This might be the best way to increase your salary as a consultant.
I hired people, did salary negotiation, gave yearly pay raises, but I never give them my best advice to raise their salary.
Switch jobs! Sad but true.
Job-hopping can boost your salary more than those who stay! Job-hopping is also not seen as negative as it used to be by hiring managers.
Staying for the yearly pay raise increases your salary by 1%-3% and if you’re incredibly lucky up to 5%. When you switch jobs that is between 5%-10% (but aim higher 10%-20%).
✅ Do when you’re young and unexperienced.
You will learn a lot, see a lot and be better at adapting to new environments. Thats why I advise working for a consultancy company or implementation partner: you will learn these skills even when not job-hopping!
✅ Do when the market is clear that you are underpaid.
You’re getting higher offers from other companies or recruiters. You can even use this in your yearly pay raise negotiations: it’s hard proof you have. I really appreciated it when an employee first came to me, before accepting an outside offer.
✅ Do when you have new skills that make you more valuable.
You may have gained several new skills in a short period, thus outgrowing your role at the company. Talk to your manager about taking on more responsibility – and a raise – if this is the case. If they aren’t supportive, it’s a sign you should start looking elsewhere.
Even if you’re happy at your job, getting a new job for more pay is a good strategy as inflation eats into paychecks. But make sure you’re not doing it solely for the extra cash, being happy in your daily job is also important!
But please don’t take this advice when I have hired you 😉!
