Career & Money Lessons I Wish I Knew as a Software Engineer in My 20s

TL;DR

This video discusses important lessons about getting promoted, making money, and pursuing opportunities in the software engineering industry.

Transcript

hey guys in this video I wanted to share the most important career and business lessons I learned in my 20s as a software engineer and I'm gonna cover the following areas how to get promoted at work and how to make money my name is Marco and I've been a software engineer for 10 years now I worked for startups and multi-billion dollar companies I've... Read More

Key Insights

• 💼 Negotiate for promotions: Most promotions are not given, they are negotiated. Tell your managers where you want to be in the future and hold them accountable for helping you achieve your goals.
• 🔍 Keep track of your achievements: It is important to keep track of your achievements at work so you have concrete evidence to support your requests for promotions or raises.
• 💬 Speak up about your accomplishments: Don't be afraid to mention your achievements during one-on-one conversations or performance reviews. Remind people of what you have accomplished to ensure you are recognized for your hard work.
• 💰 Switching companies can lead to raises: Research shows that the majority of people receive a raise when they switch companies. If your current company is stalling your growth, consider exploring other opportunities.
• 🎯 Timing is key: Find the right balance between asking for opportunities and complaining. It's important to know when it is appropriate to ask for something or address an issue in order to further your career.
• 💡 Pursue your ideas: Don't let naysayers discourage you from pursuing your ideas. Take risks and go after what you believe in, even if others doubt you.
• 💸 Get paid now: Insist on getting paid for the work you are doing now. Delayed compensation can be risky, so prioritize fair market pay over promises of future benefits.
• 🛠️ Sell products outside of the buyer's expertise: Selling products that are directly related to the buyer's profession can be challenging. Opt for products that are not in their line of work to avoid unnecessary scrutiny and resistance.

Questions & Answers

Q: How can I improve my chances of getting a promotion at work?

To increase your chances of getting a promotion, communicate your goals to your managers and ask for specific action items and accomplishments that you need to achieve within a certain time frame. Keep track of your achievements and bring them up during performance reviews or one-on-one meetings.

Q: How can I increase my earning potential as a software engineer?

Research shows that most people get a raise when they switch companies, so don't be afraid to look for new opportunities with higher pay. Keep practicing interview questions and be proactive in seeking out opportunities for promotions or higher-paying positions.

Q: How should I handle negative feedback or skepticism about my ideas or career path?

It's important to ignore negative voices and pursue your ideas and passions, even when others doubt you. Just because someone says something is impossible doesn't mean it is. Trust in your own abilities and take on challenges that you believe you can overcome.

Q: What is the downside of accepting compensation in the form of stock options or delayed payment?

The downside of accepting compensation in the form of stock options or delayed payment is that the value of the compensation may decrease over time due to factors like inflation. It's important to ask to be paid in today's money for the work you're doing now, rather than relying on future promises or bonuses.

Q: What types of products are easier to sell in the software engineering industry?

Selling products that are not directly related to the buyer's line of work can be easier because there is less pressure for perfection. For example, selling a fitness app to a developer or a time tracker to a real estate agent may be more successful than trying to sell a product that is in the direct line of work of the buyer.

Summary & Key Takeaways

• Most promotions are negotiated rather than given, so it's important to communicate your goals to your managers and keep track of your achievements.

• Research shows that switching companies is often the only way to get a raise, so be proactive in seeking new opportunities.

• Ignore negative voices and pursue your ideas and passions, even if others doubt them.