Vault's Careers Blog

Career advice and job search strategies for the modern careerist

Archive for the ‘Tech Careers’ Category

Vault’ s Careers Blog is Moving

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An announcement: after almost a year on WordPress, we’re discontinuing Vault’s Careers Blog on WordPress. But don’t worry: you’ll still be able to get your fill of career information and advice on Vault.com–where our blogs are going from strength to strength.

Our full blog lineup on Vault.com is as follows:

Vault’s Careers Blog
Vault’s Law Blog
Consult THIS: Consulting Careers, News and Views
In Good Company: Vault’s CSR blog
In the Black: Vault’s Finance Careers Blog
Admit One: Vault’s MBA, Law School and College Blog
Insider Career Advice from SixFigureStart
Innovate with Influence: Global High Tech

Thanks for reading us on WordPress.

We hope to see you over on Vault.com soon!

–The Vault Editorial Team

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3-Box Time Management: The Fourth Habit of Effective Intrapreneurs

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This is the fifth in a series of articles that describe the unique traits of a corporate intrapreneur.

The first three habits (productivity, initiative, and collaboration) are closely tied to idea generation.

The next three habits, when practiced properly at a corporation, can often lead to the successful delivery of ideas. Idea delivery is characterized by the creation of a product or service that provides value to a customer.

These first stages of delivery occur as part of a technique known as 3-box time management, which is depicted below.

Vijay Govindarajan (VG) is a Professor of International Business at Dartmouth College. He is the author and evangelist of the 3-box strategic approach to corporate innovation. Three-box innovation strategy dictates that the majority of corporate resources should be invested in the Box 1 diagram listed below: Manage the Present. This box represents the continued development of existing products to yield most of a corporation’s revenue. Employees supporting this box focus on existing customers and processes, and they continue to leverage their existing competencies. In essence, this box “funds” the development of innovation within a corporation. Some companies fall into the trap of spending close to 100 percent of their resources in this box.

Vijay advises corporations to allocate portions of their resources to Box 2 and Box 3 as well as tried-and-true Box 1. Box 2 selectively abandons the past by “forgetting” most of what is known about the products built in Box 1, including why they were built and whom they were built to satisfy. This break from tradition enables an innovator to take existing products into completely different markets.

Box 3 is a more radical approach to innovation. It completely ignores current processes and products and prominently targets the future.

The figure below applies this 3-box corporate framework to an intrapreneur’s use of his or her own time (note that the box titles change when applied to an individual).

Intrapreneurs can be most effective when they are delivering products as part of a business unit (as opposed to being a member of a research team in an ivory tower). Why? They often prefer to be in the trenches, where they can be highly productive, visiting customers, and collaborating with others. They are respected within their organizations for doing those very things.

Perhaps their most significant contribution to their business unit’s product line is funding their employment and that of their collaborators. They are squarely positioned in Box 1.

Spending all of their time in one area of expertise does not enable intrapreneurs to achieve success. Their natural curiosity and passion will not allow them to stay in only one place. They practice the discipline of limiting the amount of time they spend in Box 1.

By limiting the amount of time they spend in Box 1, intrapreneurs make time for Box 2 and/or Box 3 activities. They set aside the time to learn about customer issues. They set aside the time to explore adjacent technologies. They regularly meet with experts in adjacent fields and collaborate to dream up ideas of what might be possible. Most importantly, they begin to build out their ideas.

It is worth pointing out the difference between Box 2 and Box 3 intrapreneurial behavior. Box 2 behavior is characterized by Venn diagram innovation. The intrapreneur collaborates in the context of a well-defined customer problem.

Box 3 behavior is characterized by blue sky innovation: taking the initiative to learn new technologies and collaborate without necessarily starting with the context of a defined customer problem. Blue sky innovators may ask themselves and others, “What might this capability be used to do?” Answers to this question can result in breakthrough innovation. It is often the case that breakthrough innovation can be applied to customer problems they don’t yet know they have!

It is a difficult balancing act to regularly spend time outside of Box 1. It takes passion and persistence. But it is the very first step that a new intrapreneur must take to prove his or her worth!

Subsequent steps build on the important ability to manage one’s time well. Please consider subscribing to this blog for a discussion of the next phase of idea delivery: managing one’s visibility.

