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Don’t get to close to the sun. Dont get into a job where you are paid way to high vs what revenue you produce the company. You’ll be the first one to get the boot to reduce costs. Be an asset.
My supervisor just left after 20 years which is really sad and she just finally hit 6 figures last year. Now she is a director for a rival company making double. It honestly doesn't make sense that companies do not value long term employees anymore.
Long term means nothing to most companies. It's the value an employee brings and the cost to keep him/her that matter. Almost any job is replaceable these days.
If you ever managed employees, you would see that most slack off & become complacent after years on the job. There’s always the star employee that should move on. Personally, my approach was to call them out, figure what I could do to keep the train going & motivate my team.
@@fr3ddy1461it makes sense because they don't want to pay higher salaries. It's about costs and employees are assets. They are already planning for AI to take the jobs so they can make even more money.
Gone are the days when employees used to work for a single company their whole life. It's better to switch companies nowadays than climb the corporate ladder. Don't fall for the "we are a family" BS. Just switch jobs every few years and do something on the side. That way you don't have to worry about anything.
Whatever you do, don’t change jobs just because you’ve hit x number of years. It’s a case by case basis. Your situation is unique, so you need to consider it in isolation.
Switch jobs only if you're not progressing. As long as you're getting promotions/ raises or the job is serving your goals, stay. As soon as they start giving the 0.2% yearly raise, dip.
The simple answer is stay as long as it benefits you or are happy. It should not come as a surprise that you are dispensable and will be laid off at a moments notice no matter how long or how many extra hours free work you put it in.
The ideal time scale is 3 years at each job 3 is a strong amount of time no one questions the length, it is long enough to justify being promoted a grade up in your next move.
I mostly agree - I think it scales as you climb. A couple of 2-3 year positions in the beginning of your career is perfect, but as you rise in the ranks this should become more like 5-7 years or it could look suspicious. Unless of course you are miserable in the job, then definitely get out of that situation.
@@mykki.dAs you progress in your carrier I think you are less inclined to switch in the first place. - Your salary usually grow quickly in your first 10 years, if you dont go above certain managerial roles your real wage will eventually stagnate even if you switch jobs. - Your lifestyle will slow down especially if you have kids.
Pretty much agree. Also depends on the company you work for, cause if they are giving you regular promotions it might make sense to stay longer than 3 years
Nah, that is just too much time. I 4x my starting salary staying 6-8 month in companies. Job hopping is the way to go at least for my generation, which is Gen Z. No point on staying longer than a year.
While eating dinner in an airport, I overheard an inebriated accounting firm senior guy, who looked in his fifties, advise a younger accountant, "We're all prostitutes in business. We provide service." Arrogantly uttered but somewhat true.
After grad school, I worked at a job for 2.5 and I switched roles while I was there. I gained enough experience to leave and find another job with a 15k pay bump. Always try to gain as much experience you can because you will always be a student never the master. Good luck to those who are taking a leap of faith in their careers!
I am 44 and doing this. Was a stay at home mome until my marriage fell apart in 2019. Started at 45k, promoted to 55k, switched companies to earn 90k. That was 20 months ago. Now I am about to accept a job offer with a different company for $115k base plus bonus. You don’t have to be in your twenties to do this. It just seems to be a good strategy for anyone early in their career.
The first company A , I worked for 5 years. Then I got 40% raise when I switched from company A to B and 9 months later I got laid off. To my surprise I got another 10% raise when I switched from company B to C. I should have left my first job much earlier
Hard figures are much more useful than % raises. What was the 40% increase from and to? 40k to 56k? 60k to 84k? 70k to 98k? Sadly, there’s no official market rate. So companies will adjust based on how difficult it is to fill a position, which they’ll only realize when nobody is will to do the work for less.
I switched jobs until the pay was right for the amount of responsibility, the culture was right and I could continue to save, invest and pursue my side hustle to replace the main hustle. Now that I'm there, I'm happy and don't plan on leaving until I'm able to leave the workforce entirely. Be strategic when switching jobs, you may invite other problems you didn't have previously.
Job switching comes with its own ups and downs…including the risk of being the first on the chopping block if the company starts to go belly up. But it also allows you to raise your income…but the first 3 months can be stressful trying to fit into the culture and leading a new team.
95% of US workers said they plan to look for a new job in 2024? That is an absolutely insane stat. Like, completely mindboggling. Enough to assume that it's probably not even remotely accurate
They probably used a very broad set of options which amounted to "I plan on looking at other job postings", "I plan on seeing competitor's salaries", "I would like to earn more money", etc. with only one option for "I plan on staying where I'm at" as the "No" response to "do you plan on looking for a new job in 2024?"
They also seemed surprised that entry age workers don’t stick around at their job flipping burgers than older ages. I always question mainstream media data.
Yeah, I was looking for this comment. When I hear a radical number like that I tend to distrust everything that comes after. If you're exaggerating that key data point, your insights are not all that insightful. I'm open to it being true, but would need to see the study in depth and additional supporting studies from other sources.
I went from just under 42k as a high school teacher in 2021 to 55k in my first assistant professor position. A year later (2022), I moved to a research university, making 65k. In 2023, we got a raise that put me at just over 68k. We're getting another that will put me over 70k in Fall 2024. So, in 3 years, my full-time income increased by approximately 30k. With my other remote teaching gigs, I make well over 100k. I don't regret job hopping!
