If someone offered you a CEO job for millions, would you take it?

[thechosen1]

If someone offered you a job as CEO of a fortune 500 company making millions per year, would you take it?

I feel like if you aren't already rich, answer should be a resounding "YES!" but for those who are already financially free, answer might be "meh."

 

Don't like ads? Remove them while supporting the forum: Subscribe to Fastlane Insiders.

[Antifragile]

If someone offered you a job as CEO of a fortune 500 company making millions per year, would you take it?

No.

 

[thechosen1]

I feel like if you aren't already rich, answer should be a resounding "YES!" but for those who are already financially free, answer might be "meh."

No.

Perhaps my hypothesis was correct? No details?

 

[Antifragile]

Perhaps my hypothesis was correct? No details?

I imagine that role being very demanding on me and my family. And I’m not willing to sacrifice my time for money. In part because I make more than enough to live luxurious lifestyle and still growing my own business. My priorities are:
1. My family
2. My health
3. My business - which exist to support top 2 priorities.

I see very few Fortune 500 CEOs that I want to emulate (outside of founders who grew their companies to that level).

So… no.

But then, no one is asking me either haha! So it’s giant hypothetical! If it became a reality, maybe I’d change my mind? Who knows…

 

Don't like ads? Remove them while supporting the forum: Subscribe to Fastlane Insiders.

[Kak]

No.

Agreed.

 

[biophase]

If someone offered you a job as CEO of a fortune 500 company making millions per year, would you take it?

I feel like if you aren't already rich, answer should be a resounding "YES!" but for those who are already financially free, answer might be "meh."

I would probably do it. And the reason I’d do it is partially for the money, partially because I think I can make a difference and partially because I’m bored. People been complaining about the new leadership at the local county humane society lately. Pay is about $300k a year. If they offered it to me I’d take it in a second. But I’m also not going out of my way to apply for it.

 

[MTF]

If someone offered you a job as CEO of a fortune 500 company making millions per year, would you take it?

I feel like if you aren't already rich, answer should be a resounding "YES!" but for those who are already financially free, answer might be "meh."

No.

Lifestyle > money

 

Don't like ads? Remove them while supporting the forum: Subscribe to Fastlane Insiders.

[Mathuin]

If someone offered you a job as CEO of a fortune 500 company making millions per year, would you take it?

No

I would immediately be cancelled and lose shareholders a fortune.

 

[Black_Dragon43]

If someone offered you a job as CEO of a fortune 500 company making millions per year, would you take it?

I feel like if you aren't already rich, answer should be a resounding "YES!" but for those who are already financially free, answer might be "meh."

Depends, but probably not. A CEO is usually just a highly paid job. What it would depend on is how much freedom I’d get to actually run the show as I want to, vs how much interference and order-taking there would be from others. In addition to that, I’d need to be passionate about or find their mission meaningful, otherwise I’d probably not be interested in it.

 

[The Sandman]

Depends, but probably not. A CEO is usually just a highly paid job. What it would depend on is how much freedom I’d get to actually run the show as I want to, vs how much interference and order-taking there would be from others. In addition to that, I’d need to be passionate about or find their mission meaningful, otherwise I’d probably not be interested in it.

A "highly paid job" with a tremendous amount of authority and the punishment for failure is being paid millions of dollars to go away, usually followed by offers to do it all again at another company. Yeah they've got it rough

Hell yeah I'd do it. It'd be a heck of an experience. As well as a lot of money. Primary reasons to not do it:
1) It's an incredibly social position with a ton of politics. An introvert could find it overwhelming and exhausting.
2) The job will demand a lot of time and location demands. If you'd rather be elsewhere that's understandable.
3) Value alignment: if you don't value what the company does you shouldn't lead it.

 

Don't like ads? Remove them while supporting the forum: Subscribe to Fastlane Insiders.

[thechosen1]

A "highly paid job" with a tremendous amount of authority and the punishment for failure is

Punishment for failure is also being in the public eye, being publicly ridiculed, receiving death threats from strangers, having people put guillotines up outside your house, socialists protesting outside your house, threatening your wife and children...

Oh wait, this is the punishment for doing a good job too.

Idk, lots of trade-offs!

 

[MJ DeMarco]

Conversation extracted from the Chat thread.

My answer is HELL NO.

In fact, the answer was NO even when I didn't have millions already.

I remember being in Arizona and just getting started. Someone asked me, if I paid you $1M a year to move back to Chicago to head this firm, would you?

The answer then was NO.

Today it is F*ck NO.

There is no amount of money you can pay me to live somewhere where I don't want to live, especially in a "job."

 

[jdm667]

No, I would not take it (I do not have millions). A $50K to $100K salary keeps so many people trapped. Imagine how trapped you would feel making millions per year at a CEO job?

"I really want to pursue this other business that society needs, but I get paid millions to do this CEO job that takes up all my time and kills my soul, so - I guess I'll just keep doing it."

