Much ado about mentors.

TLDR

The study aimed to assess how mentor–protégé relationships influence business careers. The authors surveyed executives from an international management firm, collecting data on compensation, personal demographics, and current roles. Two‑thirds of respondents reported a mentor, and those with mentors were better educated, earned higher salaries earlier, followed clearer career plans, and reported greater job satisfaction, with mentors typically being senior, influential executives who value talent development.

Abstract

An international management firm conducted a study of executives that included questions regarding compensations, personal data, and current position. It was of special interest to determine the effect of mentor and protege relationships on business careers. Of the individuals surveyed, two-thirds reported a relationship with a senior person who took a special interest in their career, during the first five years of their professional development. In general, executives who had a mentor are better educated, earn more money at an earlier age, more apt to follow a career plan and report high job satisfaction. The majority of sponsors are older businessmen holding positions of authority and who feel that personnel development and management succession are key responsibilities. The following characteristics of a mentor are judged most important: willingness to share experiences, knowledge of the organization, organizational power and respect from peers. Mentor-protege relationships frequently develop into lengthy friendships which in turn encourage young executives to eventually sponsor their own proteges.