Pros
Picture a treadmill powered by promises. Golden carrots waved in front of your inner donkey’s nose—“one more project and you’re there”—then they migrate to “next quarter.” It’s a masterclass in almost: almost promoted, almost staffed, almost ready. 95% of upper management has zero hands-on experience (heavy on business/accounting degrees), so goals are set by PowerPoint gravity, not project reality.
Merit math: Annual “merit” increases aren’t about merit; they’re about how quietly you absorb pain. If you’re lucky enough to get a review, it’s the usual: “we’re in the red, can’t afford a proper raise”—then, somehow, underperformers walk away with a higher % than top contributors to “adjust bands” or plug retention holes.
PE playbook extra: Portfolio “talent shuffles” are common—management will pilfer strong employees from the red to go fix profitable sister companies. Great for the P&L that gets the rescue crew; devastating for the team left behind. If you’re very lucky, they’ll buy you lunch while handing you two more jobs.
Sharp coworkers; interesting problems when resourced
Fast learning curve (trial by moving target)
Resume rocket fuel for “operating under constraints”
Free cardio from carrot-chasing
Cons
Rewards payable in “soon™”
Goalposts on casters; weekends drift into “optional”
Strategy crafted mostly by non-practitioners
“Merit” raises decoupled from performance; reviews sporadic
Portfolio raiding drains teams; responsibility creep paid in sandwiches