Anyone who has been thinking about becoming a mortgage loan officer in New York in 2014 should be taking action now instead of waiting any longer. Right now is a great time to work in mortgage banking, but there are certain federal and state-level requirements that prospective loan officers must be aware of. First of all, future loan officers need to understand why this is a great time to enter the mortgage origination market. Related:6 Signs You’re On The Wrong Career Path The housing and residential mortgage markets in the United States suffered a period of great downturn during the Great American Recession and the global financial crisis. It took the Federal Reserve considerable effort to stimulate the housing economy, and the first glimpse of a real recovery arrived in late 2012. After years of mortgage loan modifications and refinancing activity thanks to government initiatives such as the Home Affordable Modification Program (HAMP) and others, the 2013 mortgage market actually expanded to include home purchases. The bottom line is this: Americans are once again buying home and the housing economy is growing and adding jobs. This is happening in the Empire State and across the U.S. This is good news for mortgage loan officers who stand to earn quite a bit of money in 2014 and beyond. This is how to get started:
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It's that golden moment, the one you always dream about. The moment your boss offers you a raise, and you didn't have to ask for it! It doesn't happen often unless you have something in your contract that stipulates your pay increases, or some other sort of mandated pay raise. However, for the majority, an impromptu raise is just a dream.
There are no promises to be made here. Many raises, even those you ask for, depend on a variety of factors. You have control over whether or not you deserve a raise, but not always over getting one.
Luckily, there are some things you can do that will push you closer to getting a raise, whether you ask for one or not:
1. Bring In New Business
It doesn't matter if you're in sales or not. If the company you work for isn't able to bring in new business, they aren't going to grow, and they won't be able to afford to give you a raise.
In today's business world, everyone is in sales. You are a business-of-one. You have to sell yourself, your company, your skills, and your products. If you aren't a salesperson, you may not have the know-how to follow a sale through to the end, but you can still bring in business.
For example, just because I was an accountant at Dr. Snooze mattress company doesn't mean I had less of a chance to get a raise than the people on the sales floor. I'd still get leads and find new accounts. I used excellent customer service to ensure other companies kept coming back to do business with us.
Start looking for ways to bring in new business and you'll be amazed at what you can learn.
2. Become An Expert (On Something)
This "something" should be related to your field, obviously. There's no point in learning everything there is to know about QuickBooks if you work as an account supervisor. Sure, it might occasionally come in handy, but the goal is to become a go-to person on a topic.
If someone has questions about an account, they should be coming to you, and you need to be able to answer them. It's even more impressive if you can reach out before they even realize there's an issue. Not only does that mean that you increase your customer retention, but your clients will remember that and recommend you.
3. Find A Mentor
Not just any mentor. Do what you can to ensure that the mentor you choose is someone you would like to model your career after.
In today's marketplace, having a mentor that's a little bit old-fashioned (or at least respected in the industry) might be a great way to distinguish yourself. After all, careers now last about 4-5 years, instead of 40-50. You need to be on-call 24/7, but that doesn't leave you any time for a life. A mentor can help you work through the kinks and can help you to pave a path that others want to follow.
With guidance from a mentor, you'll stand out from other employees on the job, and could be next in line to get a raise.
4. Make Your Boss Look Good
There is nothing that will make your boss love you more than if you make them look good. After all, they'd probably like a raise just as much as you would, so it makes sense that they need you on their team. Stepping on their toes and making them look like they don't know what their doing isn't going to win you any favors.
When I was working at McElroy Metal, this tactic worked perfectly for me. I gave my supervisor all the credit for a huge sale I made, and he quickly became a favorite with the owner. When it was time for him to give promotions, I was the first one to be recommended.
5. Become Irreplaceable
The thing is, once you've made yourself irreplaceable, you can ask for pretty much whatever you want (within reason, of course). Becoming an indispensable employee involves doing what you're supposed to, plus everything listed, and then a little bit more.
After all, people who make themselves exceptional stand out for a reason. Having the perception that losing you would decrease productivity around the office and cost them money means that job security is locked in tight, and your boss will want to fight to keep you.
There is no way to promise that you'll get a raise. Much of it has to do with things you have no control over—the company's current standing, when a promotion becomes available, or the overall economics of the country.
Even if that can't be guaranteed, however, you can drastically increase your chances of getting a raise—whether you ask for one or not.
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This article was originally published at an earlier date.
Like most professions in the post-pandemic world, project management has undergone yet another conceptual transformation while also redefining how the projects of the future will be managed with the release of the 2022 PMI Talent Triangle.
Keeping up with these new trends will be crucial for a project manager’s success while also sounding a warning bell for companies who wish to attract top talent to manage their increasingly complex projects in a hyper-competitive landscape.
What’s New: The 2022 PMI Talent Triangle
Let’s face it: managing projects has never been an easy task and many of us have oftentimes felt frustrated with the limited roles yet high levels of responsibilities placed on project managers. The American comedian, Rodney Dangerfield, so eloquently coined the expression, “I can’t get no respect!” and I am quite sure that many PMs can identify very well with this statement in our misunderstood profession.
Since the advent of the project management profession in the late 1960s, the general expectation has been that project managers are everything to everyone on a project, even though the role was often considered a purely operational one (basically managing the “schedule”), with the relevant activities starting once the project award was received from the customer.
Despite this limited official level of official responsibility, the very success of the project always rested on the PM’s shoulders, hence a significant source of frustration and misalignment.
