Will changing jobs lead to more pay - or less?
It's hard to predict how any individual job candidate will fare, writes Fortune's Anne Fisher in her March 27 Ask Annie column. If you've switched jobs recently, what have you found? Did you find employers willing to give you a raise - or even a signing bonus - to woo you? Or is the job market in your field so competitive that you felt lucky to get an offer?
I switched jobs in mid 2006 and got over a 20% raise, a laptop, desktop PC, and a Blackberry.
: Tue Mar 27, 09:42:50 AM I got a raise between my last job and now. The saying goes, you wont get a big raise "here" unless you get a job somewhere else. However, it makes sense to be moving through the ranks w/ added personal value if you want to see real gains. If you are in the same job classification base salary might differ but benefits wash it all out due to competition.
: Tue Mar 27, 09:47:03 AM Poor me, sort of�I�m very well paid IT manager earning over 6 figures but the problem is the company I�m in is very stagnant with little growth opportunities so now I�m thinking it�s likely I�ll take a cut and jump to a company with more advancement opportunities.
: Tue Mar 27, 09:57:23 AM I'm changing jobs this week. I liked the job that I'm moving to and understanding their range, told them that I didn't need to make a killing on the base. I'm going up in sal 7-8% but doubling my potential bonus. Also, since I am leaving a May bonus on the table by leaving now, I used that to get a signing bonus that is higher than what my bonus would have been.
: Tue Mar 27, 09:57:33 AM I work in IT in NYC. When I started at a new company, they cut my pay from my former employer by $2,000 base salary for the first 6 months. If I were to work out they were willing to give me a $4,000 raise after the six months to make it even for the first year. After that it was a $2,000 increase in my pay.
: Tue Mar 27, 09:58:04 AM Since I have moved to the DC Metro area, I have had 4 different positions. Not because I was a bad employee, instead I was "wooed" so often by different companies, that jumping was very easy. Since 2003, I have almost doubled my salary, and I currently work at a firm that pays 100% of my Graduate degree. Beat That!
: Tue Mar 27, 10:03:26 AM I changed employers within the same IT field I work in and received double my old salary. Now being paid appropriately for my job function. Fall of 2006. I now feel that I won't be getting raises in my current job and am shopping for a new one.
: Tue Mar 27, 10:21:59 AM I recently switched jobs and location. I had received a big jump >50% in my salary in my previous job and hence was happy to maintain my salary. Moreover, I managed to get equivalent salary despite a move from Northeast to Southeast (which meant higher salary in real terms). I also received a signing bonus.
: Tue Mar 27, 10:24:03 AM So I agree with the comment that if the employer wants you, they will woo you. Wishful thinking. I suppose it happens everywhere else except Michigan. You can count on taking pay-cuts in Michigan just to keep working.
: Tue Mar 27, 10:25:25 AM I have just moved to NC from Wisconsin and received a raise as well. I graduated undergrad in 12/05, worked for a few months, got a raise, then switched states and got another raise. They asked what my expectaion was, and when I gave them a range, they offered me a job right smack in the middle of what I was asking for. So, within a year and a few months, I've upped my salary by about 50%, and they're offering to pay for grad school should I choose to go!
: Tue Mar 27, 10:28:17 AM I changed jobs in March 2007 and got a higher title, 20% increase in pay, a more upscale office, and a signing bonus.
: Tue Mar 27, 10:31:24 AM I moved from a midsize(~3000 employees) company to a small company and then to a Fortune 100 corporation. The first change in job was about a 20% increase in pay with the the last one a whopping 35%. All these in the last 5 years.
: Tue Mar 27, 10:37:09 AM In short, I'm very happy with my job changes. I started out of college as a real estate accountant and have worked through 6 jobs in 8 years. During that time, I increased my outlook by obtaining my MBA. My salary increases have looked like this; base, +52%, +25%, +10%, +50%, 30%. My salary has quadrupled over what I made when I graduated college. Jumping jobs is not a "what if" but a must in my opinion. Companies 3-5% annual raises cannot compete with external opportunities that present themselves. Increased education & experience + increased opportunities = MORE $$$$.
: Tue Mar 27, 10:38:55 AM I got a job out of college that paid pretty well for the position, but once I had some time in there and some skills, I was able to move up - about a 30% pay raise. Other people in my position have taken lateral transfers from other sections of the company and not gotten the same salary I did, however. And we are also replacing much more highly-skilled workers who cost a lot more, so basically no matter what they pay us, we are still a bargain.
: Tue Mar 27, 10:43:07 AM I work in the pharmaceutical industry and I switched jobs in May 2006. The move was lateral, but the new company gave me a 20% salary increase as well as stock options and decreased health care costs. The salary increase alone would have taken me several years to achieve at my old position.
: Tue Mar 27, 10:49:38 AM I changed postions and organization in the middle of '06 as well because the standard merit increase in my old company ran at about 2-3%. Come to find out my new organization's merits are approximately the same rate. Net/Net after considering 401k matching and other fringe items I would say I am slightly less paid now.
