Ever wonder if, when or where you should seek another job? Maybe you’ve topped out in your current position, want a new challenge, or the next step up your career ladder? Here are some factors to consider before making a move, because if you choose wrong, you might be stuck for a long, long time:
1. Supply/Demand – Every job has a supply/demand factor: How many people have the same skill sets and similar experiences that you have, and how much demand in the marketplace is there for those skills and experiences? The marketplace can give you that information. Check out some job search browser. Example: A Controller is a high supply, low demand function. A Forensic Accountant is the opposite as high demand, low supply.
2. Pay – Another easy researched factor. How well are you paid compared to the marketplace? The higher the pay within a range, the more difficult to find a higher paying job unless its with a much larger organization, or you’re looking for a promotion. Also, you need to consider incentives, benefits, insurances and contribution levels. You may find a job at 10% more salary but less total compensation if you have to contribute more for benefits, no 401k, and no available family health insurance.
3. Stretch – Are there opportunities to expand your responsibilities and learn new skills. If your going to only use the same skills and experiences you currently have, but with a slightly larger organization, why make the change at all? Any change should be for an optimum reason, not a small one.
4. Advancement – Will there be prospects to advance your career to another level or two? Hopefully there will be an opportunity to move up the career ladder without having to change to another organization. Multiple step career moves are very efficient in the long term.
5. Influence – Will you be able to influence decisions and be part of the strategic direction for implementation, or will you be one of many plodders who aren’t involved in either? Will you impact the core business or only be part of a peripheral segment without much impact?
According to Money magazine, February 2016, the 10 top jobs with a favorable supply/demand equation: 1. Data Scientist 2. Tax Manager 3. Solutions Architect 4. Engagement Manager
5. Mobile Developer 6. HR Manager 7. Physician Assistant 8. Product Manager 9.Software Engineer 10. Audit Manager
Several patterns emerge by analyzing these 10 items:
1. All jobs require a college education or more
2. All positions require specialized certifications, high level skills or extensive training
3. All posts require advanced technological understanding and computer savvy
What’s the takeaway? Don’t jump too quickly after speaking with a fast-talking recruiter. You have a lot to gain with listening to the pitch, but a lot more to lose if you don’t do your homework.
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