I spoke to a candidate recently with a solid treasury background. International experience. Good energy. Very bright.
But also a slight disconnect with the reality of their situation…
Currently, they are between roles. Their last position paid £60k with a promised bonus that never arrived.
Understandably, they’re frustrated and keen to find a new role.
So I ask the usual question:
“What are you targeting salary-wise for your next role?”
The answer?
“£80k.”
Now, I know the job market’s tough right now. And yes, I’m the first to say people should be paid what they’re worth…
But there’s a difference between knowing your value and expecting someone who doesn’t know you to give you a 25% raise while you’re not working.
As much as I wish I could, I can’t pluck your dream job and a 25% pay bump out of nowhere.
And here’s the truth:
When you’re not working, the goal is to get back into a good role. Not to hold out for a raise you feel you’re owed.
What’s even trickier is that now they have said £80k is their minimum, do I not pick up the phone to discuss a great opportunity at £70k? Or £65k?
Even if it could set them up for a much bigger step in 12 months?
You can always say no to a role. But you don’t want to price yourself out of your next opportunity. And the market doesn’t care about your last boss, your bonus, or how frustrated you might be…
It cares about what you can bring to the table NOW!
And if you’re thinking about quitting your current job before you’ve got something else lined up, you better be 100% positive it’s the right choice.
Unless your current role is completely unbearable, it’s almost always easier to find your next role while you’re in one.
You’ll have more leverage, more confidence, and way less desperation.
So, to anyone out there feeling stuck, undervalued, or fed up, by all means, look for something better…
But don’t bank on being able to get that new role without considering that you might have to make some sacrifices.
Best regards,
Mike
P.S. Not sure where your salary sits in today’s market?
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