: Tue Mar 27, 10:51:08 AM I was with a small IT company for over five years. Great reviews but bad raises (1%) because they said they had to "watch the bottom line". I started scouting around and doing some quiet networking. Within 3 months I landed a job at a pr firm with a salary increase of almost 25%, much better bennies, and a shorter commute. It's great. The IT company that I left had a revolving door, hiring and losing at an average of 3-4 employees a month (out of a staff of 70). Ridiculous. I'm so gald I'm out of there. I feel much more valued, not only because I'm making more money, but because I'm treated a lot better.
: Tue Mar 27, 11:07:08 AM It all depends on your experience, the job title and the market.
: Tue Mar 27, 11:13:25 AM I moved from Los Angeles to Houston in 2006 and my salary stayed the same (effectively an increse due to cost of living difference). Shortly after arriving in Houston, I received an offer that paid me 10% more than my previous job. In my previous job, I was a consultant and was paid for overtime. I don't work overtime in my current position. Plus, my medical benefits were much better than my current employer. That said, my salary, while higher, I would trade for better health benefits. Many times, people forget to factor in the value/cost of their health and other benefits when deciding to make a move to another company. Case in point, at a previous job, the employer paid 100% for my family coverage for medical, dental, and funded money into a pension (6%). The value of the medical/dental was over $1,000 a month. This amount, plus the pension contribution made my the employer should effectively raise my "true" annual salary by $18,000 a year. Thus, in this case, you should not consider switching jobs unless the increase is higher than $18,000 per year. I moved to my second job after school. I got a 25% raise, better benifits, decent relocation and better title. Needless to say I was pleased. My next move is unlikely to have such a large hike.
: Tue Mar 27, 11:16:31 AM Meh,
: Tue Mar 27, 11:28:04 AM I wish I was that lucky. I'm an IT guy in Buffalo, NY. I was forced to change jobs late last year due to "out-sourcing". After a cold few months of job searching during the holidays; I have a job with with more responsibilty and a better title, but about a 10% pay cut. I guess it depends on industry and location. I seem to change jobs every 2 or 3 years as I get offers that are hard to refuse. Generaly, I am able to increase salary by 20%, receive a signing bonus to compensate for loss of vesting in retirement plans, and immeduiate vesting in new plans. As the former employer was not responsive to employee issues, they were not given the opportunity to match or exceed the new offer.
: Tue Mar 27, 11:28:19 AM Employers should realize that the market is active, no one is beyond leaving, and do pre-emptive strikes to retain their people. "Hiring managers like to start people in the middle of the range"? 'Papa' is seriously dis-illusioned! New hires almost always start in the lower bracket of the salary range, especially in the IT field; and salary ranges are also much lower for government contracts compared to the private sector, so, you start even lower there than anywhere else.
: Tue Mar 27, 11:37:34 AM With that said, I have moved (locations and jobs) 2 times in the IT field and both times have netted me more salary. But, it's only good money until the next round of layoffs. From what I read in the other posts, most people must not be working in the IT field because they're doing way to well. Unless they went from the underpaid government IT sector to the private IT sector. I agree with P.E. in Chicago--employers had better pull their heads out of the sand & realize that lack of employee retention will cost them. My current company has too many issues to enumerate, but, amongst them is a severe disconnect between executive management and the "rest of us" (I'm part of what could be called upper-middle mgmnt). It will be relatively easy for me to jump ship once I feel prepared to make a geographical move..
: Tue Mar 27, 11:48:27 AM I tried to switch jobs for a much higher pay, but my current boss beat that price just to keep me. If I had known that would happen, I would have looked for a job a long time ago...too bad employers don't pay you what you're worth from the beginning.
: Tue Mar 27, 11:55:26 AM I recently switched jobs after working for a Fortune 500 company and got a 40% increase in gross salary switching to a boutique firm.
: Tue Mar 27, 12:03:05 PM I work for a Tier 1 supplier at Detroit. Attended an interview with one of the big three OEMs. Received an offer 12 % below my current salary and close to entry level after gaining a substantial experience.. Wasn't able to take the offer as it was insulting..
: Tue Mar 27, 12:03:09 PM Arrogance?? I switched companies twice in �06. The fist move didn�t give me a pay raise but I got a signing bonus and MUCH better benefits. The second change gave me a better title, better 401k matching, a $10k signing bonus and a whopping 60% increase in salary. Needless to say the choice to move was not a hard one.
: Tue Mar 27, 12:07:20 PM I am located in what was voted the poorest city in the US for 2 out of the past three years and I have encountered a different situation completely. I have two masters degrees and 6 years experience. I am currently supervising a department here and am very underpaid (I got "promoted" several times with tons of extra duties----5 laid off people's jobs, supervision of various departments, and lots of responsibilities but no extra pay).
