Salary vs. Job Satisfaction: Factors to Consider Before Quitting Your Job

Job hopping is on the rise. Millennial workers are increasingly seeing the career benefits of changing jobs every few years.

The phenomenon is supported by the fact that it’s easier to get a higher starting salary in a new job than to be promoted to an equivalent salary bracket within the same organization.

The ceiling can be quite low in your current job and you might see more development by moving laterally to another company.

If you’re sitting there dissatisfied about your performance review that yielded no promotions, read on for some of the best job hunting tips.

Preparing to Reenter the Job Market:

• Organize Your Finances:

  I know you’re asking, “Should I quit my job?” because you want better terms. Before you make the leap, it’s prudent to make sure your finances are in order and you can weather the search.

  The ideal situation would be to get headhunted right into a suitable position, but this is not always possible. You may have to quit before your search begins, which means finding .

  In 39 states, it’s legal to get denied a job because of bad credit. Don’t shoot yourself on the foot with a bad credit score. Organize your finances with a debt-free budget that will tide you over until you find your dream job.

  If you’re a recent graduate who has returned to school to level-up, you’re still not exempt from credit woes. If anything, good credit scores for recent graduates can be a tricky balance to achieve with all the student loans to repay.

• Evaluate Your Job Expectations:

  You will need to polish up your resume, but first, what are you expecting of the new job on the horizon?

  You need to investigate what you can realistically earn from the positions you’re considering. Is your current salary commensurate with the job description? You shouldn’t be considering a move for any amount less than a 10%-25% increment.

  If your current salary is appropriate for your workload, how can you spice up your resume and marketability to justify asking for more pay?

How to Find a Job With a Higher Salary:

The last thing you want to do when planning to reenter the job market is to send a ton of unsuitable resumes. Your energy is better used in crafting a skill set and resume guaranteed to get you shortlisted.

These tips focus on what you need to do to prepare yourself to land that higher paying job.

• Research the Prospective Companies’ Financial Health:

  Before jumping into uncertain, job-seeking waters, it is crucial to do your due diligence.

  Compile a list of the companies you’re considering and thoroughly research them.

  • How well do they pay?
  • What headroom is there for career development?
  • How much do they pay for the positions you’re considering?
  • What is their turnover and are they financially stable?
  • What is their company culture and does it suit your ethos?

  While you should definitely ensure that the company pays well, money is not the only important metric. Look companies up on Glassdoor to see their salary ranges and real workplace reviews.

  Most employees have reported that fulfillment in their work, the pace of work, and career development options bear as much weight as the salary and benefits.

• Level up Your Skillset:

  Showing a willingness to learn and boost your skill set will strengthen your resume. Look for and volunteer for opportunities to shadow or partner with other skilled people in your organization on projects you would not normally take on. This cross-training will enrich your skills and increase your marketability.

• Market Yourself as an Expert in Your Industry:

  You need to market yourself as an expert in your field in order to increase your exposure to headhunters and build up your desirability.

  • Consult on part-time projects
  • Speak at industry conferences
  • Publish a blog, e-book or white papers on relevant topics to your field
  • Take the content game up a notch with creative and informative videos on YouTube and other social media platforms
  • Look for guest speaking opportunities on podcasts, or online radio

  The idea is to make your name synonymous with your field of expertise, which will add social proof to your resume

• Take Calculated Risks:

  To score a better-paying job, you need a bullet-proof confidence in your existing skills and ability to adapt to new work environments. Take smart risks by applying for jobs well above your current pay grade.

  Don’t balk at not meeting the full list of requirements. Focus your resume and application on your strengths and what you can bring to the company if hired. Many companies are flexible on the requirement list provided there is a demonstrated capacity to learn and an existing skill set.

• Develop Your Leadership Skills:

  Leadership skills are marketable across the board. If you’re not already in management, look for opportunities to hone your leadership skills.

  Leadership opportunities include:

  • Mentoring an intern or entry-level employee
  • Facilitating internal training seminars
  • Volunteering to lead CSR (corporate social responsibility) initiatives and activities

Get Noticed:

All the planning, research and preparation discussed above will mean nothing if you can’t get your resume in front of the right eyeballs.

Join a curated job board where the relevant recruiters can easily find you. Don’t be shy about networking and putting yourself forward, be it online or in person. The most innocuous conversations can yield great connections and possibly your next job.

Seeking out career advancement opportunities should be a well thought out and researched move. Do the necessary research, build up your skills and brand. Remember to make sufficient financial plans that will ensure your good credit is still intact when you finally get the higher paying job. You’ll get to enjoy the perks with no pressure.