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What I Learned When I Fell From "The Top"
Madeleine was at the top of her career. Then she fell, and learned some invaluable lessons.
Madeleine McBride | WomenCo.
May 23, 2008
I’m going to write a weekly column focusing on personal finance and career advancement. I make no pretense of being an expert on either topic.
I do consider myself experienced in both. I have been fortunate enough to enjoy what I consider a robust and professionally rewarding career rise for over 20 years. I studied English Literature as an undergraduate. After graduating, I accepted a position at American Broadcasting Companies, Inc. as a secretary. The most compelling incentive for taking the job was ABC’s policy – at the time – on tuition remission for employees attending graduate school. As a direct result of that benefit and after four exhausting years of night school, I earned my MBA in Accounting from a top-ten business school.
While still earning my MBA, I was offered a promotion to a financial management position which involved auditing the production costs billed to ABC by the studios and production companies who provided programming to ABC. I determined whether or not the billings were in compliance with the contract. An internal promotion of such significance is virtually unheard of in today’s corporate philosophy. (This will surely be fodder for a future column.)
After several years, armed with professional experience, an MBA, and the nuggets of wisdom acquired through a veritable library of “How to Succeed in Business” books, I enjoyed consistent professional advancement, culminating in a position as vice president in television production finance at a major motion picture and television studio.
In this staff position, I made a good salary. As the sole earner in the household, I supported my husband and son in comfort. We took out a mortgage for a house in a Los Angeles suburb. We had two cars. We enrolled our son, 12 years old now, in the local public school. My husband, the stay-at-home parent, cared for our son while pursuing an intermittently encouraging career as a freelance screenwriter. We had health insurance, life insurance, a 401k, a SEP IRA for my husband, and nine months worth of living expenses saved in a CD. We took an annual vacation, participated fully in gift-giving holidays, and still had money enough to eat out far too often. By the standards of any reasonably well-educated, knowledgeable, and experienced professional individuals, we were enjoying the American Dream.
And then – although it took me a while to realize it – the sky began to fall.

Bluelily
3 months ago
118 comments
Looking forward to reading your future articles. Definitely now is the time too understand that you are effected by Wall Street's decisions as well as the world.
soarlikeaneagle
4 months ago
2 comments
I' m looking forward to read more. Thanks
MekaRevell
5 months ago
14 comments
There are no real experts out there we just have to share what we've learned to up lift each other and the lil ladies behind us...U have my full support each week...
mrslabel
7 months ago
12 comments
I feel like you were writing about me and my life! I am looking forward to reading more about you and your survival in your future articles. We are all in this together and helping others to help themselves is a marvelous endeavor!
LilaK
7 months ago
108 comments
An inspirational story, Maddie, and so well-wrought. Thank you!
soldiergirl
7 months ago
2 comments
Excellent article. I can't wait to read more about your story.
jwivysea
7 months ago
6 comments
Madeleine's story is a great reminder -- not that if we 'muscle' it out even more to try to manage the unmanageable, but that sometimes we do everything 'right' and still have things happen that are outside of our control. In these times, it's less beneficial or efficient (not to mention compassionate) to look back and wonder what else we could have done to prevent it, but to open ourselves to a more expansive capacity to navigate change, summon new strengths, and get reacquainted with truer values and priorities that we might have long ago buried in our frenzy to climb the ladder 'to the top'. It's called 'a fall from Grace' for a reason -- it reminds us that we had indeed separated ourselves from Grace. Grace happens ... it's just not something we learn in B-School.
nilichia
7 months ago
2 comments
well i must say i really enjoy your article. me myself im at a standpoint in my life where i really don't know what i want to do. i tried going to school on line to further my education but after a while became very bored with it so i stopped going. some people think temp agencies are bad because they don't really have any benefits. but im here to tell you i have been working with temp agencies off and on for the past ten years and it is the best thing i have ever done for the simple fact that i have picked up a lot of skills by doing so. the pay sometimes has not always been that great, but for what its worth, i have become very marketable in the workforce. i have been getting either emails or phone calls about jobs all the time just because of the skills and the experience that i have listed on my resume which range from accounting, payroll, high end customer service jobs, human resources, insurance, ive become an expert at microsoft office products which is what alot of companies are looking for, an excellent multi-tasker, problem solver, and love to take on new challenges. Sometimes its just a matter of finding a way to make yourself marketable in more than one field. I have been doing clerical work for over 10 years now and have found that this is one field that they are always looking for employment just like hospitals look for nurses. clerical could mean a variety of things which most of time depending upon what type of position it is especially administrative assistants usually have a variety of duties they are responsible for on a daily basis and if you like challenges or meeting deadlines, this is a good field.
