Compliance is a Booming Career
Despite recessionary winds, compliance jobs continue to be abundant.
A survey by Barker Gilmore found that the average total compensation for compliance officers is running about $320,000 these days, up 8% from last year’s figures. The 8% increase represents several forms of compensation, including base salaries, bonuses, and long-term incentives like stock options, so this isn’t a full-cash review. But nevertheless, the news is good!
Compliance jobs are relatively recession-proof, as regulators don’t stop prosecuting companies or making new laws because of the economic cycle. It’s a tight job market for skilled compliance officers, so if you want to leave your current role, you probably can. But should you?
Change isn’t always good
The New York Times recently ran an article titled, “You Quit Your Job, but You’re Still Miserable. Now What?” In it, career coach J.T. O’Donnell said, “I see a lot of people that have reached a point where they are in pain and feel they just need to get out. But that winds up being out of the frying pan and into the fire.”
No one wants to leave one miserable job only to find themselves in another, but it happens. According to a survey conducted by Muse, nearly three-quarters of workers who quit to take on a new job said they felt surprised or regretful, and nearly half of those workers wanted their old job back.
When to jump ship
Tracy Brower is a sociologist who studies work/life fulfillment. Her advice? “If you’re running away, it’s harder to find satisfaction in whatever is next. We’ve seen this ‘grass is greener’ effect where there are so many jobs available that everything seems like an opportunity, so people just choose something new, rather than deeply reflecting on what is important to them.”
To help you decide, New York-based recruiter Laura Mazzulla recommends writing down:
➡️ The attributes of your favorite boss
➡️ What you feel is missing in your career
➡️ When you are most engaged at work
➡️ What kind of company environment makes you the happiest.
Then compare your answers with the company you’d be going to and the qualities of your new potential boss. If they’re a match, that should inform your decision.
Of course, running away from your current job is important if you’re in a toxic environment. But if you’re not in a toxic place and you’ve got a job offer, be sure you’re running toward the new opportunity. Ask yourself important questions such as, am I going to learn new skills? Is the job in an industry I’m excited about? Is this a promotion? Does the company offer opportunities for further progression?
If you can answer “yes” to these questions, then it’s probably worth jumping ship. If your answers are no, it may be better to stay put. The grass isn’t always greener on the other side. Many times, it’s important to remember that the grass is still green where you are now.