Steve
http://stevetodd.typepad.com
Twitter: @SteveTodd
EMC Intrapreneur

Unveiling the Top-25 Most Prestigious IT Consulting Firms

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As explained last week, our primary IT consulting ranking this year is a composite score that takes into account both quality of life rankings (as determined by a firm’s own consultants’ votes) and prestige rankings (or, outsiders’ rankings of consulting firms other than their own). Both sides of the equation are critical to choosing an ideal employer. But when selecting an employer, a good first impression of the company is to gauge how outsiders view its reputation in the industry. This is why the Vault prestige ranking is such an integral tool for job seekers.

Respondents to this year’s Vault IT Consulting Survey were asked to rate each consulting firm in the survey on a scale from 1 to 10 based on prestige, with 10 being the most prestigious. Consultants were unable to rate their own firm, and they were asked to rate only those firms with which they were familiar. Vault collected the survey results and averaged the score for each firm. The firms were then ranked, with the highest score being No. 1, down to No. 25. Remember that Vault’s top-25 most prestigious IT consulting firms are chosen by practicing consultants at top consulting firms. Vault does not choose or influence these rankings. The rankings measure perceived prestige (as determined by consulting professionals) and not revenue, size or lifestyle.

All in all, our prestige list provides a comprehensive roadmap of who’s who in the IT consulting industry—ranging from big tech consulting shops to smaller, niche firms, and spanning a vast swath of expertise. Without further ado, check out this year’s top-25 most prestigious IT consulting firms!

Oh, and stay tuned next Tuesday for our release of specific practice area rankings!

Written by A.A. Somebody

October 20, 2010 at 10:25 am

Admit Nothing: Debunking the Infallible Leader

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There is a phenomenon in leadership, known as the “Reality Distortion Field.” The term describes a level of charismatic self-assurance so overwhelming and nigh delusional that no criticism can penetrate it, and those in its path are powerless to withstand the hype.

In this sphere, any ambition is attainable, every idea a masterpiece and any setback a negligible distraction. Such overconfidence might seem absurd on paper, but in practice it is embraced as an exceptional quality. But not everyone can get ahead simply by putting perception in a chokehold.

The term’s origin should come as no surprise: Apple drones coined it in the early 1980s to illustrate the belligerent influence of Steve Jobs. “In his presence,” as one minion put it, “reality is malleable. He can convince anyone of practically anything.” If complex tasks were scheduled in an unrealistic time frame, Jobs deemed it eminently doable; should evidence show Steve was wrong, he bent the facts to prove himself right.

Over time, claims of “Reality Distortion” have been applied to other Silicon Valley honchos. Apple’s chief rival, Microsoft CEO Steve Ballmer, is most notable for displays of boundless, sweaty confidence that somehow captivate industry audiences. So too is Larry Ellison, who has recently taken to harshly doling out unsolicited criticism of peers in the press (who willingly take his word as gospel).

Given their collective achievements, one might think that there’s something to the obstinate approach. In truth, they serve as outliers. Without true knowledge and ability, a cocksure leader is a liability.

Recall LifeLock CEO Todd Davis: So sure was he of his company’s identity theft protection system, Davis freely listed his social security number in television and print ads. Certainly some employees must have expressed misgivings about such a bold claim, yet Davis laid down the gauntlet. As a result, his identity was stolen thirteen times, embarrassing the company and leaving a shameful trail of fraudulent debt in his wake.

Davis assumed his confidence would carry the product. But while leaders should inspire faith, the “Reality Distortion” mindset goes a step further—even an inkling of doubt signifies weakness. This is seen in the political arena, where candidates attract slurs like “flip-flopper” over slight shifts in policy. Some contenders will stick to a line in the hope they can alter voter perceptions, no matter the risk of being caught, or the cost to their credibility.

New York gubernatorial candidate Carl Paladino is one such stubborn figure, campaigning on a “kitchen sink strategy” of persistent accusations against his opponent, Andrew Cuomo. When Paladino claimed to know of marital infidelities by Cuomo, the press asked for proof. He belligerently demurred, until eventually admitting that his allegation was hypothetical and had no substance—only to resume the lie in subsequent television appearances. For his arrogant zeal, Paladino’s prospects are on the decline. Recent polls show him trailing Cuomo, with the gap ever widening as Election Day approaches.

