Long reads

Job switchers are earning a lot more money

Kirstie McDermott

Kirstie McDermott

Senior Content Editor, Amply

You might love your job, but does it love you back? One of the hardest things to reconcile about a role you’ve been in for a while is trying to have your value recognised in terms of getting a salary increment.

Plenty of people need pay rises right now. In the UK, incomes are failing to keep up with the cost of living as inflation rises. Currently at 9.4%, it is far outstripping the benefit gained from the traditional 2% or 3% cost of living raise some companies offer their staff. Effectively, many people have far less to spend in 2022 as energy, petrol, and grocery prices skyrocket.

In the U.S., the outlook is broadly similar with the inflation rate at 9.1%, a figure not seen since 1981. One solution for those in knowledge industries (such as fintech where skills are in high demand) is to go where pastures are greener both in monetary and skills terms.

Job seekers market

The Office for National Statistics (ONS) reports that from March to May 2022, the number of job vacancies rose to a new high at 1.3 million. As employers struggle to fill roles, we are in a job seekers market, which is good news for anyone looking to make a move.

Plenty of people are mobile in the labour market right now. In the UK, around 3.2% of those in employment moved from one job to another in the first quarter of 2022. It’s the highest job-to-job moving rate recorded in this time period, and almost a full percentage point up from the year earlier.

Across the pond, the outlook is similar. Approximately four million people switched jobs on average each month from January to March 2022 in the U.S. according to figures from the Pew Research Center.

From April 2021 to March 2022, 60% of those who switched jobs increased their earnings compared to the same month the previous year, and half of those workers experienced a real increase of 9.7% or more over their pay a year earlier. Meanwhile, those who stayed in their jobs actually experienced a loss of earnings of 1.7%. In the UK, professional services company PwC gave 20,000 of its staff a 9% pay rise to help them offset the rising cost of living.

The answer seems to be simple: switch jobs. Anyone who has tried to negotiate with their employer for more money and failed knows that there is far more power in being the person the company is pursuing. If you’ve decided to bite the bullet and find a new, higher-paying opportunity, then we have three Fintech roles worth a look below. As always, there are plenty more to check out on the Job Board.

Salesforce Developer, PayPal

As a Salesforce Developer, you will be required to design, develop and provide ongoing support to the Salesforce CRM and sales technology portfolio of PayPal’s business. You’ll be a hands-on worker and have proven experience in developing and enhancing Salesforce and sales technology in a global environment. You will also work to understand other business processes internally and how the company leverages the sales technology platform to address business needs. Over five years of experience working as a Salesforce Developer is required and you will be a Salesforce Certified Developer; Advanced Developer preferred. Experience with AppExchange and other tools like Apttus, Quip, LeanData, Outreach, DocuSign and Gainsight, is desirable. Apply now.

Senior Product Manager - Engage, TransferGo

Fintech start-up TransferGo is seeking a Senior Acquisition Product Manager reporting to the VP of Product Management. Working within an independent squad resourced with an engineering team and a product designer, you will be driving non-paid customer acquisition channels where customers join TransferGo as a result of receiving money or getting a referral from a friend, and creating a wide range of experiments to test the sensitivity of different viral loops. You’ll need strong product management experience building digital products at scale, with a track record of end-to-end product delivery in an agile environment and your recent roles should provide strong evidence of customer centricity. Apply now.

Android Developer, SaltPay

SaltPay creates affordable, fast, and secure payments and software solutions to help small and medium-sized businesses manage and grow their operations better. As an Android Developer, you will be integrated into a POS (point-of-sale) Team of mobile and web applications, helping merchants around the world manage their sales, inventories, employees, and customers. You’ll be eager to learn and improve every day by taking ownership of your role and responsibilities. You should have a strategic and analytical mindset with experience as a Software Engineer, at least three years of experience with Android (Kotlin), and good knowledge of RxJava, Coroutines, Realm, MVVM, and Jetpack. Apply now.

Want to see more? See who’s hiring on the Finextra Job Board, set up alerts and bookmark the link for regular check-ins.

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