Job Hop Every Few Years for Biggest Salary Increase -The Muse

Job Hop Every Few Years for Biggest Salary Increase -The MuseJob Hop Every Few Years for Biggest Salary Increase In the past, weve defended job hoppers, noting that theyre not just better workers, but theyre also better paid. This isnt to say that employee retention is a pointless goal for companies We support initiatives that seek to keep loyal and dedicated staff, but, unfortunately, theres little way around the fact that switching jobs can mean a big career boost- both in terms of money and job title. Oliver Staley, writing for Quartz, discusses a study by ADP, the payroll processing company, which suggests that the largest salary increase occurs after two years at a company. Move on after that point, and youre likely to garner higher wages from the next place you start working at. Two years is not the make or break point, however, though the study notes that staying longer than five and then leaving for something else may mean less of a jump. Of course, if youre at an organizatio n for five or mora years, theres a good possibility that youre satisfied, stimulated, and feeling well compensated. (Unless youre just feeling stuck, in which case, maybe its time to get out and try to get ahead elsewhere.) Although getting promoted and receiving annual or close to annual raises is often a natural step in the career-building process, these days so is switching jobs. And if the ADP study indicates anything, its that the sweet spot is between two and five years.Younger workers, especially, tend to see the biggest jump in pay from job-hopping- approximately an 11% gain. But professionals over the age of 25 shouldnt be concerned with this finding, which seems logical more than anything else. As entry-level employees start out on a lower pay scale, it stands to reason that their increases are going to be bigger that is, a person making $45K could be making close to $50K with an 11%, while a person bringing in $75K may receive a respectable 8% bump, landing him at $81K pe r year. Its still a heck of a lot better than the average 3 to 5% raises most companies dish out to employees each year- if theyre giving out raises at all If youre in the middle of a job search and leaving a company every few years sounds like something youd rather not do, when an offer comes around, be careful to negotiate a starting salary that you can work with for at least a year or two. Dont accept something hoping that after putting in a stellar performance, you could be bumped up by as much as 10% because for that, youre probably going to have to get a new job.