TheLadders.com Survey Says: Job Opportunities Heating Up on Both Coasts
Quarterly Executive Employment Outlook Points Job Seekers East and West to Leverage Nation?s Hottest Markets
NEW YORK (October 12, 2006) - Executives are feeling the strong, persistent pull of both the East and West Coasts when searching for new senior level positions, according to the Quarterly Executive Employment Outlook survey conducted by TheLadders.com, the world's leading online service for $100,000+ jobs. Boston, New York, and Miami are hot cities for new jobs on the East Coast and San Francisco, San Diego and Seattle are the leading destinations on the West Coast.
The survey also revealed a growing trend among senior level executives to search for new employment in order to accomplish their career goals. Sixty-three percent of job seekers said they are not likely to achieve their career goals with their current employers. And 75% report that they are more likely to attain career satisfaction at a different company.
"It's clear from the survey responses and increased activity on our site that people are not just looking to find a job, but are looking for insight and guidance in managing a career," said Marc Cenedella, president and CEO of TheLadders.com. "Job seekers are using our site to find high level positions that are not only the right fit, but offer them unique opportunities to advance both their personal and professional career goals."
Survey Results:
TheLadders.com surveyed a total of 1,126 executives in the third quarter of 2006. The majority of job seekers (58%) think that now is a better time to be looking for a job versus this time last year. The majority of job seekers (64%) expect to apply to less than 50 job listings before receiving an offer (31% say between 20-50% job listings; 31% say less than 20). However, 36% of those surveyed expect to apply to at least 50-100 or more jobs before getting an offer.
Thirty-five percent of executive job seekers believe their search will take less than 3 months. Another 30% predict a 3-6 month timeframe for their job search, while 24% expect a search between 6-12 months. Only 11% expect a job search to take longer than 12 months.
Regional Job Market Data:
The third quarter sector-specific hiring trends uncovered by the survey shows a slight increase in openings in the media and advertising, industrial, and technology industries, in contrast to fewer jobs in the services, healthcare, and consumer sectors. Survey respondents remain positive about the upcoming quarter, with 30% of job seekers reporting that the year-end budgeting being done by employers will be a driving force for new opportunities.
According to the results of its latest Boom Report, Boston remains highest on TheLadders.com's "Talent Magnet Index." Job seekers have indicated that Boston, is the most desirable city in which to work, followed by New York, San Francisco, Seattle, San Diego and Washington D,C. Detroit fared the worst on the list of 20 cities. The "Talent Magnet Index" identifies the number of active job seekers per job opening and reflects the number of job seekers who are not only looking within their own market, but outside their market, taking into account executive job seekers searching for positions outside of their current geography. Specific details of these findings can be found at TheLadders.com: http://cdn.theladders.net/static/boom.
The Quarterly Executive Employment Outlook is based on analysis of recruiting activity on TheLadders.com and an independent survey of registered $100k+ executives via the company's Web site during the third quarter of 2006. The number of executives that responded to the survey was 1,126. The margin of error for the survey is +/- 2.02 percentage points.