Salary increase: How to increase your salary by 30 percent by changing jobs cleverly
Created: 2022-06-20 10:06 am
By: Philipp Mosthaf
Changing jobs is worth it.
In particular, newly acquired skills are reflected in the salary.
© Christin Klose/dpa-tmn
Anyone dreaming of a higher salary should consider changing jobs.
According to a study by McKinsey, about 30 percent more is possible with every change.
Other factors also play a role.
Courage is rewarded – especially when changing jobs!
Anyone who changes their job voluntarily can look forward to a salary increase of 30 percent in Germany.
This is the result of McKinsey's latest study "Human capital at work: The value of experience".
Not only the job change plays a major role in a salary increase.
The frequency of the change is also decisive for a higher salary.
In Germany , for example, employees
who changed jobs more often – five times on average –
jumped by 30 to 46 percent .
In some jobs there is even a 75 percent increase in salary.
More salary in the new job - other factors play an important role
For the study, the management consultants from McKinsey examined four million de-personalized professional profiles from Germany, India, the USA and Great Britain.
Tens of thousands of job advertisements were also scrutinized.
In this way, the analysts were able to understand the career.
On average, the subjects changed
jobs two to four times in ten years
.
The salary jumps are manageable: for all role and job changes, the salary increase was only 5 percent on average – even involuntary changes after layoffs were included in the McKinsey study.
The analysis also shows that bold job and role changes are important for large salary increases.
Anyone who is outside the industry or changes to a new position that requires different skills can benefit significantly in terms of salary.
McKinsey consultants refer to this as “skill distance”.
It turns out that
the higher the percentage of newly learned skills in relation to the total know-how
, the greater the salary increases.
According to McKinsey, the average skill distance was 25 percent.
So newly acquired skills make up a quarter of the job change.
Do you want to stay, but still want a higher salary?
Here you will find ten tips for the ideal preparation for the interview with the boss.
Courage is rewarded - study gives cause for optimism for digitization
The study “Human capital at work: The value of experience” leads to the conclusion that companies should not judge applicants based on their current tasks.
The results should be optimistic against the background that in Germany, due to digitalization, around 6.5 million employees will be retrained to a large extent by 2030 and many of them will have to change jobs.
Anyone who shows the courage to acquire new skills and leave their comfort zone has good job prospects and the prospect of a decent salary increase.
Angelika Reich, partner and expert for reskilling and upskilling at McKinsey
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Salary increase not only through better training - experience is also important
Not only frequent job changes are decisive for a higher salary.
Training and experience play an important role.
According to the McKinsey study, work experience accounts for 60 to 80 percent
of income
for people with little formal education .
Do you know what your colleagues earn?
30 percent of employees reveal what they earn.
But what do the frequent job changes mean for companies?
Do you have to invest money in professionals who are changing jobs anyway?
After all,
80 percent of job changes are synonymous with a change of employer
, according to the McKinsey study.
Reich has a clear opinion on this point: "Companies must become 'learning organizations' in order to be attractive to talented people and to offer effective further training." Numerous studies show that further training opportunities are among the most important criteria when selecting a new employer.
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