 

Don't like ads? Remove them while supporting the forum: Subscribe to Fastlane Insiders.

[biophase]

No, I would not take it (I do not have millions). A $50K to $100K salary keeps so many people trapped. Imagine how trapped you would feel making millions per year at a CEO job?

"I really want to pursue this other business that society needs, but I get paid millions to do this CEO job that takes up all my time and kills my soul, so - I guess I'll just keep doing it."

I’m just finding some of these answers hard to believe. Maybe if the pay was $1M, but Fortune 500 CEOs avg compensation is around $15M a year.

So none of you are getting out of bed for $1.2m a month? Guaranteed?

Do you realize that one year in this job and you have f-you money the rest of your life?

Even if your net worth is $5M, if would be hard to turn down tripling your net worth in a year.

Think about how hard it is to start and run a business and then exit for $10m? How long does that take? 3-5 or even 10 years of grinding?

And now you are guaranteed $10M in a single year whether you do good or not. How do you turn this down?

Oh but you have no freedom. One year of hard work vs 3-5 years? Which choice is the one that’s really the sacrificing your time here?

 

[thechosen1]

I would say yes. I have a job right now, and a seed of a fastlane business on the side, and the beginning of some real estate investments as well. I'm not rich, just on my way. If I had the chance to make millions in a different job, I'd pack up my bags and move in a heartbeat. Hell, I'd probably sell everything and go do it.

Would I do the CEO job forever? Maybe if I liked it. But I'd probably just plan to grind it out for a certain number of years, get the company running top notch, and find the next person to run it.

In my opinion, a job like that is like its own fastlane... like one of those Elaine Pofeldt "million dollar one person businesses" - you know, the onepreneur jobs.

 

[Kak]

I would say yes.

Now I know why you were surprised when I turned down that offer a few months ago.

Jobs can teach and pay a lot, but you can’t sell a job, or give it to your kids. You don’t own it, it owns you.

 

Don't like ads? Remove them while supporting the forum: Subscribe to Fastlane Insiders.

[thechosen1]

Now I know why you were surprised when I turned down that offer a few months ago.

Jobs can teach and pay a lot, but you can’t sell a job, or give it to your kids. You don’t own it, it owns you.

Yes but if you are paid $10 million per year, you can funnel that into assets that you can give your kids.

Of course, the kind of person with this level of job could probably start a company that's pretty huge, so there's that. It's all hypothetical

 

[MoneyDoc]

Lol I understand if MJ, Kyle, Kenric, or AntiFragile, wouldn't accept this role, but if you're currently working a 9-5 and you're saying no, you're kinda painting a false illusion of someone you're not...

I would understand if money doesn't mean anything to you, but if it DOES, you're blatantly lying and I find that a bit odd (if you have a 9-5) because you either think a "job" on this forum means you're a loser (which is 100% NOT the case), or you're trying to fit in.

Interesting thought experiment.

 

[Red]

I’m just finding some of these answers hard to believe.

This. A lot of posturing going on here, lol.

I would probably take it. I would then retire my husband, build our 2nd home in Colorado & then go about my plans that are currently in place. Nothing would change but a year hiatus fulfilling that CEO role that would set me up for the foreseeable future & I'm down for that more than likely.

 

Don't like ads? Remove them while supporting the forum: Subscribe to Fastlane Insiders.

[fastlane_dad]

There's so many variables to this it's not a 'yes I'd take it' or 'Yes I wouldn't'. To me this is on the parallel lines of asking if you'd sit in jail for X amount of time for X amount of dollars. Sure there are some that would possibly take that or consider it, but it's NOT an easy question to answer or decision to make.

I don't think it's very easy to answer this question for anyone honestly, unless we get into long form discussion, laying out all that it involves - AND actually offering the position of CEO.

There are MANY times in my life I turned down more money, or the HUNT for more money because I knew all of which was involved in it.

Sometimes more MONEY could involve more responsibility, or travel, or time away from family dinners or having employees under your belt. All of these points I'd have to SERIOUSLY ponder, no matter the sum and what the 'job' entails.

Yes - money is important in ALL of our lives, to one extent or another, but answering a one liner such as this is virtually impossible until the offer is on the table in front of our faces and we're signing on the line.

A job as a 'fortune 500' ceo is EXTREMELY grueling mentally, emotionally and physically. You are in the spotlight ALL the time. You are working 80 HOUR+ weeks. You are countlessly shaking hands, networking and making decisions that will impact the rest of the company strongly, etc.

H3LL NO for me before, and H3LL NO SQUARED for me now.

------------------------------------------------------------------

QUICK STORY and personal example!

After I completed my undergraduate studies - I took an engineering job for roughly 15-20% LESS then current average annual pay for the position that I had.

