Job-hopping generation: How to increase your salary by changing jobs
By Hanin Najjar
Gen Z and millennials drive older generations crazy for a lot of reasons, but in the workforce the main reason is job-hopping. Even though job-hopping gets a bad rep, it’s actually one of the most effective ways to increase your salary.
What is job-hopping? Job-hopping is when someone stays at a job for only 1 to 2 years before “hopping” to another job for more money, a better work environment or a career change.
Job-hopping can increase your salary by 30%.
On average, Gen Z and millennials spend less than three years in a job — Gen Z tends to stay at a job for a little more than two years.
So should you job-hop? Yes and no.
Changing jobs is not easy. It’s a headache to get adjusted to a new place and figure out your new health insurance, 401k and budget, but, if done right, it would very well be worth it. According to a conference board survey, job-hopping can increase your salary by 30%.
If you’re thinking about changing jobs, ask yourself these questions first:
Are others in the same position and with the same years of experience making more than you?
Has it been more than a year since you got a raise? Do you see a chance for getting a raise in the near future?
If it’s been a while, have you asked for a raise?
Are there opportunities for growth and promotions with this organization?
Does your job have an environment where you feel safe and comfortable?
If you find that you are being underpaid, and there are no raise or growth opportunities in sight, it might be time to leave.
Companies are not loyal to you so don’t worry about being loyal to them. Seriously. A company will lay you off if it wants to and underpay you if it can. If you are not getting the pay you deserve, the promotion you’ve earned or the environment you feel comfortable in, it’s time to go.
As a general rule of thumb, you should stay at your job for at least a year to not raise any red flags in your resume. But if your work is toxic and stressing you out, leave as soon as possible. It doesn’t matter how long you’ve been there, don’t do that to yourself.
So you’ve decided it’s time to go. Here are some things you should do:
Update your resume (honestly, it should always be updated).
Mark your LinkedIn profile as open for recruiters.
Start applying for jobs.
The best thing you can do if you’re not ready for a higher position is to jump to the same position at another company that will offer you more money. You can start by researching the companies that are competitors to your current company. Find them and see what jobs they have open.
Once you start getting job offers, remember to negotiate your salary. It’s not worth it to move jobs if you’re not getting paid more. You can also go back to your current employer with your job offer and see if they will match it or offer more than that, but be prepared to move jobs if they say no.
Here’s to you finding the job you deserve with better pay and a better work environment.
Header photo by Liza Summer / Pexels
