DARIEN, Conn., Aug. 6, 2001, (PRIMEZONE) -- (WITH PACKAGE) 6FigureJobs.com, a leading online career resource for senior executives, has released its latest wave of proprietary research on the economic perspectives, career priorities and job search strategies of today's white collar professionals. Key findings were as follows:
Executives Remain Unfazed By Economic Jitters
-- Only 29% expect a further economic slowdown or recession, while
70% expect a flat to rebounding economy in 2001
-- 60% expect their companies to keep spending steady or even
increase this year, while only 32% expect a decrease in their
corporate expenditures
-- 41% expect to personally invest more in the stock market, only
9% expect to invest less, and 54% expect to buy or renovate
homes in the coming year
-- 79% expect to fare "about the same or better" in 2001, in
regards to their own financial prospects.
-- Salary expectations have moderated somewhat, as respondents seek
an average increase of 14% in total compensation for their next
job, vs. an anticipated increase of 17% from the July 2000
Survey of the same audience.
"Dot Com Fever" in Full Remission
-- Only 25% of respondents said they were willing to move to an
Internet start-up in 2001
-- While 81% said they would accept a lower salary for options in
the July 2000 survey, only 57% say they are willing to take such
a gamble this year
-- The Top 5 companies cited as those that executives "would most
like to work for" in 2001 were:
1. GE
2. IBM
3. Microsoft
4. Cisco
5. Proctor & Gamble
Some popular dot-coms from last year's list -- Amazon, AOL and eBay -- were conspicuously absent from this year's respondent selections.
Corporate loyalty and tenure decline further
-- 64% of respondents expected to be in their next position for 5
years or less (vs. 59% in July of 2000).
-- 92% expect to switch jobs in the coming year
-- Only a small portion (7%) expected to move internally for their
next position (down from 15% in 2000)
Internet Supplementing Traditional Search Methods
-- 92% of this group intend to utilize the Internet in their next
job search, with Retained Recruiters (85%) and Personal
Contacts/Networking (83%) listed as other strongly preferred
methods
-- Only 29% expected to utilize classified advertising (down from
39% in July of 2000), underscoring the continued erosion of
"traditional" recruiting venues.
-- When asked what frustrated them most about Internet job sites,
top complaints were as follows:
-- Never hearing back from employers (71%)
-- Too many low level jobs (62%)
-- Too hard to track progress/applications (42%)
-- No good sites for my level of experience (36%)
-- When reviewing opportunities on-line, respondents identified the
following factors as most important to them in deciding which
opportunities to pursue:
-- Salary (80%)
-- Opportunity for Growth (74%)
-- Location (53%)
-- Reputation of Company (50%)
"This latest data underscores once again how integral the Internet has become for senior executives who proactively manage their own careers," said Chris Miller, President and CEO of 6FigureJobs. "And the noted changes from our 2000 survey indicate a continuation of many established trends -- namely a decline in executive tenure, more confident and empowered executive job-seekers, and increased usage of the Internet in senior level career management."
Methodology
The survey was executed on the Internet via email to more than 50,000 registered executive members of 6FigureJobs.com, using the SiteTrakker Survey technology of Follow-Up.net, a CT-based company. The 537 respondents, with an average individual income of more than $146,000, were drawn from the membership base of 6FigureJobs.com, and thus findings should be interpreted as directional in nature and may not be statistically reflective of national norms.
About 6FigureJobs.com
6FigureJobs.com was created to serve the unique needs of top-tier professionals with current salaries in excess of $100,000, setting it apart from other, more broadly-based online job sites such as Monster.com (TMPW), Hotjobs.com (HOTJ), CareerBuilder.com and Headhunter.net (HHNT). 6FigureJobs also offers the companion services of 6FigureMBA.com and 6FigureSelect, a customized research service for employers and recruiters.
Founded in 1998, 6FigureJobs.com is the country's fastest-growing online career resource for senior executives. Based in Darien, Conn., 6FigureJobs.com provides experienced professionals the opportunity to confidentially seek and be considered for some of the most prestigious jobs in the country, while providing employers and executive recruiters the opportunity to post their premium positions and source prospects from an exclusive, pre-screened pool of high-caliber candidates.
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CONTACT: 6FigureJobs.com
PR Contact:
John Paterson
(203) 656-2300