Being the Boss: Pros and Cons of Being a Manager

Pros of being a boss

There’s a reason the ultimate goal for many people is the corner office or a C-suite job title. Being the boss comes with many advantages. Here are some of the top benefits of holding a management position:

1. You have more autonomy.

Whether you’re the head of an entire company, a department or a division, being the boss means you spend much less time answering to someone else. You set the agenda. Even though you’ll most likely put in longer hours, you’ll have more control over what you work on and when you work on it.

You’ll also have more responsibility, which can be a double-edged sword. While setting business goals and making decisions that impact the entire company can feel stressful at times, it can also be incredibly motivating, helping you find increased purpose in your work.

2. You can build your team. 

Being in charge also means you have control over who you work with. From the ideal skill set to personalities that mesh with yours, you have the final say in the hiring process, ensuring new team members fit the company culture and can help you meet your goals. 

If specific business areas aren’t your strong suit, you can bring people on board to complement your unique expertise. With the right team members by your side, you can delegate tasks and focus on doing what you do best. 

3. Your compensation will likely be better. 

The responsibilities of a boss are much more significant — but so is the compensation. One of the biggest benefits of being promoted to the top is the sizable paycheck bump. You’ll most likely also be eligible for many perks that go beyond your company’s standard employee benefits package. 

Many CEOs and managers receive discretionary bonuses, enrollment in premium health insurance plans and stock options. Compensation packages may even include the use of a company car or credit card. Plus, you’ll have access to leadership training, retreats and conferences, all of which offer excellent opportunities to expand your network.

4. You can make an impact.

As the one steering the ship, your actions — from setting short-term goals to defining long-term vision — determine the strength and scope of your business’s success. Your influence goes beyond just increasing profits. You’ll decide whether to stay small or open another location. You might expand your product line or focus on a specific niche. The direction you choose helps shape the future of your business.

This includes the core values that guide your company. A good leader has the chance to create a strong company culture by setting the tone for the rest of the organization. Championing ethical practices, promoting work-life balance and fostering open communication encourages your team to follow suit, which leads to happier, more engaged employees and a business model built to last.

5. The work is dynamic. 

The work of a boss is anything but dull or routine. While lower-level employees are mostly confined to tasks within their job description, the boss is responsible for everything that goes on within the company. You’ll have to understand the ins and outs of your organization while also handling people management. 

That doesn’t mean you won’t face repetitive tasks and boring paperwork. However, it’s safe to say your days will be far from monotonous. And while the work is more complex and challenging, you may find it more rewarding. 

6. You receive recognition for your contributions.

Whenever your business experiences a win, your name will surely be attached to it. Getting credit when your company triumphs certainly feels good, and it also helps build your personal brand. That recognition could open the door to numerous professional opportunities, such as speaking engagements, board seats and even leadership roles at other companies. 

However, every good boss knows that a little humility goes a long way. You’re leading a team, not going it alone, so it’s always a good idea to share credit with your hardworking employees. 

7. You get to be a leader.

Rising to the top position in a department or organization means you’re now setting the direction, but it doesn’t necessarily mean people will follow. Managers can become leaders by approaching all endeavors in a way that inspires employees. Open communication, empathy and trust are all traits worth developing when you’re the boss. 

Being a leader to your team is one of the most rewarding parts of the job. You have the opportunity to mentor junior employees and establish systems to help everyone on your team reach their full potential. 

Cons of being a manager

While there are many great things about being in charge, you’ll also face new difficulties. Dealing with these challenges can raise stress levels, harm personal relationships and cause immense frustration. These are some of the downsides of leadership positions:

1. You have to fire people.

A boss will likely have to let people go for one reason or another. You may need to lay off employees due to financial constraints or restructuring. In some cases, you may be forced to let go of an excellent employee or even a friend, stripping away their income and self-esteem.

It’s also painful to fire an employee because of poor performance. In some cases, the employee is trying hard to keep their job and working under a performance improvement plan; however, they’re ultimately ineffective — and it’s your job to let them go.

Firing decisions may be easier if an employee commits gross misconduct, such as theft or harassment. Still, you’ll have to deal with a stressful situation and take care to avoid violating wrongful termination laws. You may even feel guilty about taking away someone’s job (even if it’s their fault), and you might question your management skills.

2. You have to hire people.

Hiring can be a challenging process. You might receive 100 applicants but still not find one with the skills you envision, which can force you to compromise.

Even if you ask all the right interview questions, a good talker can mislead you, and you may end up with someone who’s not a great fit. And the costs of a bad hire can only add to your headaches and stress.

3. You get the blame.

When you’re the big boss (whether you’re the CEO or a department head), everything comes down to you. You have the final say, and you’re the one who signs off on strategies, programs and initiatives.

Yes, you’ll get praise for successes. However, when things go awry, it’s ultimately your fault. Blaming your staff is out of the question because their actions and overall operations are your responsibility. As the boss, the buck stops with you. You’ll have to answer to your higher-ups or the board of directors.

4. The workday doesn’t end when you leave work.

Gone are the days of the 9-to-5 workday when you could clock out, head home and forget about the job. When you’re the boss, you’re always thinking about what needs to be done next — and after-hours emergencies are your problem.

When the big picture is your responsibility, it can weigh on you long after the workday ends.

5. You have to deal with bureaucracy.

Regardless of your organization or industry, the boss must be aware of regulations related to finance, human resources, business structure, taxes and more.

For example, bosses must understand OSHA compliance, address workplace safety concerns, and comply with financial regulations imposed by the Sarbanes-Oxley Act. If you’re the boss, you’ll likely navigate rules from the FDA, EPA, IRS and a host of other government agencies.

In addition, bosses often face internal bureaucracy to get things done, including dealing with HR during the hiring process and working with finance for budget approvals.

