bpi group executive employment trends q2 2015

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Executive Employment Trends Q2 2015

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Page 1: BPI group Executive Employment Trends Q2 2015

Executive Employment Trends

Q2 2015

Page 2: BPI group Executive Employment Trends Q2 2015

2 © BPI group

BPI group has established this Executive Employment Trends Report to offer visibility into the current

executive job market. We are committed to quality and results in our outplacement programs, and believe that

keeping a careful eye on trends in the market is an important way to ensure that we are meeting the needs of

our career transition clients. The findings of this report are based on a survey of our executive clients who

began their job search from Q1 2014 through Q2 2015.

The Executive Employment Trends Report includes analysis of the following executive employment trends:

– Average length of the executive job search

– How the length of the job search is impacted by various factors, including:

• Base Salary Level

• Education Level

• Age

We look forward to continuing to share the latest trends in executive employment. If you would like to learn

more about our approach to executive outplacement services, please call +1.800.323.0206 or connect with

your local BPI group office.

EXECUTIVE EMPLOYMENT TRENDS REPORT

Page 3: BPI group Executive Employment Trends Q2 2015

3 © BPI group

REFLECTIONS ON EXECUTIVE EMPLOYMENT TRENDS IN Q2 2015

Patricia Siderius

Managing Director, Executive Outplacement Services

[email protected], +1.630.613-6373

Executives in Q2 2015 landed a new job in an average of 4.5 months, a slight increase from Q1’s average of

4.3 months. As we saw last quarter, this slight increase in job search length corresponded with an increase in

average compensation for the new position: 64% of executives reported higher salaries in their new jobs,

beating last quarter’s record high of 60%.

In Q2, only 9% of executives chose to start their own business – about half the rate of Q1. Moreover, none of

our executive clients chose to retire this quarter. Based on the experiences of our clients, we have observed

that as the job market has improved, our executives can afford to be more particular in their job search.

While they may take a bit longer to consider their options, they are landing better and higher paying

positions.

This observation is supported by the broader market trends noted

by the U.S. Labor Department, who reported that 223,000 jobs

were added in June. While lower-wage jobs were most in demand

in the earlier period of the economic recovery, we are now seeing a

larger concentration of new white-collar jobs in industries like

marketing, insurance, and software – a marked increase in

opportunities for our executive clients.1

1

Schwartz, Nelson D. “U.S. Economy Adds 223,000 Jobs; Unemployment at 5.3%” The New York

Times. 2 July 2015: B1. http://www.nytimes.com/2015/07/03/business/economy/jobs-report-hiring-

unemployment-june.html?_r=1. Web. 30 July 2015.

Page 4: BPI group Executive Employment Trends Q2 2015

4 © BPI group

About the executives:

This report is based on survey responses

from a sample of BPI group’s executive

outplacement clients, representing:

– 45 executives, comprising 32 men and

13 women

– 14 states

– 28 companies

All executives surveyed began and

completed their career transition with BPI

group between Q1 2014 and Q2 2015.

ABOUT OUR EXECUTIVE OUTPLACEMENT CLIENTS

Accounting/Finance/Insurance 11%

Banking/Real Estate/Mortgage 5%

Business/Strategic Management 7%

Food Services/Hospitality 9%

Human Resources 7%

IT/Software Development 17%

Legal 4%

Manufacturing/Production/Operations 20%

Marketing/Product 9%

Medical/Health 2%

Quality Assurance/Safety 2%

Sales/Retail/Business Development 5%

Other 2%

Executive respondents represent a

diverse array of occupations:

Page 5: BPI group Executive Employment Trends Q2 2015

5 © BPI group

EXECUTIVE OUTPLACEMENT PROGRAM OUTCOME

91% of our executive clients

chose to seek a new job within

an organization, whereas 9%

decided to start their own

business. In Q1 2015, almost

twice this number, 17% of the

cohort, decided to start their own

business.

91%

9%

Executive Outplacement Program Outcome

Landed NewEmployment

Started OwnBusiness

Page 6: BPI group Executive Employment Trends Q2 2015

6 © BPI group

Executives spent an average of 4.5 months in the job search – slightly more time than

the Q1 2015 average of 4.3 months. This was significantly less time than the national

average of 6.4 months in Q2 2015, as reported by the Bureau of Labor Statistics. To

compare, the average job search length in Q1 2015 was 7 months, seasonally adjusted.

