It may be very tempting to see a high salary and go for a job; however, if this salary has no progression or the sector has a ceiling on earnings, you could end up feeling stuckLooking for a new job or career usually begins with thinking long term about the salary you hope to earn; for example, not many people go into medicine without being aware of the high salary and job security. It is important to work out what you want to do with your career to be happy and content, but sometimes this does not go hand in hand with high salary increases.
It may be very tempting to see a high salary and go for a job; however, if this salary has no progression or the sector has a ceiling on earnings, you could end up feeling stuck. With this in mind, speaking to recruitment consultants or researching sector trends should be the first thing you do when job hunting. The internet is littered with statistics for jobs in the market, with the jobs with the highest demand not always correlating with being the highest paid.
The Independent published a list of roles with the best pay rises for 2015, with construction topping the list. Construction workers received a pay rise of 10.2 per cent last year. Compare this with the pay rise for those in retail, which was 5.9 per cent, and you can already see that construction pays significantly more.
Retail is notorious for entry-level positions that do not require a specific qualification set, which means the recruitment of retail workers is less comprehensive than that of construction workers.
If you are looking to earn more than the basic wage – such as the national living wage – retail may not be the sector for you, as it is commonly known for paying the minimum wage. There are supermarkets out there that are now meeting the national living wage; however, these jobs are in high demand and have a lower staff turnover.
At the other end of the scale, manufacturing and hospitality roles saw pay increases of as little as 2.5 per cent. Finding the best roles in the highest-paying sectors can take some research; however, this is the best way for you to decide in which sector you would like to work. Research shows that those working in finance, accounting and business services could see significant pay increases over time; in addition, if you are fully qualified in any of these sectors, entry-level salaries are highly attractive.
There are many companies out there that can give more information on the most popular jobs vs salary levels; for example, while jobs in the entertainment industry are highly popular and sought after, they are difficult to break into and very competitive in their market.
Understanding how to progress in your chosen career is imperative to your future. Using tools such as Glassdoor’s Know Your Worth can calculate your personal market value and earning potential based on the current job market; however, this is currently designed for those in the US.
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