Wow. Which state? $65,000 for a university professor is not too much. You can make that amount working a blue collar job at a younger age. Trying to become a teacher was my biggest mistake in life. It made me fall behind in life, career, and finance. I work now in tech making 68k and the job did not require a degree nor much experience.
Unfortunately teachers don't make a lot, very underappreciated. Speaking as someone who teaches preschoolers. The mental toll is not worth the 20 bucks an hour. @@jacqueslee2592
Thought about applying for another company coz my current one doesnt pay that high but the benefit of WFH, relatively stress-free work, flexible hours, take time off anytime and change schedules anytime really made me stay. Valued the flexibility over the money since i have a baby.
I stayed at my first employer for 20 years. It was hard walking away from a $100k+ engineering salary and six weeks PTO in a low cost state. Oh and a Pension as well. But when I realized our net worth was $2.5 million at age 43 and we lived a simple life below our means...I convinced myself money wasn't everything and time to do a career change. Now making 50% less but super low stress and the net worth is actually $4.7 million now. No more commute or pointless meetings actually came with this new job. Nothing beats using your own bathroom and kitchen on the clock. I spent more time around my kids during their high school years and finally was able to see them come home from school after all these years which was pretty important to me as a parent. Make them a snack, ask them about their day, etc. Life is pretty easy and relaxing now in my mid-40's....I quickly fall asleep at night and no longer think about work outside of work hours..... sometimes even on the clock I don't think about work. You just have to find a way to reach a point to convince yourself money and title isn't everything.
Exactly. It’s the investments and lifestyle you make that really give you the wealth. Not the constant salary hunting and trying to outcompete others on interviews by brute forcing technical exams.
@@leonchen89For me, once I saw the gains from investments shadowing our earned income (as well as the dips) I saw my job and working for money differently. This is a blessing and a curse not going to lie. It became harder sitting in pointless meetings!
@@sunsetat9 Big Aerospace Company currently in the news for safety -- Can you take a guess based on this clue? If you work for certain State or Federal jobs you can still get a pension today.
It takes a significant amount of effort to rotate to another role and learn the aspects of company and job functions. I think/feel the older you get, the desire to constantly hop becomes burdensome. Tenure can create experience and expertise, which many employers do want.
Very fascinating, because a lot of this is pretty true. One thing to note, is certain company have age preference too surprisingly. Example: Company (A) might prefer older individuals, because of maturity and commitment. While company (B) might prefer younger folks, because of lower pay and the welcome of new ideas. It's all a part of the culture, structure, and innovation. This is only a small part of the overall.💯
Unfortunately, this video is irrelevant. There are many people out there applying for hundreds of jobs all the time and not even getting an interview so it’s not that easy just looking for another job.
@@joesmith-th3jq That’s exactly it, there’s lots of ghost jobs being posted online. It sucks because when you apply for the job, you end up not getting a call back. Instead you get an automated email saying that they found another candidate for the job listed.
I felt this way in the past but what worked for me was this: I stop applying for jobs on rat race websites like indeed. I invested time in building my LinkedIn and resume. I reached out to recruiters and recruitment companies to apply for me. My current company and previous company were high paying jobs and had no postings on major sites. Both were private companies. Please don’t get discouraged… keep digging until you reach goal. Trust me.
Yeah I considered this but also I considered that since this was my first position in the industry I am in, I didn't have any leverage or direct experience. Now after a year and a half, I'm way more experienced then when I first started, the only reason I haven't started applying for other positions is because I want to get some certifications under my belt before I leave.
I work from home doing graphic design and make around 75K a year and sometimes work gets slow so I get to take care of household chores. My boss is also super nice. I don't see why I would want to leave and risk getting a job that affects my stress, health, happiness, for a bit more money. I even moved to GA where the cost of living is lower and can live anywhere in the country I choose.
Not said here but for people without college degrees in good paying positions be very careful if you move from something that pays well it can be hard to move back employers still put a fair amount of weight on college degrees. I Really had to bust my hump in the interview to get a good paying white collar career.
@@PsyQoBoyI meant more from the perspective of switching careers without a degree it's a bigger gamble for those of us without degrees. I can't easily switch from the career path I'm on because I don't have the backing of a degree.
Same goes for jobs that usually require a masters. It can be difficult to compete with just your work experience against those that have a masters when you're looking to switch.
90% of organizations are worried about employmee retention? Maybe they should give their current employees raises on par with the rates they pay new employees then...
In 8 years I went from a yearly salary of $20k in 2019, $52k in 2020, $58k in 2021, and now I’m at $100k. I’m actually searching again and my new goal is $145k.
I’ll also change job for a pay raise. Loyalty to the dollar. At the end of the day I need that money. If I’m gonna grind in this 9-5 work culture, might as well grind for a better pay
Do we consider only switching companies as job switch or also switching position within the same company? It can be someone works in 10 different positions at the same company, and someone else works at 10 different companies but always in 1 position. Does the first example come into the job switching statistics?