: Tue Mar 27, 12:10:24 PM I have been looking for a new job for several years and have been offered other jobs in the city, but they always want to downgrade the title/value/role of the position so they can avoid paying what the position is worth. For example, one of the recent jobs I was offered wanted to pay me 20K LESS than the BOTTOM 10% percentile of earners in that position in THIS market...so they wanted to downgrade the title to "assistant" to avoid paying what the market said was appropriate pay...but they didn't want to downgrade any of the duties...they wanted to keep me doing high-level management and project/program management in addition to my other duties, but be called "assistant" and paid next to nothing (even less that what I am making now in my current Land-of-Overwork-for-Underpayment. Obviously I didn't take the job. That is one example. Just goes to show that what you get apparently has a lot to do with LOCATION. I can't seem to get a reasonable pay here for all my experience and skills. I am thinking seriously about moving away! I like to stay with my employers for longer than the average in my field. I've been pretty lucky to have good employers, but my experience on each employer change is that my income jumped 15-30% easily and opportunites to continue moving up in responsibilites were much greater. When my current employer falls behind on competitive pay which always happens around 3+ years and groups are set in their ways and I suspect a level of comfort happens and the employer assumes your happy where your at. I've pushed for changes in roles which have happend but getting competitive pay concept always seems to fail with companies once you have been there for a while. Moving to a new company that needs your skills and is willing to pay for it seems to be the only sure way to keep your self on a competitive pay scale and to keep learning and moving up the experience scale. Companies want experienced workers in all their roles, to do that they need to keep their experienced workers in that role and they get stuck in that mode to long for most people. So they loose experience and are forced to start over instead of simply paying competitive salaries and offering people ways of moving up the ranks.
: Tue Mar 27, 12:10:31 PM I am currently in the process of switching jobs. My new employer is starting me with a better job title, more flexibility in terms of vacation time etc, and a pay increase of approximately 30%! I was nervous to leave my current position after only 6 months, but who wouldn't jump at an offer like that???
: Tue Mar 27, 12:13:48 PM I would agree with most people on this site in recommending a job change. My personal experience at the end of 2006 was that there were so many employers in need that I really had an opportunity to make the most lucrative choice. My total compensation increased by over 30% (not including signing and relocation bonuses) and I was also able to gain more responsibility. To anyone that is ambitious and wants more, I would suggest considering a change even if it means potential relocation.
: Tue Mar 27, 12:14:36 PM I am in the process of switching jobs. I am getting 25%, a signing bonus, a better title, and all relocation paid for to move back home to Columbus, OH.
: Tue Mar 27, 12:19:09 PM I recently accepted a job that paid 15% less than what I was getting paid. The position scope was the same as the old one but the industry was different. I took this job because the intrinsic fulfillment of contributing to saving lives was greater than making $15K more in pay. The real value of a position HAS to consider much more than just base pay.
: Tue Mar 27, 12:19:52 PM I lost my job due to outsourcing (Project Management/Engineer). I have been offered salaries in the $30K-40K range. I can't move because of my husband's job and my children live at home and attend a local college. So if you are getting these great salary increases, be very thankful!! It's not that way in Hampton and Newport News, VA (at least not for me). (I have a MBA and I am almost finished a 2nd master's degree in Environmental Engineering.)
: Tue Mar 27, 12:22:28 PM In Northern California it should be no problem to get a five figure sign on with 20% increase in base, you have to be prepared to negotiate though.
: Tue Mar 27, 12:24:15 PM I changed jobs last week, and was able to move up to Senior Management from a non-management position with a 50% pay increase. Not too shabby for being in the Finance industry just 5 years.
: Tue Mar 27, 12:24:41 PM I was working in the midwest as a software engineer. While my pay raises were good, I was looking for more competitive salary. I received multiple offers from companies in the California bay area, most of which included sign-on and more than equivalent base pay etc. Moral of the story: If companies need you, they are willing to woo.
: Tue Mar 27, 12:25:04 PM The market from 2001-02 has changed drastically. Got a 25% raise and 20% of my salary as joining bonus. This probably also has to be the fact that i relocated to Wasington, DC from RI.
: Tue Mar 27, 12:25:37 PM I worked at a gigantic engineering firm for about two and a half years right out of grad school and switched jobs in late 2006. I ended up with a 28% raise. They asked my salary expectations and ended up giving me more money than I asked for.
: Tue Mar 27, 12:27:35 PM I switched consulting firms last fall and scored a 60% pay increase and $10k in stock as a signing bonus, as well as free medical/dental/vision insurance with my new firm. I've also received many cool perqs not offered with my last employer.
: Tue Mar 27, 12:29:00 PM Bottom line, if you can't find a job that pays you more, don't switch.
: Tue Mar 27, 12:29:10 PM I am glad there are people who are seeing raises. But, it all comes down the company and it's industry. The company I work in now, with profit margins in the 2% range getting any kind of raise is considred generous on their part. In the SF Bay area a degree means nothing. MBA, BA, it's all BS.
: Tue Mar 27, 12:31:09 PM I was a GM with a small company in Southern California and now having a difficult time finding an equivalent match in pay. With so much competition in a overcrowded area, employers are taking full advantage of the glut of people willing to take lower pay just to have a job.
: Tue Mar 27, 12:31:44 PM I think your article is a bunch of bull.
