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

[Guest-5ty5s4]

Okay, the real conclusion I think is that most people have a number and it depends heavily on how rich (or not) they are right now.

 

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[Kak]

Okay, the real conclusion I think is that most people have a number and it depends heavily on how rich (or not) they are right now.

Or how much they believe in what they’re currently doing.

 

[woken]

Okay, the real conclusion I think is that most people have a number and it depends heavily on how rich (or not) they are right now.

And that people like to portray a certain persona online.


Full of philosophers.

 

[biophase]

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.

The actual company would matter also. For example, what if it was Monsanto? What if it was Exxon? Home Depot? Amazon? My answers would be different depending on the company.

If you take a purely logical approach, even if your business is making $1m a year, you are probably taking a $5m a year offer at a company that your values align with.

Say my $1m/yr ecom company is worth about $5m. So I can sell it, cash $5m and make another $5m in 365 days? 3 years from now I’ve made $20m.

I just went from first class money to private jet money for the rest of my life.

If you are 40, and at 43 you are +$20m, that’s lifetime retirement money. Maybe if you was 60, you don’t want to give up 3 years of your life.

 

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[Andy Black]

No.

 

[Andy Black]

Okay, the real conclusion I think is that most people have a number and it depends heavily on how rich (or not) they are right now.

I refuse to spend less time with my kids now so I can spend more time with them later.

 

[liams_bad_at_biz]

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."

So true

 

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[Andy Black]

And that people like to portray a certain persona online.


Full of philosophers.

Or maybe people are telling the truth?

I’m reminded of this thread:

• MINDSET - Freedom as an entrepreneur (Amusing PM w/Freelancer)

I have zero desire to be CEO of someone else’s company doing all the work I hate doing. I like being free to pick and choose my clients, decide on a whim to change direction, and have no-one to answer to.

 

[Kak]

The actual company would matter also. For example, what if it was Monsanto? What if it was Exxon? Home Depot? Amazon? My answers would be different depending on the company.

If you take a purely logical approach, even if your business is making $1m a year, you are probably taking a $5m a year offer at a company that your values align with.

Say my $1m/yr ecom company is worth about $5m. So I can sell it, cash $5m and make another $5m in 365 days? 3 years from now I’ve made $20m.

I just went from first class money to private jet money for the rest of my life.

If you are 40, and at 43 you are +$20m, that’s lifetime retirement money. Maybe if you was 60, you don’t want to give up 3 years of your life.

Yeah of course there are going to be some companies that don’t work with your values, but it also could be an opportunity to shine some light in the darkness. After all, you are the CEO in this hypothetical scenario. The company culture and the way the business runs is becoming your call.

It’s the companies that don’t have a working model without ruining their reputation that I would have to avoid.

 

[S.Y.]

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?

But is is also often tied to securities linked to performance and that have a vesting attached to it.

I know because I have access to compensation data. That's my field.

Most here would not perform enough to get that level of payout, or won't have the endurance to withstand the scrutiny and stress.

I would not run a fortune 500 company...

 

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[MJ DeMarco]

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?

Sorry, still NO.

 

[MJ DeMarco]

A lot of posturing going on here, lol.

Would have thought this too 10 yrs ago, but not so much today.

Maybe you have different values than others, which you have extrapolated to the whole. A lot of people, even without money, don't give a shit about fast cars and big houses, the # one thing they value is their kids, followed by autonomy. If they already have both, even with a low-level business, a CEO job ain't helping.

The # thing that shocks me as a writer is to hear how many people that tell me they don't give a shit about nice cars and nice things ... they just want a high level of freedom, even if that entails a low-level amount of financial freedom.

The actual company would matter also. For example, what if it was Monsanto? What if it was Exxon? Home Depot? Amazon? My answers would be different depending on the company.

"Come be CEO at our new vegan snacks company and help us guide our vision for $15m a year!"

Still No.

(However if I was younger and had more life AHEAD of me, I'd likely consider it more heavily. I think my answer weighs heavily on my age.)

 

[Kak]

"Come be CEO at our new vegan snacks company and help us guide our vision for $15m a year!"

Still No.

This is John Galt level.

“MJ Shrugged”

 

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[MoneyDoc]

"Come be CEO at our new vegan snacks company and help us guide our vision for $15m a year!"

Still No.

(However if I was younger and had more life AHEAD of me, I'd likely consider it more heavily. I think my answer weighs heavily on my age.)

Man MJ flexing so hard on us discreetly and I LOVE IT!

MJ, I don't know you personally, but I'm genuinely happy for you. Not only are you SUPER successful as a REAL entrepreneur (not some guru getting rich off of book sales) but you also had such a BIG impact on SO MANY lives, it's praise worthy.

Some people around me always tell me, "show me what you do, so we can do it too!", "help me start a business!", "copy your business for me!" (lmao), and the ONLY thing I tell them is that they need to change their mindset and I refer them to your book. I am genuinely grateful for you.

 

[Mat79]

I would definitely take it. I'm way too far behind where I want to be in life right now and don't see any clear path forward from where I am. So yes, if someone offered me an opportunity like that, I'd jump at it. I don't care if I had to move across the country or move across the world, live in a foreign country, in the cold, or whatever, I'd do it. I'd attend boring meetings, dress up in suits (which I hate), deal with publicity and smile when I took the check home. Heck, I'd do it for a lot less than a million. I've actually been applying for jobs that pay more, but haven't managed to land one yet.

It's not my first choice to work for someone else or have to deal with a lot of stress of course, but if you have a clear opportunity to elevate your life, and help those you care about, it seems ridiculous to say no. (Assuming you don't have more desirable options close at hand.)

I understand the people who feel they already make plenty of money would say no, but for my situation, I would embrace the suck and do the job until I found something better or didn't need it anymore.

