In a 2021 study by Korn Ferry and the Executive Leadership Council, more than 80% of the Black profit-and-loss leaders interviewed said a sponsor had been indispensable to their career progression. Half said they had deliberately sought challenging projects with P&L responsibility. The findings raise a practical question for professionals planning their next move: what experience, evidence and relationships will help others see what they can do?
The study does not prove that sponsorship or a P&L assignment causes promotion. It offers a view into how a group of senior Black executives approached their careers. More broadly, a career asset is something a professional can carry into another role or use to assess a new opportunity: demonstrable skills, a record of results, trusted relationships, relevant experience, financial flexibility or a path to ownership.
That matters in a labor market where access to advocates is uneven. McKinsey’s 2021 Race in the Workplace research found that more than two-thirds of the Black employees surveyed said they did not have a sponsor, even though 87% of participating companies reported having sponsorship programs. A company having a program does not mean every employee has someone actively recommending them for opportunities.
Taken together, these assets can help a candidate explain their value, judge what a prospective employer is offering, and make a more informed decision about the next stage of a career.
1. Work You Can Explain, Document and—Where Appropriate—Own
A professional’s expertise can take many forms: a method for reducing operating costs, a training framework, research, product design, or a body of published work. Keeping a record of what you contributed, the problem it addressed, and the results it produced can help explain your role during a job search or advisory discussion.
Ownership requires care. Work created during employment may be subject to an employment agreement, company policy, or other legal rules. Using personal equipment or working after hours does not, by itself, determine ownership. Before publishing or commercializing work developed alongside your job, review the relevant agreements and seek legal advice where needed. The Supreme Court’s discussion in United States v. Dubilier illustrates that employee invention rights can depend on the work arrangement and the facts of the case.
It helps to distinguish between demonstrating expertise and claiming ownership. A professional can describe skills and experience without taking employer-owned material, confidential information, or work product into a portfolio. If an independently developed method or body of research is clear of relevant restrictions, licensing or consulting may be worth exploring.
2. A Record of Measurable Results
A résumé can say that someone led a team or improved a process. A stronger account explains the scope of the work and what changed: revenue generated, costs reduced, customers reached, risks addressed or responsibilities expanded.
Where possible, keep a private, accurate record of outcomes as they happen. Use only figures you are authorized to share. If exact numbers are confidential, describe the scale or type of result in terms your employer permits.
The Korn Ferry–ELC study offers one reason to seek assignments that make performance visible. Half of the Black P&L leaders interviewed said they had intentionally sought difficult projects with P&L responsibility. That does not mean every professional needs a P&L title. It suggests seeking work that makes your contributions and decision-making clear.
3. Expertise that Travels Across Roles
A credential can signal knowledge, but its value depends on the role and whether employers recognize it. The same applies to specialized expertise. Someone who understands both financial modeling and regulatory requirements, for example, may be able to contribute across finance, risk and compliance teams.
Before paying for a certification or course, check job descriptions for the roles you may want next. Ask people already doing that work which qualifications matter in practice and which capabilities employers test directly. This can help distinguish training that fills a real skills gap from a credential that merely adds a line to a profile.
Support and coaching can also shape how expertise develops. Ursula Burns, the former Xerox chief executive, recalled an engineer at Bell Labs who helped her understand the work and feel she belonged in the field.
He showed me not just how to do it, but that I belonged there. — Ursula Burns
The asset is not the certificate by itself. It is the capability, evidence of using it, and a clear explanation of how it could apply to another employer’s needs.
4. A Public Record of Your Expertise
Articles, conference talks, professional association work, and media commentary can make a person’s expertise easier to find. They can also give recruiters or potential collaborators a sample of how that person thinks. Visibility is not a substitute for experience; public work should be accurate, relevant to the person’s field, and consistent with employer policies on confidentiality, outside work, and public statements.
A concise portfolio can help: a biography, selected work, speaking topics, and examples of outcomes that can be shared publicly. Keep it current, and remove anything confidential or owned by an employer.
5. Sponsors and Relationships that Can Open Access
A mentor can offer advice. A sponsor may also recommend someone for a role, put their name forward for a high-visibility assignment or help them reach decision-makers.
