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

[biophase]

It's not rocket science that a job that pays you millions is a pretty nice launchpad to your entrepreneurial journey.

I think most people are ignoring the fact that you don’t need a fastlane opportunity if you take a job that pays you equal to if not more than what you’d ever make at your future fastlane opportunity.

MJ said that a salary can be the “massive scale” in your CENTS.

 

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[Guest-5ty5s4]

I think most people are ignoring the fact that you don’t need a fastlane opportunity if you take a job that pays you equal to if not more than what you’d ever make at your future fastlane opportunity.

MJ said that a salary can be the “massive scale” in your CENTS.

Very true, thank you. If you made millions as a Wall Street executive for just a few years and then invested most of it, you’re still looking at the same amount as someone with a fastlane exit.

Now are you going to get this job in your 20’s? Good luck. But if you get the offer? It would be crazy to say no if you’re young and broke

 

[David Fitz]

Aren’t a high paid CEO and an NBA player both employees?

Yes.

 

[BizyDad]

This is tough. Good thought experiment and good thread. Thanks @thechosen1 for posing the question. Several comments have swayed me one way or another.

For me, it comes down to a couple of things.

How high profile is the gig? The more high profile, the more demands on me. Which, as Andy said, takes me away from my kids.

Now maybe I'd be willing to sacrifice a year to set them up nicely. But since I am currently undecided if I'm even going to leave a lot of money to my kids, (I mean they're young, and I don't know how responsible they will be. God forbid one of my kids ended up being a drug addict, I don't want to leave them a dime) so I don't know that "generational money" is what I'm after anyways. Maybe 15 mil isn't generational money, but what I could do with 15 mil at my age would be. I have to admit it would be a spring board.

Putting aside the issue of wealth and my children and how this impacts them, the other big drawback is that I don't feel that I am qualified to run most of the Fortune 500 companies. Therefore, I'm setting myself up to fail. I don't want to fail at this.

I'm not afraid of failure. But I'm also not trying out for an NBA team. It's that I have no shot, and I don't want to deal with the day to day of living with imposter syndrome. Faking my way to an extra $15M doesn't sound good to me. I would feel like a con artist, and I don't want to feel like a con artist. The stress of my day to day lying and fakery might kill me. I don't know the first thing about L'Oreal. My first interview on CNBC with tank the stock price. Fml.

This would likely be the highest profile thing I would do in my life, and even if I had more impact, I don't seek out high profile stuff. So one year failure of XYZ company is what I would be known for. It's what would go on my Wikipedia page.

Of course, I probably won't have a Wikipedia page if I don't say yes.

I don't know how important any of those things are to me. Right now, I enjoy my life. I am at least 80% happy with 90% of the goings on in my life. Do I need more? No. Do I want more? Yes. Will being a fortune 500 CEO help me achieve my goals? Maybe.

I think my ultimate answer is, it depends on what company we're talking about. If I've got a shot at running it well, I'd probably take it. But there are maybe 10 out of the 500 that I would have that shot. Maybe. If I think I'm a one year and done kind of CEO, I'll stick with the life I've got. It's a good life.

On a side note, did you know Woolworths is #159? I thought they died before I was 10.

 

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[Lex DeVille]

I'd take the job and rebrand like Radioshack...

 

[Guest-5ty5s4]

I'd take the job and rebrand like Radioshack...
View attachment 44481

Okay, tai.

 

[ElDiablo]

Hello everyone.

I can see quite a debate in here. However, there's one crucial aspect that people are overlooking, and that is that even getting offered the position of CEO at a Fortune 500 company entails a hard process in the making of several years; if not several decades.

Beware that I'm not glorifying an extremely well paid job with even more extreme benefits, but rather stating that getting the offer for such a position is just an event. We're simplifying the fact that in order to get there, you first needed several factors in your favor.

Just to name a few, you first have to show both extensive experience and proficiency in business and business management. That alone is something that take several years at a bare minimum.

In addition, you have to be intimately connected to people with higher socioeconomic status; something that goes beyond being good at what you do.

And third, the type of "formal qualifications" that make entrepreneurs quit the corporate ladder in the first place. I'm talking about having at least an MBA at a top 10 university, plus all kinds of certifications and training. And if we add up that nowadays is almost a must to hop between companies to actually grow professionally, you have the perfect cocktail of the opposite of what an entrepreneur is looking for in the long run.

And finally, as some of you have pointed out, just to be even considered for the offer you have to be a certain age (50+) where people can assume that you have invested time and money in all of the above.

The only exceptions that come to mind are founders that are also CEO's which circles back to the Fastlane.

In overall, I'd argue that becoming CEO at a Fortune 500 company from scratch is just slightly easier than having a great exit as an entrepreneur. Both paths involve a long and hard processes if we are talking in a realistic sense.

Those are my 2 cents.

