Effective sponsors can help catapult junior talent into top management tiers, an good proteges can greatly expand the reach and impact of senior leaders - but the relationship works only when both parties recognize that it's a mutually beneficial alliance, a truly two way street.

Sponsors should among other things, advocate for their proteges promotions, coach them, call in favors for them, and help them make connections. Proteges must be loyal, contribute 110% and bring complementary skills and networks to the table. No matter what your career level, such relationships are lifelong projects to be carefully cultivated, consistently nurtured an periodically refreshed.