: Tue Mar 27, 12:32:48 PM When was the last time you looked for a job and found better benefits and pay? Who did you poll for these statistics. You need be specific as to what particular industries you polled and got these results I recently started a job and was close to starting my medical benefits when another company offered me more money and was willing to put me on the insurance in 30 days instead of 90.
: Tue Mar 27, 12:33:14 PM When I gave my notice, my current employer nearly matched it. I stayed because the counter offer was so good, my insurance was kicking in and the drive was closer to home. I worked for a major financial institution, within 1 year I made three job moves upward. Being aggressive only benefits in a company that will pay you a portion of your worth. Leaving my old job has allowed me to get more experience in a market I would have never thought about. Change is very good. I always encourage people to decided if they want a job or career and then make the moves to make it happen!Push yourself to be the best you can be! There has to be a connection between efforts and results and you are the connection!!!
: Tue Mar 27, 12:40:29 PM I'm a Geologist in a large independent oil company and switched jobs nearly 2 years ago. I was offered a 30% pay raise, less hours and a $15,000 signing bonus. Since then my salary has increased by 14% and we were offered a 30% retention bonus to stay for 2 years.
: Tue Mar 27, 12:43:51 PM I had been doing Lotus Notes administration at a senior level on a contract basis for 8 years and making an attractive hourly rate.
: Tue Mar 27, 12:45:11 PM Three years ago, I decided to go into a business and , was forced to sell last year. Now, its seems like very difficult to get back into the market with the gap of two years in Lotus Notes Administration. I have a Masters degree in Mechanical Engineering from the University of Cincinnati. Do you have a great advise me on how to make the right next move to go back into the employment market? Thanks! In 7 years, have gone from 37K to 150K by switching jobs.
: Tue Mar 27, 12:47:49 PM I switched jobs late last year and got a 40% increase, a new laptop, and a new job title. The market is really good for job seekers right now.
: Tue Mar 27, 12:47:58 PM I would say that the fastest and sometimes the only way to get a pay raise is to move to a different company. Since August 2003 I have increased my compensation from $70K to $170K (total comp) through a series of moves plus received some good signing bonuses in the process.
: Tue Mar 27, 12:53:01 PM I've been at companies where they gave annual raise slightly below rate of inflation as a standard practice. No one is going to take care of you but yourself. I'm just out of college and found a job in Boston that has full benefits and they gave me a laptop. The online marketing field is highly competitive, so it took me 5 months of full time job hunting, but it definately paid off.
: Tue Mar 27, 12:54:37 PM Massachusetts seems to be lagging in this department. There's such a 'rich' atmpsphere of new grads from top schools, that pay is rarely ever good, though it may be locally competitive. Case in point: I earned 20% LESS than a friend who lived in Chicago that held a lower position than I did at a similar-sized company.
: Tue Mar 27, 12:57:45 PM My first job paid me little-to-nothing out of the college gate, but had great benefits (100% covered, no deduct). My second job was better, with similar benefits, a better title, and a 20% pay increase. Was laid off there due to outsourcing. And now my third job increased my pay another 17%, but has LOTS of out-of-pocket benfit expenses (they do offer more 'benfits' than previous jobs, but most cost money up-front at least, which means they aren't trully benefits, just hidden bottom-line cushions). Thus, I'd say I am just slightly better off now than I was in my last job (job security being the main reason why). The 3-5% annual raises just don't cut it in Boston, but most companies don't seem to realize this and just 'work in' high turnover into their budgets. I recently changed jobs and got a 25% base pay increase. 10% bonus, better and less expensive health insurance, and 15% less work hours a week.
: Tue Mar 27, 12:58:21 PM Annie,
: Tue Mar 27, 12:59:32 PM I took a leap from stress-filled high paying job 5 years ago. I had my Degree in Political Science and a Masters in Public Administration. A friend of mine who is a principal said that schools will need teachers..I had worked in the Public Works Department writing and developing city projects. The math and communicative skills learned there helped me to become a grade school teacher. I earned my teaching credential and teach 5th grade.I am earning a bit less than the old job..yet I get to see the spark that my job creates for their future I left a company I had been with for 6 years a year ago and received a 30% increase, a signing bonus, and better benefits. It is all about the industry, job market, your connections, and how well you can sell yourself. If you cannot demonstrate why you ahould get more, than forget it!!! Sell yourself.
: Tue Mar 27, 01:03:11 PM I joined my current company in August 2004 as a salaried employee with good benefits. Transferred to a different division in June 2006, became a manager, got a 20% raise and better benefits. Acquired a top secret clearance and was recently recruited by another company with a 20% raise offered but lesser benefits. My current company met that raise with a promotion and salary match, so with all that said, since my start in August 2004 my salary has jumped by 50% and I never left the company. Life is wonderful when you have the hard to find skills and many years of experience. I'm 58 and will work to 72. I expect to continue to raise my salary with another 3-4% a year and hope to have another promotion in 5-6 years.
