Business

Why you should get out of your comfort zone

Kathleen Murphy
President of Personal Investing, Fidelity Investments

Despite performing very well in school – whether it was high school, college or law school – I never really knew what I wanted to be when I grew up. I always worked hard and expected much of myself. But to what end? I wasn’t quite sure. And oddly enough, that helped me along the way.

It turns out that some of the most important decisions I’ve made in my career were pivots that took me out of my comfort zone. Each step was progress along a path that broadened my horizons and positioned me for my next role. And whether it was due to luck, fear, smarts, or a combo of the three – I sought out and received career advice from people I really respected. In my case, they helped a strong-willed young lawyer see broader possibilities and unexpected opportunities.
Here are some examples of pivots I’ve made in my career. They just might help you as you think about your career development.

1) An interview at Dress Barn launched my career. I graduated from college in three years (as one of six kids, I was motivated by avoiding a fourth year of tuition). That third year of college arrived quickly and forced me to figure out what to do next. I signed up for a wide range of on-campus interviews to help narrow down the possibilities, including one at Dress Barn for a store manager position. Hard to believe, but it was a life-changing moment. I still didn’t know what I wanted to be when I grew up, but I realized then-and-there to trust my instincts and look beyond the immediate income Dress Barn was offering. I didn’t know any lawyers at the time, but a professor at my college told me he thought I had the capability to excel as a lawyer. I always had an interest in history and politics, so I decided to buy some time on the “big question” by attending law school — setting me on the path I’m on today.

2) Turning down the big New York law firms paid off in the long run. Now I’m in law school and applying for summer intern jobs. I accepted an offer to intern at one of the largest law firms in NY. I learned a lot and had a ball that summer living in the City. Upon graduation, I was fortunate to receive offers from that firm and several others in NY – some of the most prestigious law firms in the country. I knew I was “supposed to” want these jobs. They paid the most money and had the most prestige. I guess I even surprised myself by turning them all down.

I certainly respected these very smart and accomplished professionals, but I realized I didn’t want to pay the dues that were required to advance at these firms. During my internship, I noticed that fourth-year lawyers were so excited when they finally got to handle a set of interrogatories. Again, not what I wanted as I didn’t have the patience to wait that long for the more interesting work.

Luckily, I also interned for a federal judge and he told me something that made a big impression. He noted that working at a multi-line insurance firm is one of the most interesting places for lawyers because of the intersection of statutory law, regulatory law, common law and economics.

So I ended up declining the big-money Wall Street job and taking a job at Aetna in Hartford for a lot less money. Was it as glamorous as NYC? No. But I was given an enormous amount of responsibility and opportunities that wouldn’t have come my way nearly as quickly. It was great advice, and it demonstrated to me the powerful role of a mentor. Today I actively participate in mentorship programs and am a big believer in the value a mentor provides.

3) Never say never. By now I’m Deputy General Counsel at Aetna Financial Services and on a nice legal career track. Which is why, when I was asked to become Chief Compliance Officer, I was more than hesitant. I was very focused on being the best lawyer and leader I could be, and frankly, the move to Compliance didn’t sound all that interesting. My boss prevailed. They needed a new leader to re-focus the department and he wanted me on that wall. I reluctantly agreed to “take one for the team,” and it became a game changer for me. I accepted the challenge of re-shaping the Compliance department and in the process learned a lot more about the business than I would have otherwise. Despite my initial reluctance, it was a critical step in broadening my career.

The lesson learned: don’t have too much of a plan, don’t be afraid of new experiences and use every job as an opportunity to learn.

4) “I’m just a broken-down lawyer.” Moving from the legal world to running a large set of businesses was a very big pivot. Aetna Financial Services was acquired by ING, and I eventually became General Counsel and Chief Administrative Officer of ING U.S. This was a great role with a lot of diverse responsibilities and I was feeling good about my career. Then I got a call that changed everything… again.

The leader of ING U.S. asked me to leave my role and make the leap to the business as CEO of the U.S. Institutional businesses, the largest P & L in that division. I was a little worried about another change, but I accepted it and embraced the role with everything I had. Of course, I’ve made some mistakes along the way like anyone else, but I’m constantly pushing myself and our teams to not leave anything on the table and to reach our full potential. I also like to joke that I’m still just a broken-down lawyer, so what do I know…

And the latest career decision – the one to move from ING and join Fidelity was the hardest decision. I loved the team in the businesses I ran at ING and hated to leave them. However, the opportunity to join another great team, a market leader with an incredible heritage of customer focus and commitment, made that decision one I never regretted. I have learned much and grown in this new role and have benefited tremendously from working with the wonderfully talented people at Fidelity.

The takeaway from all this – never stop growing. Work hard, keep a positive attitude, and take full advantage of opportunities when they come your way. And make sure you listen to advice from people you respect. Their wisdom and experience is invaluable. I still don’t feel “all grown up,” but I’m fully living the journey, learning as much as I can and growing along the way.

This article is published in collaboration with LinkedIn. Publication does not imply endorsement of views by the World Economic Forum.

To keep up with the Agenda subscribe to our weekly newsletter.

Author: Kathleen Murphy is President, Personal Investing at Fidelity Investments

Image:A woman with a book sits on a bench at the departure area at the Fraport airport. REUTERS/Lisi Niesner 

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