Leading through sheer force of overbearing will also carries a particularly undesirable side-effect: Volatility. Intimidation and abuse rank high as motivation for staff to fall in step with one’s ineffable vision, and screaming tantrums are not unheard of in these environments. Steve Jobs is himself given to rages that drive some to the verge of tears, and drive down the happiness index in Cupertino.

In his 2007 book The No Asshole Rule, author Robert Sutton deems Jobs’ effectiveness as an exception to the eponymous rule, yet acknowledges the Apple leader’s reputation for humiliating staff. Sutton otherwise promotes a prevailing wisdom that puts employee satisfaction first: Happy workers are productive and creative workers, while abuse drives up employee turnover (and potential lawsuits).

As much as budding leaders may wish to become a Jobs or Ellison, it’s not their hubris that should be emulated. Whether you attribute it to a unique confluence of factors or simply uncanny mutant powers, success didn’t come from their willfulness alone. Ultimately, they possessed intelligence and skill. Blustering may get you through the door, but ability is what builds great computers, great products and great companies.
— Alex Tuttle, Vault.com

Written by A.A. Somebody

October 20, 2010 at 8:13 am

Collaboration: The Third Habit of Effective Intrapreneurs

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This is the fourth in a series of articles that describe the unique traits of a corporate intrapreneur.

Productivity is the foundational attribute of an intrapreneur. Initiative is a required next step. Neither of these attributes necessarily results in new ideas, and new ideas are of course an essential part of innovation.

Breakthrough ideas are often generated during the third step, which is depicted below as collaboration.

Intrapreneurs are, by necessity, highly collaborative. The reason they practice Habit #2 (initiative) is because they fully recognize their need for new knowledge. They don’t know all of the problems their current (or future) customers are experiencing, and they lack comprehensive knowledge of an adjacent sphere of technology that just might light an innovative spark of how to solve a problem differently.

To overcome these limitations, intrapreneurs collaborate. Perhaps the best way to illustrate intrapreneurial collaboration is with an actual story.

The e-book Innovate With Influence describes a collaborative effort to produce an idea that translated into multiple billions of dollars of product revenue. The idea was instrumental in giving rise to the adoption of disk array technology by mid-range corporations (one notch below enterprise customers in terms of size).

The idea was originally motivated by the need to solve the most important customer requirement of an information storage system: data integrity. In the 1980s, a new technology known as RAID had arisen. RAID used mathematical techniques to re-create information from failed disk drives. If the math was wrong, the customer would receive corrupt data. Customers wanted RAID because it was faster than any disk technology previously available.

Thousands of lines of new software had to be written to implement RAID. Dozens of failure permutations could impact RAID systems.

How could this software be tested to prove that the math never failed? The intrapreneur in this case was highly productive and an expert in RAID. He had taken the initiative to understand the customer sphere. The diagram below highlights the need for an intrapreneur to find an adjacent technology and collaborate.

In this case, the adjacent technology was a very robust testing framework. This framework already verified data integrity, but it did not have a specific solution for verifying RAID disk arrays. Employees in the two technology spheres collaborated on new functionality that inserted tortuous fault events at every mathematical calculation point. This tool became internally known as the disk array qualifier (DAQ). The resulting disk array, known as CLARiiON®, achieved superior levels of quality that led to well over $12 billion of revenue generation in a 20-year period. The figure below depicts a Venn diagram of the DAQ solution.

These three circles represent the three basic habits of highly effective intrapreneurs. A highly productive employee becomes proficient in a particular expertise (in this case, RAID). The intrapreneur then takes the initiative to identify problems from the customer sphere (data integrity). Initiative spurs the search to find an applicable adjacent sphere (the test framework) and collaborate.

Collaboration between the two technologists yielded an innovative solution: the DAQ.

The next question becomes: how do you deliver upon these new ideas? The answer to this question will become apparent as we continue to work through the steps. Please consider subscribing to this blog for future updates.

Steve
http://stevetodd.typepad.com
Twitter: @SteveTodd
EMC Intrapreneur

Written by A.A. Somebody

October 18, 2010 at 2:26 pm

10 Frightening Realities of the Post-Recession Economy

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The recession ended in June 2009. Did you notice? Chances are you probably didn’t—especially if you’ve been looking for a job. The bad news: things aren’t likely to get much better any time soon; current economic growth rates mean the unemployment rate will do well to drop by much more than a single percentage point by the end of 2011.

