Sometimes, the grass really is greener on the other side. But often the costs of switching jobs can more than offset the positive changes.
Before you make that jump however- or start preparing for it at least- there are a number of important things to think about. Carefully consider these 5 factors if you’re thinking about a job switch:
Salary. In more than 90% of job changes, an increase in salary is a primary factor. Be sure to check benefits and employer 401k contributions to get a holistic comparison of salaries.
Location. Moving cities can be a significant source of stress especially if you have a family who’s life you’ll be uprooting as well.
Future Growth. There should be opportunities for promotion from one position to the next, including the chance for a higher salary, retirement benefits or a more flexible schedule.
Work Culture. How long has the company been in business? Is it a small startup or an established fortune 500? Different people are attracted to different business sizes and the variety of unique work cultures that come with each- make sure you’re choosing a business that fits your identity.
New Leadership. Your manager will be the most important person in your new job. It’s important to understand their working style and personal values.
These are all things you can ask about during a job interview, but it’s worth noting they’re increasingly relevant when comparing two specific job opportunities.
If you’re struggling with the broader issue of whether you should start exploring new job possibilities in general, you should start by understanding the state of the job market – both in general and within your specific sector.
Consider recent changes in the unemployment rate and new hiring statistics. As a potential employee, you’ll typically have more options and bargaining power during periods of low unemployment when most firms are looking to fill open positions.
According to the U.S. Bureau of Labor Statistics, the monthly unemployment rate has been between 3.4% and 3.6% this year.