Have You Outgrown Your Job?
How long have been in your current job? Five years, seven years or more? In all this time, you must have enjoyed impressive increments as long as your performance was good enough. As for your salary, with all these superb raises, has it reached the highest paid bracket in your industry? We think it has, and though you may find this to be a very stable sign, we regard it as very troubling. And we are not the only ones who do so. There are so many employers and talent acquisition managers who agree with us on this. Does this surprise you? Actually, it shouldn’t and we will tell you why.
A survey has found that around 43% of employers regard their employees as overpaid when they reach the topmost salary bracket ranges of the industry. Yes, this rings a warning bell. If you are among these, it is time to switch to another position before your employer decides to throw you out. For all the skills and experience that you may have if other people also can do the same thing as you can, and at a much lower salary, why would they prefer you over them? In the end, it is money that counts and while you try to get more of it, your employers will try to save more of it.
So what do you about the situation? Are your skills and experience going to go to waste? Actually, you will not be affected by the situation if you move up to a higher position. Needless to say, your salary will rise again, but every position has a different salary bracket associated with it. When you switch, you may not be towards the top of this bracket anymore, and so you will not be affected.
There are a number of solutions to the problem. The simplest of this is what we have already mentioned; boost your career to a higher position. You can do this at your current employer and you can even apply at other companies. For instance, if you are a manager right now, maybe you could think about becoming a department head. Or if you are an executive, then it is time to lead your own team.
So before the situation gets the better of you, you should actually get the better of it and switch as soon as you can.
Source: www.money.usnews.com