How the 80/20 rule can help you land a promotion and bag an £8,000 pay rise

IF you’re back at work after summer feeling sorry for yourself and your bank balance, September is the perfect time to start looking for a new role, perhaps even a pay rise. When it comes to finding the perfect next job, recruitment experts say the 80/20 rule is key to bagging your next role, but will it do the trick? Sun Money takes a look… What is the 80/20 Rule? You don’t have to tick every box in order to apply for a role Credit: Getty The 80/20 Rule sees job hunters send out 80% of their job applications to roles that are at the same level as their current role and 20% to vacancies that are a step up. Sign up for the Money newsletter Thank you! “[It’s] a useful way to think about your job search, because if you only apply for roles you already know you can do, you’re limiting your own potential,” says James Reed, chairman and CEO of Britain’s biggest recruitment brand, Reed. “I’d always advise people to be ambitious and put some applications in for ‘reach roles’, jobs where you don’t tick every box, but where you have the underlying skills, mindset and potential to grow into the role.” When is a role the right ‘reach role’? A reach role is one where you meet 80-90% of the core requirements Credit: Getty Sadly, if you’re a graduate, no matter how ambitious you are, applying for that CEO vacancy is unlikely to get you far. In fact, finding whether a role has the right amount of ‘reach’ is a skill in itself. If it’s not clear from the job title that the role is a level up, look at the job description and what skills they are looking for. “Reach roles aren’t positions completely outside of your wheelhouse, but you might not tick all their boxes,” says Habiba. For example, this could mean applying for a job where you meet 80-90% of the core requirements and have transferable skills that could help you quickly get up to 100% once in the role.” Most read in Money News “No one walks into a more senior role knowing everything on day one,” says James Reed. “Employers are looking for people who can learn, adapt and take responsibility, as well as people who already have the technical skills required. In fact, mindset can be more important than having every skill on paper.” If the job looks similar to what you do now but the team you’ll manage is larger, the salary higher or the company bigger, it’s likely to be a good-fit ‘reach role’ for you. What are the benefits of the 80/20 rule? Don’t limit yourself by only applying for roles on your level Credit: Getty The appeal of the 80/20 rule is that you’re focusing most of your energy on applications that closely match your experience, so not wasting time only on roles you only have an outside shot at. But, at the same time, you’re not limiting yourself. “You grow by putting yourself in situations where you have to learn, so, by all means, make most of your applications sensible matches for your experience, but keep some ambition in the mix. You might surprise yourself, and you’ll never know unless you apply,” adds James Reed. Applying for ‘reach roles’ alone might only get a few results but choosing to make 1-in-5 of your applications an ambitious one could really boost your career prospects. You may even find that once you’re in the room bosses think you’re a strong fit for the role – despite it being a step-up based on your CV. “We have a saying in recruitment that the best candidate for a role isn’t always the one who comes across best on paper,” says Habiba Khatoon, Director – Midlands, UK at Robert Walters. “During in-person interviewing stages many more qualities take precedence over initial requirements, such as personality type, communication style, ability to respond to unexpected questions, and capacity to problem solve on the spot.” Even if you aren’t quite there yet, just the process of getting yourself an interview will mean you learn what’s required to secure a more senior role in the future, plus, it’s always great to have extra interview practice. What are the disadvantages? Bear in mind that 80/20 is a starting point and you may be able to apply for more reach roles in your industry Credit: Getty The 80/20 Rule might have the expert seal of approval, but there are downsides. While the 80/20 proportions are a useful general guide, they don’t necessarily give the right split for your situation. The right mix depends on someone’s experience, industry, financial circumstances and risk appetite. For example, if you work in a highly technical industry, applying for 20% ‘reach’ roles might give you fewer opportunities than for someone in hospitality or communication industries, where ‘softer’ skills are more important. Skills, such as inspiring your team, dealing with tricky clients and getting on with colleagues, are all things likely to come across in an interview rather than on a CV. The flip side, however, is that, in certain job sectors, the 80% figure might be limiting. Spending 80% of your time and effort on jobs you already know you can do may not be the best use of your time. You could end up just fighting for the same type of position and restrict yourself from moving up and from earning more money. “Only applying for roles that perfectly match your skill set can limit your opportunities and even slow career progression,” says Habiba. There is also a timing issue with applying for roles at multiple levels. Senior roles often take longer to fill, with more hurdles for applicants to jump before a decision is made. Using the 80/20 Rule might land you in the awkward position of being approached or offered a ‘reach role’ after you’ve accepted a role at your current level. How much a ‘reach role’ could boost your pay Based on the UK’s average salary you could get a boost of £8,198 Credit: Getty If the 80/20 Rule pays off for you, it could be a big win for your paypacket. Last year when someone moved up a job level in the UK their salary increased by an average of 21%, according to data company Ravio. Based on the UK’s average salary of £39,039, this means a boost of £8,198 or a salary of £47,237. This is compared to research by LSE that found, on average, when employees simply moved sideways into a new role rather than up, their salary increased by 5.6% – a boost of just £2,186. “The upside of landing a reach role is obvious: you’re taking on more responsibility, developing faster and, in many cases, moving onto a higher salary,” says James Reed. “A sideways move can sometimes be exactly the right move if it gives you new skills or opens up a better route to progression, but if there’s a genuine opportunity to take a step up, I’d encourage people to go for it.” Tricks for bagging a job or pay rise Recruiters love applicants who can learn new skills so take a course that you can add to your CV Credit: Getty Use your network to find out about jobs that might not be on your radar initially. Your contacts might even be able to refer you to an employer, adding weight to your application. Recruiters love applicants who can learn new skills so take a course that you can add to your CV – it shows you are ambitious and also gives you something to talk about in interviews. The Open University and LinkedIn both offer free courses on developing leadership skills in the digital world, as well as management and communication. Alternatively, if it’s a promotion you are after, build a ‘brag folder’ and include emails of praise from clients and colleagues and examples of where you have improved efficiency, reduced costs or landed a lucrative contract. The more specific you can be, and the more figures you give, the better. On a day-to-day level, put yourself forward for opportunities that will raise your profile within the company. This might be presenting work to senior bosses or volunteering for a high-visibility project. It shows you are ready to handle extra responsibilities. Comment now