Maintaining a rewarding and lucrative tech career requires an understanding of your true worth as an IT professional. Ultimately, it’s a complex question with a host of variables, including experience and the demand for your role. Still, reaching your real earning potential requires regularly performing this analysis.
So let’s take a closer look at how to always achieve your salary goals throughout your IT career. In the end, when your current employer underpays you, finding a better opportunity needs to be the plan. Here’s the information to help you manage that process, now and in the future.
Switching Jobs Provides the Best Chance at an Increased Salary
Don’t let the risk of being labeled as a job-hopper prevent you from reaching your true earnings potential. In fact, the competitive market for technology talent means a declining number of IT pros stay with one employer. Of course, timing matters when considering a move. So understanding the current demand for your job role helps you decide when to jump.
In fact, a recent study noted full-time employees who switched jobs enjoyed an average salary increase of 5.2 percent. Those who stayed with their employer only saw a pay boost of 4.3 percent. The bottom line is simple: switching jobs gives you the best shot at a higher salary.
Strategies for Timing Your Next Job Move
As noted earlier, timing plays a key role in optimizing the amount of your next salary increase. Additionally, there are other points worth considering before deciding on another opportunity. For example, the percent in salary increase greatly matters when risking a move.
So look for an increase of at least 15 to 20 percent before agreeing to any job offer. Cost of living also matters, so expect an even higher salary boost before moving to New York City or the Bay Area. However, those kinds of COLA adjustments are expected to wane as remote working becomes more prevalent.
When grossly underpaid, it becomes easier to earn a large salary increase after finding a better opportunity. Again, make it a point to learn all about the average salaries for your job role. This information plays a key role in keeping your career on the right path financially.
Remember, an experienced tech recruiter helps immeasurably when trying to determine your worth in the industry.
So if you need advice on building a lucrative IT career, speak with the expert recruiters at Technology Partners. As one of the top technical staffing agencies in St. Louis, we know the companies looking for talented candidates. Connect with us soon!