You may not realize exactly how much a successful job transition is worth to you. Most people don’t.
It’s easy to get a general idea. Let’s say you act astutely and move up from an $80,000 job to a $120,000 job at age 40. You likely have 25 more years ahead, at least. Assuming equivalent annual pay increases and promotions, the difference between the two tracks is $40,000 x 25, or $1 million. That’s how much a single, well-focused job search may change your life.
Sound unrealistic? Let’s assume a more conservative scenario for a younger person, say from $60,000 to $70,000 at age 30, and then another transition at age 40 from $70,000 to $80,000. Compare that to the person who stood still. The difference is still $600,000.
And for a senior executive moving from a $200,000 job to a $300,000 job at age 45, then the difference between the two tracks is $2 million.
And it’s just the beginning. For with higher position come greater bonuses, stock options, and retirement benefits, as well as status, impact, and contacts. The move can be worth even more.
It's amazing then, that some people pay scant attention to their resume.