Most readers of this column are still moving up the administrative career ladder and see the presidency as their crowning achievement. Few except presidents have probably given much thought to what comes after the presidency. I'll offer some comments about what can come next, but they are of course limited by what I've personally observed. Other former presidents are welcome to offer their comments on life after the presidency.
First-time presidents of course often move on to second presidencies, and some continue this pattern into third and fourth presidencies. Some conclude this stretch by working as interim presidents at institutions that need to fill the gap between leaders with people who are experienced but not interested in long-term commitments. These repeat presidents will often tell you that they learned a great deal in their first presidency and were glad for the chance to do it differently the second time around.
For others, the presidency (first or subsequent) may be so satisfying and all-consuming that, even when they leave, they don't really want to go far. They have enormous loyalty to the institution, they are linked to it by multiple relationships, and for a variety of reasons (some more altruistic than others) they seek ways to continue to serve their institutions. On their own, or encouraged by donors or board members, they may offer to stay on in some capacity as "former president." In many institutions, they take the job of chancellor, or some other title whose place in the organizational hierarchy is highly ambiguous.
For the new president, having the former president around may have the potential to be very helpful, but my impression is that more new presidents are horrified than delighted by this prospect.
If the former president helps to cultivate and solicit major donors, the new president can look like an ineffective fundraiser. If there is conflict on campus, factions can seek the previous president's support. And the board may continue to look to the former president for leadership, undermining the new president.
As a search consultant, I have seen many searches undermined, and strong candidates made extremely nervous, by the suggestion that the outgoing president will be just a stone's throw away. Trustees should be very aware of this hazard to leadership transition and should help the outgoing president to really go out! If the new president wants the partnership of his or her predecessor, the new president can ask; it is the board chairman's job to make sure the new president makes this decision.
Some people leave the presidency hoping to do something different. For these people, a post-presidential career can go in various directions. Many want to move to an education-related foundation where they can build on their deep understanding of educational issues and their extensive network, and where they can give money away instead of asking for it. Similarly, some former presidents join one of the professional associations that serve higher education. These are certainly natural steps, but there are probably not enough of such positions to go around.
A key question in thinking about a post-presidential life is whether a former president is willing to be anything other than the head of his or her next organization. There are some presidents who have moved into some kind of vice-presidential role and been quite content, but soul-searching is essential before making this step. Be sure that you will really be satisfied and comfortable without the limelight. Search committees will also be asking themselves whether a former president will be the best fit in a second-tier role, and the president may wonder whether a former president in a second-tier role will in any way challenge or undermine his authority. The move can be successful, but I suspect that it is the rare person who will make this transition smoothly.
Consulting on education-related matters is another attractive option for former presidents. There are many education search consultants who are former presidents (in my group at A.T. Kearney Executive Search, for example, four of the five vice presidents of the company are former presidents or chancellors). We draw on our experience as presidents and as other senior officers when we do searches for those same positions at other institutions, and we use our networks to find and evaluate candidates. Other former presidents become consultants on strategic planning, board relations and governance, fund raising, etc.
One of the questions for presidents who are interested in consulting is whether to join a firm or be a solo practitioner. Joining a firm may mean a regular paycheck and a source of projects, while going solo means keeping more of the revenues but having to generate business on your own. At a firm, you'll have colleagues; on your own, you'll have greater autonomy. Some people start out by joining a firm and then, once they have learned what it's like and what it takes to be a consultant, move out on their own. (Learning all this is a fascinating topic, to be saved for another column; at this point, I'll just say that it is fully and fundamentally different from being the president of an organization.)
Presidents who leave office in the midst of conflict, earlier than they had expected to leave, face a different set of issues. Some decide to seek a different line of work, and it's my impression that they more quickly put the problems of their presidency behind them. If they have had an otherwise solid career, the one difficult experience can be put in that broader context where it carries less importance.
Those who left a presidency in conflict and want another presidency may find their path more difficult. They will be asked to tell the story of their early departure in each presidential search process that they enter. In addition, focusing only on another presidency narrows the range of options and thus may be more likely to lead to disappointment. Having said that, there are many second-time presidents who persisted after an unsuccessful first presidency and have done just fine.
And finally, there is retirement. For college presidents, as for many in the academic world, this can mean a lot more than improving a golf game -- the chance to teach again, the chance to take a course again, the chance to write the long-postponed book. But I suspect that the decompression process for a former president can be quite taxing. Not only do they go from a world of relentless demands and high visibility to a slower-paced and more private world, but they also go from being relatively well-staffed and supported to doing their own typing, cleaning, phoning, research, etc. The change can be a shock.
So clearly there are many good lives to be lived after a presidency. I'd welcome the comments of others on what they've found and learned as they've taken this step.
