.ElaineWelteroth: “No question: Leaving the magazine business and working for myself has been an exponential leap in terms of earnings. And there is limitless earning potential. But I wouldn’t be here without magazines”
Photo-Illustration: by Stevie Remsberg; Photo: Getty In less than a decade, Elaine Welteroth leaped from her first job at Ebony to beauty editor gigs at Glamour and at Teen Vogue where, at age 29, she was named the youngest editor-in-chief in the history of Condé Nast. But after Welteroth had been at the helm only a year and a half, Condé folded Teen Vogue’s print edition. Welteroth hardly missed a beat.
No question: Leaving the magazine business and working for myself has been an exponential leap in terms of earnings. And there is limitless earning potential. But I wouldn’t be here without magazines. Ultimately that’s been a platform for me to go off on my own and earn more than I ever could within the confines of a corporate structure or in the media business.
Before my biggest negotiation in corporate America, I was terrified. It was under sort of precarious circumstances, and I didn’t have a lot of time to think about how to go into the negotiation. I actually ended up calling a white male friend the night before, and he coached me. He actually couldn’t really understand why I was panicking; he couldn’t fully empathize with the fear of going into this conversation.
Listen, I’m still Frugal Franny. I’m like, how is coffee $5? I like oat milk, so sometimes it’s $7. If I splurge on coffee? Girl. I will hold onto that coffee for two days. If I don’t finish it, I’ll put it in the refrigerator and pull it out the next morning and drink it. I do not throw anything away. I have always been a saver. I continue to live beneath my means because I like watching my wealth accrue. I like watching the numbers grow in my account.
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