There's no doom and gloom in the fashion and retail job marketplace regarding the economy and jobs. Quite the contrary, in fact. A new study shows that fashion and retail professionals are upbeat on the job market and their ability to increase their income in the coming year.
And they plan on taking advantage of it. A career move in the next year is in the cards for 68 percent of the fashion and retail professionals surveyed by talent recruiter 24 Seven in collaboration with the American Apparel and Footwear Association. Almost half of them are already looking for a new job.
They also expect those jobs will come with higher paychecks. More than 60 percent of survey respondents said they believe their salary will increase in the coming year and 43 percent expect their bonuses will rise in 2011.
The data supports their expectations. Base salaries for respondents who moved into a new job within the last year are up almost 20 percent. For those who have stayed put in their current jobs between one and five years, compensation has risen 9 percent.
The top three reasons for considering a job change were higher base salary, better growth potential and improved quality of life, the respondents said. But, the leading factor that can positively impact job satisfaction is work-life balance . Beyond medical insurance, nontraditional benefits such as more flexible work schedules and telecommuting options are highly valued by respondents.
Among the job categories in greatest demand in the sector are apparel design; social media-related positions such as strategist, campaign manager and blogger; and luxury brand management and sales. The amount of available visual merchandising and graphic design jobs are also expected to increase.
"The fashion and retail job marketplace is experiencing a period of transformation driven by renewed optimism and the retail industry's need to reinvigorate brands," said Celeste Gudas, president and founder of 24 Seven. "The recession has re-shaped job expectations, and we're now seeing star talent on all levels leaving to create their own opportunities, redefine their career paths and increase their on-the-job satisfaction level. Companies need to become more attuned to the desires of employees in order to attract and retain talent and remain competitive in this post-recession environment."
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