A survey reveals that 95% of Americans are considering job hunting in 2024. Here's how to make a strategic switch.
According to a January 2024 survey by job site Monster, 95% of Americans plan to search for a new job this year.
A significant number of workers, 45%, cite money as a major reason for needing a higher income.
On average, job switchers experience a faster increase in salary growth compared to those who remain in their current positions. However, solely concentrating on salary may not be the most advantageous approach.
Government data reveals that the jobs most women hold in real life are similar to those in Barbieland. Equal Pay Day underscores the $1.2 million salary gap that women of color face. Many workers believe that pensions are crucial to achieving the American Dream.
From the beginning of her career, Kyyah Abdul, a 29-year-old biotech and pharmaceutical global regulatory affairs consultant, had a goal of eventually working for herself.
"Abdul, based in Los Angeles, shared with CNBC that he has always had a clear vision of where he wanted to be in a specific time frame. He told himself that by the age of 30, he would gain enough experience and exposure to the necessary skills to establish a consulting firm."
Abdul has prioritized skill development over financial gain. She has changed jobs in her field six times since 2016. The first time she left, she accepted a $20,000 reduction in pay to gain experience.
"I knew that it was okay because it would come back tenfold based on the experience I was going to get at the new place of work," she said. "I ended up almost doubling my salary after a year and a half."
Abdul informed CNBC that she increased her salary through promotions and job changes.
Experts suggest that focusing on experience can protect employees from layoffs by justifying higher pay through the acquisition of new skills.
Julia Pollak, chief economist at ZipRecruiter, advised against rising up the ranks too quickly and becoming an expensive head who could easily be chopped during any downturn.
"Abdul stated that many individuals desire to job hop in search of higher salaries, but fail to comprehend that this often entails additional responsibilities and expectations. He emphasized that this relationship is mutually advantageous, but if one cannot fulfill their obligations, it can lead to termination."
Consider leaving your job and approach your job search strategically by watching the video above.
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