There are many reasons that people want to leave their current jobs: they are unhappy with their work, they don’t feel valued, the job seems boring, they have a conflict with their boss or their colleagues, or they don’t feel as if their current job gives them the opportunity to progress their career.
Another legitimate reason to leave a job is to make more money.
With unemployment reaching record lows, the Associated Press reports that professionals who leave their employers to take a new job are enjoying salary increases that are one-third larger than raises for workers who stay put — a gap that has reached the widest point since the Great Recession.
And it makes sense. There are TONS of job openings right now. The competitive hunt for talent means that employers are willing to pay premiums on currently-employed professionals who can bring connected skills and expertise to their company. I’m hearing more frequent reports from job seekers who have posted their resumes on AH Jobs List that they are receiving regular inquiries from recruiters at competing companies.
If you are thinking of leaving your job to earn more money, consider these points first.
- Talk to your boss about getting a pay raise.
If you like your job and want to stay but feel you aren’t being paid what you are worth, make the argument as to why you deserve a bump in salary. With unemployment so low, employers don’t want to lose valuable talent and there’s a good chance they will accommodate your request.
- Don’t quit until you have a new job.
There are some obvious reasons for this. Of course, the most important is that you don’t want an interruption in income. But also, you hold greater value as a job seeker being currently employed. Psychologically, recruiters like to feel as if they were able to ‘poach’ talent from another company.
- Don’t be afraid to negotiate when you are being made a job offer.
Remember this: you are the one taking the risk of leaving a comfortable job to start a new position in an unfamiliar company. If you can negotiate a signing bonus, go for it. Need some extra vacation days? Ask for them. Do you want to have flexibility in your work schedule? See what they can offer.
- Learn job seeking skills.
For many currently employed professionals, you probably haven’t had to look for a job in a while. Dust off that resume and work with a professional resume writer to update your skills, experiences and accomplishments. There are specific resume formats that will help you get interviews more quickly. (I recommend certified resume writer Ruth Pankratz at www.gabbycommunications.com) Also, consider attending an upcoming AH Jobs List Bootcamp. You can sign up here.
- Network! Contact people you trust and let them know you are considering a job change.
Contact clients, vendors, former bosses and colleagues, anyone you can think of who can testify to your skills and experience. Also, start participating in a professional association. Professional associations have terrific networking events, professional development seminars and other events. Associations are great ways to connect with industry/career peers to learn about new opportunities.
With all of these tips, you are ready to start the job search and earn your next big pay raise. Good luck!