6. Employees demand your attention.

When you’re the boss, you’re responsible for managing employees and addressing their needs while ensuring the overall operation’s seamless continuity. You’ll need to navigate employees’ life events — including illness, parental leave and other leaves of absence — and consistently monitor and support their mental health. You must also handle personnel management, support employees’ professional growth and measure employee performance to gauge salary increases and promotions.

Maintaining a diverse and inclusive company culture should be a top priority; the business you’re in charge of should be a safe and welcoming environment for all employees, and you must ensure that you’re not violating employees’ rights.

Your employees are the lifeblood of the business. Supporting them is a huge part of the job, but dealing with everyone’s needs and emotions can be exhausting.

7. Someone can always come for your job.

Being the boss can be lonely, especially when you look around at talented team members who may be eyeing your position. There is always competition for your job. As a manager, team members may try to demonstrate that they are more capable and qualified to take it.

When you think someone is gunning for your job — whether they work for you or are outside the firm — you may feel uneasy and on edge if you make a mistake. Additionally, there are fewer high-level executive positions available, which increases competition for those roles.

7 tips to reduce the stress of being the boss

Being the boss can be stressful, but it shouldn’t come at the expense of your personal goals or peace of mind. Try these seven tips to lighten the load.

1. Don’t nickel-and-dime every decision.

As the boss, you’re likely responsible for finances and profit margins. However, try to relax your focus enough to consider your employees and vendors as individuals.

“When you first start, all you can focus on is the number and what you can do to increase revenue and increase margins,” said Jeff Neal, operations manager at The Critter Depot. “You may get good at this, but you’ll get pushback from staff and vendors if they realize you’re viewing them as numbers as well.”

Neal says it’s essential to realize that the job isn’t just about numbers, but also about the people. “Once you realize how important the human factor is, you worry less about the increased margins and more about sharing margins, so that you can maintain a long-term, positive relationship with your staff and vendors,” Neal explained. “And this ultimately yields a longer, stronger business.”

2. Take a few minutes to organize your week.

Taking a few minutes on the weekend or waking up early in the morning to organize and prioritize your tasks can go a long way toward reducing your overall stress levels.

“Some people frown on it, but I always put in a few minutes on the weekend to organize my plan for the week ahead,” noted Ian Ferrell, IT and marketing director at Global Vacation Rentals. “Then, come Monday, we put things into action and regroup midweek to see how things are progressing.”

3. Learn how to delegate.

Delegating is a way to reduce your stress while empowering your staff and building trust.

“Delegating is one of the major avenues to reducing the stress of leadership,” explained Grace Baena, head of social at Daydream, an online shopping platform. “Not only does delegating tasks among your team show your trust and respect for them, it also helps leadership deal with less stress on a day-to-day basis, leaving them available to focus on higher-level work.”

4. Build a strong team.

Intentionally add people to your team with skills you don’t have so you can learn from them and lean on them to accomplish specific tasks. Also, add people with emotional intelligence and strong collaboration skills so your team can work together and figure out problems without needing to come to you for everything.

“Put the time, effort and budget into building a strong team; then empower those individuals to have as much responsibility and agency as possible,” recommended Archie Payne, president of CalTek Staffing. “When you have a well-trained and highly skilled team, you can trust them to take care of whatever work you delegate to them. You’ll also spend less time putting out fires and can instead devote your time to the high-level tasks that only you, as the business leader, can do.”

5. Know yourself and your boundaries.

As the boss, you must set clear expectations for yourself and your employees.

“This means knowing when to say no, how to say no and how much work is reasonable in a given day or week,” explained Marty Ford, president of BulletpRoof Roof Systems. “Don’t micromanage or overwork yourself or others. While it’s important to set clear expectations and boundaries, it’s also important not to overdo things by trying too hard to do everything yourself. It’s OK if your employees don’t always follow your directions perfectly; that just means they need more training.”

6. Develop a working relationship with other employees.

A good working relationship with your team can help everything run smoothly, so make an effort to build trust and foster communication. When everyone works well together, you’ll feel a lot less stress — and the business will reap the benefits.

To build effective working relationships with team members, take the time to get to know them. It’s essential to communicate in a way that encourages them to open up, so avoid being patronizing or overly critical. When it comes down to business, set clear objectives and let them know how they’ll be evaluated. And always focus on lifting employees up, even during bad times. 

You don’t have to be best friends with the people you manage. However, you should make it a point to learn about them, understand how they prefer to work, and determine how to work together to achieve optimal results for everyone.

7. Focus on your work-life balance.

Maintaining a positive work-life balance is essential for a healthy, happy life.

“The stress of being the boss is almost unbearable if you do not manage it well,” cautioned Victoria Mendoza, CEO of MediaPeanut. “To address this, I often emphasize working hours and personal time. I often do not work beyond office hours in order to maintain a good work-life balance.”

Ford agreed that it’s essential to take time for yourself. “It’s easy to forget that we need to take care of ourselves too, but we do. That might mean taking some time off from work — even if it’s just an hour or two — or it could mean getting into a routine that helps you relax. For me, this means taking exercise classes at a local gym after work on Tuesdays and Thursdays. It clears my head, makes me feel more productive during the day and helps me sleep better at night.”

Mendoza noted that if you don’t work well under pressure and fail to see the role stress plays in your life, it can quickly get the better of you. “Most of the CEOs I know would probably concede that the majority of the pressure they face does not originate from outside sources,” Mendoza said. “It’s a self-inflicted wound, and I must agree. We are our own harshest critics, and usually, it’s the self-pressure that kills us.”

As such, it’s important for bosses at all levels to find ways to manage that pressure.

Tom Anziano and Sean Peek contributed to this article. Source interviews were conducted for a previous version of this article.