On the road again

It pays to change jobs frequently.  Of course, the older you get, the harder it is to move around.  The downside is retirement age.  From my high school class, the people who stuck around in the same job are all retired now.  Me, not so much.  From Forbes.

Employees Who Stay In Companies Longer Than Two Years Get Paid 50% Less
Bethany Devine, a Senior Hiring Manager in Silicon Valley, CA who has worked with Intuit and other Fortune 500 companies explains, “I would often see resumes that only had a few years at each company. I found that the people who had switched companies usually commanded a higher salary. The problem with staying at a company forever is you start with a base salary and usually annual raises are based on a percentage of your current salary. There is often a limit to how high your manager can bump you up since it’s based on a percentage of your current salary. However, if you move to another company, you start fresh and can usually command a higher base salary to hire you. Companies competing for talent are often not afraid to pay more when hiring if it means they can hire the best talent. Same thing applies for titles. Some companies have a limit to how many promotions they allow each year. Once you are entrenched in a company, it may become more difficult to be promoted as you may be waiting in line behind others who should have been promoted a year ago but were not due to the limit. However, if you apply to another company, your skills may match the higher title, and that company will hire you with the new title. I have seen many coworkers who were waiting on a certain title and finally received it the day they left and were hired at a new company.”

Comments

Toni Chamberlain said…
As someone who left my first job after 22 years, what is the acceptable amount of time to stay at a job without being labeled a "job-hopper?" I worked at a job for 22 years, then 4 years, then earned my master's degree and turned to teaching. My first teaching job lasted 8 months since my husband's job relocated him. I have been at my current job for 2 years and 4 months with no raise. How does one avoid the "job-hopping" label?

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