: Tue Mar 27, 01:05:30 PM I was waiting to finish my degree later this year before changing jobs, but I was found on the internet by a major fortune 500 company and was given almost double my pay. Needless to say I was blown away, but apprently highly specialized technical people like myself are in far greater demand than I even realized... make sure you have your eyes open and aren't thinking small...
: Tue Mar 27, 01:09:39 PM My suggestion is renegotiate before taking a leap. I was able to raise my pay nearly %30 by implying "I might be looking at other options". I wouldn't say that directly to your manager... that's what HR people are for. In the end if you are valued by the company they'll do what they can to keep you around.
: Tue Mar 27, 01:10:17 PM My husband changed jobs as a manager from one type of company to another doing basicly the same job but a different type of product and went from $45,000 a year (10 yrs service) to $60,000+ a year. Its true you can only get a really good raise if you go to another company
: Tue Mar 27, 01:12:35 PM I graduated from college about a year ago, and started a new job about a month ago. I got about a 30% raise, double vacation and holidays, and many other perks. It's unfortunate because I really like the first company that I worked at but it seems like these days it is easier to "leapfrog" into a better, higher paying position at another companay.
: Tue Mar 27, 01:13:10 PM I moved from a contract position to a permanent position in early 2007. Although as a contractor I did not receive vacation, holidays or sick days, I did receive overtime and had health benefits. The permanent position I took requires at least 50 hours a week (no overtime) and (based on 2080 hours a week at my contract rate) I took a pay cut of around $15,000 a year. The expectation is that yearly bonuses will make up for the shortfall. Although I have more than a four year degree, I found negotiating to be more difficult than in the past.
: Tue Mar 27, 01:14:09 PM Yeah right this must be for everywhere but Oklahoma where open positions are few and the competition is fierce. Salaries are at an all time low as well.
: Tue Mar 27, 01:15:11 PM I had an offer elsewhere and my Company ponied up a 12% increase to keep me.
: Tue Mar 27, 01:22:19 PM In response to Dan in San Bernardino, to simply lump all of IT together in terms of salary increases as a result of job changes is a big mistake. In 2006 and forecasted 2007, certain IT areas such as ERP consulting (SAP, primarily) are enjoying record high salaries and hourly rates both as a subcontracted and "umbrella" company-employed professionals. And on top of that, another mistake is to call government IT "underpaid".
: Tue Mar 27, 01:27:07 PM As a government sector SAP consultant, my company alone has so many potential projects in the pipeline that they can't keep enough of its own employees on them and are forced to subcontract. With that shortage of skilled IT consultants, what do you think happens to the money that'll be paid? I walked out of a job due to problems with a manager that I was working for back in 2004. My previous employer labeled me a "disgruntled employee." I was actullay prepared to be unemployed for several months. The offers rolled in, and within two weeks time I had easily landed another job as Controller of a local business and increase my pay by 60% plus year end bonuses.
: Tue Mar 27, 01:27:10 PM As part of an offer negotiation with a major auto company as an engineer based in Los Angeles, I've learned that a signing bonus and regional adjustment are not allowed per policy; and was told that the offer details are "inflexible". I'm a top performer in my salary grade, and I'll be lucky to keep my current salary.
: Tue Mar 27, 01:28:29 PM This article could have easily been written about me. I recently changed jobs, leaving one company for a competitor. I was able to obtain a salary and bonus package that was about 6% higher than what I was making, and about 2% higher than what I would have had after my next raise cycle at my former company. I was also able to negotiate a sign-on bonus. I didn't achieve a lifestyle change, or a drastic income increase, but it was enough to make the transition worthwhile - and make up for 12 years of vesting with my former employer. Plus, the job is better!
: Tue Mar 27, 01:31:33 PM I switched jobs 6 months ago, got a better title, a signing bonus, an annual bonus and a 30% pay increase. I'd say switching jobs was worth it!
: Tue Mar 27, 01:32:22 PM Changing jobs was the only surefire way to get increased pay back in the last place I worked. It was like a charm, both for people coming in and going out. Why pay people more in their current job when they're already doing it for what you pay them now? But when they need someone new for that same position - they offer more. So job-hopping is the way to get the "more".
: Tue Mar 27, 01:35:20 PM I switched jobs at the start of the year and did not get a pay raise. I have MA, but so does everyone else in the history feild, and pay is close to that of a high school graduate.
: Tue Mar 27, 01:38:50 PM However, in the tech. feilds it is much better. My brother-in-law told his company he planned to change jobs last month, and they increased is yearly salary $25,000 to keep him. There's so many variables here. It boils down to the Law of Supply and Demand.
: Tue Mar 27, 01:41:01 PM I have a B.S. Business Administration. My tax background is SALT (sales & use; excise; property tax; franchise tax) and I was making in the $70's. The last time I job hunted was in the late 1990's and tax professionals with SALT experience could name their price. Now, the demand is in income tax of which I don't have corporate income tax. I'll be lucky if I can find a position that will pay $65-70K. Plus, I'm over 40 and live in the Dallas area. So, I may be one of the unlucky few that faces a pay cut. I keep hearing about the shortage of skilled workers, go figure. I received a $12,000 pay increase when I decided three years ago to leave a career that I spent three decades in for another one in the public sector.
