Many leaders misprice career risk. They calibrate using instincts built early in their careers, when making a career mistake could be existential.
I remember this reality. I started at Lazard with no Wall Street connections, no family in New York, and a salary that left no margin for error. My career lived or died by what a few senior bankers thought of me. 100-hour weeks and getting yelled at regularly were the norm. One analyst I knew died on the job from exhaustion — a terrible reminder of how real the pressure to perform felt in those early years.
It taught me what real career risk actually feels like.
My career progressed to more elite firms and much higher stakes, even having to sue two billionaires along the way. Yet while each move felt riskier than the last, the moves actually became less risky over time. I had more savings, more skills, and more reputation to fall back on.
My risk exposure shrank but my perception of risk grew.
But perceived risk and actual risk are different things. Early in life, career risk means losing your job and not paying the rent. Today, it means losing money, opportunity, and reputation — painful, but very different.
I see this sometimes with CEOs who emotionally over-index to risks that, while real, aren’t existential. The result is often delayed decision-making:
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Not firing a C-level who isn’t right for the next phase
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Delaying delegation of a major project because losing control feels dangerous
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Avoiding important customer feedback because the product may not be ready
Do career risks exist at a senior level? Of course. The question is whether you’re assessing those risks correctly — or if yesterday’s fear is making today’s decisions.
warmly,
Navin
P.S. For my men’s retreat in May, potential attendees often overprice the risk of missing one day of work — and vastly underprice the risk of never working on themselves.