13 years ago i moved from Portugal to Switzerland. Got a job in watch making industry.They told me that i could work there until my retirement,and honestly i'm trying my best too do soo! Only 25 more years 😅😊
In my experience, when working for someone else, e.g. not self-employed, there are two constants. One, you cannot get rich working for someone else. Two, you're expendable, e.g. the employer can let you go at any time. My advice for job hoppers is to be loyal only to the mighty buck. Find the job where you get paid the most amount of salary with the least amount of work and the least amount of stress.
You can get rich slowly be saving the majority of your pay. You're right generally that owning a business is the only way to really generate a lot of money.
I was hired in 1994 and would like to stay 7 more years and retire. I'm a mental health crisis counselor with a hospital system and I've been offered jobs with other systems but the pay and benefits are about the same. I enjoy my work, I'm paid enough, so I have little incentive to change.
😑jobs will drop you in a heart beat…always always have a back up…widen your experience to grow your self valuable and keep yourself knowledgeable in the job market but to be honest aspire to be your own boss 😊
If you work in tech, you MUST job hob every 18 months, unless you have one of those stock option RSU thing, then stay until your stock options are vested. Don't get stuck at a company for too long, no matter how nice the income is or the prestige of the company you work for. You are all replaceable and you gotta leave them before they leave you
Yes, half of the job is not doing real work but training on how to pass interview exams. I learnt this the hard way after getting laid off working for the same company for 3 years.
I’m going to be as honest as possible. If you’re not planning on making that job a career long term less than 2 years and switch jobs. The reason I say that is because you don’t want to get too comfortable in a job that you cannot live with the rest of your life making that crappy salary. Although I’m positive with rent increases everyone has at least two jobs. Which is good, you gotta do what you gotta do to pay your rent but career wise never get to comfortable unless you plan on staying there trust me.
Two jobs are not always good for me nothing is more essential than being well. You won't be able to move around to buy anything or engage in any activity if your health isn't good, regardless of rising prices. In addition, working longer hours means spending a lot of time with toxic coworkers, which is stressful at work and bad for one's mental health. Then, imagine this: if you spend several hours performing a bodily hazardous job, guess what? In other ways, it damages the body and increases stress. Starting a side hustle or investing that's not stressful is the best course of action if the person needs that extra money.
I'm DCAing in Blcktken300 as well. ETH heavier DCA and ALGO. I'm taking your advice and starting Google tomorrow with a 50 dollar purchase and continuing Microsoft and Apple. VTI and VOO on another app and longterm portfolio. Here we go family!
Stayed 20 years in the USAF - best decision I’ve ever made to retire in 2017 at 38 years young with the ability to start a second career working remotely from home 🏠🙏🏾🙏🏾🙏🏾🙏🏾🙏🏾
I think you have to do what’s best for you and your future. What you want from your career and what you expect from a company will play a key part in staying long term or leaving in the short term. But I still believe there are small number of companies that value you and your work as an employee and will treat you with respect and reward you with appreciation and higher compensation.
Jump early in your career, and ease back and off as you grow older. Like the video said, the majority of Senior Levels are the Veterans at that company.
I waited for that promotion in 3 years just to find out I was being terminated. Leave as soon as possible. It’s a business, and you’re just a number to the employers. They will eat their young just to be profitable.
Thank you to you CNBC, for coming out with a video like this...which matters to a lot people nowadays who are in dilemma when they are announced that they will be laid off etc..best 12 minutes watching the content and experiences ahared by different people and the acute statistical info and analysis presented as well..kudos keep doing this 👍
The most important point is missed: immigration status. If you are a US citizen or a lawful permanent resident, you can hop as many times as you want. But legal immigrants are not following this pattern. Once a company sponsors you for H1B or a green card, you are on the hook for the next 3-4 years or even decades. Every career change is a well-planned venture because the risk is high, especially during layoffs. You are given only 60 days to find another job or must leave the country. For people with families, mortgages, kids at schools and other assets/liabilities, this is insane. No one talks about this modern form of unfreedom, but many people I know who went through this immigration hell are great managers and leaders. Grit is what makes them great.
If you don't know what you are doing in your new job, congratulations, you have found a job that is challenging and the next step up. When you fully know every facet of the job and it becomes tedious, it is here where you should consider asking for a promotion, or try switching companies or agencies if you work in government.
Been loyal to a company for 1.5 years putting in extra effort on weekends and working long hours as it was my first company and they even did training. Got laid off at end of jan. The worst part is that people who don't work at all are still working there. Still looking for job and decided to not give a damn to a company from now on.
@winwinwin282828 if I wasn't laid off I would have stayed there lot longer, and during the 1.5years I didn't have a single thought of leaving for a better place even though some left as soon as they completed training for 50% hike.
skill acquisition with wide exposure in my 20s, seek upward mobility, pay increases, and multiple streams of revenue in 30s, develop dependable repeatable automatable processes for personal/work growth in my 40s. Do jobs that fulfill me in 50s and Retire by 60. I started this in my teens so I shifted all this the left by 5 yrs.
I just reviewed resumes a few days ago! I get people will change jobs, but I can say that I won't be hiring someone who has had a new job every 3 months. I don't need a blood oath commitment, but I don't want to have to hire and train a new person to replace you in 3 -5 months.
