Here’s what you need to do when crafting your resume and LinkedIn profile.
Today, we want to discuss an important aspect of the 2023 market: compensation. Over the past 12 to 18 months, compensation has undergone significant changes. It’s astonishing how much difference a year can make. In certain segments of the market, we’ve observed slightly lower compensation compared to a year and a half ago.
We’ve noticed a decrease in elements like starting bonuses and shorter initial guaranteed ramp-up bonuses. When starting bonuses are offered, they tend to be shorter and smaller in amount. I’m sharing this information to ensure that if you come across an opportunity that seems like a great fit, and you’re concerned about the lower and different compensation compared to a year or two ago, you understand that this reflects the current market conditions.
“This shift is evident in various aspects of compensation, so it’s important to be aware of these changes.”
We’ve always believed that the best approach is to prioritize the best overall fit over the highest compensation. If you haven’t been actively job searching in the last 12 months, you’ll find that the market has changed significantly since your last search. This shift is evident in various aspects of compensation, so it’s important to be aware of these changes.
If you’re considering an opportunity that appears to be a perfect fit but has slightly different compensation than you remember from a year or two ago, it’s essential to keep in mind that this is the current norm across the board.