10 Steps to Asking your Manager for More Responsibility

The key to personal growth and career success is not just sitting back and coasting through each day, it is through constantly pushing yourself to be better by navigating new challenges, learning from those around you and…you guessed it, taking on more responsibility!

Managers have a lot on their plate, and they may need a reminder to help you work on growing your skillset. Below are ten steps to help you ask your manager for more responsibility:

1. Assess your Current Workload:

When seeking more responsibility, first take a hard look at your current workload. Are you effectively managing your existing responsibilities and meeting (ideally exceeding) expectations? Demonstrating competence and reliability in your current set of initiatives is essential before making a case to take on additional responsibilities.

2. Understand your Manager's Priorities:

A manager’s priorities and goals are usually positioned more broadly at the team level. A best practice for requesting additional responsibility is to identify areas where you can align your goals with the team’s overall objectives and collective success.

3. Schedule a Meeting:

Your manager is not able to provide you with additional responsibility if they are not aware you are interested in taking on new challenges. If you do not already have a recurring one-on-one meeting with your manager, schedule one! This way you and your manager will have dedicated time for an open discussion about your role and trajectory.

4. Highlight your Achievements:

When sitting down with your manager, share your accomplishments and contributions since joining the team. Provide specific examples of how you completed your project work within deadlines, improved processes, and provided additional value.

5. Communicate your Intentions:

Be clear and straightforward about your intentions. Express your enthusiasm for your role within the team and your desire to take on more responsibility to contribute further to the team's success.

6. Express your willingness:

Convey your readiness and willingness to learn and grow. Emphasize your commitment to personal and professional development and how taking on more responsibility will be aligned with both your career goals as well as the goals of the team.

7. Offer Solutions:

Be proactive and present specific responsibilities and projects where you believe you could make a difference. By offering your own solutions and not putting the onus solely on your manager, it will help demonstrate your thoughtfulness and readiness to take on new challenges.

8. Seek Feedback:

Once you have made your case for asking for additional responsibility, ask your manager for feedback on your request, specifically inquiring if there were any concerns or reservations on their part. This open and collaborative dialogue will allow you to address issues or concerns constructively and together you and your manager will be able to identify the best path forward.

9. Be Patient and Respectful:

Recognize that your manager may need time to evaluate your request and determine the best way to plan and potentially reallocate responsibilities within the team. A change likely won’t happen overnight and it could be a gradual shift over time rather than a significant role change.

10. Continue to Excel:

Regardless of the outcome, continue to excel within your current responsibilities and maintain a strong work ethic. Reinforcing your consistent and reliable performance will eventually lead to future opportunities and success.

The journey of requesting more responsibility is a thoughtful and strategic process. By showcasing your value, aligning your goals with the team's objectives, and demonstrating your commitment to growth, you will be able to make a compelling case for additional responsibilities.

Thursday lunch presentation - short selling

Recently our Associate, Emily Van Laarhoven, gave a global presentation to our team on Short Selling - check out some highlights below!

What is short selling?

• The opposite of going long, short selling is anticipating that the price of a stock is going to drop rather than go up. 

• In order to do this, you would need to borrow a security and then sell it on the open market, planning to buy it back later for less money.

• You profit when the security drops in price, rather than when the price increases.

Why is it risky?

• There is a potential for unbounded losses because there is no limit to how much the price of a stock can rise, whereas with long positions, the most that can be lost is the amount that was paid (if the price of the stock goes to $0.00).

What is a short squeeze?

• If the number of people trying to short the security exceeds the available shares of the security, then we can run into a short squeeze.

• Short sellers are “squeezed” out of the market.

• Short sellers will struggle to borrow the security, which they need to do to avoid failing to deliver on the short sell.

• If the short sellers can’t deliver on the short sell via borrowing, they are forced to buy the security (at market rates). This is called a “buy-in.”

• This is likely to happen when:

• Few shares available (small market cap, low float).

• Borrow rates are high.

• Famous examples include Game Stop in 2021, Volkswagen in 2008.

What is a locate?

• Most markets have regulations requiring proof that the seller is able to acquire a security before short selling it. This evidence is called a “locate.” Locates show due diligence indicating reasonable belief the sale can be delivered. 

• Unlike a sell order, locates are not contracts - locates do not need to be executed. In fact, only a small percentage of locates result in orders.

• Components of locate:

• Amount approved.

• Indicative Rate offered on that amount.

• Those who wish to short sell will “shop around” for the best rates by getting locates from multiple financial institutions and then may decide to execute the short sell with the firm that offers the most competitive terms.

We hope you find this information as interesting as we do. Thank you Emily for a great presentation!

Announcement: Galatea is Certified as a Minority Business Enterprise!

Galatea is pleased to announce that we have recently been certified as a Minority Business Enterprise (MBE) by the Greater New England Minority Supplier Development Council (GNEMSCD)!

Raj Basu, Galatea Associates Managing Member

---

About Galatea Associates

Galatea Associates, LLC is an international, minority-owned software engineering organization focused on building mission critical software applications for capital markets.  We are headquartered in Boston with offices in London, Tampa, and Durham. 