All of that is likely to continue reshaping the employment market, and will affect everything from your ability to conduct a salary negotiation to the pace at which you can expect to climb the ladder—or even get on it in the first place.

So what’s a job seeker to do? Vault’s industry and career experts put their heads together and identified a number of key trends that will affect careerists over both the short and medium term.

1. Doing more with less

In season five of the brilliant HBO series “The Wire,” the tight-belted, high-waisted head of the fictionalized Baltimore Sun declares, upon announcing a paper-wide job cut, that “we will simply have to do more with less.” It’s a quote that could serve as a template of companies both large and small in the post-recession era. After sacking thousands of employees in order to cuts costs, pummeling employee morale in the process, managers focusing on the bottom line will be hesitant to hire more bodies in order to explore more avenues of business, even when profits begin to pick up. Instead, they’ll simply turn to their existing employees, put a cool hand on their shoulders, smile, and ask them to take on increased duties.

2. Held back by housing

The recession may have ended in June 2009, but a little over a year later, The National Association of Realtors reported sales of previously occupied homes plummeted 27 percent in July 2010, the worst showing in 15 years. So, despite the good news, unemployed job seekers struggling to pay their mortgage still have fewer options for their job search. For them, it’s either find a job where they live or accept a job elsewhere, relocate and add on the extra expense of paying rent while they wait for their home to sell.

3. Choose your education carefully

It’s a truth universally acknowledged that applications to school surge during a recession. There are no jobs, so why not get more training and make yourself a better candidate when there are jobs? Makes sense, right? In the past two years, prospective students applied to graduate schools in droves; particularly to law, business and health services degrees. While health care is one of the fastest growing industries and will likely be able to handle the influx of new graduates, the law, finance and consulting industries will not. It’s unlikely, however, that this will deter prospective students from applying this fall—and next.

4. Age diversity

An aging workforce is going to continue to be a big challenge for employers, who increasingly prefer to cut costs on training for new positions. Compounding this is the fact that people are delaying retirement because of the recession. While gender and racial discrimination will remain critical concerns, age diversity presents a new challenge for the corporate world.

5. The finance industry

Don’t let the National Bureau of Economic Research fool you. Although GDP might have hit bottom more than a year ago, and we’re technically in an expanding economy, the US still looks very recession-like to the record numbers of men and women out of work, as well as to those still employed. And nowhere does the immediate outlook worse than in finance.

Hedge funds are currently experiencing their worse year on record, collectively growing assets by a mere 1.7 percent thus far in 2010; and Merrill Lynch recently estimated that as many as 20 percent of hedge funds could shutter by the first quarter 2011. Meanwhile, following deep job cuts in 2008, investment banks started to hire again in 2009. But now with markets ice cold—and predicted to stay that way at least until 2011—firms might be significantly cutting back again. Bank of America, for one, is in the midst of 1a large job cut, reportedly sacking 5 percent of its capital markets staff, and some analysts believe that other banks, afraid of the cooling markets, if not a double dip, might not be too far behind.

6. The legal sector

In the legal sector, 2009 saw a dramatic drop in hiring—a trend that has continued into 2010, with entry-level hiring not likely to return to pre-recession levels any time soon. Law firms have adopted a variety of solutions to maintain a smaller, more efficient workforce. Many of these solutions will likely survive beyond the recession, and affect law firm infrastructure, professional development, compensation and recruitment.

In addition to cost-cutting moves like the consolidation and relocation of back-office functions, other measures include a shift from traditional lock-step salary structures toward performance-based compensation systems. Many firms now offer alternative, non-partnership career tracks or have established apprenticeships for new lawyers. On the recruiting side, behavioral interviewing techniques are gaining popularity as a means of identifying candidates who will, in the words of one law firm hiring partner, “be able to deliver client service on day one.”

7. More short term jobs

The recession might be over, but unemployment figures have remained the same. This has forced Americans to look at jobs differently, with many accepting temporary and part-time positions rather than holding out for full-time permanent work. That’s helped the underemployment rate to remain sky-high—it’s currently over 18 percent—and there are no signs of it changing anytime soon: retailers are expected to hire up to 650,000 temporary workers this holiday season.

