Exploring Job Change Trends: Salary Expectations and Shifting Priorities in 2023
16 August 2023 by Damian Farrell
The job market has been a whirlwind in recent times. The year 2022 saw an impressive surge in salaries, however, as the industry landscape stabilises, we have observed that professionals are now driven by a broader spectrum of considerations when deciding to switch jobs.
While salary remains a pivotal factor in any job move, professionals are seeking roles that align more closely with their personal preferences and well-being. The option of remote work has revolutionised the way people perceive their professional environment and the prospect of remote work plays a pivotal role in their decision-making process. As work-life balance takes centre stage, individuals are willing to explore opportunities that offer more flexible work arrangements.
In the realm of job satisfaction, benefits and rewards are emerging as key drivers. Prospective employees are drawn to companies that provide comprehensive benefits packages with healthcare, wellness programs, and other incentives that enhance their overall quality of life. With mental health gaining priority, professionals are actively seeking roles that offer reduced stress levels. A conducive work environment, supportive management, and a healthier work-life balance have become essential components that influence job decisions.
The New Horizon: Salary Expectations
As we head into the final quarter of 2023, the critical question remains: what are professionals’ salary expectations when considering a job change?
With 92 respondents participating in the LinkedIn poll, we gained valuable insights into the changing dynamics of job changes and the role of financial incentives in this process.
Our research poll unveiled enlightening insights:
3%: A small percentage of respondents would consider moving for the same salary.
5%: A slightly larger group would consider a move for a pay increase of less than 5%.
36%: A substantial portion indicated a willingness to move for a salary increase in the range of 5-10%.
55%: The majority of voters expressed a willingness to change jobs if the salary increase exceeded 10%.
In conclusion, the job market of 2023 is characterised by a dynamic interplay of factors that influence professionals’ decisions to switch roles. While salary remains a crucial aspect, the desire for improved work-life balance, better benefits, and reduced stress levels have reshaped the landscape of job changes.
Abacus Careers recognises these shifting trends and is committed to helping both candidates and clients navigate this evolving landscape successfully. Whether you’re a professional seeking new horizons or an employer looking to attract top talent, understanding these trends is crucial. We combine our expertise and insights to create tailored solutions that align with the evolving dynamics of the job market. Connect with us today to embark on a journey that leads to mutual success and growth.
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