I think many that argue that moving to a different company is nearly always your best option when it comes to receiving a dramatic pay raise. Sure, plenty of companies promote from within, but many times employers are hesitant to give an internal employee such a big boost in pay: it's a different situation from when they're trying to woo a "new" employee.
That being said, there's some interesting info in that release; I'm slightly surprised by how in demand Oracle experience still is. I wonder how (if?) that will change in the coming years. Also not surprised to see that Los Angeles dropped; there's certainly more supply than demand employment-wise in this sector at the moment.
Jokes apart, Could you please check if the link is working fine ? I couldn't open that link.
Regarding the article, you will always have different pay at different regions based on the local factors and living style, which will obviously makes difference in your pay-package. Is this factor you are pointing or something else ?
Barbara, you are very much right. During the recession period, many companies had cut down employee’s salary and forced them to work either with lower take home salary or without perks. Now it’s the post-recession period and almost all IT sector companies recovered from the traumatic situation. As a part of expansion, they have started to expand their operations globally and hence start hiring the new faces. As a part of expansion many vacancies are available across the companies and many of them are facing shortage of matching technical skills.
This scenario opens a vast opportunity for the employees and job seekers. If one would like to continue with the current employer, then he has to satisfy with the general hike offering by that employer. Normally employer may offer 05-15% hike per year depends on the performance and other criteria. But if one is looking for a new employer or company, then the salary is based on his/her interview performance and bargain capability. In new company his/her salary may vary between a minimum of 25% of last drawn salary and even up to 100% in certain cases.
Now a day’s employees are also more cunning, they use to attend interview with other companies & on the basis of interview discussion, they may fix up with a higher salary. With the new offer, they may approach another companies for discussion and finally discussion will end up again with a new higher salary structure. With this new offer, they can either join with the new company or can approach the current employer for a better package. See how things are working out in a fast moving world….
I am usually not a big fan of the "grass is greener" approach. I would take a look at one's satisfaction level in their job. Wages alone do not define a position and if one chases better pay, they could end up with a company that they are not happy with for many reasons other than pay.
One should seek opportunities outside their own company if for some reason, they are unhappy with their current employer. If the employer is a good company and one is happy in their job and potential future prospects, money will follow. We are still in the phase of companies hoarding cash making them reluctant to offer the raises necessary to keep their employees motivated. I am really hoping that phase will end soon and companies start to invest in their employees once more.
IT jobs has been cyclical since the .com burst. It has pretty much mirrored the economic pulse. Most of the companies have been firing and hiring in a knee jerk reaction to the economy and employee loyality has not been considered by many of tech companies. So the employees too are reaching for the highest bidder. In some cases the riisk has been worth it, since the employee has no control over their tenure in these companies.
You would think the skills level and experience would count for something and guarrantee the jobs especially for the older employees!
I work in Europe. Does the conclusion in this article also valid here? Most of the time the salary increase (if more that 10% or so) in new company comes with extra responsibility or a promotion. Has this factor been taken into account?
The article cited is no longer available on the original link and I can't find it on Dice.com's Website either--I apologize. The original study was restricted to the US and regions within the US. I'd be hesitant to draw any conclusions from this about global trends, particularly since the original report is not readily available.
I agree with your comments - I know of several situations where someone moved to pursue a better opportunity (or in some cases, to continue working), only to be laid off after a short tenure in a new location. There are many valid reasons to pursue a new opportunity with a new company, or move locations within the sme company, but as you stated, the grass is not always greener.
Two natural laws to keep in mind: 1. production is the basis of morale; 2. production generates the income necessary to fund compensation. Point being, employees and managers need to shift their emphasis toward producing products (and that encompasses tangible, exchangeable products and services). Otherwise, your competitor will and reap the rewards.
Quite often we ask a client what their product is and the answer is pretty much on target; for tangible products that is. Then we ask individual staff members, particularly those in admin or service posts the same question, and invariably you get a lag in their reply. "Product? Well I don't really 'make' a product, I just handle invoicing," or "I run the QA area in the production area." The truth is, there are products to these positions and that's what has to be clarified and integrated into any review. There are instances where incentives can be developed for "non-sales" employees, which can help staff find ways to make more money for themselves and the organization.
The admin department in many organizations are often detached from the production unit. Some of the admin staffs do not even know that they are complementary to the production unit and like you stated the staffs often have no idea what is being produced.
Hopefully operations directors are knowledegebale enough to help the entire staff of the organization link their roles to the product or services of the organization, as well as knowing how each department is interelated to the produciton team to serve the consumers in service organizations or products.