You need to use your employer, the same way they use you. I’ve worked at 4 large organizations over my working decade post graduation. I’ve received better hours, better commutes, increased pay, tuition reimbursement, 401k matches that rolled over, and pension style accounts that I got to keep. You need to look at the entire compensation package and evaluate it regularly to determine if this is the right place to continue working
I love the part where she says a job hopper might miss out on a promotion opportunity while also admitting that companies don’t promote often enough, often once a year or once every couple years. No employee who is highly skilled is going to wait for a promotion when they can just get a new job with that same promotion job title/role
Being laid off is the best. A severance package and time to unwind from a stressful job was just when I needed after my last two positions where I wash just not enjoying it anymore. I qualified for unemployment too, so I wasn't really stressed out while I was in between jobs. As a 35yo millennial, I do value loyalty, but I've learned about the importance of moving on when necessary. Always have that resume/portfolio updated, your network close, LinkedIn active, and skills sharpened. Waiting to get laid off is not always gonna be the best bet, so setting yourself up for success by being prepared for the next great opportunity is crucial.
I usually try to stay at least a year or two at a job. Though with the current job I have I'm actually planning to stay for a few years at least. They have really good pay, amazing benefits, and they actually care about their workers because they are financially incentivized to as they are employee owned.
@2:37 yes, higher pay isn't the only thing that would make me happier. But it's far more important than the other things he listed and throughout this video. I'd rather make $100K and have terrible coworkers than make $50K and work with best friends.
Depends how long you've you're willing to put up with terrible co-workers. Eventually, you end up being terrible like them or become their victim. If co-workers are constantly trying to throw you under the bus, then you might not have the 100k job very long. If you can happily make 50k without fear of losing your job, it's possible that the consistent paycheck would end up allowing you to have earned more money than constantly losing your job due to crappy work envrionments.
Maybe I’m an “older” generation, but when I’m reviewing resumes I look at the frequency of job switching to determine if this person is worth spending time and money on to train them for the job. I can overlook switching after a short timeframe, but not if it’s consistently happening. I prefer to see candidates with a 3-4 year window at their former positions. If you’re jumping within a year frequently, there’s a good chance they you were fired or let go because you weren’t a good fit.
Not necessarily. I worked about 3 years in my first job out of college and then only worked 16 months in my last job. I am now somewhere else because it was a much better opportunity for life and family purposes and is now a place I’d like to build a foundation with. Not everyone who has frequent job hopping is because they were fired or shows lack of work ethic. I believe you have to look at the whole picture and figure out how that maybe something was happening with their personal life with family or something during those years. Your offer might be the offer they are seeking to give your company a major 10 years because that’s where they want to start their foundation. There are a lot of bad company cultures and managers so some people are moving around because perhaps the people that work there are absolutely terrible to work around. I do understand where you’re coming from though, just kind of a side thought on how we do need to look at people as people too.
At the same time, everyone is pretending to be a company. If a company gives another company a bad deal, there is then no further business. People are perfectly willing to just take their business elsewhere at the drop of a dime
@@tmi4507 - All valid points and I try my best to give someone the benefit of the doubt. If the person is just starting their career often they are switching jobs more often to figure out what they want to do. It’s still important as a manager to determine what they are looking for from our company. If what we want from them aligns with their career goals, then there’s a better chance they’ll stick around.
It isn't that easy to job hop. There's so many other factors to consider: industry you're in and its growth potential, region where you live, your current living situation and/or personal support network. I'm sure there's more to consider.
I left jobs for a non-lateral move (to a supervisory role) with a significant pay increase. And I'm preparing to resign after just 6 months any day now but not due to compensation or career growth. Im just utterly disappointed in the workplace culture, lack of motivation across my colleagues to want to improve things, that I don't want to waste my time trying to steer their ship if no one shares in those aspirations.
I started as a QA Tech with my current company making 27/hr and worked for a year. I then moved into a salaried position as a supervisor and then into an analyst role working for corporate HQ. Went from 57k to 87k all within 3 years total! It definitely helps to move around. Now I’m looking to change companies and will make even more!
I increased my income from 38k to 75k by switching jobs from a company who refused to promote me after 4 years being with them. Always keep looking for better paying jobs every 1-2 years if you aren't satisfied with your work.
Best advice I ever received was don't have loyalty to a company because they will not remain loyal to you in the downtimes. I avoided being laid off recently by leaving and gaining a better job
The real key? Put as much away as you possibly can into a retirement fund, hopefully matched by your employer and do as much as they will match. Often 10% of your income. Also in addition, put some into their stock plan if they seem like a good investment. You may be able to buy discounted stocks. You will be surprised how it builds up. I went from in-debt to retirement in about eight years by socking as much as I could away. I'm older but the job was average-ish pay. Not in the hundred thousands, but I managed to save enough in that time to stop working by being careful how I spent and investing in my future. That beats job hopping any day!
@@KP-xi4bj you can of course, but it may get messy with separate 401ks and stocks strewn around. If it gets you more money, it's probably worth it, but you may lose desirability to an employer if you job hop regularly.
@@kenmore01 The loyalty should be to the dollar and not the employer. In my experience, the employers "care" about you on the surface. However, deep down you know that you're expendable.
@@KP-xi4bj Oh, I know it! My employer canned me as quickly as looking at me last year over a minor thing. This after eight years loyal service. The very day, pay stopped as well as all benefits (insurance.) Believe me, I have NO loyalty to any employer after that once they say the magic words "at will employment " notice etc are our the window!
