Recent research shows that the American workplace is reverting back to its pre-pandemic form.
The 2024 Saratoga Annual HR Benchmarking Report from PwC found that the Great Resignation job-hopping days that defined the post-COVID-19 labor market are over. Last year, so many employees stuck with their companies that external hiring fell by 17%. Even so, internal promotions also declined by a comparable 15%.
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With both outward and upward career mobility on the decline, it’s more important than ever for those just entering the workforce to look for jobs that are known for promoting their best people quickly.
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Sales
Since strong sellers directly impact company revenue, the sales field is more of a meritocracy than much of the rest of the professional world. High performers and strong closers can get promoted quickly. If they don’t, they can easily market their talents and earning potential to a more appreciative employer.
Here are some of the highest-paying, fastest-promoting sales fields, according to Monster.com.
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Medical Sales
- Entry-level pay: $50,000-$70,000
- With experience and promotions: $80,000-$150,000
Information Technology Sales
- Entry-level pay: $50,000-$70,000
- With experience and promotions: $80,000-$120,000
Financial Services Sales
- Entry-level pay: $40,000-$60,000
- With experience and promotions: $70,000-$150,000
Consulting Sales
- Entry-level pay: $50,000-$70,000
- With experience and promotions: $80,000-$120,000
Entry-Level Positions With Large, Fast-Growing Tech Companies
While the national promotion rate has fallen across all companies, one sector is bucking the trend.
Employee compensation platform and data provider Pave analyzed 245,000 U.S.-based employees across 1,125 tech companies with 100 employees or more. The study found that 14% of employees were promoted in the 12 months ending in mid-October 2024. For context as to just how impressive that number is, the PwC report found that the overall promotion rate had fallen to just 8.7% nationwide.
The study found that lower-level jobs have “substantially higher promotion rates,” which makes the tech sector the perfect place to land a first job for anyone who values upward mobility. The rates were especially high with companies that are rapidly expanding and hiring quickly.
Starter Jobs With Big Banks
Banks — particularly big banks with international and global reach — offer several entry-level positions for newcomers to the workforce.
According to Indeed, the following positions are open to applicants with little to no experience.
- Personal banker: $38,830 average annual salary
- Teller: $37,910 average annual salary
- Notary public: $42,165 average annual salary
- Assistant underwriter: $52,888 average annual salary
- Administrative assistant: $40,052 average annual salary
- Loan assistant: $48,211 average annual salary
None of those salaries are mind-blowing, but in the era of dwindling promotions, big banks offer excellent opportunities to climb the corporate ladder once an applicant gets a foot in the door.
Data from HumanResourcesOnline found that big banks accounted for two of the top five spots on the list of companies with the shortest wait times for promotions. A big bank also held one of the top five spots on the list of companies with the highest promotion rates. Citi reported that in 2024, it promoted 31,500 workers, 8,500 of whom got year-end promotions.
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This article originally appeared on GOBankingRates.com: 3 Best First Jobs To Get Promoted Fast
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