The Job Market Is Hot! Is It Time to Make a Move?
Happy almost Fall! Here in New York it already feels like it as the temperature has dropped and the days have shortened. I don’t know about you, but I always regard Fall as a time of new beginnings with that “back to school” feel. It feels like the New Year and in the Hebrew calendar it is in fact the New Year with the High Holidays having begun last week.
Starting this past Spring with the job market surging, my clients began receiving multiple offers, providing them the leverage to drive their salaries higher and negotiate other details of their jobs to better fit their ideal. We continue to be in a sellers’ market, with 10 million job vacancies as we speak. It is such a fruitful time for job-seekers following such a terribly fallow year.
So what does this mean for you? As “The Great Resignation” continues into the Fall, you may want to bring more clarity to the question of what you want from your work and whether your current job is providing as much fulfillment – and compensation – as you’d hope.
I encourage you to think hard about your career right now and ask yourself a series of questions to help you decide if now is the right time to consider a move. It’s always a great idea to take some notes or do some journaling to help memorialize your process. With notes in hand, you might gather your personal board of directors, either together or separately, or hire a career advisor to help you decide how and where to start your process.
Here are some questions to get you started:
The Content of My Job:
Most days, do I wake up excited to go to work?
Does the work play to my skills and strengths?
Do I feel, overall, that my ideas and recommendations are respected and considered?
Are there other roles and/or projects I should raise my hand for that would improve my job and build skills?
Do I have good friends at work?
Are my boss and I a good team? Do we work well together and foster mutual respect?
My Compensation:
Do I believe I’m being fairly compensated? This should not be a subjective question since you can research salary information for your job, often to an exact degree.
Are there other things I’d like to negotiate outside of compensation? This might include more vacation time or partial remote working.
Is this the right time to ask for a raise?
My Future:
Does this job fit with my long-term career plan?
-If so, could this be the right time to get promoted?
-If so, are there skills I can build right now to enhance this role or help me get the next one? Might my employer pay for some further education?
If this job no longer fits my ideal career path, what can I do to help myself identify my best next step? Are there specific people, research, coursework I can use to help me?
Some Strategies to Improve Things:
If you feel confident there is room to negotiate a better package, whether compensation alone or additional items such as paid vacation, part- or full-time remote work, etc., here are the specific steps you should take:
Do your homework: Research salary level for your company and role and meet with your boss to discuss. To prepare, you want to make the business case for better compensation and/or benefits, directly tied to what you’ve achieved in your job and how a new arrangement would benefit the company.
Consider looking around to get a feel for growth roles, in terms of both substance and compensation. Benchmark those roles and consider discussing them with your boss.
Talk with people in your field and at other companies to get more data on compensation and opportunities.
Feeling fulfilled in your job and knowing you’re on the right track in your career is beneficial not only to you but to the company you work for. Employers are acutely aware that their people have options, and it’s smart practice to continuously evaluate your path and your worth as you go through your career.
As always, keep me posted on your progress and let me know if I can help.
Other Reading, Listening & Watching from Allison Cheston
Finding Brave Podcast with Kathy Caprino
What College Grads Need To Do Now To Land Great Jobs Post-Pandemic
Podcast
Video
More on Negotiation:
The Truth About Salary Negotiation for Black Women
What to Know About Salary Negotiation Before Accepting a New Job