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The wave of recent layoffs, particularly in tech, has stoked fears of a possible recession in 2023. A new Payscale report identified 20 jobs that appear well-positioned to weather a potential downturn, based on wage growth. The list includes a mix of blue- and white-collar jobs, including some employees reporting pay up 30% from last year. However, some jobs look better-positioned to make it through a possible downtown, and a new report from Payscale reveals just which ones. The salary comparison site identified the top 20 recession-proof jobs based on wage growth in 2022 compared to previous years.
Salary-transparency laws are increasingly common, but finding out what a job really pays is hard. New York, Nevada, Colorado, and Connecticut already have laws that require organizations to advertise a pay range for open positions up-front. So, how can jobseekers uncover what organizations pay? Could you please share the salary range offered for this position?" Academy of ManagementResearch shows that hiring managers are less likely to hire candidates who ask about salary and perks during job interviews.
Research has found managers are less likely to hire people who ask about pay in job interviews. Asking about pay can make managers think you care more about the rewards than the actual job. The upshot for job seekers: Be patient. But research suggests that that's exactly how hiring managers will perceive you if you ask about pay and perks. The upshot for job seekers is that patience and restraint are key.
Lawrence, the former head money coach at investment startup Ellevest, shared her negotiation tips. That translates to 11 fewer years of compensation growth and wealth building, despite women having longer life expectancies on average. Research the company you're applying toA preliminary step in any negotiation is arming yourself with information, Lawrence said. Job candidates should use websites like LinkedIn and Glassdoor get a sense of the base salary for the job they're applying to. For people in the startup world or at a company that is publicly traded, equity compensation is more common.
I should know: I'm a Black woman in HR, and at the age of 31, I'm working at my fifth employer, and I earn about $212,000 a year. I got into HR almost by accident, but it's a field I'm passionate about, and I'm good at my job. Entry-level HR manager, $52,000After I graduated from college, I entered an executive training program at a major retailer outside of Washington, DC. HR manager, $56,000My next job, also at a retailer, was strictly HR. When it's time to leave this company, I'm betting I'll do just that.
With soaring inflation, a floundering stock market and layoffs hitting several industries, the future of the job market is uncertain at best. "The worst is yet to come," the International Monetary Fund warned in its latest report, adding that for many people, 2023 "will feel like a recession." Still, there are reasons to be cautiously optimistic about the job market heading into 2023. While no job is completely immune to economic headwinds, certain roles are posed to fare better than others during a potential economic downturn in 2023, according to a new report from Payscale. Here are 10 of the most "recession-proof" occupations that offer strong job security during economic downturns, per Payscale's research:
Entrepreneurs Steph Gordon and Den Mathu have managed to increase their income consistently. Start by with your current job: Can you negotiate a raise or land a higher salary with a different company? He and Gordon started their joint side hustle, which has evolved into a full-time business, in 2019. Mathu was working as a consultant at Deloitte, while Gordon was working in HR at PricewaterhouseCoopers. That way, they'll have more time and energy to spend on growing their company and revenue streams even more.
"I respect companies protecting their resources, but how they treat impacted employees is very telling to employees that are still working there," he said. "I respect companies protecting their resources but how they treat impacted employees is very telling to employees that are still working there." Be mindful of remaining workers' concernsCompanies should "recognize this is a very difficult time for people who remain with the organization" as well, Benz said. "Make sure managers and leaders are available for remaining employees and can be clear about the future without overpromising. Inform remaining workers about the changes that may need to be made in light of job cuts.
However, the majority of states still haven't risen to the occasion, and as the call for pay transparency continues, job seekers have started taking matters into their own hands by rejecting offers. Furthermore, Adzuna found that job seekers wasted ample time applying for roles that ended up not meeting their salary goals. "Our survey showed that over the last five years alone, U.S. workers have wasted over 480 million hours applying for jobs with the wrong salary," says Paul Lewis, chief marketing officer at Adzuna. "Learn about the role first so you've got a good understanding of what should be on the table before stepping into that conversation about pay," Lewis explains. And that shouldn't be a difficult conversation," Lewis says.
More Americans are turning to side hustles to boost their savings and financial security in the face of a looming recession. The rise of remote work over the past two-plus years has also created more opportunities for people to find flexible, high-paying side hustles they can do from home. To help people interested in pursuing a side hustle find the best remote opportunities, FlexJobs has identified 25 in-demand side hustles that can be done from home, based on thousands of listings in their database. These jobs have dozens of active listings and offer remote, part-time opportunities. Here are nine of the highest-paid, most in-demand side hustles that can be done from home, according to FlexJobs and salary data from Payscale:
According to the Graduate Management Admissions Council (GMAC), many MBA graduates land starting base salaries nearly triple that of those who only have a bachelor's degree. The average salary for the class of 2021 bachelor's degree graduates was $55,911, according to the National Association of Colleges and Employers. On the other hand, Payscale data shows that for MBA graduates in the U.S., the average base salary is $92,000. Fortune ranked the top five full-time, in-person MBA programs in the U.S. out of the 69 programs that participated in their survey. California's Stanford Graduate School of Business landed the top spot on the list.
More workers have gone on strike in the first half of 2022 than in all of 2021. In short, more workers have gone on strike in 2022 than in 2021 — and that's still with six months of data left to track. Post-vaccine 2021 into 2022 has marked an uptick in organizing and increasing pushback from workers on the previous status quo. They reached an agreement with railroad companies, avoiding the immediate possibility of strikes that could have crippled the US economy. Workers at companies like Starbucks, Trader Joe's, and Amazon are seeing historic union wins.
Imagining possibilities is a big part of planning; I want LGBTQ women to be able to imagine success. LGBTQ women rarely see themselves reflected in the wealthiest groupsData on both LGBTQ people and women of all orientations evidences economic precarity for many people within these lived experiences. Transgender women have an even higher likelihood of experiencing life on a low income. McKinsey reported last year that cisgender people took home 32% higher wages for the same work transgender people did. LGBTQ women and others tend to resource stability and community outside social norms.
More US states, including New York and California, are requiring employers to post salary ranges on job listings. If you're starting to suspect you're underpaid, do your researchDoing some digging (on your personal computer, not at work) is your first stop. It's the more realistic number you're hoping to meet or exceed. Lennox said you'll typically want to start discussing professional development with your boss months before you actually ask for a raise. "All the hard work of researching what the range is for your next job is already done," Dickinson said.
But there are certain ages in life when you're most likely to reach a peak related to spending, saving, and earning money. But for the average American 20-something, the propensity to do so is often the greatest. PayScale found that the most common jobs held by American women were registered nurse, elementary school teacher, and human-resources administrator. Ages 65-70: Your net worth is the highest it's ever beenYour net worth tends to peak around your mid-to-late 60s — or typical retirement age. Even with the average monthly Social Security benefit, the median American is living on $2,000 a month in retirement income.
Persons: we've, Samantha Lee, Dad —, aren't, millennials, Zillow, PayScale Organizations: Bureau of Labor Statistics, CNBC, College, Fidelity Investments, The New York Times, Fidelity, Social Security Locations: American
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