Is High Salary Expectation A Reason For Unemployment?
Updated : May 25th, 2016
We’ve come across many stories of people who once earned six-figure salaries but were then abruptly laid off. Such people often find it difficult to get another job with matching salary. Because of this, some of them opt to make themselves more marketable and pursue higher studies. The end result is that they add student loans to the burden of unemployment and may still fail to find a job that matches their salary expectations.
This brings us to the question. In today’s times where the economy is a little unstable, is it sensible to expect a salary that you once earned, especially after a break in your career?
Why Can’t Unemployed People Get An Offer With A Salary That Matches Their Previous Pay?
The reason for this, according to many staffing firms, is this – companies prefer to hire people who never got laid off in the first place. Such people come across as survivors and top contenders during interviews. For companies, it is difficult to make out which laid off employees are good enough. Hence, when they have an opening, if the decision comes down to choosing between a candidate who is currently employed vs. someone who was laid off, the employed candidate is given the job.
Also, if for some reason the candidate who faced a layoff is picked, they would be offered a salary that is lesser than what would be offered to a candidate with a job.
This may sound unfair to many but that is the harsh reality.
What Can Unemployed People Do To Get Better Offers?
Increasing your value and skill set is a very effective way. It can also make you look like someone who is not one to waste time. During the period in which you are unemployed, you could attend short term courses to enhance your skill set or add new skills. Going to college may seem like a bright idea but if you take student loans, it could put you in a financial crisis later.
Alternately, you can think about starting something of your own. The Internet is an open marketplace and starting something of your own is not as difficult as it was ten years ago. Small scale business owners are often credited for being the backbone of the economy and you may, in fact, be able to provide employment to a handful of people!
Above all, don’t be dejected. Stay positive, it goes a long way. Job hunting may seem tiring but keep at it constantly. Expand your social circle, interact with the right people and maybe even talk to people in the know about how to increase your market value.
How To Get By Financially?
This is the saddest consequence of being unemployed. Money will be short. Thankfully, the State and Federal Govt. jointly runs several social welfare programs for the unemployed. Applying for Unemployment Insurance or the Dole is a wise move. They are small payments designed to cover your basic necessities. It is any day a better option that having no income.
We recommend that you make use of our eligibility calculator and our benefit amount estimator to get a rough idea of whether you will qualify for UI and what amount you may receive. UI payments are given out weekly and will cease to come in the moment you stop filing for them.
In case, you apply and the State tells you that you do not qualify, you make be able to appeal the State’s decision to reject your claims. Come what may, do not think this is the end. This is a rough patch and this too shall pass.
You could also accept a lower paying job because as hurtful as it seems to your pride, it comes with the following benefits –
- Health insurance. Something you just cannot ignore.
- Steady income. However small, will help you immensely.
- Better chance at a job. As discussed in the previous paragraph, being employed improves your chances of being hired at another job.
Applying For Jobs
As soon as you are laid off, you should begin your job hunt. As it is also one of the eligibility criteria for UI, you may want to keep a record of which jobs and positions you apply to each week. You may want to widen your search and include jobs that are not focused on your skills alone.
Sign up with job search websites and update your resume to suit the needs of the job you are applying too. Use social media effectively to market yourself and remember, direct contact often helps secure a job at a much faster pace.
Never Hesitate To Reach Out To Us
Facing unemployment is harsh indeed which is why you will need all the support you can get. We strongly urge you to connect with folks on the same boat through our discussion forum on Unemployment topics where you will be free to ask any question related to job hunting and UI.