Highly paid tech workers and healthcare workers are expressing intentions to leave their current jobs, as per Payscale's latest data gathered from over 770,000 U.S. employees between November 2022 and October 2023. Despite substantial salaries, a significant percentage of workers in these fields plan to seek new employment.
For instance, 66% of senior product managers are looking for new job opportunities despite commanding a median annual salary of $144,000. The trend extends to various healthcare and technical positions, with factors such as a shaky economy, return-to-office mandates, high stress, and job insecurity contributing to the mass exodus.
In the tech industry, high-profile layoffs have led senior product managers to seek more job security elsewhere. In healthcare, the industry is plagued by burnout and turnover, leading workers to seek better conditions and fair pay elsewhere.
The rise of salary transparency data is empowering workers to seek better-paying jobs. While wage growth is on the rise, the uncertain economy and inflation are contributing to the pressure of managing wages, which could further drive the trend of quitting.