When you’re looking for a job, whether it’s by choice or not, the question of salary is one of the biggest unknowns out there. What can you expect to be paid when you’re getting down to the nitty gritty of a job offer? Will it be as much as you’re earning at your current (or former) job? Can you look forward to a bump in pay?
At GetFive, we’ve been helping people through job transitions for a lot of years. Throughout that time, we’ve gathered data on everything from how to spend your time in transition (it depends on the level of job you’re looking for) to what a healthy job search funnel should look like (hint: wide and vast at the top) and yes, even to what you might expect in terms of salary. We can help you run the numbers and averages so you can go into that job offer with some idea of the ballpark you’ll be dealing with.
As with everything related to job searches, typical salary expectations are a matter of “if/then.” We find that our participants’ compensation offers were based on role, industry, and change.
If you’re changing your job role and your industry, then you can expect a drop in pay. Why? You’re going into a new industry with less experience.
If you’re changing your industry but going with the same job role, then you’re 10 percent more likely to see a bump in pay. Why? You’re bringing valuable insights from another industry into a role you’ve built expertise in.
If you’re changing your role within the same industry, then you’ll likely see a bump in pay. Why? You’re moving on up the ladder, growing and challenging yourself.
If you’re in the same industry, same role, then it’s a wild card. You could see a similar, lower, or higher salary.
These are typical scenarios, not truths written on stone tablets. Think of them as an average rule of thumb.
It’s more than possible you’ll get an offer that’s a lower salary than you had in your previous position. What then? Do you take it? Our recommendation is yes. Take it. The old adage that it’s easier to get a job when you have a job is true, and it’s less stressful, too. Take the paycheck, assess the situation, and you might find you’ve found your ideal spot.
Every job search is different, but we find that the larger the top of the funnel, the more successful you’ll be at reaching your goals.
Questions? Contact us. We’ll be happy to work with you.