Please let me know if I'm also overlooking something

 

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[fastlane_dad]

This just struck me ---

Another way to think about this question is three prong

1 - As an idea of servitude (will you sit in Jail for 10 Million dollars for a year)
2 - As an idea of a Windfall / Lottery / Jackpot (Do you want 10 million for doing nothing )
3 - As some blend of work / reward that you did not fully earn (Do you want to do a 'Job' that typically takes a LOT of process to get to, but you shortcut that process and receive $10MIL a year for doing that job)

Generally, on most occasions - I am against ALL three scenarios. Sure my age / position in life can dictate some of these ponderings - but generally I am not all for a handout, especially when you are a YOUNG person without much experience, confidence or wisdom under your belt.

The truth is that the question and the answer is a combination of all three of these questions.

I'm not for doing something I don't want to do (especially now more so then ever). If I'd want the position of CEO for XX MIL/year I'd actively be working towards that.

I'm not looking for a windfall (financial) for doing nothing.

AND definitely not looking for getting a title or position that I did not dig through the trenches for doing and reaching myself (robbing me of the 'process').

MUCH of the reward that came to me building up a fastlane business is the confidence, skills, connections, emotional resilience and mindset that has been acquired - with the financial benefit a giant plus.

SURE a financial windfall CAN benefit many / all scenarios - but there is so much on the back end to account for that's unspoken here that would require and entail a lot of discussion before any sort of answer is given.

 

[Jon822]

In my current situation, I would have to say yes. I am currently in a 9-5 job and if the Fastlane is a literal lane on the highway (as opposed to walking, bicycling, etc.), then am I still opening the garage door. Fortune 500 CEOs easily make at least $1m per month so to say no because it is a "job" is ridiculous. The only way I would say no is if I was already wealthy or my current business was yielding a trajectory toward financial freedom. In the latter scenario, I would be trading the guaranteed CEO money for the freedom from job constraints and the ability to work on something of my own. Assuming you make $12m per year as CEO and 80 hours per week, you'd be getting paid about $2884.62/hr. You'd have to be already rich or near the end of the Fastlane to achieve this kind of number.

 

[FIFL]

In my career I have worked alongside CEO's of decent sized private companies (mid 8 figure up to 9 figure businesses), as well as with a local/regional CEO of a very large public software company (the parent is fortune 500) (regional business is >$1bn). Most are employees with stock etc, others are founders. They're all incredibly stressed out and have no balance in their lives.

The employee CEOs are more stressed from a lack of control and their neck being on the chopping block with the next bad quarter or financial year.

The founders are more stressed from having everything on the line, managing a board and keeping investors happy (slowly losing control of ownership). Worth pointing out these are businesses that have VC money involved so it's different to what we normally try to build here.

These guys all barely see their families, have often had divorces, and their physical health goes to shit. The look grey, overweight and seem miserable.

Have any of those here answering YES actually seen up close what this life would be like?

Also, probably worth pointing out that without experience and track record you'd last about a month and then your reputation would be destroyed forever once people worked out you don't know what you're doing.

I've also worked with CEOs of smaller businesses, and they seem a LOT happier.

 

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[John TenBrink]

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."

Not enough detail to provide a solid answer. But, I know from experience that high pay demands higher expectations...stress, hours, politics, less family time, no work-life balance, etc. The job was killing me inside and out.

If I had to go through that experience again, my answer would be a resounding "NO"!

 

[Hong_Kong]

This would likely be the highest profile thing I would do in my life, and even if I had more impact, I don't seek out high profile stuff. So one year failure of XYZ company is what I would be known for. It's what would go on my Wikipedia page.

Of course, I probably won't have a Wikipedia page if I don't say yes.

I would say no for this reason. I don't want to be known I would rather remain private and enjoy my time. There are people that own massive private companies that get very little publicity because there are little public details. Taking a high profile salary job, with tons of public disclosures sounds not good.

 

[Rex Wee]

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 do it for one year.

 

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[Jadus]

Absolutely! I'd work it for a year and if I survive, resign and take the money and run!

 

[DarkZero]

I think it's too easy to overthink the question.

First it's "how much money will I make?"
Then it's "how many hours will I work?"
And then it's "what about the lifestyle"
And "what about experience"

People should forget about the specifics. This is strictly hypothetical to group the CEO salary + lifestyle and it's simply asking if you want that package deal versus doing your own thing.

I think if we generalize the question to say you'll have the typical CEO lifestyle of working many hours in a week to get the fortune 500 salary of 8 figures take home annually, people don't need to think past that.

It really comes down to, will you utilize that money in some way? Will you leave after X number of years to do your own thing or leverage that network?

Not even talking about the success rates of CEOs. Because we're all on this forum, it would be a tough thing for us to accept it, mainly due to lifestyle design. That's why some of us would only take it for a year in the role and then leave just to collect the comp plan.

Personally, I would consider it for the right company that I would enjoy the process of steering the ship. But strictly for compensation, no.

 

[Levit]

I would have to say it depends. If I'm at the start of my journey and I haven't gotten a business off of the ground yet, then hell yeah I'm going to take it. It doesn't mean I'm compromising on my values, I can do it for 6 months then quit with a lot more freedom and startup capital than I had before. The only thing is you'd have to be very careful not to upgrade your lifestyle while getting that pay cheque.

