Though we have become conditioned to see and glance over the above classic investing disclaimer, it might be wise to remember this phrase when it comes to interviewing.
One of the most common issues we have encountered over the years in the interview process is the paradigm of candidates “assuming” their past level of achievement “entitles” them to a certain level of compensation, responsibility, or deference. While past achievements are important, relevant, and a critical component in the evaluative and qualification process, it alone does not make a hiring decision. The true irony is that this issue seems to grow the higher one rises in their professional career in position, compensation, or scope of responsibility. A logical sequence of events, but a common pitfall the more senior and successful one becomes.
The issue becomes one of where a candidate is expecting, either overtly or covertly, a “reward” for what they have done in the past. Certainly reasonable, but one must remember the reward is granted by the one that benefits from that achievement, not by the one for whom you have yet to do anything. Yes, there is clearly a place for incentivizing someone to join the team, but you must demonstrate how your past level of performance will carry forward and continue with the new firm, in the new role, and at the new level.
In summary, though what you have done is of importance, it truly pales in comparison to what you will do going forward. People are hired for the future, not the past. Every company is very well aware of the timeless investing disclaimer, and you better believe they apply it to every single hiring decision – your past performance is no guarantee of your future results.