Majority of Jobless are Finding Equal or Higher Salary
by Richard Bayer, Ph.D.
Many unemployed job hunters may presume they’ll be forced to take a pay cut when they do land their next position. That is absolutely untrue. Most unemployed job hunters using The Five O’Clock Club approach have found jobs that paid more than or at least the same as their previous position. In fact, our success rate is 73 percent.
Five O’Clock Club research shows that by following a few simple steps, unemployed job hunters can even earn more than they did in their last job. This has been proven over time: even during the recession from 1987 to 1992, Club members who had been unemployed for as long as nine months to a year-and-a-half still found jobs at market rates.
There are four basic steps unemployed job hunters should take to increase their chances of getting the pay they deserve:
- Have six to ten job possibilities in the works. Having concurrent possibilities moves the emphasis from: “What have you been doing the last 18 months?” to “What are other companies offering you?” Even an unemployed job hunter can be the subject of a bidding war between companies.
- Have a good answer to “What have you been doing since your last job?” No one wants to hire someone who’s been idle, discusses financial problems, or talks about being unable to find work. Keep up to date on your field, join trade associations, read industry journals, do a project — even for free — that takes a week or two. Then when employers ask what you have been doing, you’ll have plenty of constructive topics to talk about.
- Don’t talk about pay. Often unemployed job hunters undersell themselves in salary negotiation. Postpone the discussion of salary until you actually have an offer. Remember that the person who names a number first loses. And you don’t want to talk about money until they want you and only you for the job.
- Have a good answer to “Why did you leave your last job?” Employers only ask this question because they have to. You care more about this than they do. Don’t go into details, but be brief and concise. Statements such as “My company had a downsizing and I was caught in it” will enable you to get off the subject quickly. And “I’m very interested in doing the same kind of work again,” will help steer you toward the future.