What is the Industry Standard for a Salary Increase When Making a Career Move?
In this industry, across the country, we typically see a 7-10% increase when someone makes a move. With the average yearly salary raise about 4%, that makes an 8% jump the equivalent of a two year increase in compensation, so anything above that is a nice increase. Of course, there are other factors, such as benefits, sign on bonuses, relocation packages, and path to promotion, training, etc… We suggest considering the following when making a move:
- What is my top number; the amount I would accept without any hesitation?
- What is my bottom number; the lowest amount that I would actually accept if all other factors made it worth the move?
- What is my mid-range number, or the most realistic offer that I can expect?
Posted in Salary Changes