EXECUTIVE EMPLOYMENT TREND: LENGTH OF JOB SEARCH

Salary at the new job:

• 64% rated the compensation

at their new job as Better

than that of their previous job

• 24% rated the compensation

at their new job as the Same

as that of their previous job

• 12% rated the compensation

at their new job as Less than

that of their previous job

67%

27%

3% 3%

How Executives Found their New Job

Networking

Search Firm

Other

Internet

Page 7: BPI group Executive Employment Trends Q2 2015

7 © BPI group

EXECUTIVE EMPLOYMENT TREND: BASE SALARY

14%

70%

16%

Survey Sample: Base Salary Range

$75,000 -$150,000

$150,000 -$250,000

$250,000+

0

1

2

3

4

5

6

$75,000 - $150,000 $150,000 - $250,000 $250,000+

Mo

nth

s

Average Time to New Job by Base Salary Range

Key Takeaway: Executives in the $150,000-$250,000 base salary range, comprising the majority of

the survey sample, took the longest to land a new job: an average of 4.9 months. Those surveyed in

the $75,000-$150,000 salary range, representing 14% of the sample, landed at nearly the same rate,

an average of 4.8 months, while the 16% representing executives making over $250,000 secured a

new position in an average of 3 months. This is a change from previous quarters, in which those in the

highest income bracket have experienced the longest average job search length.

Page 8: BPI group Executive Employment Trends Q2 2015

8 © BPI group

EXECUTIVE EMPLOYMENT TREND: EDUCATION LEVEL

Key Takeaway: Executives with a Master’s degree, comprising the majority of those surveyed, landed

in an average of 4.3 months. Those with only a Bachelor’s took slightly longer, averaging 4.9 months.

5%

42%

51%

2%

Survey Sample: Education Level

SomeCollege

Bachelor's

Master's

Ph.D

0

1

2

3

4

5

6

Some College Bachelor's Master'sM

on

ths

Average Time to New Job by Education Level

Page 9: BPI group Executive Employment Trends Q2 2015

9 © BPI group

EXECUTIVE EMPLOYMENT TREND: AGE GROUP

Key Takeaway: Executives in the 51-60 age range – the largest proportion of our sample - landed a

new position in an average of 4.6 months, down from an average of 4.8 months in Q1 2015.

17%

33%

45%

5%

Survey Sample: Age Range

31-40

41-50

51-60

61+

1

1.5

2

2.5

3

3.5

4

4.5

5

5.5

31-40 41-50 51-60 61+M

on

ths

Average Time to New Job by Age Range

Page 10: BPI group Executive Employment Trends Q2 2015

10 © BPI group

BPI group offers a local boutique touch with a global network of

resources to ensure long-term career success for our executive

outplacement clients. In addition to job search coaching, clients

may also choose to focus on entrepreneurial ventures, preparing for

retirement, or other work alternatives.

Each client works with a personal career coach to develop a

customized, winning services plan, helping them to:

• Focus on developing the next step in their career, leveraging

assessment tools and professional consulting to establish short

and long-term career direction.

• Learn how to effectively job search and thrive in the new world

of work.

• Search for the next opportunity, be it a new job, a business

acquisition or start-up, or a part-time career.

• Connect to high-quality job opportunities, through technology, a

team of job developers, social networks, in-person networking

events, personal introductions, and direct placement activities.

• Succeed in their new role, by developing a 90-day onboarding

plan.

Interested in learning more?

Call +1.800.323.0206 or connect with your local BPI group office.

ABOUT EXECUTIVE OUTPLACEMENT SERVICES

… I am excited and eternally grateful for the time you (and

everyone at BPI group) took to help me in my search over

the past year. I feel it was a critical piece in my getting this

job and I cannot thank you enough.

- Tim, landed as Chief Advisor to the Board of Trustees

at a major education institution

Losing my job after 12 years with a company was a

confidence shattering experience. Patricia and her team

worked with me to build back my confidence and to help

me understand what I truly want at the next step in my

career. Job searching in today's market is extremely

different than 10 years ago and BPI gave me the

expertise to make a difference and stand out among

other candidates.

- Sandra, landed as Vice President of Operations

with a publicly traded manufacturing company

Page 11: BPI group Executive Employment Trends Q2 2015

11 © BPI group

We are global management and human resources

consultants focused on helping individuals and

organizations navigate change.

Align + Engage

We help build optimal structures and get people

engaged in their roles.

Develop

We inspire individuals and teams to achieve

maximum performance.

Transition

We help individuals and organizations make the

most of change.

Connect with us at www.bpi-group.us to

learn more.

ABOUT BPI GROUP