Why Switching Jobs May Be Key to a Better Payrise

Act like you’ll never get a payrise. 💰(Because if you’re in tech it’s likely you wont)

If you want a raise here’s what you likely need to do:

→ Leave your current role. 😱

Not just threaten to leave, but actually do it. Shocking I know.

We’ve been lead to believe that we just need to:

→ Do good work

→ Show our value

→ Wait long enough

But in the tech industry, waiting for a pay rise can often be a fruitless wait. I’ve seen it time and time again.

The bitter truth is this: to see a significant jump in your salary, you often need to leave.

Here’s why:

1. Market dynamics - New roles often come with higher pay scales to attract talent, which your current employer might not match.

2. Limited internal budgets - Many companies have rigid salary structures and budget constraints. They may not have the flexibility to offer substantial raises (or say they can’t 😉)

3. Recognition of worth - Sometimes, it takes stepping into a new role to be fully appreciated and remunerated for your skills and experience.

4. Negotiation leverage: When you start at a new role you can negotiate. (I encourage negotiating as if you’ll not get a pay rise in your new role either - so do it well).

5. Career progression: Moving companies can not only increase your salary but also offer broader career advancement opportunities that your current job may not provide.

I’m often giving career advice to those in the tech industry.

While this may be counter to what you’d like, it’s the reality I’ve seen over the years.

Staying agile and open to new opportunities can be key to achieving your financial and career goals.

What do you think?

Get in touch to find out how I can help.