Self doubt is an age old struggle for humans.
Ancient texts like the Bible render vexing depictions of troubled souls contending with their inner critics. The very best novels, films, and stories involve heroes’ apprehension around their lack of adequacy, often engendering refusal to answer an important call to action in the hero’s journey.
So as a civilization, we never outgrew insecurity. We just have a new name for it. We call it impostor syndrome.
Intellectual phonies
The term Impostor syndrome (or impostor phenomenon) was first used by psychologists Pauline Rose Clance and Suzanne Imes in 1978 when they researched the prevalence of high-achieving women who believed themselves to be “intellectual phonies”.
According to their research paper, self-declared impostors “persist in believing that they are really not bright and have fooled anyone who thinks otherwise.” Since then, additional studies have shown that impostor syndrome widely affects both women and men.
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This fear of being found out to be a fraud is more pronounced than ever.
The advent of social media, reality TV shows, and extreme stardom contribute to our feelings of not measuring up. As Pinterest habitués, we’re constantly pursuing the holy grail of perfection in everything we do.
Since we live in a performance-driven culture rife with technology-augmented, superhuman achievements, our standards of success have heightened. We’re now smarter, faster, better looking, more productive, and more informed than ever.
Yet, despite groundbreaking advancements in nearly every field, impostorism is on the rise. An oft-quoted study from the International Journal of Behavioral Science reports that 70% of people struggle with impostor syndrome.
Not in Kansas anymore
You may be able to relate to this enduring struggle with self confidence and impostorism. I know I can.
Last fall, I attended a conference for financial advisors. Crowds of attendees gathered to discuss their business challenges and catch up on industry insights. Although most people were welcoming, I couldn’t help feeling out of place.
As a newcomer to my industry, it’s often hard to feel like I belong. The polished culture of intellectual prowess perpetuated by Wall Street and veteran advisors can be rather exclusive.
On top of being a female minority who also happens to be young(ish) with small children at home, it seems all the cards are stacked against me. Like Dorothy in the Wizard of Oz, I realize that I’m “not in Kansas anymore”.
Modern masquerade
Recently, I got some reassurance from listening to podcasts. After consuming numerous hours of interviews with leaders from different industries, I discovered that self doubt is pervasive even in successful circles.
The business world--and life in general--is merely a modern masquerade of imitators aspiring to be like someone else. We're all impostors in our own right. We may be an expert in one domain but we're surely a novice in another. Click To TweetI realized that the business world–and life in general–is merely a modern masquerade of imitators aspiring to be like someone else. We’re all impostors in our own right. We may be an expert in one domain but we’re surely a novice in another.
This is evidenced by the proportion of highly successful people who admit to feeling like a fraud. Many household names like Maya Angelou, Tom Hanks, and Sheryl Sandberg have identified with the impostor experience. Behind the coveted shroud of accomplishment is usually a hidden shadow of insecurities.
Financial implications
Nonetheless, impostor syndrome can have massive financial implications. Here are three ways we can suffer financially from impostorism.
1. Missed opportunities
When we allow our insecurities to define our reality, we shrink back from opportunity. Our fear of fraudulence hinders us from giving our best to the project at hand. We never fully test our potential in taking the kind of risks necessary to make big leaps in our careers. Instead, we become like the hero refusing to answer the call, walking away from opportunities to avoid failure.
2. Undervaluing our abilities
Impostor syndrome also impedes our ability to take credit for our accomplishments. People struggling with impostorism often fail to attribute their success to their own capabilities, relegating it instead to other external factors like luck, charm, or glitches in the system.
When we don't internalize our successes or believe in our own abilities, we yield to someone else's opinion of what we're worth. We cede in salary negotiations, get passed over for promotions, and undercharge for our time. We sell ourselves… Click To TweetWhen we don’t internalize our successes or believe in our own abilities, we yield to someone else’s opinion of what we’re worth. We cede in salary negotiations. We get passed over for promotions. We undercharge for our time and services. We sell ourselves short.
3. Sabotaging our success
More seriously, impostor syndrome can lead to self-sabotage. The opposite of self-entitlement, self-sabotage manifests itself in destructive behaviors like procrastination, self-medication with drugs or alcohol, comfort eating, interpersonal conflicts, and other addictions.
An article from Psychology Today explains, “These actions can be especially dangerous because they’re so subtle — you may not notice the extra cookie you’re taking or the additional drink you want to order before last call — and, at the time, they may even appear to calm you down and relax you. But as these actions increase, self-sabotage builds and can create a deep well of self-defeat that’s hard to climb out of.”
Self-sabotage can carry over into our professional lives as well. When we feel like an impostor who will never achieve legitimacy–or who doesn’t deserve to do so–we may subconsciously vandalize our careers and professional reputation to stay within the comfort of failure. The Psychology Today article suggests that for some, it feels better to fail than to succeed. Unfortunately, failure can cost us–literally and figuratively.
The human need for validation
I believe impostor syndrome stems from our deep human need for acceptance and belonging. When we can identify with others on a similar path as ours, we feel validated and less alone. Research has shown that belonging is a crucial part of finding meaning in life. As social beings, we crave validation that affirms our sense of belonging.
Unfortunately, when we receive validation and manage to attain a certain level of confidence, it usually doesn’t last. Confidence is elusive. As Melody Wilding, a high-performance coach, writes, “No one gets the luxury of living without fear–not even confident people.”
I wish this blog post was about how to overcome impostor syndrome but alas, it’s not something we can easily abolish. It’s been around since the beginning of times. It’s probably not going away anytime soon.
However, there are methods we can use to deal with impostor syndrome. We can reduce the detrimental effects of not feeling good enough. I’ll cover a variety of these techniques and talk about how I personally deal with impostor syndrome in my next post. Stay tuned!