About the Greater New England Minority Supplier Development Council (GNEMSDC)

The goal of GNEMSDC is to provide a space that promotes and advances business opportunities for certified Asian, Black, Hispanic and Native American businesses by providing a network that connects these businesses with corporate members. The GNEMSDC is honored nationwide and recognized by organizations ranging from major U.S. corporations to public agencies and nonprofits.  

The Certification Process

In order to qualify as a Minority Business Enterprise, at least 51% of the business must be owned by minority individuals. Businesses must submit an application to the GNEMSDC and complete an extensive business review to become a certified MBE. For Galatea, this included a pre-certification webinar, an interview with our Managing Member, Anirban (Raj) Basu (photographed above!), a virtual office tour and supporting documentation. The GNEMSDC has a very thorough process and high standard when certifying businesses to include in their MBE community. 

Looking Forward…

Galatea is very excited to be officially recognized and certified by the GNEMSDC and to align our values and high standards to an organization whose mission is to expand business opportunities for MBE’s and ultimately increase economic opportunities for the minority business community.

Navigating the First Year as a Galatean

With graduation season behind us, many graduates are now entering the labor market and embarking on new career paths.  But what does it mean to make the transition from university to industry and what does the transition look like?  We sat down with two of our Associates who have recently completed their first year with Galatea to have a look into their experiences, how they have grown and what advice they would give to other recent graduates.

---

Matina Mahasantipiya

Tell us a little about yourself

I’m Matina, originally from Thailand but graduated from the University of Florida in 2022 with a degree in Computer Science. 

What brought you to Galatea?

When researching companies, Galatea aligned with my interests in tech and finance. I also learned about the startup culture and as a new grad, I knew I’d enjoy a more casual environment. A year later I still do! Genuinely, I do feel lucky in finding a balance of interesting, challenging work and a fun office.

What type of project are you currently working on? 

My team is building a platform for our client that supports their customers in sending and receiving payments (think ACH transfers, Venmo, etc.). We just integrated the platform with a sister platform and are focused on laying groundwork for a new phase. Our team has participated in all phases including, architecture work, back-end development, front-end development, testing, and more. The project is a little bit of everything which is why I enjoy it!

What is the most valuable lesson you have learned within this past year?

Galatea has helped me to learn the value of self-initiative and responsibility. Not every workplace has this structure, but Galatea leaves a lot of room for Galateans to self-manage. It is up to the individual to be mindful of their own productivity and contribution and there are resources such as mentorship, discussions and training to help provide support along the way.

What lessons have been unexpected?

Building relationships with your team and clients provides you with a tremendous amount of resources. Additionally, it is important to be adaptable because sometimes there are going to be things that are out of your control.

What are you most looking forward to learning next?

When I joined my team, they were at the very end of the architecture phase of the project so I missed working on a majority of that part of the project.  Now we are circling back to the architecture phase on a new section of the project and I am really looking forward to learning about this aspect of software development.

What advice would you give to graduating students embarking in their careers?

If you’re like me, you will probably start off feeling like you don’t know anything but it’s ok to not know everything from the start (no one expects you to!). However, it's also your job to be proactive in finding the answers, be it self-learning, testing something out, or asking others on your team. It is all part of the growing and development process and everyone on your team has the common goal to get you up to speed as fast as possible so don’t be afraid to ask questions!

---

David Spinrad

Tell us a little about yourself

My name is David, I graduated from Northeastern in May 2022 with an Industrial Engineering degree. I really enjoyed the computer science aspect of my academic and co-op projects, so I pivoted away from traditional engineering and started writing code!

What brought you to Galatea?

Galatea contributes on a number of unique and distinct projects in the financial sector. Which means there is constant exposure to new concepts, technologies, and goals. I find that there are always opportunities to learn and grow. Additionally, this diversity of work cultivates sharp professionals, who are as knowledgeable as they are experienced. I wanted to be a Galatean because of the diversity of projects, and also to learn from those who have years of experience successfully navigating the industry. 

What type of project are you currently working on? 

I’m currently working on a position keeping platform. We are making software for traders so they can receive accurate, real time results on their profit and loss after making trades in the market. You can think of it like your account in Robinhood, we’re creating software that helps you keep track of your portfolio.

What is the most valuable lesson you have learned within this past year?

Galatea encourages ownership as one of its core values. I have experienced first hand how ownership facilitates satisfaction in your work. On my projects, I have come to further appreciate the broader picture, the small details, the hiccups, and the successes because I am invested in and completely own my work on my project.

What lessons have been unexpected?

 We must be precise to communicate about a majority of details in this sector. It takes effort, carefulness, and mindfulness to accurately communicate details about the projects Galatea works on. The details for some stakeholders may not be a concern to others in different roles on the project. I’ve learned to be more thoughtful on the specifics of a conversation when communicating with different stakeholders.

What are you most looking forward to learning next?

Recently, I have been building a new service  in our system from scratch and it's getting ready for deployment. I am excited to explore how we can improve the performance of what I’ve built while taking on new requirements.

What advice would you give to graduating students embarking in their careers?

From someone who pivoted late in their collegiate career, my advice is: be curious! Curiosity leads to details and specifics, and these details are where understanding and confidence bloom from. Don’t be afraid to ask questions!