Finding employment that’s fulfilling, challenging, and enjoyable enough to hold your interest is important for many job seekers. But let’s face it: when you get down to the nuts and bolts of the job hunt, salary is a major consideration, too. It’s also one of the biggest deciding factors that spurs currently employed tech workers to jump ship and take on higher paying positions at other companies.
Many employers understand the impact salary has on the job hunting process, and it’s clear from the data found in our recent Tech Trends: IT Leaders and the Employment Market survey that they’re willing to go the extra mile to recruit the top candidates in a field—even those who are already employed.
If you’re considering making the leap into a new tech job from your current position, here are a few key insights to keep in mind.
How Changing Jobs Can Earn You More Money
High-level decision makers in the tech world, from managers to presidents and CEOs, realize the value of hiring skilled, top-performing candidates to fill key roles within their company. In most cases, the data shows they’re willing to pay more to recruit prime individuals who are already employed elsewhere and considering a job change.
When it comes to bringing in top candidates who are already currently employed at another company, 98 percent of our survey respondents said they’re willing to offer a salary increase to sweeten the pot. Exactly how much of an increase you can expect when hopping jobs will vary, however.
For securing the best talent that’s already employed elsewhere, 33 percent of respondents indicated they’re willing to offer an average salary increase between 6-9 percent, while 32 percent are willing to go as high as a 10-15 percent average increase. Though it’s a smaller contingent, 14 percent indicated a willingness to go above a 15 percent average salary increase for the right candidate.
Skillsets Increase Your Opportunities and Income
A potential boost in salary can be a big deal when it comes to deciding whether it’s worth job hopping, but possessing the right skills to entice potential employers is vital for negotiating a good salary increase to begin with. Despite the specialized nature of many tech industry roles, our survey shows certain desirable skillsets are harder to find among candidates across the board.
Respondents ranked good teamwork and interpersonal skills among the most challenging soft skills to find in candidates, with 31 percent indicating these vital skills can be lacking in hires. When it comes to hard skills, employers said cybersecurity and infrastructure roles are the most difficult to hire for.
Specifics aside, the big takeaway here is that honing your skills in high-demand areas can put you in a great position to hop into a new job role at another company while also getting a significant salary increase.
What If Job Hopping Doesn’t Work for Job Seekers?
The prospect of leaving the security of your current job for something new might be intimidating for some, but making the transition doesn’t necessarily mean burning your bridges. If anything, our survey reveals that employers are often willing to re-hire valued employees even if they’ve left. That can take the sting out of situations that don’t work out as you had planned.
Only 12 percent of respondents said they wouldn’t consider re-hiring a top performer who had resigned from the company. 33 percent of those we surveyed indicated they’re be willing to rehire valuable past employees no matter how much time had passed since they left. Others felt the amount of time weighed more heavily into the equation. 35 percent said they’re be willing to re-hire a top performer within three months of their resignation, while 21 percent said they’d consider extending that timeframe out to six months. That’s all encouraging news for anyone concerned about the impact of leaving their current role for a new one.