In May 2022, the Project Management Institute (PMI) finally confirmed what many of us had been preaching since the late 1990s in their release of the updated PMI Talent Triangle:
Project Managers are, in fact, business owners who need to adapt ways of working and strong business acumen to manage their projects in our increasingly complex, changing world.
This is definitely a game-changing initiative, but also a much-needed one to set companies up for better success on their customer-facing and also internal projects. It also now forces PMs to develop crisper, more well-rounded skills to be able to achieve these lofty aspirations.
Applying The 2022 PMI Talent Triangle: Ways Of Working
The previous traditional and agile schools of thought have now evolved into a very extensive toolbox that allows PMs more flexibility when managing their projects.
It also now creates the expectation that project managers must “master as many ways of working as they can—so they can apply the right technique at the right time, delivering winning results.”
This is both exciting and challenging to apply in larger companies that must possess (or develop) a greater degree of organizational ambidexterity to survive in the long term.
Among these new tools are design thinking, transformation, data modeling, and performance management, just to name a few. These tools complement the PMBoK (Project Management Body of Knowledge) and now offer an incredibly diverse array of techniques that PMs can use to manage their projects.
Too many choices? Information overload?
So how can PMs determine the best working method for each project when there is so little time between the commercial phase and project award? For me, this is one of the primary reasons that project managers MUST be engaged even prior to the bid preparation so as to analyze the full scope and strategic importance of each project.
In this way, the work breakdown structure, or WBS (i.e., the nucleus of the project), can be customized to cover only what needs to be bid and executed. This also allows for better identification and alignment of organizational assets to be used on the project.
This is why strategic meetings with the key decision-makers and stakeholders must be held as early as possible, even at the prospect identification phase. The adept PM will develop a questionnaire to steer the conversation and arrive at the “best way” to structure both the commercial proposal and execution plan.
Applying The 2022 PMI Talent Triangle: Power Skills
As I have mentioned in previous articles, communication is THE most important skill for a project manager and this new pillar emphasizes an increasingly collaborative approach to leadership, to foster innovation, empathy, and ownership.
In this way, The PM empowers their team with the aim of more effective stakeholder management, now at all levels of the project, to drive change and meet project goals.
By using techniques such as neuroscience, business psychology, emotional intelligence, and brainstorming sessions, PMs of the future will be able to develop a more empathetic, humanistic approach to understanding the challenges of managing their projects as well as the needs of the ever-wider range of stakeholders to be managed.
Let’s not forget that projects are still managed by people, so understanding the human psyche, cultural differences, intergenerational preferences, and historical perspectives are major inputs that affect team performance.
We also cannot ignore global trends such as diversity and inclusion, climate change, and other geopolitical events which shape our behaviors, policies, and actions. They also challenge the PM to be an extremely adaptable, active listener.
These techniques should be on every PM's mind while conducting meetings, planning work, and interfacing with stakeholders. I find this to be very powerful in fostering creative, innovative approaches to solving problems, one of the project manager’s main functions.
As an example, I promote a cultural minute at the onset of select meetings to give team members an opportunity to share specific topics of interest. These can then be woven into the main topic of the meeting, or even specific parts of the project to enhance team engagement.
Finally, I believe this increased interpersonal skillset is quite effective in driving coaching, mentoring, and training across the project management spectrum for we all know the current challenges of retaining and attracting top talent!
Applying The 2022 PMI Talent Triangle: Business Acumen
From a purely operational focus to a new business owner mentality, PMs now need to understand the “macro and micro influences in their organization and industry and have the function-specific or domain-specific knowledge to make good decisions.”
I particularly love this pillar of the new PMI Talent Triangle because it really elevates the standing of the PM within an organization, while challenging the functional managers to up their games to support the key projects and initiatives of the company.
It does challenge the PM to now do their homework so that they really understand:
- The business context of the project (organizational goals, strategy)
- The key market drivers (regulatory, currency, geopolitical)
- The competitive landscape (important during execution as well)
- What success looks like (sustainability, corporate image)
- Potential gaps to execute the work (CAPEX, OPEX, skills)
Instead of only being involved after project award, this now means early involvement of the PM during the commercial, pre-award phases of the project in order to develop better relationships with customers (and other key stakeholders), while evaluating project requirements to ensure that the project team will be able to actually execute what is being promised.
The value that a project manager brings to an organization can truly be leveraged as organizations are now seeing just how much influence a PM has throughout the project.
For example, during the execution of a project, the adept PM who applies business development or customer service techniques can gauge not only the level of customer satisfaction at any given point in time (rather than only at the end) but can also find out about competitors’ performance, opportunities to upsell by becoming aware of new project scope, other customer projects, as well as a whole host of opportunities that could arise, including innovation to respond to future trends/needs.
It also better prepares the PM during management of change (MOC) or variation order negotiations as they will have a much clearer understanding of how the original scope of the project was negotiated, thus providing important insight as to customer psychology, main decision-makers, etc. This then leads to a more consistent customer experience not to mention more sales!
I for one am extremely motivated by the release of the 2022 PMI Talent Triangle as I feel like it has finally given project managers validation in our mission to show just how much value we bring to an organization. It also keeps us relevant by responding to megatrends while providing us with a very complete toolbox to adapt our project management techniques so that we do not overkill or underkill our projects. It does challenge us to redefine what it means to be a project manager while also giving us that ever-so-important seat at the executive table.