Toys R Us is an example of a company that is going even further: it plans to open 350 temporary “Holiday Express” stores by early October, creating 1,000 temporary retail positions. Other temporary positions are expected to become available during the holiday season. But when those temporary positions end, the unemployment rate will go right back to where it was before they were created.

8. The IT consolidation trend

The initials “IT” and “M&A” already go together like cereal and milk. And with spending on hardware, software and IT services expected to hit $3.5 trillion next year, the major players in the field have lots of incentives to keep adding to their range of offerings. One way they’re doing that is by snapping up smaller firms. Recent examples include HP’s acquisition of 3Par, Intel’s purchase of McAfee and IBM’s takeover of Netezza. But while the rapid pace of consolidation might be a good thing for consumers, waves of tech professionals will likely be squeezed out of Silicon Valley just as quickly.

9. The importance of internships

Because of the shortage of jobs, landing an internship is going to be more important than ever. Despite increased competition, if you’re a college student or looking to break into a new field, they’re an integral part of your next career move.

Starting in high school, students need to cultivate paid or unpaid work experiences that build skills, character, work ethic and resume. Employers use internships to prescreen and hire talent. Your career currency comes down to the following equation: internship experience + skills. Even if only on a volunteer basis for a few hours per week—this is how you get your foot in the door and demonstrate your passion for your field of interest.

10. Negotiate a package, not a salary

While the recession has affected the number of jobs and the kind of compensation on offer, it hasn’t changed how you should approach salary negotiations. However, what you negotiate for might change. While salary increases, stock options and signing bonuses might be in shorter supply, there might be opportunities to for other types of compensation such as at-risk pay based on milestones achieved, paid time-off and a flexible work schedule.

You should value the entire package and quantify everything. How you do that is up to you. Your compensation number should factor in what is essential to you and what is non-essential. You could even give weights to the essential and the non-essential in determining the value of your offer. As an example signing bonus, relocation, 401k match, day care and base salary could get an 80 percent weight while the other 20 percent would fall under extra vacation, nicer title etc. At the end of the day, each person will be different on what they value and what they consider essential.
— The Staff of Vault.com

The Vault IT Consulting 25 is Here!

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This year, we’ve taken our consulting rankings a step further. Instead of simply listing out the top firms based on perceived prestige in the industry, we’ve gone out and asked consultants what matters most to them in choosing an employer. What they told us was that prestige alone is not a determining factor. Rather, the single most important issue when choosing a consulting firm is company culture (43 percent claimed that culture was most important!), followed by practice strength (14 percent), prestige (11 percent) and compensation (6 percent), among a few other options. We’ve taken this feedback and created a new Vault IT Consulting 25, showcasing the firms that are best to work for. This ranking was compiled using a weighted formula that reflects the issues job seekers care most about. (See below).

Don’t worry, we’ll still be releasing the all-important prestige rankings (check in next Tuesday for the big reveal!), and they do play a big role in the overall Vault IT Consulting 25 rankings. After all, a prestigious firm name puts a sheen on any resume, in addition to affording consultants access to a high caliber of clients and projects. That said, we believe that quality of life issues are at the core of a company’s appeal to job seekers. Let’s face it: In this post-recession era of recovery and growth, it’s a job seeker’s market, and job seekers are looking for a workplace that offers both prestige and an appealing lifestyle. Here’s the formula we used to compile this year’s rankings:

• 25 percent firm culture

• 25 percent work/life balance

• 20 percent compensation

• 20 percent prestige

• 5 percent overall business outlook

• 5 percent transparency

The scores for the first five categories are derived directly from the survey results; all categories except prestige are based on a firm’s own consultants’ feedback about their quality of life, whereas the prestige ranking is based on the perception of outside consultants. (Respondents were not allowed to rank their own firm in the prestige category.) The “transparency” category awards a 5 percent bonus to firms that distributed the survey to their consultants. Firms that did not distribute the survey internally received no points in this category. It is our view that, with increasing expectations of transparency and a free market for information, a company’s willingness to encourage employees to share their experiences externally correlates with a work culture where open feedback and self-criticism are valued—attributes that thousands of job seekers tell us are top priorities in searching for a new employer.

Stay tuned next week for the long-awaited prestige rankings!

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