Employers are absolutely not human, especially in small, founder-run, private companies. They want you to stay, but don’t give you the “culture” or pay that would actually make employees want to stay. There is all of this data that revolves around employee retention and whatnot, but really the only thing that matters to the individual is earning enough to be happy, and not hating their job. That’s it.
@@user-by3nd4rm6c Yeah, Fascist rhetoric. That's what I said. 🤷🏻♂️ And ofc. Fascists always use NewSpeak and Double Speak. It's how you creeps can pretend to not mean what your dog whistles imply.
There are some opposite examples too. In my case, I’ve learnt that I’m underpaid compared to the market and even compared to my peers in the team. I’ve gathered data of average salaries for my role in other companies and presented it to my manager. She took it seriously, went to HR and finance to try to secure and ad-hoc salary increase. Sometimes if you like your job it’s worth having that serious conversation with your manager instead of immediately start looking for a new role when you are unhappy with your pay. Too many people would just avoid the conversation which I think is a mistake.
"Finding out what the opportunities are within your company involves an uncomfortable conversation with your manager." This is the kind of conversation that you should be having regularly with your manager! Get comfortable with uncomfortable conversations! Expressing your desires for growth should lead any good manager to open doors for you and coach you to help you succeed!
In my experience, I’ve seen many people job hop to chase higher salaries. But they failed to understand how this works. For example, an employee job hops for higher salary. That person gets the bump they sought but end up at the bottom of the new salary grade. They’re typically overlooked their first year since they just hired on. Then they’re learning the new job so their second year gets a minimal raise. Meanwhile, their counterparts are advancing in their old company. Bottom line - talent is recognized and promoted. People without valued talent think too highly of themselves and are prioritizing new employment over focusing on getting better at their work. This will be a painful lesson when (and inevitably) a staff reduction occurs. Newer employees haven’t established networking to save themselves.
Just swapped all of my last ETH and swapped it into Blcktken300 . Already up a little bit. Unfortunately I have some other junk staked which won’t free up for a while. Still now I am on the train!
I was bummed out when i got let go from Covid as it was not a thought in my mind to look for another job, then everything changed when my next job was a huge increase. Since then i switched jobs 3 times and doubled salary with huge jumps each time.. long story short dont get too complacent on one job u can potentially earn much more.. again reaserch the company and make sure u make the right move and not just for the money
I've changed jobs 4 times in 7 years. I'm now making more than 4x of job #1. Granted, that job was underpaid but still. I have been at job #4 for 18 months and I really like it there which is important imo. I'm also not sure I could even make much more if I did hop again.
Depends on many factors: is it the career you want? Are you getting raises, career mobility? Flexibility? That all needs to be factored in. But off top 3-4 is long enough for one position. It used to be 3-5 but today it could even be 2-3.
Intended viewers are professionals, correct? Does this apply to warehouse workers, cashiers, sales associates, fast food employees, customer service reps, etc? Also, if a person working in jobs like that has 3 jobs in 2 years, how detrimental would this be? I would think it's not looked upon favorably, even if each job was higher paying than the one before.
There are a ton of things that go into leaving your position. Sure, I could go to another job and make more money on the hour, but there are things I would sacrifice, like work flexibility, M-F and home before 4:30, good PTO accrual, free birthday holiday off, 17 paid holidays a year per the state holiday schedule, state retirement programs, paid conferences/CEUs/work trips, etc. I always make a pros and cons list, but also take into account what that shift would mean for my family.
A good video highlighting all the aspects for jon switch. One thing that was not mentioned was that after a switch, the increment, bonus, stock options and other perks are minimal for that year. So, when one switches jobs, they need to make sure that they are making more money with the switch than if they stayed in the same company after a couple of year. This is even more important because its highly unlikely that you will land on a hotshot project immediately after you join a new company (unless you are a strategic hire). So, there is a high possibility that your learning may be stagnanted for some time in the new company.
The problem is if they look at your resume and know you are a job hopper, they probably wont hire you or may ask you why you switch job early excluding layoff.
Studies and experiences will define what I'll do for living. Be part of a team and then keep up for get through tasks and objectives is what I like to do. Relations enables to arrive at the finish line.
As a hiring manager, I definitely see this. However I really struggle when candidates are asking for 10%+ when making lateral moves. There's so much discourse and advice about job hopping for a raise, but neglects to mention there's real salary caps on some careers.
Gen X here. I have been an engineer for a big local government entity for the last 34 years moving from one department to the next. I will be retiring this year with a pension that pays 72% of my current income for life with COLA. When I die my spouse gets 50% of my pension for life with COLA. So think "strategically" about how long you want to STAY on your job.
Really great video. Be brutally honest with your skillet. Assess what skills your industry is interested in, review job openings that interest you and acquire the skills mentioned in the preferred experience section. Find that thing you can be a subject matter expect (SME) at.
I joined my current employer exactly 4 years ago. I have not left because my compensation has completely skyrocketed within the same company. I think staying in the same employer is positive if you are actually getting the right conditions.
