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PayPal’s CEO, who now earns millions, still has his first-ever compensate check for $208 — here’s his recommendation for climbing to the top

Success How we Did It podcast
Samantha Lee/Business Insider


Dan Schulman first paycheck edit
Dan Schulman’s first paycheck was just $208, and now
he’s worth millions as PayPal’s CEO.

Dan Schulman

PayPal CEO Dan Schulman is now worth millions, but he started his
career with a paycheck of $208. He made a medium income and
was an partner to an comment executive at ATT for his
first job, in 1981.

He stayed at ATT for 18 years and worked his way up to run a
organisation of 40,000 people, overseeing the core consumer business. His
executive bureau was so big it had its own bathroom. Schulman
went on to run Priceline, Virgin Mobile, and now PayPal.

Schulman says his corporate stand came down to courage and a
formidable personal moment that served as an critical career
lesson. “Eventually, by stability and some fitness and a lot
of tough work,” he “rose to turn the youngest member of the
handling group,” Schulman told
Business Insider on the podcast, “Success! How we Did It.”


Dan Schulman
Schulman
in 2015.

Scott Olson/Getty
Images


But while he was at ATT, his sister died; Schulman took a
leave of absence.

When he returned, he found his organisation had not only remained loyal,
but they had finished an implausible pursuit but much oversight.
Schulman done certain their tough work was recognized, and that he
didn’t steal credit.

“I satisfied my organisation had really hung in there with me and we just
satisfied that what we had achieved was totally what they
had accomplished,” Schulman said.

“I gave them full 100% credit. we consider what we schooled there is
giving credit to others actually attracts some-more and some-more people to
your organisation given they wish to be a partial of that organisation … In many
ways, care is about defining reality and moving hope,
but if you have these good people around you and they know that
what they do is going to be recognized, it can be incredibly
powerful.”

Below, listen to Schulman tell the story of how he took three
companies open during his career, or keep scrolling for a
twin detailing his arise by ATT from a $208
starting paycheck.

Subscribe to “Success! How we Did It” on Acast or
iTunes. Check out prior episodes with:

  • Former Apple CEO John Sculley

  • Angel financier Jason Calacanis

  • Former Microsoft CEO and Clippers owners Steve Ballmer

  • Box founder and CEO Aaron Levie

Here’s the partial of the talk wherein Schulman discussed his
initial salary:

Alyson Shontell: Your career got started, it
seems, at ATT. In the early ’80s you assimilated — and did we read
that your first pursuit was $14,000 pay?

Dan Schulman: Yeah, yeah.

Shontell: So that was at ATT?

Schulman: we consider my weekly paycheck was
something like [$208], biweekly or something net. we still have it
somewhere. we spent the first 18 years of my career at ATT
and it was a smashing place that kept me moving all the time. I
meant we started off as entrance turn a position as you can get at
ATT. we was an associate comment executive, which means we was
an partner to an comment executive, and comment executive was
just the peddler at the time. Then we became an official
comment executive and then a sales manager and then a product
manager and eventually, by stability and some fitness and a
lot of tough work, rose to turn the youngest member of the
handling group.

we ran ATT’s consumer business, which at the time was a $22
billion income stream, $8 billion of EBITDA and 40,000 people or
so and we was 39 when that happened. And then, to my parents’
chagrin, given they suspicion that was like the best pursuit in the
world, this big bureau that actually had a lavatory in it and
they couldn’t suppose anything some-more that their son could do, I
left to join a startup, an internet startup, which really
confused them.

Shontell: You had a lavatory in your office?
That’s how you know you’ve done it.

Schulman: we did. Never given and never wish one
there again, but yes, that was a big partial of being a senior
officer at ATT.

Shontell: But that’s a really considerable path. I
mean, it’s 18 years but you start in this kind of humbling job,
you have your first paycheck still that was [$208] and then you
turn its contingent president, handling 40,000 people. What do
you consider are the stairs that you took that were the most
critical to help you stand that corporate ladder?

Schulman: we do consider there’s no surrogate for
really tough work. But we consider the thing that launched my career
at ATT, we had a flattering comfortless thing occur in my family. My
sister died and we was heading a big organisation at the time and we had to
take time off. It was a difficult, formidable time and when we came
back, we satisfied my organisation had really hung in there with me and I
just satisfied that what we had achieved was totally what
they had accomplished. we gave them full 100% credit.

we consider what we schooled there is giving credit to others actually
attracts some-more and some-more people to your organisation given they wish to
be a partial of that organisation given they know that it’s a organisation that is
going to work together as one team, nobody’s going to try to take
credit over somebody else. In many ways, care is about
defining reality and moving hope, but if you have these great
people around you and they know that what they do is going to be
recognized, it can be impossibly powerful.

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