Does It Make Sense to Stay Loyal to an Employer?
Job-hopping may be the best way to look out for yourself - Issue #13
I was reading a Bloomberg article this morning about the current job market and wage growth. The data supports my belief that job-hopping is the best way for you to ensure continuous growth in your career, both in title and compensation.
“Workers who switched jobs from one month to next saw average wage growth of 5.3% in June from a year earlier, near the best pace in almost five years of data and outpacing the 4% gain for all private employees, a fresh high, according to an ADP Research Institute report released Wednesday.
Job switchers in the information industry led the way with 9.7% annual wage growth, followed by an 8.7% jump for construction workers and 8.3% for professional and business services.”
Getting a 5-10% boost in your wages is nothing to sneeze at. But, constantly jumping to a new job isn’t sustainable. What’s the right balance? Do you find a great job, stay loyal to your employer, and double down on working your way to the top in that company?
Or, should you jump ship t…