Why you should job hop to increase your salary
A study done by the federal reserve bank of atlanta showed that 49% of job hoppers in 2022 beat inflation. In addition, pew research center revealed that between April 2021 to march 2022, people who changed jobs saw an increase of 9.7% more pay, as opposed to a loss of 1.7% for those who stayed in their current job. the stigma of being faithful to one corporation or company has drastically changed after the great resignation that occurred in 2021 and 2022. Also, consider that pensions used to be a thing. Pensions incentives employees to stay with a company for longer periods of times as they served as a retirement plan. Nowadays, 401ks roll over to a new job with ease. But you, as an employee, should you consider job hopping, or staying committed? Let’s dive in.
The Fear of the Unknown
Let’s discuss a few setbacks on why you would NOT want to leave your current job. One of the biggest challenges when considering job hopping is the fear of the unknown. It’s the classic dilemma—better the devil you know than the devil you don’t. You worry about whether the new job will actually be better, if you’ll fit in with the new team, or if you’ll regret leaving the stability of your current position. This fear can keep you tethered to a job where you’re not growing or being challenged, simply because it’s familiar. Also, IF your work environment is healthy and positive, the culture that is built around that will be difficult to emulate in other areas. Other jobs will have established cultures that could make it difficult for you to fit in at first.
Another reason similar to this is your flexibility with your current job. Some people find themselves in jobs where they are extremely lenient with either their arrival, kids, medical days, etc. Some jobs do not require you to physically be at the office every single day, some managers are lenient and understand you may be parents and have duties to tend to. If you’re in a situation where your job helps your current life, then it could be difficult to cut ties with that comfort.
A third reason could be the potential for a promotion. Here, you should be honest with your management and let them know you are ready for the next step. Many times, they will tell you whether or not they foresee a position being available. For smaller companies, this could be a hurdle. There may just not be room for you to grow. For larger corporations, a promotion could be right around the corner as the company expands, or in another city if you are interested in relocating.
Making the Leap with Strategy
Let’s say that you are ready to job hop. What should you do?
Begin why assessing your current situation. Before making any moves, take a good, hard look at your current job. Are you learning new skills? Do you see a clear path for advancement? Is the work fulfilling? If you find that you’re stagnating, it might be time to consider new opportunities. However, this doesn’t mean you should jump ship at the first sign of dissatisfaction. Job hopping should be a strategic decision, not a reactionary one. The first step to job hopping is to understand WHY you want to leave your current job. It could be the yearning for knowledge at a new company, or maybe you want to leave the toxic work environment. Regardless, make sure you truly understand why it is you are leaving.
Secondly, understand the Market. Job hopping isn’t just about finding a new position—it’s about finding the right position. Before making a move, do your homework. Understand the industry trends, what skills are in demand, and which companies are on the rise. This knowledge will help you make a more informed decision and increase the likelihood that your next job will be a step forward, not a step back. Make sure you job hop for a better opportunity. Sometimes you may feel like you just need to get out of your current situation, but i advise you to take a step back, breath, and be patient. don’t rush and sign the first offer you get. check your options. I’ve job hopped, technically, twice, but from one company to another once. I interviewed in countless places, my journal was filled with companies i researched, and i got multiple offer letters. HOWEVER, i didnt accept the first offer letter even though both times, the salary was higher than what I made at the current job. Just be patient. My reason for leaving was to grow and gain experience. I loved all my jobs and i enjoyed the working with the people there, so i wasn’t in such a hurry to leave. but by me waiting, and having options, I was able to pick the job that i felt best fit my next growth opportunity. Now, if you’re asking yourself, well i dont have options, you could be doing something wrong with your resume or during your interviews. Worry not, head over to my website at bridgingmindset.com and book a resume consultation with me and i’ll guide you step-by-step along with a mock interview.
Tying into this, in my opinion the biggest advantages of job hopping is the opportunity for rapid growth—both in terms of skills and salary. Each new job can expose you to different challenges, teams, and environments, broadening your experience and making you more versatile. Additionally, changing jobs is often the quickest way to secure a significant pay raise, as many companies offer higher salaries to attract new talent. You also stimulate a growth mindset by doing this. Being placed in brand new environments and overcoming those challenges builds mental fortitude. It reassures your confidence and abilities. Changing jobs really does pit you against the tigers. It feels like you are a fish out of water. And trust me when I say, overcoming those types of challenges is what results in greatness.
Becoming a Strategic Career Navigator
So, should you job hop? The answer isn’t a simple yes or no—it’s about strategy. If you find yourself in a role that no longer challenges you, offers growth, or aligns with your long-term goals, then job hopping might be the right move. By approaching it strategically—assessing your current situation, understanding the market, and leveraging opportunities for growth—you can turn job hopping into a powerful tool for career advancement.
Remember, your career is a journey, not a destination. Each move should be a step toward building a more fulfilling and successful professional life. By understanding when and how to job hop, you can navigate your career with confidence, ensuring that every leap you take is one that propels you forward.
