Business
114. The truth about ambition: Finding Fulfilment in the 'Power Middle', with Cate Luzio
2024-07-10
This month, we're doing something different to keep you entertained over the summer holidays. We're bringing you two inspiring interviews each week with people who are building remarkable organizations.
Today, we have an incredible guest, Cate Luzio, Founder and CEO at Luminary.
Cate Luzio spent the first half of her career climbing the ranks of some of the biggest banking institutions in the world. She was Senior Vice President at Bank of America before becoming Managing Director of Global Corporate Banking at JP Morgan, and then moving to a senior role as Managing Director for HSBC.
In 2018, Cate quit her high-profile banking career and founded Luminary. Luminary is a global professional education and networking platform for women and allies in ALL phases of their professional journey –whether entering or re-entering the workforce, a senior executive or a leader positioned in the "Power Middle", embarking on a career transition or entrepreneurship.
The Transition from Finance to Entrepreneurship:
- Cate shares the difficulties she faced moving from a structured corporate environment to the unstructured world of entrepreneurship.
- How she built Luminary to provide structure for herself and her team.
Understanding the Power Middle:
- The Power Middle is middle management and mid-career professionals who may not aspire to reach the C-suite.
- Definition: Middle management and mid-career professionals who may not aspire to reach the C-suite.
- The importance of recognizing and valuing contributions from the middle tier.
- Differences in career progression experiences between men and women.
Leadership and Influence in the Middle:
- How the middle tier can exert influence and build power without climbing the traditional corporate ladder.
- The necessity of investing in and rewarding the “power middle.”
- Leadership can exist at all levels, not just at the top.
Compensation and Career Satisfaction:
- Broadening the understanding of compensation beyond salary to include bonuses, flexibility, and professional development opportunities.
- Encouraging open dialogue between employees and managers about career aspirations and personal priorities.
Gender Bias in Promotion Practices:
- Men often promoted on potential, women on performance.
- The need for managers to support and mentor employees based on potential.
Impact of Luminary:
- Support and development for women and other underrepresented groups.
- Success stories of Luminary members negotiating better terms, gaining financial acumen, and achieving professional growth.
- Visit Luminary: weareluminary.com
- Connect with Cate Luzio: LinkedIn - Cate Luzio
- Follow Luminary on Instagram: @weareluminary
If you or someone you know is struggling with mental health, here are some resources for support:
- Mind: mind.org.uk
- Samaritans: Call 116 123 or visit samaritans.org
- Mental Health Foundation: mentalhealth.org.uk
- National Suicide Prevention Lifeline (US): 1-800-273-TALK (8255) or visit suicidepreventionlifeline.org
We value your insights and questions! Email us at hi@truthliesandwork.com or leave a comment on our YouTube channel to share your thoughts and queries.
Connect with Al and Leanne:
- Join the Conversation on LinkedIn: Truth, Lies & Work on LinkedIn
- Connect with Al on LinkedIn: Al Elliott
- Connect with Leanne on LinkedIn: Leanne Elliott
- Email: Hello@truthliesandwork.com
- Book a Call with Al & Leanne: Book a Call
Next Tuesday, we have a guest who has spent his entire career building brands and will show you exactly how to create an amazing employer brand that effortlessly attracts top talent. See you then!
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