A hot market presents great opportunities to advance your skills and career. It can provide opportunity to accomplish career moves that might otherwise be more challenging during a down market. We don’t know how long these hot market conditions will continue; the only thing we know for sure is that at some point there will be a downturn. Now is the time to position yourself!
Here are a few things which you might consider:
- Join an industry leader: This may be the opportunity to get your foot in the door with that sector-leading company that will add real resume panache and provide greater opportunity for advancement
- Change industries: It can be difficult to break into new industries in slower economic times. This could be your opportunity to break out of financial services into technology – or vice versa.
- Seek a Promotion: It is important to remember that promotions are earned, not gifted. That said, a hot market softens the path to upward mobility as leadership roles are vacated. Remember, it is always advised, and easier, to try to move up in one’s own organization, than seeking a promotion while moving to a new company.
- Improve lifestyle: This could be the opportunity to shorten that commute, lessen the travel burden, or to seek a culture providing more favorable work/life balance.
- Gain coveted Big 4 or Public Accounting experience: It is not a secret that during hot markets, Big 4 and Public Accounting firms loosen their otherwise tight hiring standards. This could be the opportunity for experienced professionals that demonstrate an ability to adjust to the fast-paced culture to be able to pick up that coveted Big 4 or Public Accounting experience. Two to three years in Public Accounting can be a real career enhancer.
- Expand into a new area or role: this could be access to new technologies; changing your focus or expanding into new areas. This could also entail making the move out of Audit into the business, as the increased mobility of non-Audit and GRC professionals has created greater potential and opportunity for Auditors to move out into the Business or IT.