How Much More Salary Is There When Changing Jobs?
How Much More Salary Is There When Changing Jobs?
More salary can be a motivation for a job change, but it does not have to be the only reason. A lack of appreciation in one’s own company, a job that has become stiff and routine, or even changes in one’s private life can be reasons to think about changing jobs. Nevertheless, the question of salary remains a central point. If you are also facing the decision of a job change, you will be interested in how much more salary is possible.
Why Are There More Job Changes Today?
The days when someone spent their entire working life with a company are long gone. Nowadays, employee loyalty to the company is much weaker, partly for the reason that many employees appreciate the value of free time much more than they used to. Work-life balance is the keyword here. In addition, working life is increasingly seen as an individual challenge. Personal goals are more important than corporate goals. So the search for the dream job always resonates, even if the current job is actually quite nice.
The Framework For The Job Change
Two or three years after starting their career, many people are faced for the first time with the question of what working life still has in store for them. Perhaps you too have asked yourself whether you should continue in your current job until retirement or whether there is something more exciting in store. After two or three years, you will have gained important experience in your job that will enable you to handle other tasks in other companies. And if the appreciation in your own company – also in the form of a higher salary – has failed to materialize, the question of changing jobs automatically arises. However, this question can also arise later. But what a job change can really bring in terms of a higher salary depends on various factors:
- Time of the job change
- Initiative in job change: own application or poaching by another company
- Type of job change: promotion (with more responsibility) or lateral move (comparable field of activity)
More Salary For Early Or Late Job Change?
If you’ve been working as an entry-level employee for two or three years and then you’re thinking about changing jobs, you can expect significantly more salary, especially if you haven’t received a significant raise yet. Your education and qualifications are a value in themselves, but the experience you gained in your first few years on the job won’t continue to grow in that density. So you’re still a young worker, but already blessed with a fair amount of practical knowledge. Therefore, 15 to 20% more salary with such a job change is quite realistic, even if you only take over a comparable field of activity. However, if you plan to change jobs after 10 or 15 years, you will have much more experience, but you will be on a higher salary level. Therefore, such a job change will also result in a higher salary, but more likely in the order of 10%.
Own Application Or Poaching
If you are approached by another company and asked if you would like to switch there, then you have very good cards. With a job change initiated in this way, a 25% increase in salary is easily possible, and perhaps even more depending on the industry or specialization. You have obviously attracted attention with your expertise and other skills and can be relatively sure that you have a good market value. And this fact should ultimately translate into a significantly higher salary when you change jobs.
Lateral Or Vertical Career Step
The previous considerations apply to lateral career steps, i.e. a change of environment, but not necessarily of tasks and responsibilities. Sometimes, however, a job change to another company also means that you take on a more responsible position, i.e. a promotion. With such a job change, there is a tendency for even more salary to be possible than in the cases we have looked at so far. But the numbers fan out here. Sometimes it is not possible to clearly separate whether part of the salary jump is due to the change itself or to the promotion. In the end, the two effects will not add up, but will come out to something smaller than the sum. Nevertheless, cases of up to 35% more salary have already occurred with corresponding job changes.
More Salary When Changing Jobs: The Digital Career Advisor
By comparing your salary with the Slected.me digital career guide, you can determine your market value and find out how much more salary you can expect to earn if you change jobs under normal market conditions. Of course, the right timing for the change and a clever salary negotiation are also part of it.
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