: Tue Mar 27, 01:43:03 PM I consider myself fortunate because not only am I making more money, but my benefits are a lot better. Now if I can keep this job for the next several years I will be able to retire at an early age. Wish me luck As a supervisor in my company I am encouraged to hire people in at the lower part of the pay scale and only when people threathen to quit do we offer them what they are truly worth. I recently interviewed and was offered and higher level position outside the company and was able to increase my salary by 60% with less expensive health care costs. There are people at my current employer that have been there 20+ years and are making 20K less than those recently graduated college students coming off the street with less experience. It is time for companies to pony up when they say they value the employees that have contributed and pay them a salary commensurate with the experience and value they bring to the company.
: Tue Mar 27, 01:44:10 PM I changed jobs in March 2006. I first took a job for only a little more money, and a demotion, just to get out of the company I was at. Around that same time I applied for several other jobs. I ended up changing again 2 months later for a 35% salary increase and much better benefits. My current job pays me more and definately gives me more opportunity to grow without relocating. I'm still in awe that the second company was willing to pay me more for a job with far less responsibilities!
: Tue Mar 27, 01:49:42 PM I have switched jobs 3 times in 4 years and my salary jumped $5k, then $5k, then $5k plus better benefits the equivalent of $12k a year. Will look to move again in spring of '08.
: Tue Mar 27, 01:53:38 PM I switched companies in January to work for a competitor. Normally for a product designer, any offer is good considering how tight the design market it, but the new company offered a 32% increase, more responsability and a higher status title, while the benefits remained the same.
: Tue Mar 27, 01:55:39 PM I left a low-paying non-profit job, that was 75% work-from-home, for a another non-profit. I received an approximate 20% pay increase; however I had to give up working from home and the health insurance with my new employer is close to four times what I was paying at the old place. Which has eaten up my increase - and I'm stuck in an office 5 days a week!
: Tue Mar 27, 02:03:12 PM Isn't using unemployment statistics a gross mistatement of the number of people actually looking for work? What about recent graduates of four-year programs? They can't find work, but since they aren't filing unemployment claims (having not been employed previously), they don't count. Despite what the "numbers say", the jobs aren't there right now.
: Tue Mar 27, 02:04:17 PM Changed companies in a different state summer of '06, basically with the same title, but because the location was a smaller city that didn't have access to a larger pool of qualified candidates, they were willing to step up and pay 35-40% more than my current salary; and they paid for relocation. That increase is even higher if you factor in lower cost of living.
: Tue Mar 27, 02:05:28 PM I switched jobs last May, and received a 60% raise to work as a contractor. When my contract was finished, the company I contracted to hired me at a 10% higher salary than the contract wage.
: Tue Mar 27, 02:05:51 PM I work in IT.
: Tue Mar 27, 02:06:44 PM I doubled my salary in 3 years time by switching 3 jobs. I switched from a business analyst at a Fortune 500 company to a trainee at another Fortune 500 company and received an 11% increase in pay. 9 months later, my current company is giving me a 30% increase in my promotion. Changing jobs definitely has its advantages.
: Tue Mar 27, 02:14:41 PM I took a 40 loss on the next job. The market has been horrible and the jobs that I see in the classifieds are paying lower and lower salaries every week.
: Tue Mar 27, 02:15:51 PM At least in accounting the current prospects seem bleak. It appears in IT, particularly Unix IT, salaries are going up.
: Tue Mar 27, 02:20:56 PM In the last 9 months I've had two job transitions, the 1st transition was a 30% increase in salary, and the second was just shy of a 50% increase in salary from the second job. I moved from a small firm, to another small firm, to a government contractor. I made a move last year from Southern CA to Central VA to pursue a new job. Despite moving to a cheaper cost of living market, I still received a 20% increase in base pay and 10% increase in bonus potential. And my relocation package was also very generous. Two years prior, I relocated within Southern CA for a new job and received a 16% increase in my salary at that time as well.
: Tue Mar 27, 02:20:57 PM I agree with the comments made from the gentlemen from Michigan. You won't find opportunities here! Thank you to our great governer for driving out all the jobs in the state. Great work!! Also, a thank you to the UAW. You also contribute to the 50th state in unemployment rate.
: Tue Mar 27, 02:24:54 PM I would assume that as the baby boomers start leaving the work force that those of us still working will have better and better opportunities.
: Tue Mar 27, 02:28:00 PM a 60 year old young woman I'm in my seond week of my new job. I had my old job for 7 years, and even with the yearly raises, I now make $40,000 more per year.
: Tue Mar 27, 02:33:28 PM Upon returning from an extended overseas trip, I thought I would have a hard time finding a position. However, in post-Katrina south Louisiana, the job market in the environmental services field is incredibly lucrative for those seeking positions. My salary has increased by $15K since my return to the work force. The regulatory agencies are really feeling the crunch with so many of their staff jumping ship for much for better pay and perks.