 

[David Fitz]

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.”

This is a pretty dumb comment.

Getting a job to fund your business is getting something easy like a security guard so you still have time to build your business. Getting a job as a CEO in a big company will take up most of your time, long hours and leave you exhausted with little to no time to build your business so enjoy the rest of your life being stuck in the trap.

Not sure what the gold comment is about either. If you find gold by yourself you can take it. Find gold in someone else's business and they'll want their share and leave you with hardly anything.

Seems like you have a job mentality.

 

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[heavy_industry]

It depends on where you are in life and what are your priorities. If you already have a family and kids, I would assume that you would want to spend more time with them.

But for someone young, this would be the opportunity of a lifetime. Here's why:

• a ton of money
• a ton of hands-on business experience
• a ton of networking and relationships
• back-breaking work that will turn you into the most disciplined and productive person you can be

You can quit at any time, and when you do, you will have an insane amount of money, experience, knowledge, and work ethic. Which are exactly the things required to build your own business.

It doesn't get any better than this.
You get the best education and business training course in the world, hands-on experience, and you are paid millions for it.

Nothing wrong with being employed for a short amount of time if you learn a lot from your job.

 

[maximusharrison]

No, thanks, that would be good bye and farewell to my social life!

 

[biophase]

This is a pretty dumb comment.

Getting a job to fund your business is getting something easy like a security guard so you still have time to build your business. Getting a job as a CEO in a big company will take up most of your time, long hours and leave you exhausted with little to no time to build your business so enjoy the rest of your life being stuck in the trap.

Seems like you have a job mentality.

“Hey I just got drafted into the NBA!”

“Don’t take that job. You won’t have any time to work on your fastlane business.”

 

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[Aditya Gunjal]

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."

Anything better than current situation should be favoured. I think rational thinking is required for such decisions rather than standing with ones values, situation dont occur according to our values and we have to face them no matter what our core values are. If we are making much money than most of average people, we must work more than what average people do.
"Doing what you hate before doing what you love". Your view is mostly right(wrote this after reading latter threads). Sorry but i haven't worked on anything remotely similar to job let alone a job. I do have rational thinking which tells money is necessary for day to day living (and some other expenses) and values cant be fed to mouth. I am willing to work for such job(not for lifetime,i too want freedom) but freedom has price and that price is money,
No matter the source of money.
Sir MJ taught us that job will feed the necessary money required to build a business even if we hate the job. Millions a year is far better than thousands.

 

[MexicanCreator48]

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."

Maybe, but the issue here is that you will have to work for a lot of hours sacrificing any work-life balance you have. If you have a romantic partner, you will probably not see him/her much since you would have to work extra hours.

 

[Kevin88660]

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?

The answer is yes for me, for the sheer size of income, but as you said it is properly a poorly designed question.

The sheer amount of competition for a top ceo position, statistically is much tougher than a businessman exiting with 5-8M selling his business.

Rather instead we could ask what is the “slowlane” pay cheque that you would give up for your fastlane/business pursuit. Afterall if it is big enough it becomes “fast”.

But the problem is it is far away from big enough for most people.

It is like asking would you give up the medication if you had no illness? More likely yes but so what?

 

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[Guest-5ty5s4]

Maybe, but the issue here is that you will have to work for a lot of hours sacrificing any work-life balance you have. If you have a romantic partner, you will probably not see him/her much since you would have to work extra hours.

What if you're a highly skilled person but you're in crippling debt, just lost everything, have a horrible life situation, but this job is going to use all of your skills and pay you a fortune and you don't have to work there forever? It could be a massive win. IDK, there are a lot of factors, as have been hashed and rehashed on this thread.

The question was not designed for this thread, nor can it be perfectly catch all, with everyone's life scenarios and variables in a paragraph.

 

[NickVGreen]

I would think they were mad and that reality had taken a strong "Brewster's Millions" turn...and then accept the offer.

Having grown up as a diplomat brat, I'm relatively fine with drastically changing my life circumstances (location, friends, etc.). My life is fairly comfortable now. For millions, or "just" one million a year, I'd be more than fine with doing it for a while. I'm sure I would spend some of the money to compensate for the stress, but I would be able to set aside enough to live off of within a couple of years.

It would also be a learning experience, figuring out whether I could handle that kind of work and life and making connections that I could make advantage of either for myself or any children down the line.

I would also enjoy the absurdity of it. It would make no sense to me, making it maybe the most interesting event in my life so far.

 

[Kevin88660]

For most people it is the size of the figure.

 

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[David Fitz]

“Hey I just got drafted into the NBA!”

“Don’t take that job. You won’t have any time to work on your fastlane business.”

They won't if they want to build a fastlane business instead of playing basketball but the post was about taking a job as a high paid CEO. You guys are trying anything so people will say yes to taking a high paying job because that's what you want to do.

 

[Guest-5ty5s4]

because that's what you want to do.

Not at all... In fact, this was extracted from Random Chat, and wasn't even intended to be a thread... We are all here because we are or want to become Fastlane entrepreneurs...

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

 

[David Fitz]

Not at all... In fact, this was extracted from Random Chat, and wasn't even intended to be a thread... We are all here because we are or want to become Fastlane entrepreneurs...

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

It's also a launch pad to comfort and comfort kills your dreams.

 

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[Ing]

Yes. Why? I m in an age, where I have nothing to loose by it. The best ting is, I get paid a lot learning a lot. The worst: they fire me after a week. So, well, I wanted my money up front!

 

[biophase]

They won't if they want to build a fastlane business instead of playing basketball but the post was about taking a job as a high paid CEO. You guys are trying anything so people will say yes to taking a high paying job because that's what you want to do.

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