Securing The Perfect Job Package For You
Is a new job going to further your career? Would a new position bring with it more challenging and fulfilling tasks? And that age-old question everyone considers when job hunting, money. In particular, how much of a monetary ‘upgrade’ am I likely to receive from a switch of employer. If you are looking for better opportunities, we have compiled what we believe to be the 3 key factors which can help ensure you are getting the package you are worth from your next job move.
HOW THE CURRENT MARKET LOOKS
In a good economic market, we traditionally see 8-10% salary increases. Given the tight job market and economic climate alternative factors, such as job security are taking more prominence in decision making and we have seen increases that average at c5%. However, for skills which are in short supply there can be micro-economies and the potential to push this to higher levels.
It’s important to manage your own expectations and not disregard the wider economy and market when think about your potential salary. Play the long game as starting salary is not the only negotiating point, reviews and where you could be in next 12 months+ can have as much importance.
HOW MUCH YOU ARE CURRENTLY EARNING
In order to make sure you get the right step up make sure you are clear on exactly what you get in your current total package (not just salary) and that way you can ensure exactly what additions to your total compensation package such as car, bonus, stock options, pension, private health, holiday allowance, etc are included. Some areas to consider are: salary , bonus, stock options, pension, private health, holiday, allowance, car etc.
It is also important to consider that while companies understand that money is important, they will seek a candidate’s decision based on the overall job challenge, expected career path and career development – and not on an immediate boost in pay . We would therefore recommend that rather discussing this directly with a prospective employer it can be easier for your recruitment consultant to negotiate this on your behalf as a third party in the process.
HOW WELL YOU PERFORM IN THE INTERVIEW
This is the most important component to determining what amount of income a future employer will offer you. If you absolutely ‘knock their socks off’ in the interview, the management team will often go above and beyond to bring you on board. It all really depends on how well you “sell” yourself in the interview.
Preparation is key to your success in the interview so it is therefore imperative you spend the time to understand the nature of the job role, get a firm grasp of what is needed to excel at the job, and try to find out the culture of the hiring company. Company culture is sometimes hard to research online. However, researching the brand/products will give you an indication of the type ‘vibe’ of the company. Furthermore we suggest that if the company has a high street presence that you go into the store (or if online, then their website) and purchase a product so that you can experience the customer journey first hand and familiarise yourself with the company process.
To conclude, we recommend to always explore the opportunity first before looking at the financial package. Don’t base whether or not you will explore an opportunity purely on the money. There are plenty of jobs out there that pay good money, but there is no challenge, no room for growth, no fulfilment. Remember; chase the opportunity, not the cash.
And when you do have that great job opportunity come along, the best thing you can do to perform is put in the preparation. For any further advice discuss with your consultant or pop in for a chat at our office – details found on the website.