: Tue Mar 27, 02:35:06 PM I went from a deadend analyst job for an engineering firm to a Fortune 500 company, snagged a 25% increase, better benefits and a much much better work environment. I no longer have to deal with project managers who have tunnel vision. WOW! The best thing I did for my career was to take that little "jump" and it paid off greatly.
: Tue Mar 27, 02:40:25 PM I changed jobs in October 2006, going from a decent economic region to a poor one, but still received a 10% increase. I've only taken a decrease one time, but I was changing job titles, as well as companies. I've found that it can actually be a disadvantage to be loyal to one company for too many years.
: Tue Mar 27, 02:42:03 PM I switched jobs within the last nine months and was given a nice size signing bonus plus an increase in 401K contributions plus profit sharing after one year. I did take a small paycut that the signing bonus made up for. I also shaved an hour off of my drive.
: Tue Mar 27, 02:46:55 PM I thought i had reached the pinnacle of my profession, but recently received a raise to move companies that would have taken me 4 years to get to had I stayed. It's frustrating that most companies require you to leave to get your market value. You would expect companies to value keeping you over losing you, but seems like you have to leave to get market value. I'm now the highest paid non-manager I've ever met in my field.
: Tue Mar 27, 02:47:51 PM I got moved out due to restructing,But this turned out to be a blessing in disguise. I make 10 % more in salary with a 15% bonus along with additional perks.
: Tue Mar 27, 02:57:13 PM I work for a Health Care institution in central Mass. I have consistently recieved excellent job performance reviews. My salary has gone nowhere over the years. Maybe it has something to do with my age. Then again, most people I work with feel the same way.
: Tue Mar 27, 02:57:15 PM As an Internal Audit Senior Manager, I get weekly calls about open positions. I know of 3 locally that would jump if I said I was interested. However I chose to stay with my employer and be promoted to a Director in an area that I am very interested in. Even though I could probably get 25+% more, my employers investment in promoting me is more interesting and should help me in the long run. Another big benefit of a very tight labor market.
: Tue Mar 27, 03:03:33 PM I graduated with my BS in IT in 01, I have changed jobs 3 times since then and am making well over double of where I started. I also earned an MBA in that time and just received my first cert in my field. I watch the job market constantly and it has definitely cooled in the last 2 years. In the last job change in July I left somewhere I was unhappy but well paid among my peers to a nice raise and better health benefits. 401k is the same, (not so great) If I had stayed at my first job I would be making an estimated 40% less than I am now but with lower cost of living.
: Tue Mar 27, 03:04:11 PM I like where I am right now and have no desire to move but have seen positions for which I qualify which would be more than a 25% increase in salary alone. Unfortunately most companies are not very explicit when they list benefits and some in my field don't list salary range. Ohio,as is noted about Michigan, is still the pits for technical proffesionals. We had the largest manufacturing job losses during the bush recisions, and the least new jobs in the alleged recovery. Engineers, designers, and other techs have seen their salaries plummet just to get back in the workforce. Its still an employers market in Ohio
: Tue Mar 27, 03:05:16 PM Starting out in IT I was only paid about $40K. A good starting salary but after a year of work, its way underpaid. I moved to an engineering company (did engineering for college) and got a 50% increase in pay, plus better benefits. I obtained a security clearance and finsihed a few Masters programs (paid for by the companies I have worked for). I plan on obtained another significant raise soon. I reccomend to always keep your options open. If you can obtain the hidden benefits like tuition reimbursement or obrtain a security clearnace, the job is worth more than may seem at first (since security clearnaces open doors and usually pay more).
: Tue Mar 27, 03:07:08 PM I started looking at the job market in November 2006 after 15 years with the same Company. I will begin a new position in May with a 25% pay increase and additional benefits.
: Tue Mar 27, 03:09:32 PM I was working in a small company working a ton of hours. Since I was planning to have children within the next few years I started quietly putting the word out in my network that I could be "wooed" away. Without even sending out a single resume I ended up with a wonderful job. I work half as much for a 15% higher salary. When my old boss found out I was leaving he offered to match the pay increase. I didn't stay because what I was really looking for was an increase in the quality of my life. I am very happy in my current job.
: Tue Mar 27, 03:09:42 PM Changing jobs has been a must for me. After college in 2004, I started out in a relatively bad job market for the IT industry. It took me a month to find my first job and I only found it through a friend. I worked for a small firm for a small salary. I moved to a very large firm for a 23% increase and significant increase in benefits. While there, I was promoted to management and made a 20 % increase, which was the largest increase that I heard of among my co-workers. Even with the raise I was still in the bottom 25th percentile for my job title and experience and I was working a significant amount of un-paid overtime. I decided to change jobs once again and made a whopping 40% increase in my salary some reduction in benefits, but the health care is 100% paid. I also have un-paid overtime, but I rarely work overtime.
: Tue Mar 27, 03:19:56 PM I'm an MBA grad with 5 years experience in Finance making mid $60s annual in a large Mid-West company. I know I'm well underpaid for the work being performed. I've looked around and have received several offers as much as 30% more but all do not provide relocation benefits. I've compared notes with others and it seems that relocation is more often only offered for Directors and above. I think the cost of fuel has a big impact on the cost of relocation to companies. They are simply not willing to invest that much upfront ($20-$25k for a cross country move) for a new hire.
