Up next on MaltaCEOs.mt’s Work and Wealth Watch series where Money Coach Luca Caruana gives his expert responses to all your questions related to money, work and wealth. Want to see your own questions answered on MaltaCEOs.mt? Send your questions on [email protected]

Dear Luca,

I’ve devoted 16 years of my career to my current employer, a reputable local insurance firm, climbing the ranks from a Junior Executive to my current position as a Manager over the last three years. Each step up the ladder brought a modest salary increase, and despite lucrative offers from competitors who’ve attempted to lure me away, my loyalty has never wavered—until now.

Recently, an incident has shaken my faith in this allegiance. A year ago, we welcomed a new manager to our team. At 29, she’s younger than my 37 years, but we hit it off professionally. I admired her fresh perspective and the vigour she brought to her role, seeing in her a kindred spirit dedicated to our company’s mission. It felt invigorating to have someone with a parallel level of commitment and drive.

However, my world was turned upside down a month ago when I discovered she was promoted to Senior Manager—a position I now report to. This news was both shocking and disheartening. It’s not a matter of personal grievance against her; rather, it’s a question of recognition and opportunity. Despite my equal dedication and longer tenure, why was I overlooked? Seeking answers, I approached HR, only to be told my situation would be “reviewed” next year.

This experience has led me to question the very essence of loyalty. The realisation that adopting a more opportunistic approach might have been more beneficial is a bitter pill to swallow. Beyond the professional setback, this situation has personal ramifications as well—I can’t help but feel I’ve compromised my family’s financial wellbeing by staying loyal to a company that may not value my contributions as I believed.

I’m dealing with a lot of mixed feelings: feeling let down, regretting some decisions, and not sure about what to do next. It’s unclear which direction I should take from here.

Warmest regards,

Betrayed and Hurt

Luca Responds:

Dear Betrayed and Hurt,

I understand how difficult and frustrating this situation must be for you. It’s true that loyalty to a company doesn’t always guarantee advancement or recognition, and unfortunately, it’s becoming more common for long-term employees to be overlooked. It’s crucial to approach this situation strategically.

Financially speaking, before you make any decisions about leaving, ensure you have a solid emergency fund in place. Job transitions can be unpredictable, and it’s important to have financial security in case the next opportunity doesn’t pan out immediately or if you encounter unexpected unemployment.

I advise against making any hasty decisions while emotions are running high. Anger and frustration can cloud judgment and lead to choices you might regret later. Instead, see this as a learning opportunity. Reflect on what qualities or skills the new senior manager possesses that might have contributed to her promotion over you. Being objective about this can provide valuable insights, whether you decide to stay with your current employer or look for opportunities elsewhere.

Additionally, consider this a prompt to reassess your career goals and what you truly value in a job. Sometimes, a setback like this can lead to more fulfilling opportunities elsewhere or spark a motivation to develop new skills, and monetise your talents.

Warm regards,

Luca, The Money Coach, from the Money Coaching Hub


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