How To Do Job Market Analysis

Spending a bit of time researching and understanding the job market in your professional field or geographic location will help you be more effective in your job search. Knowing the Financial Analyst Job Description is key to deciding when and where to best focus your efforts on getting the first job or transitioning to a different workplace.

Job market information is available at libraries, in career magazines, or in newspapers. The Internet offers a wide variety of search options ranging from the Job Description, pay scale, geographic location, professional associations, or agency standards.

In order to analyze the job market of your choice you can begin by asking yourself a few simple questions.

How much competition exists in the market?

The more competition the more dynamic, professional, and interesting your resume should be. A good first interview will be critical as there will likely be numerous candidates interviewed so it is important to make the best possible impression. A marketplace with less competition may be more beneficial to first-time employees that may not have an extensive resume.

Are employers looking for more than just the required skills?

A bit of research on who has been hired in the workplace will help you answer this question. If the advertisement or posting calls for bachelor’s level training but everyone on staff has a master you can be assured the agency or organization is looking for more than just the requirements on the posting. Also, be aware that there are skills that may not be mentioned in the posting that might give you an edge in the market. If, for example, you spoke another language that was used in the area it may be an additional asset when seeking employment in that location. Make sure to include it in your resume.

What is the current employment trend in the area?

Is the geographical area in a depression or an economic upswing? Are businesses moving into or out of the area or field? Are there lots of layoffs or downsizing? Most of this information can be found either on the Internet or in local papers. The local employment center can be a valuable source of this type of Market Research Analyst Salary.

Does the market favor employers or job seekers?

This question will help you analyze your ability to negotiate with employers and your ability to apply for jobs that may be outside your traditional job qualifications. When the market favors job seekers employers are more willing to provide work for first-time employees or employees that have not had experience in a particular field. This is a good time to try new careers and to move jobs.

In a market that favors employers, there is less chance of changing jobs and any moves should be planned in advance to avoid any unwanted unemployment. When you feel confident that you can answer these questions you will be able to determine the condition of the job market. If it is a favorable market for the employee it will be easier to obtain a job and to be able to negotiate with your employer the conditions of your employment.

A market analysis that indicates a strong employer bias will work best for experienced individuals with credentials that exceed the minimum requirements of the employers. Understanding the job market analysis will help you decide where you will have the best results in seeking employment. Focussing your time and effort on markets that are positive towards the employee will provide the best outcomes.