Location: What really matters to candidates? If you’re someone who spends a lot of time thinking about what job candidates might want, the following information might come as something of a surprise: most people don’t really consider work-related factors when deciding where they’re going to live. Among high-potential candidates, with 6-figure salaries, “distance from work” ranked fourth out of six factors when choosing where to live, with distance from family and the cost of living ranking much more highly nationally.
The desire to remain rooted to family and friends is strong: nationally, some 61% of people earning more than $100K would not move out of state for an additional $10K in pay—a stat that underlines challenges of recruiting top talent from outside of a local market. Further complicating those challenges is that more experienced candidates tend to also be more resistant to the idea of relocation. Just 40 percent of people with less than five years of experience would not move for their dream job—significantly lower than the rates for people with between 5 and 15 years of experience.
Survey Methodology Since its launch in May 2018, Ladders’ Third Page survey platform has collected more than 6.5 million answers to questions from more than 56,000 members. The breakdown of respondents by function is as follows: Accounting & Finance: 9.6% Engineering & Construction: 2.8% Healthcare: 4.8% HR & Legal: 9.0% Marketing, Media & Design: 10.5% Operations & General Management: 22.8% Project Management: 5.1% Sales & Business Development: 20.6% Science & Education: 2.0% Technology: 13.0% For this report, responses were limited to $100K+ professionals located in the top 75 US markets by headcount.