I have been with a Fortune 500 company for 10 years. Haven't seen much growth, and my salary has been stagnant. I have been applying for other jobs, no interview but got one and start in a month. I feel like I'm having an affair. I'm holding my 10 year job by going on a leave of absence so I could try this new one which pays $15,000 more a year. I plan to work both eventually until I feel the new job is a fit for me. But everything said in this video resonates with me: - Career Advancement - Higher Pay - Toxic Environment - Better Benefits
Get into contracting! You work 6-12 months for one company and then go work another 6-12 months for another company yet you’ll make more money everytime you switch because you’re increasing your skillset at a faster pace. A lot of staffing agencies offer 401k and insurance. Just keep rolling it over into your own retirement account. The goal is keep pushing for more money!
@6:08 I have to disagree with this sentiment. At this age (30-35) you're most likely beginning to hone your executive skills which in a lot of cases requires a move elsewhere (typically recruited) to step up to the next level. Ultimately, if you play your cards right, you'll reach your employment goal & find a company worth fighting for...typically in your late 40's/early 50's. Also, when presenting a resume with many past employers, they should reflect a period of growth at each opportunity, otherwise new companies won't even look at you or invest in your personal growth in-fear of you just getting bored and moving-on.
I wonder what the study shows for percent of people laid off that are "new" at the company versus those who have been there longer. Is the difference significant.
Great video. We are all seeking for financial independence and a better way of life. This is not difficult to achieve with savvy investing, a frugal lifestyle, and cautious budgeting. I'm glad I learned early on to work hard for financial independence with the help of my FA Anna Rounds Fay. As Warren Buffet said, he has seen this happen many times in his life. Not an investor, My wife and i never earned more than a middle class salary. We plan to get retired at 58 with a stock portfolio worth $1.7M. We have never sold so much as one share of stock.
People don't really know this, You need to create your own process, manage risk and stick to the plan, through thick or thin while also continuously learning from mistakes and improving.
Thanks for sharing, I just looked her up on the web and I would say she really has an impressive background in investing. I will write her an e-mail shortly.
Investors need to exercise caution with their exposure and be mindful of new purchases, particularly during times of inflation. It's advisable to seek the guidance of a professional or trusted advisor, as high yields in this economic climate can be challenging to navigate
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Did someone paid the $97? Who is something that’s not already on youtube for free?
Get the most you can while you can. Employers will drop you in a heartbeat. Don’t think they won’t.
Exactly... Most people are expendable. If you died the next day they all they'll do is to put up an add for your role.
@@PsyQoBoywhat else they supposed to do reincarnate u back to life ?
Don’t get to close to the sun. Dont get into a job where you are paid way to high vs what revenue you produce the company. You’ll be the first one to get the boot to reduce costs.
Be an asset.
Yup AT THE END THE DAY YOU ARE JUST A NUMBER TO THEM!! FORGET THE NONSENSE!!
Goes both ways. Employers also get the most out of their employees.
My supervisor just left after 20 years which is really sad and she just finally hit 6 figures last year. Now she is a director for a rival company making double. It honestly doesn't make sense that companies do not value long term employees anymore.
Bc they wanna save money by firing long term employees to hire fresh ones with a lower rate
Yea but it costs so much to bring new employees on board, it makes 0 sense
Long term means nothing to most companies. It's the value an employee brings and the cost to keep him/her that matter. Almost any job is replaceable these days.
If you ever managed employees, you would see that most slack off & become complacent after years on the job. There’s always the star employee that should move on.
Personally, my approach was to call them out, figure what I could do to keep the train going & motivate my team.
@@fr3ddy1461it makes sense because they don't want to pay higher salaries. It's about costs and employees are assets. They are already planning for AI to take the jobs so they can make even more money.
Gone are the days when employees used to work for a single company their whole life. It's better to switch companies nowadays than climb the corporate ladder. Don't fall for the "we are a family" BS. Just switch jobs every few years and do something on the side. That way you don't have to worry about anything.
Watch out for those employment contracts and non competes. They can effect future employment and even your ability to collect unemployment.
Thanks jack welch
When you're at McDonald's, your family
This isn't applicable to every job or company.
That’s like pre-historic days when average life expectancy was much lower.
Whatever you do, don’t change jobs just because you’ve hit x number of years. It’s a case by case basis. Your situation is unique, so you need to consider it in isolation.
It should be put feelers out there. Shouldn’t leave without assessing your options and current state
Switch jobs only if you're not progressing. As long as you're getting promotions/ raises or the job is serving your goals, stay. As soon as they start giving the 0.2% yearly raise, dip.
great point
Yes, also if you are young and healthy then jump every 2 years
@@caramela4830so is it a time matter or not?
The simple answer is stay as long as it benefits you or are happy. It should not come as a surprise that you are dispensable and will be laid off at a moments notice no matter how long or how many extra hours free work you put it in.
Just make sure not to get too complacent with work. It’s important to keep learning new things to avoid becoming obsolete.
Preach, this is why we constantly live in fear everyday of our lives.
better to be laid off to get unemployment tho
@@T.O.E.C Fax that financial lifeline hits just at the right time!
@@legostudmost important point
I switched jobs 4 times since 2020 and my salary has increased by over 50K and fully remote. Loyalty to corpo's only costs you.
Hopefully it goes down 100k 🙏
@@luisfernando5998 jealous or just mad?
@@Konski82 the money u loose will go to some homeless so I am all for it!
@@luisfernando5998 I don’t understand your reasoning or comment. Have a good one.
