If some corporate position is the god of your life, then something terrible occurs within when it is no longer a future possibility. If your career, however, is simply a part of God's plan and you keep it in proper perspective, you can handle a demotion just as well as you can handle a promotion.
It all depends on who's first and what's first.
Breaking the magnet that draws things ahead of God is a lengthy and sometimes painful process.
There is a line found in the Jewish Talmud that puts it well: "Manis born with his hands clenched; he dies with them wide open. Entering life, he desires to grasp everything; leaving the world, all he possessed has slipped away."...
Just remember: Whatever is in first place, if it isn't Christ alone, it is in the wrong place.