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Salary increase after losing your job - A How-to Guide

Updated: Oct 31, 2023

If I stand firm in negotiating my worth, what if the job goes to another candidate?

This question is often asked by candidates who are in the job market and are desperately looking for their next role.

The fears of salary negotiation become even more pronounced after facing a layoff. The looming question that haunts many is how am I going to pay the bills.

This dilemma is a common one.

Glasses in front of a eye-chart
Photo Courtesy - Unsplash

The toll of Layoffs

Layoffs shatter the very essence of our professional identity, denting self-worth and confidence. The ensuing financial strains, paired with this confidence blow, often steer individuals towards hasty decisions. There's a pressing urge to secure any job, sometimes at the expense of a deserving salary increase.

The importance of a premeditated negotiation strategy cannot be overstated. Think of it as an emergency career toolkit — a resource you wish remains unused, but proves indispensable when the situation calls for it.

The essence of the emergency toolkit revolves around the practical 1-2 strategy, an approach that ensures one foot remains grounded in the present while the other strides towards the future. It is a two-pronged plan.

First, there's the "1": securing and dedicating yourself to the job at hand. By embracing the current role, you not only address immediate financial or career concerns but also allow the potential for it to evolve into a fulfilling long-term position. However, this doesn't mean putting on blinders to other options.

Enter the "2": simultaneously, you maintain a proactive stance towards market trends, always keeping an ear to the ground for emerging opportunities that better align with your ultimate career aspirations.

Jane's Journey: A Case Study

To better understand this two pronged approach, let review Jane's story. Before her unexpected layoff, she had a clear vision for her career. She recognized her worth and had mapped out her career trajectory.

Post-layoff, however, urgency replaced clarity.

With financial obligations piling up, Jane encountered a role that, while not ticking all her boxes, matched her skill set. This presented a critical juncture: Should Jane prioritize immediate stability, or could she strategize to cater to both her immediate needs and long-term ambitions?

Jane's Dual-Pronged Approach: Immediate Action & Parallel Planning

  1. Immediate Action - Jane's decision to accept the role didn't translate to compromising on her worth. During salary negotiations, when the firm held its ground on the compensation, Jane steered the conversation towards professional development opportunities. This wasn't an impulse decision. Jane recognized the long-term value of skill enhancement and knew it could significantly augment her market worth down the line.

  2. Parallel Plan - Despite her new role, Jane's career aspirations stayed ever present in her mind. She strategically positioned her current job as a growth catalyst—a foundation upon which she would build her dream role. She was on the look-out for her next career jump while using the current job to learn, upskill, and secure mentorship.

Dive into Jane's Strategy

  • Networking: Jane recognized that professional growth isn't just about individual skills. It's also about making the right connections. She consistently networked within and outside the organization, ensuring her professional visibility remained high.

  • Continued Learning: Beyond formal training, Jane dedicated time for self-paced courses, keeping herself updated with industry trends.

  • Mentorship: Jane sought mentorship within the organization. These mentors provided deep guidance, helping her navigate challenges and ensuring she remained on track for her long-term goals.

Salary Increase after Losing a JOb - Be Persistent

Jane's commitment was relentless. Each milestone, big or small, underwent scrutiny. Was it aligning with her larger career vision? The fruits of her labor soon manifested. Not only was she in a favorable position to renegotiate her package at the job she was at, but she also landed interviews with leading firms, eventually receiving two promising job offers. Now she had the power of choice!

Salary Increase After losing job - How to Recover

Layoffs, while challenging, aren't the end of one's professional story. They can be a brief pause, offering time re-strategize, and rebound stronger. Financial stability can be secured by short term means. Even a less-than-perfect job can be a launchpad, propelling one towards their next career peak.

Remember, as you navigate the complexities of the job market post-layoff, always prioritize your overarching career goals. If an opportunity resonates with your professional ethos, embrace it wholeheartedly. If it's a mere pitstop, maximize its potential. Seek every growth opportunity, continually hone your skills, and stay opportunistic about your next role.

In conclusion, salary increase after losing your job is absolutely possible. First things first, get your LinkedIn profile optimized and ready to market you! Here is a checklist - It's FREE!

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