With the economy on the up and demand for fiscally-savvy staff in a broad range of industries, the amount of opportunities in the market place is growing by the month. Research from Marks Sattin reveals that those working in the industry are feeling increasingly secure, and are more open to moves, with just 28% of respondents ruling out changing jobs in the next year.
Taking a new role can be highly lucrative for finance professionals. Our research revealed that the average finance professional would seek a salary premium of 15% on their basic package to consider a move – an average increase of £10,062 on the £67,083 average salary. However, cashing in is not the only reason why a career-development minded professional would seek to change jobs. A new challenge can bring with it improved prospects for career development, and can often see a candidate move into a more senior positon.
However, financiers should be cautious not to move too frequently. Loyalty is an understated but important attribute and a CV littered with stints of less than 18 months is certain to raise eyebrows. Many employers in this sector make significant investments in staff development and remunerate generously – so there is a need to ensure that a candidate will not take flight as soon as an alternative offer appears. Furthermore, job hoppers do not only risk coming across as opportunistic, but also as ‘difficult’ employees who may find it hard to adapt to a set working culture and integrate successfully into a workforce.
Finance professionals should of course seek to take advantage of the benefits that job moving can bring, but proceed with caution – too many moves and the offers may dry up.