Career growth is a job or financial change in an employee’s career based on professional and personal qualities.
There are three types of career advancement: horizontal, vertical, and diagonal. Each of them has its pros & cons.
It’s a career growth within one company. For example, an employee signs up as a Junior Development, and eventually becomes Middle, and then Senior, etc. This type of career advancement has advantages and disadvantages.
Strengths of vertical career growth:
Weaknesses of vertical career growth:
Diagonal career growth is the transfer of a specialist to a new company with a position higher than at the previous work place.
Strength of diagonal career growth:
Weaknesses of diagonal career growth:
It is the transfer to a new company for the same position with a pay rise. Another interpretation of the term “horizontal career growth” is deepening competencies and expanding responsibility within one position.
Strength of diagonal career growth:
Career growth, in most cases, is impossible without professional development is the personal improvement in line of work, acquiring new skills, and work experience that can help achieve a career goal.
Together, growth and development form the backbone of a successful career plan that brings satisfaction and good rewards.