and take your career to the next level.

Here are some things career go-getters have in common.

  • Write down your ideal career path
  • Commit to the 1%ers; be punctual, dress appropriately, be polite, be prepared for meetings, etc.
  • Take ownership of your work and deliver results
  • Keep a list of your achievements
  • Don’t shy away from hard decisions
  • Understand the bigger picture
  • Always look for opportunities for growth and improvements
  • Continuously increase your responsibilities
  • Lead with actions and set a good example
  • Make industry connections

And our biggest tip…

  • Ask for a promotion (as long as you have a leg to stand on for why you deserve one; refer back to our fourth point above of keeping a list of your achievements so you have it handy without having to try and remember everything you have achieved).

Promotions are usually deserved. They are often taken by those who know their value and aren’t afraid to ask for what they’re worth.

Worst case scenario your company says, “No.” That has benefits too. It opens the communication channels between you and your employer so they know what you’re after and can put a career path plan in place for you. Or you learn that there are no further opportunities so you need to move on.

So, what does an Underwriting career path look like?

  • Assistant Underwriter (2 years)
  • Underwriter (2-3 years)
  • Senior Underwriter (usually requires 5+ years’ experience)
  • Product Manager (usually requires 10+ years’ experience)

Something career fast-trackers usually have in common is that they don’t stay in the same position for more than a couple of years. If they’re unable to get the promotion with their current company, they move onto another company able to meet their career progression goals.

Gone are the days of company loyalty, and instead companies are looking for employees who have experience in different workplaces.

Knowing how to prepare for promotions, how to ask for one, and how to get promoted are essential components of your career management skills. If you ask anyone in senior positions, none of them will tell you they regret asking for a promotion, instead they’ll tell you they regret not asking for one earlier.

By planning your career and taking the necessary actions to move forward, you’ll be at your desired senior level before you know it.

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