Should You Stay or Go? Career Moves in a Slower Job Market
During the Great Resignation, switching jobs almost always meant a big pay bump and a better title. That era is over. As CNBC reported in Life after 'great resignation': Incentives dim for workers to change jobs, the external incentives that drove workers to hop from role to role are leveling off. That does not mean your career has to stall. It just means you need a more deliberate strategy, one that starts with an honest look at your current situation before you start sending out resumes.
Decide: stay and grow, or test the market
A slower external market does not mean career stagnation. In fact, your best move might be to expand your scope right where you already have trust and institutional knowledge. Start by auditing your current team's roadmap. Look for unsolved problems that align with senior roles. If your team is struggling with client onboarding churn, proposing a streamlined workflow gives you immediate leadership leverage.
But staying only works if your company is healthy. If compensation freezes or reorganizations stall your trajectory, exploring outside opportunities remains the right move. Gauge company financial health. Check external market demand by testing the waters selectively. Instead of mass applying, pick three target companies where your specific background solves an active pain point.
How to negotiate a promotion where you already work
When external options are tighter, your best return on investment is often negotiating a promotion or title change internally. Managers respond to evidence of impact, not personal cost-of-living increases. Document completed outcomes weekly: every project launched, dollar saved, or process improved.
Then schedule a dedicated growth review. Do not spring compensation discussions during quick tactical meetings. Ask for dedicated time to align on expectations for the next level. Use specific framing. Instead of saying, "I feel I deserve a raise after two years here," say: "Over the past two quarters, I took ownership of our vendor migration, which cut annual software expenses by renegotiating core contracts. Given that expanded scope, I would like to map out what is needed to move into the Senior Operations Manager title this cycle."
Run a smart, targeted external search
If you decide to look externally, know that when companies hire more cautiously, general resumes get discarded quickly. Every application must show a direct match to the employer's immediate priorities. Align your resume to the exact role. Maintain targeted visibility: keep your public profile sharp, ensuring your headline and About section highlight your core specialty rather than generic job responsibilities.
In a tighter market, bad career moves carry higher risk. Interview your potential employer. In your interviews, ask: "What resources and budget are already committed to this project for the upcoming fiscal year?" This protects you from accepting roles tied to unfunded or vulnerable initiatives.
Keep your resume and public profile updated even if you plan to stay in your current role. Opportunity often arrives without warning, and the best time to prepare is before you need it.