In a McKinsey interview, Barry Lawson Williams described the difference:
Sponsors are different because they are the ones who do things for you. — Barry Lawson Williams
Williams also discussed asking for help and making a request the other person could act on. His own career illustrates how experience and advocacy can intersect: he told McKinsey that an investment banker who knew his work raised his name for a public-company directorship. Before that appointment, Williams had served as corporate secretary for businesses at Bechtel and on nonprofit boards. He said he later served on 16 major public-company boards.
Relationships can form through strong work, useful collaboration and staying in touch with people across a field. The aim is not to collect contacts. It is to build professional trust and make your ambitions clear enough that someone can advocate for you when an opportunity arises.
6. Financial Room to Make a Considered Decision
Savings can give someone more time to compare offers, manage a gap between roles, or consider independent work. The amount needed varies with a person’s obligations, income, dependents, and cost of living. There is no single reserve target that suits every professional.
A useful first step is to map essential monthly expenses and consider what would happen if income stopped or a new role began later than expected. That exercise can make an offer’s full terms easier to assess, including bonuses, benefits, vesting schedules, relocation support, and restrictions on outside work.
Financial reserves cannot remove the power imbalance in a negotiation, but they may give a candidate more options. The point is not to become wealthy before changing jobs; it is to reduce the extent to which immediate financial pressure determines the decision.
7. A Path to Ownership and Business Opportunities
Career capital can sometimes be converted into economic opportunities beyond another salaried role: advisory work, consulting, licensing, board service, equity or a business built around specialized expertise.
Ayanna Carrington’s move from law-firm work to consulting offers a documented example. She noticed that young Black attorneys at her firm were not getting the tools they needed to succeed, then founded Your Project Board, a consulting firm that provides project management, virtual assistance and marketing services. Black Enterprise reported that the business grew as work shifted to hybrid and remote schedules during the pandemic. Carrington also said her legal background helped her set up a business but had not prepared her for the demands of running one, including pricing.
Her experience shows the distinction between having professional expertise and knowing how to turn that expertise into an enterprise. Carrington applied knowledge from her legal career to a problem she had observed, then had to develop capabilities that her previous role had not required.
A professional does not need to leave employment or start a company simply because they have valuable expertise. But understanding what parts of that expertise could support consulting, advisory work, licensing or another business can change how they evaluate career opportunities.
When considering a role that includes equity, ask how the compensation works. Options, restricted stock, profit interests, and phantom stock have different conditions. Review the grant documents, vesting schedule, tax treatment and what happens if you leave. A headline equity figure is not the same as cash or guaranteed future value.
A Practical Career-Asset Review
Before a job move, write down the work you can demonstrate, the outcomes you can discuss, the skills you want to carry into the next role, and the people who can speak to your contributions. Review agreements that affect your work, confidentiality or outside activities.
Then compare prospective roles on responsibilities, support, compensation terms, risks and potential ownership—not salary alone. Ask what the position will add to your career capital as well as what it pays today.
A strong career move should improve what you earn while adding to what you can do and, where the opportunity exists, what you can own.
Frequently Asked Questions
How can career assets help in salary negotiations?
A clear record of skills and results can help a candidate explain the value they may bring to a role. It does not compel an employer to offer higher pay, equity or a board seat. Compensation depends on the role, employer, candidate and negotiation.
What is the quickest career asset to assemble?
A record of past work and results may be quickest to organize. Use only information you are allowed to share, and describe confidential projects without revealing protected details.
Is sponsorship the same as mentorship?
No. A mentor primarily provides guidance and perspective. A sponsor can also use their influence to advocate for someone’s advancement or access to opportunities. One person can sometimes serve both roles, but they are not the same function.
Is financial flexibility necessary before changing jobs?
No. People change jobs under many different financial circumstances. Financial room can create more options where possible, particularly if there may be a gap between roles or the new position carries different compensation risks.
How can employees protect work they develop while employed?
Review employment agreements and company policies before publishing, licensing or commercializing work. Rules depend on the agreement and circumstances, so working on personal time or equipment does not automatically establish ownership. For a specific dispute or planned commercial use, consult a qualified lawyer.
