Here’s one for you…
What do you do when the person above you is going to hold their position for 5+ years and there’s no chance of progression until they move on?
A treasury professional came to me with that problem recently; they didn’t know what to do.
And this isn’t uncommon. Most careers don’t stall because someone lacks ambition, they stall because the structure above them simply doesn’t move.
So if you’re in a similar position, or think you might be in the future, here’s what I suggested…
This is the moment you run what I call The Career Ceiling Test.
And the outcome of this will tell you whether to stay, stagnate, or sidestep.
How does it work…?
You look at the company’s history:
The past is the best indicator of the future.
See if there’s been a pattern…
Were people in the wider treasury team progressing, rotating, being promoted every 2 to 3 years?
Has everyone been sitting in the same chair for the past decade?
If you see colleagues across multiple teams who haven’t budged in ten years or more, you’re not imagining things – you’re in a company where movement is slow by design.
Now, that’s not inherently bad. Some organisations value stability above all else.
On the other hand, sometimes the “blockage” is just one person.
If every role around you turns over naturally except the one directly above you, then it’s not a systemic issue – it’s one individual whose timing doesn’t align with your own.
And then there’s the hidden wildcard…
What if the CFO changes?
A new CFO could want a new treasurer. They might restructure the team. They might bring in someone they’ve worked with before. You might finally get your chance, or find someone placed above you overnight.
There are no guarantees either way.
This is why I often remind candidates of something simple:
You’re allowed to vote with your feet.
If you genuinely see no path forward, the labour market is open.
You are not a rock; you can move.
And you don’t need permission to look.
But before making that decision, consider the long game…
Treasury careers tend to follow a natural rhythm:
- A year to learn a role.
- A year to do it well.
- A year to improve it – and then, inevitably, an itch for something new.
So moving every three years isn’t unusual. It doesn’t look bad on a CV as long as the story makes sense and each move represents progression rather than frustration.
At the same time, staying put can be incredibly rewarding in the right environment.
One of the best examples of that is someone many of you will recognise:
Patrick McCartan, VP and Global Treasurer at Caterpillar.
Patrick has been with Caterpillar for nearly 30 years. When I first spoke to him, I joked, “So you’ve basically had the same job for three decades?”
Not even close.
His career has been a masterclass in internal mobility:
Financial Representative, Mexico > International Funding Manager, Luxembourg > Corporate Funding Manager, Illinois > Vice President & Treasurer, Texas…
(And plenty more in between!)
Every two to four years, he had a new challenge.
And he built an extraordinary career, not by jumping ship every three years, but by choosing an organisation that kept stretching him.
So here’s The Career Ceiling Test:
Is the ceiling structural, temporary, or imagined?
- Look at the history.
- Look at the mobility.
- Look at the company’s appetite for developing people.
- Look at whether scope, responsibilities and visibility are still increasing, even if the title isn’t.
If the answer is yes, you may be in your own version of Caterpillar: a place where you can build a brilliant career without bouncing around.
But if the answer is no – if nothing moves above you, beside you, or around you – then you don’t have to wait six years to do something about it.
Best regards,
Mike
P.S. Patrick McCartan, VP & Corporate Treasurer, Caterpillar Inc. is just one of three incredible treasurers who will join my panel at TEXPO 2026 Conference in Texas in April 2026 alongside Emily Howell, Corporate Treasurer & Senior Director of Treasury & Risk at Copart Inc and Meredith Vance, Senior VP, Global Treasurer, at NTT DATA, Inc.
I’ll be talking to them about how they achieved their career success, the challenges they faced along the way, their insights on the future of the treasury profession, and they’ll be offering guidance on how to develop your own Treasury career.
Click here to get the event details. I’d love to see you there.