@@Konski82 of course rich people hoarding wealth from the poor won’t understand
I've had 9 jobs in 11 years. This has allowed me to increase my salary a lot. Like, from 55k in 2020 to 146k in 2024. Cero loyalty to companies.
What do you do for a living if I may ask?
@@rabd3721 Network Engineer.
🧢
@@rabd3721 Network Engineer.
@@thenightporter yeah.
The ideal time scale is 3 years at each job
3 is a strong amount of time no one questions the length, it is long enough to justify being promoted a grade up in your next move.
I mostly agree - I think it scales as you climb. A couple of 2-3 year positions in the beginning of your career is perfect, but as you rise in the ranks this should become more like 5-7 years or it could look suspicious. Unless of course you are miserable in the job, then definitely get out of that situation.
@@mykki.dAs you progress in your carrier I think you are less inclined to switch in the first place.
- Your salary usually grow quickly in your first 10 years, if you dont go above certain managerial roles your real wage will eventually stagnate even if you switch jobs.
- Your lifestyle will slow down especially if you have kids.
@@collan580i tend to disagree, move often tonget what you need.
Pretty much agree. Also depends on the company you work for, cause if they are giving you regular promotions it might make sense to stay longer than 3 years
Nah, that is just too much time. I 4x my starting salary staying 6-8 month in companies. Job hopping is the way to go at least for my generation, which is Gen Z. No point on staying longer than a year.
Job requirements, you need to be learning or earning. If neither are occuring, it's time to find a new employer.
Roy Wood Jr. said it best: "You don't own these jobs. You rent them."
wise words!
While eating dinner in an airport, I overheard an inebriated accounting firm senior guy, who looked in his fifties, advise a younger accountant, "We're all prostitutes in business. We provide service." Arrogantly uttered but somewhat true.
After grad school, I worked at a job for 2.5 and I switched roles while I was there. I gained enough experience to leave and find another job with a 15k pay bump. Always try to gain as much experience you can because you will always be a student never the master. Good luck to those who are taking a leap of faith in their careers!
I am 44 and doing this. Was a stay at home mome until my marriage fell apart in 2019. Started at 45k, promoted to 55k, switched companies to earn 90k. That was 20 months ago. Now I am about to accept a job offer with a different company for $115k base plus bonus. You don’t have to be in your twenties to do this. It just seems to be a good strategy for anyone early in their career.
Good job mom👏🏾👏🏾👏🏾👏🏾
The first company A , I worked for 5 years. Then I got 40% raise when I switched from company A to B and 9 months later I got laid off. To my surprise I got another 10% raise when I switched from company B to C. I should have left my first job much earlier
Hard figures are much more useful than % raises.
What was the 40% increase from and to?
40k to 56k?
60k to 84k?
70k to 98k?
Sadly, there’s no official market rate. So companies will adjust based on how difficult it is to fill a position, which they’ll only realize when nobody is will to do the work for less.
@@mecanuktutorials6476 it was from 79 k to 112k and 112k to 126k
I switched jobs until the pay was right for the amount of responsibility, the culture was right and I could continue to save, invest and pursue my side hustle to replace the main hustle. Now that I'm there, I'm happy and don't plan on leaving until I'm able to leave the workforce entirely. Be strategic when switching jobs, you may invite other problems you didn't have previously.
Job switching comes with its own ups and downs…including the risk of being the first on the chopping block if the company starts to go belly up. But it also allows you to raise your income…but the first 3 months can be stressful trying to fit into the culture and leading a new team.
Perfect timing. I'm getting a 30% raise for switching jobs. lol
I’m getting a 40% raise
Stating my new role next week 😅
I'm getting a 50% raise.
Nice, I'm getting a 60% raise
@@NPKTM Believe it or not, I'm getting a 70% raise.
@@Bossman.official congratulations 🎉
No need to overthink this: just learn everything that you can about the role and leave whenever you're ready.
95% of US workers said they plan to look for a new job in 2024? That is an absolutely insane stat. Like, completely mindboggling. Enough to assume that it's probably not even remotely accurate
They probably used a very broad set of options which amounted to "I plan on looking at other job postings", "I plan on seeing competitor's salaries", "I would like to earn more money", etc. with only one option for "I plan on staying where I'm at" as the "No" response to "do you plan on looking for a new job in 2024?"
I’m a part of the 5%.
They also seemed surprised that entry age workers don’t stick around at their job flipping burgers than older ages. I always question mainstream media data.
Yeah, I was looking for this comment. When I hear a radical number like that I tend to distrust everything that comes after. If you're exaggerating that key data point, your insights are not all that insightful. I'm open to it being true, but would need to see the study in depth and additional supporting studies from other sources.
Especially since likely none of us watching this video took this survey in any way shape or form 😂
I went from just under 42k as a high school teacher in 2021 to 55k in my first assistant professor position. A year later (2022), I moved to a research university, making 65k. In 2023, we got a raise that put me at just over 68k. We're getting another that will put me over 70k in Fall 2024. So, in 3 years, my full-time income increased by approximately 30k. With my other remote teaching gigs, I make well over 100k. I don't regret job hopping!
Teaching is awesome! I'm an adjunct myself on the side and it's one of the most easygoing, satisfying jobs I've ever had, and pretty good pay.