Money definitely is a deciding factor for an employee to keep a job or to move on. Actually, salary hike is one of the biggest incentives for an employee to stay motivated and perform better.But changing a job just because you did not get the expected hike is also not right.If the hike is not good because of your performance or because of an industry slowdown - think again. The circumstances may be the same elsewhere. It is better to stick to the old company and wait for the next time and at the same time job satisfaction is also imporatant while switcing to a new company.
with changes prevailing in the employee Job description and the fabulous packages been given today if your shifting your companies, this is becoming a highlighter for the all the folks so attrition rate is also increasing to a greater extent in many companies. as u said only in certain cases the circumstances of moving to a new job turns to become bad, but new job can rejuvunate you, different environment, new work place, new colleagues in a way its good to change jobs.
Hi Saranyatil thanks for pointing this out --> "New job can rejuvunate you, different environment, new work place, new colleagues in a way its good to change jobs."
I am currently in this situation..For me right now raise is not the primary concern why some people are looking for a new job. The other things that a job hunter is looking is work-shift flexibility and health benefits.
Nowadays all the companies are cutting cost and trying to squeeze their employees. They have all the power because of the increasingly available labor from other countries such as India, Russia or China. If you don't want the job, many people will be willing to take it at a much lower salary.
While it may be true that switching a job may get you a higher pay, but it's no guarantee that it will. A better approach may be to improve yourself at your current job and try to become indispensable. Once the company realizes they can't perform without you, the employers may be happy to offer you a raise. It has always worked out for me :)
It is quite true to be indispensable and can offer something that the company really needs. To some extent, how can we achieve such level being indispensible? Sometimes moving to different companies may help us build up something unique.
Speaking of hiring, the IT consulting industry is notorious these days. They keep hiring new people at a much higher rate and laying old timers off. Of course, some of it is to get rid of the bottom of the food chain but there are also alot of innocent victims who happened to be at the wrong place at the wrong time. So the truth is, if you do want to move up, you better apply for jobs with your competitors. They are willing to increase 30% - 50% raise depending on the situations.
In today's economic climate many companies will attempt to exclude pay increases from their business agenda's. However, it is true that in order to secure that pay increase, a move is definitely what an ambitious person should consider, particularly where career-enhancing opportunities are very limited in an organisation.
In the UK, technology workers are finding it hard to move on to better opportunities, as pay has remained stagnant. In order to realise a pay increase, it maybe that a person may have to move away from the shores of the land they are based to other countries that need their expertise.
The UK government is urging pay restraint and at the present time has frozen pay in the public sector with quite a considerable number of public sector workers about to be made redundant. This course of action will mean that the private sector will be inundated with people with a wealth of experience. To the private sector this is an open door opportunity to get expertise on the cheap rather than encourage pay increase.
I guess this would be the most common topic that affects everyone. The headline says it all. In today's economic conditions its difficult to expect pay raise and preparing to move would be riskier. But there are some people who change jobs much often. It would necessarily be for them.
EBN Dialogue enables and encourages you to participate in live chats with notable leaders and luminaries. Not only editors and journalists, but the entire EBN community is able to comment and ask questions. Listed below are upcoming and archived chats.
Thailand Stages a Comeback Join EBN contributor Jennifer Baljko on Thursday August 23, 2012, at 11:00 a.m. EST for a live chat on how electronic manufacturers in Thailand have shored up their supply chain to reduce the impact of future natural disasters.
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Join EBN contributor Jennifer Baljko on Thursday August 23, 2012, at 11:00 a.m. EST for a live chat on how electronic manufacturers in Thailand have shored up their supply chain to reduce the impact of future natural disasters.
Peter Drucker famously said "Trying to predict the future is like trying to drive down a country road at night with no lights while looking out the back window." Yet in the razor's-edge world of electronics—with a lean supply chain and just-in-time demands—the need to know the future is vital.
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You've heard the saying "the No. 1 supply chain risk is your people." That hasn't always been the case. But today's complex global supply chain requires a new type of multitalented employee. It's one who understands, finance, marketing, economics, is savvy with technology, graceful with relationships and can think analytically.
Where are these people? Are universities properly preparing the next generation supply chain professionals? How do train your existing workforce for these new, demanding positions?
Brian Fuller, editor-in-chief of EBN, will lead a 60-minute Avnet Velocity panel discussion that will ask and answer these and other questions swirling around today's supply-chain talent challenges.