By Aoibhinn McBride — venturebeat.com — From rising inflation to mass layoffs in the tech industry to the collapse of Silicon Valley Bank, economic doom and gloom has dominated the headlines in 2023. The threat of recession has also been lingering in the air but new data by Goldman Sachs Group has found that the chance of recession has fallen from 20% to 15%. This is down to two major factors: inflation has cooled from the record-breaking 9.1% we witnessed in June 2022 and currently sits at 3.7%. Secondly, the labor market remains in good shape, despite the aforementioned layoffs. As a consequence, disposable income is on the up and is predicted to accelerate in 2024. So what does that mean in terms of finding a new job? Should you stay put and wait to see what unfolds in the new year or get ahead of the curve now and start looking for opportunities before the holiday season slowdown? Here’s how to work it out.
Career credit check
For starters, it’s a good idea to identify if you really need or want to move jobs and if moving jobs will put you in a better position financially. According to the Federal Reserve Bank of New York’s Center for Microeconomic Data’s July 2023 Survey of Consumer Expectations, salaries have increased by nearly $10,000 on average compared to July 2022. The report identified that in July, the average salary for a full-time job was $69,475 compared to $60,764 a year before. And for those switching jobs, the lowest amount workers were prepared to move for was almost $6,000 higher than what was deemed acceptable a year previously — meaning job seekers are in a prime position to ask for, and get, more money.
Professional gains
Next, look at what a new job will grant you in terms of professional development. If a better job title seems out of reach in your current role or you feel like you’re stagnating and not learning new skills, switching jobs should be a priority. Similarly, if your current employer isn’t offering learning and development opportunities, on site or through a third-party provider, moving jobs to a company that prioritizes L&D and has incorporated it into its benefits package is something to consider. And if you do find yourself on the job hunt, the VentureBeat Job Board is the ideal place to start your search. It features thousands of tech jobs across the U.S. including the three below.