I was more then thrilled to be getting paid less at that time, as the position was not overly demanding, there was zero travel, and I had weekends and evenings all to myself to spend however I wanted. That led to opening up time and opportunity to creating my first cash-flow business on the side (that eventually several years and iterations later turned into a FASTLANE business My Fastlane Exit )

I had more then enough money off my job at the time to upkeep a cushy lifestyle while saving a ton (still living with parents then) - but enjoyed the extra freedom I had of not needing to be always 'extra' all around for my boss or as an employee.

 

[Johnny boy]

Your job isn't to be busy, your job isn't to even make most of the decisions, your job is to deal with equity deals. M&A, strategy, delegation, etc. You aren't a manager. You aren't even the managers' managers' manager. You aren't even the captain of the ship. You are the captains boss, who calls in and makes sure the captain is being a good captain while you're negotiating doing a merger with another ship.

You can make millions, spend little time in the office, make a few good decisions and have an awesome life.

It doesn't necessarily have to be demanding. Now, it might look bad to the board if you're out on Lake Como for 25 weeks of the year...but if you are helping the company do well by making good decisions, you are doing your job.

 

[woken]

Setting aside the fact that nobody here is qualified for the job and the opportunity won’t happen anyway, I agree with @biophase .

Everybody has a price. 1 year of running a company, getting 15M in the process + experience + connections and you say No?

What are you, a brick?

 

Don't like ads? Remove them while supporting the forum: Subscribe to Fastlane Insiders.

[GPM]

Yes I would take it. Sure it would be demanding and a serious all-consuming time role, but think of the connections you would make.

I love oil and gas. If I could head an oil and gas firm, and rub shoulders with all the other oil and gas executives, you don't think I could take those relationships and experiences with me to my own venture once my tenure is done??

@Kak imagine what could be done coming into talks with chemical guys with experience being the freaking CEO of a big oil and gas firm, vs. just some small potatoes guy with a few mid level contacts?

Would I sacrifice a few years to do that? Absolutely. It would be a STEP on the journey, not the final destination. I also love being with my family too much every day, there is no way in hell I would give that up for any serious length of time. Plus as CEO I would be taking my kids to the meetings with me to learn. Got a problem with that? Shut your trap and get outta here.

 

[David Fitz]

No.

The whole point of living this life is to create my own thing and answer to nobody apart from the tax man.

 

[woken]

No.

The whole point of living this life is to create my own thing and answer to nobody apart from the tax man.

Sure. =)

I’m always amazed how some guys are ‘devouring’ MJ’s books yet they skip the “get a job as a way to bootstrap your business” part. LOL


Also,

this is the same as saying “If I found 1 Tonne of gold on the street, I wouldn’t take it, because it’s heavy and my back would hurt.”

 

Don't like ads? Remove them while supporting the forum: Subscribe to Fastlane Insiders.

[Rabby]

If I wanted the job, I would already be pursuing it. I'm not, which means I don't want it. Therefore, I would turn it down.

Also, anything that involving the following list of misfortunes is a hard no:

• Attending more than one business meeting per month
• Being part of a publicity campaign
• Proximity to cubicles or similar torture devices
• Listening to people who don't know what's going on try to explain what's going on

Can't say for sure, but I suspect that rules out most of the Fortune 500 CEO positions.

 

[Rabby]

Setting aside the fact that nobody here is qualified for the job and the opportunity won’t happen anyway, I agree with @biophase .

Everybody has a price. 1 year of running a company, getting 15M in the process + experience + connections and you say No?

What are you, a brick?

Some people here are qualified for the job.

 

[thechosen1]

Some people here are qualified for the job.

I agree, that's why I asked. I know a little bit about a few of you who'd fit the bill.

 

Don't like ads? Remove them while supporting the forum: Subscribe to Fastlane Insiders.

[fastlane_dad]

If I wanted the job, I would already be pursuing it. I'm not, which means I don't want it. Therefore, I would turn it down.

Also, anything that involving the following list of misfortunes is a hard no:

• Attending more than one business meeting per month
• Being part of a publicity campaign
• Proximity to cubicles or similar torture devices
• Listening to people who don't know what's going on try to explain what's going on

Can't say for sure, but I suspect that rules out most of the Fortune 500 CEO positions.

Well said !!

 

[Kak]

To be fair on this discussion, it’s not just accepting a job for pay that you’re happy with. It’s also exiting all of what you currently have going on. You can’t realistically be the CEO or upper exec of a major company and also run your own stuff anymore.

So you have to sell, or turn it over, or quit.

If I had nothing else going on, sure I’d take it. The problem is many of us believe in what we are currently doing to a greater extent than a really good, but linear job opportunity.

To @biophase point, yes, I’d figure it out for the real deal $20m a year with stock options, CEO of a giant company, position.

The hypothetical awesome job paying $1-3m where you still have a boss and have to live the corporate life? Meh, that’s not exciting enough to totally uproot my life and all my projects.