Significant Career Lesson From Investor Relations At Right Side Capital Management
Sabrina's significant career lesson is that job mobility can significantly boost earnings; "moving around jobs... I doubled my salary," and this experience, coupled with observations of colleagues, shows that salary increases exceeding 10% are often attainable by changing employers, rather than relying on incremental raises at a single company.
Salary Negotiation, Career Advancement, Job Market Trends, Financial Planning, Professional Development
Advizer Information
Name
Job Title
Company
Undergrad
Grad Programs
Majors
Industries
Job Functions
Traits
Sabrina Waite
Investor Relations
Right Side Capital Management
Cal Lutheran University
NA
Business & Related, Finance
Finance (Banking, Fintech, Investing)
Operations and Project Management
Scholarship Recipient, Took Out Loans, Worked 20+ Hours in School, Greek Life Member, Transfer Student
Video Highlights
1. Changing jobs can lead to significant salary increases. Sabrina mentions doubling her salary within three years of graduating by changing jobs, and describes a colleague who received multiple raises by switching companies.
2. Don't undervalue yourself. Negotiate for at least a 10% salary increase when changing jobs; Sabrina suggests that it's possible to achieve much larger increases than that.
3. Stagnant salaries at one company are common. While some companies offer good treatment and raises, it's often necessary to change jobs to achieve significant salary growth and career advancement.
Transcript
What is one lesson that you have learned that has proven significant in your career?
I think some people might disagree with this, but moving around jobs can be beneficial. Back in the day, staying at one company for 30 years was the goal.
However, I would say the opposite. After moving jobs within three years, I doubled my salary from when I graduated, and my colleagues experienced similar growth.
I had one manager who worked for one company for 10 years. She left for my company and received a salary and title increase. She only stayed with us for about six months.
Her old company then asked her back, offering an even higher salary. So, within six months, she had left a 10-year position, received a significant increase elsewhere, and then got an even better offer to return to her previous employer.
This shows that staying stagnant at one company isn't always the best strategy. While some companies truly value their employees, others might just offer a small annual raise.
When you consider a new job, I advise not accepting an offer unless it's at least a 10% increase from your current salary. Often, employers don't know your exact salary, so there's potential for a much larger increase, even 50% or 100% more.
It's about selling yourself and not staying put. This approach also provides you with much more experience in your field. That's my advice.