Holding out for the right opportunity

I had coffee last week with an executive leader and mentor from a previous e-commerce company that I worked for in San Jose. We met at Peet's in Menlo Park at 8:00am...and WOW, there was a line leading out the door with people getting a cup on the way to work. The economy can't be THAT bad in the Bay Area! However, most of those people in line were knowledge workers...and not a part of the retail worker sector that financial reports on CNBC say make the largest contribution to the unemployment number.

My executive friend is very "human" and willing to share his "from the trenches of the business world" experience with me, a middle manager. I respect his advice a great deal because he's been around a while and has seen economic downturns several times...and knows what NOT to do to foster career growth.

"How badly do you need a job? If you don't have to work, wait for the opportunity that has most of it right. Don't settle for the first job that is offered just to get a job in this tough economy," he replied. He was responding to my question of how flexible I should be with title and compensation...specifically as it relates to my transition from being an individual contributor to a team manager/leader.

In my focus to "stop the financial bleeding" I had expressed to my mentor a possible interest in an individual contributor job at a company that is in a growing industry received Series C funding in late 2007. "Getting ANY job in this economy is a good thing," I mused.

"What you want to avoid is having to explain what happened in your interview for the job AFTER this next job," he began. "You had a nice run...with great career progress. You went from manager to senior manager when I met you. You left our company to become a director. If your next position is back to a senior manager (individual contributor) you will spend time in your next interview explaining what happened to your career. You need to keep progressing...even through tougher times."

Wow, how have economic times changed...even from a year ago. I've discussed my mentor's input with several other unemployed friends who are making the transition to middle management too. There are several individual contributor roles that I've come across...and very few team leader positions. Position title and compensation all depend on the organization, though, so it's hard to create a "rule" for the right position.

Can the unemployed in this downturn afford to hold out for the "right" opportunity? I re-connected with a previous coworker who cannot..he needs a job to make ends meet. Or, is it better to take hold true to career growth....and dig deeper into the network to find the "right" opportunity?

I think the decision will be made based on the level of savings in a person's account...and level of risk tolerance...or faith, that something "more right" will come along.

I'm taking a wait and see attitude. Good things will happen...they always do.