On the other hand, if I already was in the middle of growing a business, even if it didn't pay anywhere near that at the time, then hell no I wouldn't take it.

I think if you're not lucky enough to start out with money or able to live with your parents for a long time, then you realise that having a job for a time can be a necessary evil while you build something on the side and/or get enough runway money to quit and go fulltime on the business.

 

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[Antifragile]

The irony of someone saying “I would do it and so should you because you would make all this money guaranteed“ is that mindset is what will prevent you from getting the offer.

Even a young person, with no experience, if accidentally offered such a job must feel the responsibility of doing well. Imagine you are in your 20s and you get the job, a year later you are the laughing stock of the business community. Books are written about the dumbass who was so useless, politicians started to look useful in comparison.

That should bother you. Not all money earned is the same. Some of you will say “but you shouldn’t care what others think about you” and I agree, but I do care what I think about myself.

I don’t want a job where I know I’ll fail.

Compare this to being in the NBA by some fluke or weird ”lucky” connection. Now you are on the starting line. I guarantee you are not thinking “but I’ll have $10M extra after this year”. You’ll be thinking “get me out of this, I cannot stand the way I am failing here and all those commentators are making fun of me and they are right”.

Just another way to look at it. It’s not just the money.

 

[Bouncing Soul]

I think the thought experiment is a good one, but I have some close personal experience with execs and athletes and entrepreneurship and I think the individual personalities and situations and resultant individual agency of the high performers has more impact than is being discussed here.

Would I take a million dollar job? It depends!

 

[Andy Black]

The irony of someone saying “I would do it and so should you because you would make all this money guaranteed“ is that mindset is what will prevent you from getting the offer.

Even a young person, with no experience, if accidentally offered such a job must feel the responsibility of doing well. Imagine you are in your 20s and you get the job, a year later you are the laughing stock of the business community. Books are written about the dumbass who was so useless, politicians started to look useful in comparison.

That should bother you. Not all money earned is the same. Some of you will say “but you shouldn’t care what others think about you” and I agree, but I do care what I think about myself.

I don’t want a job where I know I’ll fail.

Compare this to being in the NBA by some fluke or weird ”lucky” connection. Now you are on the starting line. I guarantee you are not thinking “but I’ll have $10M extra after this year”. You’ll be thinking “get me out of this, I cannot stand the way I am failing here and all those commentators are making fun of me and they are right”.

Just another way to look at it. It’s not just the money.

My thoughts exactly.

It's not just that I'm not prepared to increase my hours and stress. I've never been a CEO of a large company and have no desire to be. I doubt I'll do a great job improving the lives of customers, employees, and share holders. I'd be a complete imposter.

 

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[NeoDialectic]

In general, I would be hard pressed to say yes to most things I don't want to do atleast on some level. I don't need more money and wouldn't do it just for the money.

However.

There seems to be 3 factors that make this into a solid Maybe for me

1. Being CEO of a fortune 500 is hard work in alot of ways that I respect. I imagine it could be a huge instigator of personal growth.
2. Being CEO of a fortune 500 has many more benefits than just pay and personal growth (social, respect, networking, etc)
3. 15 Million is A LOT of money and can elevate the lifestyle even more of most rich people or add to your family dynasty.

I dont super care for any of these things on their own, but I am casually interested a little in all 3. Combine that and you may have peaked my interest.

 

[Lethabo]

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."

For the exposure I'll take it

 

[GoldenSummer]

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."

Many men focus on increasing their "passive income" but instead they should focus on their active income.

Maybe is just for me but I would rather choose to make 100mil/mill being a CEO, than 10k a month "passive income"

 

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[SPM_ENT]

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."

100% Yes.... depending on the company.

If I could run a company in an industry that I was interested in which already has a massive reach and influence and I could use it as a platform to adapt, improve and insert my ideas to achieve a positive change then, Yes. It sounds like a lot of fun to me. I already work a lot of hours on my current business because I love what I'm doing. Take that same feeling and insert myself at a higher level, my answer is yes. Now is that possible? Am I naive? Most likely but in this made-up scenario, I'd be willing to take on the challenge to find out.

Also, no one is asking me to do this because I don't have the skills to be at that level.

Currently working on a company I believe I can exit for 50m.

 

[Rabby]

Many men focus on increasing their "passive income" but instead they should focus on their active income.

Maybe is just for me but I would rather choose to make 100mil/mill being a CEO, than 10k a month "passive income"

But in reality the two things go hand in hand. Nobody makes 100 million by flipping sofas on craigslist one at a time. They do it by freeing up their personal time and maximizing the leverage on their unique skills and resources. They are in effect making most of their income passive (it's happening while they sleep, or walk the dog), but still choosing to work full-time to increase the asset(s). Nothing wrong with either choice really (being content with a moderate passive income or shooting for the moon), it just depends on how much you want and when, and what you need to spend your time on at a particular point in your life.