How’s the Job Market in 2012?
Although what you’re about to read here may be contradictory to what you currently read in the news, keep in mind the recruiting sector is a leading indicator of the markets where payroll and unemployment numbers reported are both lagging indicators and have too many matrixed inaccuracies to discuss here.
If one thing is true in 2011, it's the simple fact that the job market has swung from being client-driven to one that is dominated by candidate demand. Highly qualified job seekers are at a major shortage and it is becoming more evident that companies looking to hire are facing hugely increased competition at interview and offer stages within the recruitment process.
Competition is fierce at most experience levels and this is also driving salary levels upwards at an increased rate month-on-month. The honest truth in a cycle like this, if you want a pay rise or promotion you may need to jump ship and join a new company. And there is no shortage of firms who are screaming out to attract people to them right now. Employers are finding candidates rejecting offers at an alarming rate from multiple offers being made simultaneously. Most employers are changing what was an endless multiple interview schedule to a phone screen and one face to face team interview, streamlining the decision process.
Check your skill against indeed.com and salaries against glassdoor.com or salary.com and you get a fair picture for past compensation and current market demand.
As the frenzy builds, make informed decisions by doing due diligence on the company you’re considering. Jumping from a bad situation to potentially worse one usually happens when a candidates has not done enough research. The employer will do a reference check on you – with tools like Linkedin.com, you can do the same on them.
Larry Rubin is currently the Managing Principal of both Talent Partners and IT Services – Engaged Search Consultants and Executive Search.