Erica
7 months ago
2 comments
Well I can surely relate to this story, its what I am going thru right now... Corporate merger and uncertainty if this job will even exist in a few months. I do not have the education level but the experience I definately do have. I know finding my salary range will be tough, I live in New York and everything costs a fortune here. We have the highest sales taxes around, not to mention 4.12/gal for gas. Good luck to you as its a tough market out there, but us independent women always come out on top. Hang in there, get what you deserve.
Gata
7 months ago
2 comments
Thank you for sharing. I lost my job after 12 years and the same feelings I experienced. Having the world at my fingers as long as I was with this specific company,. Now I'm homeless, jobless and pennyless. Yet I have my pride and dignity and I won't let it get me down. I'm in the job market looking for a compatable position and so surprised that even with testing at the top 90's that they don't even have a temporary job for me. People keep your jobs and appreciate them. But save your money and plan for a loss of wages. It's not a pretty picture to have to rely on family but they are their and you have to accept the help.
Golden_Dreams
7 months ago
2 comments
This article confirms my lack of trust in any company today. Now in my thirties, I know the importance of networking and staying well trained. I use my evaluation period with my manager to review current tasks, and request new tasks that may boost my career within the company and keep me marketable. I am always thinking about my resume when given a new task. I've been through a layoff once before, and that was nice and decent; cannot say the same for the next time around.
VirtuousWoman12
7 months ago
4 comments
Madeleine, What a statement !! " Managing your Career" should be a required course taught in both high school and college. This world is changing and we better learn that quickly. As a nation of people, including myself, we don understand the importance of seeing that "less is actually better" Almost everyday, I see the excess that I have created in my life and it makes me sick to my stomach. When I look at the number of shoes, nail polish, clothes, max out credit cards etc...............what can I really. The evidence of overspending, gluttony is there. Well, I am making a CHANGE in my life for the better.
Keep up the good work. Thank God for what you are doing. As a nation of people, we must come together and put government BACK into the hands of the people. As an African American woman, I see the importance of how unity can bring these companies to their senses. The Alabama bus boycott did it. We need to come together as a nation of people and rise up against the folishness companies have done to people.
Take care and I look forward to seeing more of you in print.
Sincerely,
Virtuous Woman
Daniela
7 months ago
1482 comments
Blking74: You are an inspiration! Congratulations on knowing "what really matters." You sound like an extraordinary mother and woman!
blking74
7 months ago
4 comments
Thanks Madeleine,
Unfortunately we do lose alot to realize what little we do have means the world. I was far from the top (an E-5 in the Navy), and was bringing home more than my husband also. When a decision came to have my family together or my career at the time, I chose my family. It was the hardest decision I think I ever made. Now, 2 years later, we're raising 4 kids (ages 12, 10. 2, and almost 1) on a single income of less than $2500/mo, and my only regret is that I was too busy doing my job and not investing in my career in case I no longer had that job. Now I'm trying to get a degree while raising my 4 kids, but I wouldn't trade it for what I had! Family is stability, everything else is replaceable.
MRowen
7 months ago
2 comments
Maddie,
Thank you so much for sharing your story. I am currently in a similar situation, I was let go from my job after working there for close to ten years. I was the one who brought in the larger salary for my family. I had all the benefits one could imagine and was also living the American Dream. We were well on our way to buying our first home this year and now things seem to be at a standstill. I have been out of work for two months now and I truly thought that anyone in their right mind would hire me in a minute. Talk about having a big head. I wore a lot of hats in my former position yet I am beginning to think that this may be a set back instead of good experience to add to my resume. I know I am going to take a pay cut of at least $22,000 annually. I now find myself faced with dipping into my retirement account/savings and that scares the hell out of me. I have a three year old and I am trying very hard to stay optimistic. I know something else is out there for me I would just like to find it sooner then later; however, I realize I am on God’s time and I need to be patient leaving no leaf unturned. Thanks again for your story I am looking forward to other articles and hearing how you bounced back and some of the actions you took.