: Tue Mar 27, 03:36:57 PM There always those who get ahead no matter what, but as for me, I am the skinny guy at the back of the line while Tom Cruise and James Spader woo all the employers.....
: Tue Mar 27, 03:40:29 PM How on earth can anyone have anything good to say about Michigan?? The employers here are so fickle they won't give a guy a job if he show's any sign of actually "wanting" the job! A guy has to act like he doesn't need a job to get one in this state. Three and a half years ago I moved from IT to software pre-sales. I have now tripled my salary, have a better title, stock options, and reward trips. IT employees do the heavy lifting, but don't always get paid what they're worth. Hope that helps some of you out there.
: Tue Mar 27, 03:41:15 PM I can't speak for others, but in my searching for a "permanent" job (wanting to get off the contractor/unemployment seesaw), my experience has shown that many employers are wanting to buy new people (experienced or not) "on the cheap". Pay offered for many positions I have applied for has been anywhere from $10,000 to $15,000 LESS than the surveyed national average - depending on the area you are looking at - If I had accepted a position at one firm near my home like this, I would have had to suffer close to an $11,000 pay CUT each year. So the notion of "change jobs - better pay" doesn't always hold true.
: Tue Mar 27, 04:35:57 PM I had to move jobs last year because my department got "laid off by relocation" when it moved to Cincinatti.
: Tue Mar 27, 04:37:28 PM They offered a week's salary per year of service for the move. Meh. I switched jobs so I could stay local (DC<>Baltimore corridor) where the jobs are a little more plentiful. I got a salary match with slightly downgraded benefits. At my previous job, I got some serious raises. Last year I got an 8k raise. I count myself lucky that I was able to match it. After I started looking I realized that it'd be hard to match my salary at another company. In the 4 years I was at my last company, my salary went up over 30% and I got to keep this at my new job. Life is still good. In fact it's better because the new place is much more laid back and realistic about what it expects, which makes my current salary all the more sweet. I won't see the kind of bonuses I used to get, but quality of life is far more important to me. My wife's career is taking off too, so the scariness with being a one income family is gone as well. Sometimes getting a raise can mean getting a much better quality of life and less stress. That's what it meant to me. I thought that my previous employer was grossly underpaying me, and promised raises and promotions did not materialze after 18 months. I left for a new employer in mid-2006. The starting pay was 28% higher at my new job, with far better benfits. I was then promoted with another 24% raise after 6 months. Very happy I made the switch!
: Tue Mar 27, 06:08:45 PM I suspect that many people posting big increases in salary are IT (as stated) but more often than not, those in the finance arena where some signing bonuses, etc. are huge.
: Tue Mar 27, 08:41:54 PM How about posting an article on jobs for folks who aren't financial analysts, etc. but just the plain old working stiff? The admins, nurses, etc. who do a lot of hard work but don't make the salaries. 25% increase in base comp and an aggressive bonus plan.
: Tue Mar 27, 10:18:41 PM I made the mistake of taking a job at another company in a new state for a $20,000 increase in salary. Despite the larger paycheck I hate the work I'm doing, the culture is toxic, and I'm working so many hours that I don't have time to interview.
: Tue Mar 27, 11:57:07 PM No. Went to a lower salary in my female-dominated field, of HR. Too many HR pros lowball their salaries so it ruins it for the rest of us.
: Wed Mar 28, 09:25:06 AM Oh, and I have no fear that my HR colleagues will read this post since many do not read general business journals, sadly. I switched jobs in '06 and got a 40% raise and a signing bonus...it seems you have to switch jobs to get ahead these days...companies start to see employees with any seniority as stale!
: Wed Mar 28, 02:54:26 PM If you apply yourself to a search, and are willing to at least consider multiple geographic areas, it seems to me that educated professionals in a number of industries have a ton of options right now. I was recently laid off. But this just means 6 mo bonus salary for me. I had a new job lined up before leaving. Will make 10% more base, plus double my old yearly bonus. Received a small signing bonus. Very complete relocation package, more than covering all my move expenses.
: Wed Mar 28, 08:31:39 PM If you feel unsatisfied in terms of your pay, and are willing to relocate, there is a whole country of jobs waiting for you. Just be sure FULL relocation is included. And don't wait until you get laid off - search while you have some negotiating power! I'm a manager at a large tech company and I'll give these words of advice. When I review resumes/interview prospective candidates for a job, if I see they've changed numerous times in a short period of time (3+ jobs in 3 years), I'm hesitant to interview because employee retention/loyalty is just as important as skills/experience. So keep that in mind as you move from job to job, you may end up limiting your hiring potential at some companies.
: Fri Mar 30, 04:36:18 AM I worked for a small nonprofit encountering financial problems. When facing staff layoffs, I found a new position with the same title, with a much more larger and stable organization, and received a 20% pay increase.
: Fri Mar 30, 09:33:06 AM
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