Long-term career planning significantly boosts your chances.
Going to a job interview when you’re not necessarily looking to change jobs might feel counterintuitive—but did you know that you have a much better chance of increasing your salary by switching jobs than by waiting for the yearly salary review?
After more than ten years in the recruitment industry, we at Worko have observed that it’s better to attend one interview per month over a year as a preventive measure than to attend twelve interviews in a single month when you’re forced to change jobs.
If you’re already in a comfortable position at work, you’re making the right decision by continuing to interview with multiple companies simultaneously. This allows you to open up to more and better opportunities by exploring what’s out there.
There is currently a significant skills shortage on the job market in the IT and Engineering industries. Many companies are compelled to reach out to passive candidates who already have jobs to find employees, offering them better packages than they currently have.
This means that if you possess sought after skills, you are incredibly attractive, and it’s likely that employers are already competing for you. Since many companies want you, the salary offers will also increase—the harder you are to acquire, the more lucrative the offers will be.
It’s a recruiter’s worst nightmare to compete against another recruiter, but this works in your favor as you essentially just need to act as a broker in the bidding war while companies push for the best possible offer. In situations where you have multiple offers on the table, you hold the power and can let hiring managers take on all the stress that comes with the negotiation process.
And if you don’t get exactly what you want, you can calmly continue your search—you already have a good job!
・ You know what’s available on the market
・ You’re in a better negotiating position, completely stress-free
・ You’re well-informed and prepared to resign when your dream job comes along
A market study by ADP shows that those who change jobs see twice the salary growth in a year compared to those who stay in the same position.
Arguing for a raise in your current role at the same company rarely results in more than a few extra bucks per year. That’s why it’s important to talk about salary under the right circumstances: when you already have a job you’re happy with and multiple offers lined up, allowing you to pick the one you like most.
A long-term and proactive career approach means that before you’re ready to change jobs, you’re active in the job market and steering your career in the direction you want.
You never know when your dream job with exciting projects and fantastic benefits will come along, and in today’s competitive candidate market, there’s almost always someone willing to pay you more. That’s why this proactive mindset is one of the best things you can do to maximize your salary.
As with all problem-solving, the first step is always to identify every part. Make sure to clarify for yourself which preferences you don’t want to compromise on in your next workplace and which are less significant.
Do you want to work remotely, or do you prefer an office environment? Are you open to working at a startup, or would you rather join an established company with specialist colleagues?
The more you know about your preferences, the more targeted you can be, saving time by not investing too much in companies that don’t align with your philosophy.
As mentioned above, statistics show that those who change workplaces have increased chances of earning a higher salary. This is because you can often negotiate your starting salary, but then you will fall into the company’s template, which states that your annual salary increase is only a small percentage of what you already earn. Therefore, it’s more effetive to change your workplace to increase your pay.
In these challenging times for recruitment, employers are eager to retain their employees to avoid the battle for candidates. It can therefore pay off to have a conversation with your boss and share that you’ve received a new offer and are prepared to resign unless they can match the new salary. This gives your boss a chance to make a counteroffer, which could result in a raise without you needing to change jobs.
Want help to find new job opportunities? Plan your career with us, and we’ll match your skills, values, and timing with the right company. We help you take the next step in your career—at a time that suits you.
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