Sergey Fedoseev, currently Managing director for strategic projects in Sk Capital, discusses the “learning vs. earning” approach during career switches, cultural fit considerations in new roles, and combating self-doubt during transitions.

Coherent exposition of the interview

1. Career transitions as a subject of conscious analysis. Sergey Fedoseev views his career as a sequence of deliberate, though not always fully premeditated, transitions across roles, industries, and employment formats. His professional trajectory includes consulting, corporate roles, banking, entrepreneurship, and independent practice. The speaker emphasizes that the true value of these transitions becomes clear primarily in retrospect. Accumulated experience allows him to identify durable principles applicable to managing other people’s careers.

2. The “learning or earning” principle as a core decision criterion. Mr. Fedoseev formulates a fundamental rule for career decisions: any transition should provide either substantial learning or a multiple increase in earnings. Ideally, both elements should be present, but the absence of either makes a move questionable. This principle is particularly critical in the early stages of a career. A transition without skill development or economic upside lacks strategic justification.

3. An early-career mistake driven purely by compensation. The speaker recalls an early move from IBM to Xerox that was motivated by a threefold salary increase. Despite its financial appeal, the role offered no meaningful learning opportunities. He experienced professional stagnation and a strong sense of boredom. This episode became a formative lesson on the short-lived nature of monetary motivation when detached from intellectual growth.

4. Learning as the dominant priority in the first half of a career. Mr. Fedoseev concludes that during the first 10–15 years of a professional journey, learning should outweigh earning. Skills and knowledge acquired during this phase form the foundation for future monetization. He frames early career stages as an investment period. In his view, premature fixation on income undermines long-term potential.

5. Reassessing the importance of cultural fit and work relationships. Over time, Sergey Fedoseev significantly revised his view on cultural fit and workplace relationships. He notes that people spend the majority of their active lives at work. Consequently, the quality of professional relationships directly affects overall quality of life. Culture and people become decisive, not secondary, factors in selecting roles and projects.

6. The illusion of cultural uniformity among corporations. The expert highlights a common misconception that large corporations are culturally similar. In reality, differences between organizations can be profound. Success in one corporate environment does not guarantee success in another. Cultural mismatch can neutralize even strong professional competence.

7. Mindset as a defining component of corporate culture. Mr. Fedoseev identifies the distinction between fixed and growth mindsets as a key cultural marker. Fixed-mindset environments are characterized by risk aversion and fear of mistakes. Growth-mindset cultures encourage experimentation, skill transfer, and managed risk-taking. This distinction, he argues, shapes the development trajectory of both organizations and individuals.

8. Real corporate values and how to uncover them. The speaker emphasizes that declared corporate values rarely align fully with actual behavior. Real values reveal themselves through everyday decisions and actions. The most reliable way to understand them is through direct conversations with current employees. Leveraging one’s professional network is, in his view, a critical tool for assessing true cultural dynamics.

9. Evolution of the view on coaching and external support. Early in his career, Sergey Fedoseev was skeptical about coaching. He doubted that an external party could grasp the complexity of corporate realities. His experience with career counselors during his consulting years fundamentally changed this perception. He came to appreciate the value of timely, professional, and detached external perspectives.

10. The three core functions of coaching. Fedoseev structures the value of coaching into three elements: space, experience, and perspective. Coaching creates protected time for reflection and self-focus. It enables learning from others’ experience rather than solely from personal mistakes. Finally, it provides alternative perspectives unavailable from within one’s own situation.

11. Cross-industry transition as a managed risk. The speaker describes his move from strategy consulting to equity research as an example of calculated risk-taking. Despite lacking direct industry experience, he relied on transferable skills and a learning mindset. A growth orientation allowed him to frame the transition as a challenge rather than a threat. In retrospect, he considers the move unequivocally successful.

12. Limited role of passion in sustaining a career. Fedoseev argues that while passion is important, it is not a durable source of energy. Using the marathon metaphor, he notes that discipline and endurance become decisive in later stages. The same applies to careers. Passion sets direction, but commitment and structure deliver results.

13. Purpose and the distinction between life and career meaning. The speaker distinguishes between life purpose and career objectives. Different career stages may serve different purposes. Often, the meaning of decisions becomes apparent only in hindsight. For this reason, he cautions against treating purpose as the sole criterion for decision-making.

14. Career as a sequence of phases with distinct objectives. Fedoseev outlines several career phases: experimentation before 30, niche development before 40, and later a focus on contribution and knowledge transfer. Early stages are about trial and error. Mid-career emphasizes specialization and depth. Later stages naturally shift toward mentoring and giving back.

15. Managing self-doubt and cognitive distortions. The speaker explains that the human brain is evolutionarily wired to anticipate worst-case scenarios. During career transitions, this manifests as exaggerated fears. He suggests treating such thoughts as background noise rather than guidance. Clarity around values and priorities enables continued forward movement.

16. Values as the foundation of sustainable confidence. The expert emphasizes that genuine confidence is rooted in a clear understanding of one’s values. Knowing one’s “why” allows individuals to withstand uncertainty, pressure, and setbacks. He illustrates this with a personal example of running a charity race. Values, rather than emotions, provide long-term resilience.

17. Redefining success and the risks of external identity. In conclusion, the speaker critiques the tendency to tie self-worth to titles, brands, and status. Sergey has observed how the loss of these external markers can lead to deep personal disorientation. True success, in his view, is defined by internal criteria: relationships, contribution, and authenticity. These retain value regardless of career circumstances.