The myth of job security

****Originally Posted 11/22/06

My career at a glance:

1996
Jul - Begin working part time for a small management consulting firm with plans to go full time after graduation. I didn't seek other opportunities.
Dec - Graduate

1997
Feb - Management Consulting firm closes its doors
Mar - Work for a temp agency doing menial clerial work
Jun - Join a large national bank as a Project Management Intern on a systems conversion,
supposed to convert to full time at end of project
Oct - Project ends, told to find new job because of merger with another large, national bank
Nov - Join competitor west coast bank as an analyst, begin programming. I consider this my first real salary

1998
Dec - Join a small cooperative advertising management firm as a PM/Developer - 30% pay increase

2000
Sep - Join a technology consulting firm as a Technology PM Consultant. Placed at a direct marketing firm - 15% pay increase

2001
Throughout year - tech bubble bursts, corporate fraud (Enron, Worldcom), 9/11
Aug - Consulting firm does a Reduction In Force (RIF) because Enron left $2MM in invoices unpaid - I survive
Oct - Consulting firm reduces salaries 10%

2002
May - The direct marketing company hires me as an employee - 30% pay increase
Sep - HP and Compaq merge. HP was a major customer, so merger elminates 40% of direct marketing firm's revenue
Oct - I buy a house close to my new employer

2003 (a rough year to get married!)
Jan - Direct marketing firm RIFs 20% of workforce - I'm let go
Jan (two weeks later) - Start work at a small trust company as a Technology PM - 10% paycut
May - The trust company hits front page news as cause of mutual fund scandal
Jul - The trust company lets go contractors
Sep - The trust company RIFs 20% of workforce - I select who leaves from technology
Oct - CEO is fired by board; OCC tells the trust company it can no longer exist
Dec - The trust company bought by another trust company, forming a new organization

2004
Feb - Promoted to Manager, Application Development, 10% raise (back to my salary at the direct marketing company)

2005
Jun - After outlasting 4 CEOs, 2 CIOs, and 3 COOs, leave the trust company for one of the Big 5 technology organization as a Technology PM - 20% pay increase
Sep - Project I'm on stops due to disagreement between VP and SVP

2006 (a rough year to have a baby!)
Apr - After doing nothing but reading books and surfing the internet for 8 months, realize project is not going to survive
Mid-Jun - Join a Fortune 500 mining company as Manager, Innovative Solutions - 20% pay increase; Big 5 tech company kills project and lets go 30 people, VP on down
Late-Jun - Mining company announces it is buying two smaller mining companies
Sep - Smaller companies purchased by someone else
Nov - Mining company I work for announces it is being bought by a smaller mining company
Nov (2 DAYS later) - Mining behemouth announces it would like to buy the company buying us, possibly killing our merger deal (this never materialized)

In 10 years of working in Corporate America, I've worked for 11 companies in 11 different roles and quadrupled my salary. In June, I was tired of changing jobs, so I sought employment with a stable, locally based, Fortune 500 company. This mining company has existed for over 125 years and has been a staple of the state economy for over 100. Five months after I join them, they get bought.

A few things I've learned over the last 10 years:

1) There is no such thing as "job security"
2) There is such thing as "career security"
3) Technology is a VERY good industry to be in; and the state I'm in is a great state
4) You have to be good at selling yourself if you want the pay you deserve
5) If your skills don't keep up, then you don't move up
6) Diversifying your portfolio helps you retire well; diversifying your income helps you retire early

Bottom line: I only worry about the things I can control - my skills, my attitude, my choices.