*REALITY CHECK*
Switching Jobs Every 1.3 Year's is the Fastest Way to Increase Your Salary, Especially Early in Your Career. Why ?
Because Hiring Budgets are Higher than
Raise Retention Budget!
2 replies (most recent on top)
I'd recommend 2-3 years vs 1+ year. I agree with the rest of your statement. These companies don't reward loyalty. Even if you're promoted from within, the salary increase is miniscule in comparison to taking your skills and knowledge elsewhere.
I'll never forget how I stayed in a position for over five years. Was hired at $65k, left at $67K. Left that company and jumped to $90k+. I vowed to never again stay in the same position for more than 2 years and at a company for more than 5 unless restructuring creates opportunities.
That's why Fiserv now offers those stock options. To keep you trapped. No thank you. Keep your rinky-di-k 5% discount and I'll keep my freedom.
You’re right, but stability is an underrated factor. It’s hard to constantly switch jobs and deal with uncertainty when you have a family to provide for, have health issues that require good insurance, etc.
If I lived with my parents as an early 20s person in a major metro, I’d be more aggressive with switching jobs. Since I’m not, I don’t.
Also most people want to coast in their career which is harder to do the shorter you stay at companies. You have a shorter timeline to impress and make a difference. I’d say 1.3 years is too short and 4 years is too long.
But if you’re young or have no serious bills, be aggressive in your early career. Leave every three years.