We find notice periods an important topic so we have done some of research into notice periods at various levels with the aim of answering these three questions:
Below are our findings at each salary level.
At this level, people can often be found on short notice, whilst 1 month is the overwhelming default notice period. Candidates on more than 1 month notice can find it a significant barrier to moving.
Fact: Just 6% of candidates earning £35k or below are on a 3 month notice.
At the £35k - £45k bracket, it is a real mix. This is the "crossover" point of 1 month and 3 month notice periods.
Fact: A real crossing point, at £35k - £45k nearly 1/3 are on a short notice period, 1/3 are on 1 month notice and 1/3 are on 3 months notice.
At the senior qualified level, 3 months is the default notice period and those on 1 month represent less than 10% of the market. 6 months notice is a significant barrier to moving at this level
Fact: 98% of Accountants earning £70k - £90k are on 3 months notice or less
At the exec level, 3 months is still the default for many, with 6 months still being rare. Due to the slower pace of recruitment, there can be more on a shorter notice period as their recent assignment has ended.
Fact: Just 6% of £100k + candidates are on a 1 month notice
Overall shorter notice periods offer benefits to both employees and employers making them equally as important. As a candidate a short notice period will always give you more opportunity but as a recruiter, to have access to the full talent pool will mean waiting a notice up to 3 months.