Here’s how you can effectively show employers you’re the best candidate.
Navigating the job search can be challenging, especially when it comes unexpectedly. I’d like to discuss how job seekers like you approach the process during such times. It is vital to consider how your mindset and views on compensation can influence your strategy. By understanding these factors, you can better position yourself for success and make more informed decisions as you move forward in your job search.
The Common Approach to Compensation. Many people follow a simple math equation during their job search: they wait as long as possible to get the same compensation they had at their last job. They think that the higher salary will compensate for the lost time, even if they have to wait another month or two. The idea is only to take a job that pays what they earned before, believing it will take too long to return to their previous salary level.
The Hidden Costs of Long-Term Unemployment. People often overlook the more complicated math—the cost of staying unemployed for an extended period. These costs are significant. One major issue is that getting hired can become increasingly difficult after you’ve been unemployed for a long time. Even securing interviews can be challenging after a significant period of unemployment.
“Consider the complete picture when deciding your salary floor to be employed.”
When to Reevaluate Your Salary Expectations. If you’ve been job-searching full-time for 60 days without receiving an offer within your desired salary range, it’s time to reevaluate where you’re setting your bottom line from a compensation standpoint. You might need to consider being more flexible with your salary expectations or broaden the opportunities you’re willing to entertain.
Understanding Salary Trends. Consider recent salary trends, especially in fields like commercial software sales. From 2018 to 2022, salaries increased significantly, but from 2022 to 2024, they have decreased for many people. If you land a new position in 2022, the salaries offered in 2024 are lower than what you made back then.
The harder you hold on to the idea that you won’t accept a penny less than what you earned before, the longer your period of unemployment could stretch out. This prolonged unemployment can bring costs many job seekers don’t consider when considering their salary. So, as you navigate your job search, make sure you’re looking at the whole picture when deciding where to set your salary floor or how flexible you’re willing to be with new opportunities. Contact me at brockboyd@cmicareers.com to know more. Happy hunting!