What do you teach? Did you get a PhD when you got your first assistant professor position?
Wow. Which state? $65,000 for a university professor is not too much. You can make that amount working a blue collar job at a younger age. Trying to become a teacher was my biggest mistake in life. It made me fall behind in life, career, and finance. I work now in tech making 68k and the job did not require a degree nor much experience.
Unfortunately teachers don't make a lot, very underappreciated. Speaking as someone who teaches preschoolers. The mental toll is not worth the 20 bucks an hour. @@jacqueslee2592
My dear switch to the industry you will make way more
Thought about applying for another company coz my current one doesnt pay that high but the benefit of WFH, relatively stress-free work, flexible hours, take time off anytime and change schedules anytime really made me stay. Valued the flexibility over the money since i have a baby.
Definitely, I currently value flexibility over salary. I also love the type of work I do since I mastered it to perfection which makes it easier.
I stayed at my first employer for 20 years. It was hard walking away from a $100k+ engineering salary and six weeks PTO in a low cost state. Oh and a Pension as well.
But when I realized our net worth was $2.5 million at age 43 and we lived a simple life below our means...I convinced myself money wasn't everything and time to do a career change.
Now making 50% less but super low stress and the net worth is actually $4.7 million now.
No more commute or pointless meetings actually came with this new job. Nothing beats using your own bathroom and kitchen on the clock. I spent more time around my kids during their high school years and finally was able to see them come home from school after all these years which was pretty important to me as a parent. Make them a snack, ask them about their day, etc.
Life is pretty easy and relaxing now in my mid-40's....I quickly fall asleep at night and no longer think about work outside of work hours..... sometimes even on the clock I don't think about work.
You just have to find a way to reach a point to convince yourself money and title isn't everything.
Exactly. It’s the investments and lifestyle you make that really give you the wealth. Not the constant salary hunting and trying to outcompete others on interviews by brute forcing technical exams.
@@leonchen89For me, once I saw the gains from investments shadowing our earned income (as well as the dips) I saw my job and working for money differently.
This is a blessing and a curse not going to lie. It became harder sitting in pointless meetings!
Word. What kind of job still gave you a pension in engineering?
@@sunsetat9 Big Aerospace Company currently in the news for safety -- Can you take a guess based on this clue?
If you work for certain State or Federal jobs you can still get a pension today.
What are you doing for work now?
It takes a significant amount of effort to rotate to another role and learn the aspects of company and job functions. I think/feel the older you get, the desire to constantly hop becomes burdensome. Tenure can create experience and expertise, which many employers do want.
Very fascinating, because a lot of this is pretty true. One thing to note, is certain company have age preference too surprisingly. Example: Company (A) might prefer older individuals, because of maturity and commitment. While company (B) might prefer younger folks, because of lower pay and the welcome of new ideas. It's all a part of the culture, structure, and innovation. This is only a small part of the overall.💯
Unfortunately, this video is irrelevant. There are many people out there applying for hundreds of jobs all the time and not even getting an interview so it’s not that easy just looking for another job.
Exactly, nobody has an answer to this, but they’ll sell your résumé services for 1000 bucks
@@joesmith-th3jq That’s exactly it, there’s lots of ghost jobs being posted online. It sucks because when you apply for the job, you end up not getting a call back. Instead you get an automated email saying that they found another candidate for the job listed.
Any suggestions?
I felt this way in the past but what worked for me was this:
I stop applying for jobs on rat race websites like indeed.
I invested time in building my LinkedIn and resume.
I reached out to recruiters and recruitment companies to apply for me.
My current company and previous company were high paying jobs and had no postings on major sites. Both were private companies.
Please don’t get discouraged… keep digging until you reach goal. Trust me.
Depends where you're at in life. Linked In is definitely useful to build yourself up and put yourself out there to recruiters
The mistake I see people make the most when trying to get a new job is not negotiating their new salary. Don’t be afraid to counteroffer.
Especially if you have a job currently. I made that mistake before, but this time gave a counter and they accepted.
Yeah I considered this but also I considered that since this was my first position in the industry I am in, I didn't have any leverage or direct experience. Now after a year and a half, I'm way more experienced then when I first started, the only reason I haven't started applying for other positions is because I want to get some certifications under my belt before I leave.
Thanks for the insight, could you perhaps share how do you exactly counteroffer that does not put you into a position of possible offer rejection?
That lady is giving great advice. Build your skill set before worrying about pay
My bills are due now. It's more than "worrying about pay", it's survival. Building your skill set over survival is unattainable.
Exactly!
Yeah, I liked her attitude. She believes in personal growth without hating on any company.
Payment has very little to do with skills
I work from home doing graphic design and make around 75K a year and sometimes work gets slow so I get to take care of household chores. My boss is also super nice. I don't see why I would want to leave and risk getting a job that affects my stress, health, happiness, for a bit more money. I even moved to GA where the cost of living is lower and can live anywhere in the country I choose.
Not said here but for people without college degrees in good paying positions be very careful if you move from something that pays well it can be hard to move back employers still put a fair amount of weight on college degrees. I Really had to bust my hump in the interview to get a good paying white collar career.
Well that's why you should negotiate well with your next job before you move.
@@PsyQoBoyI meant more from the perspective of switching careers without a degree it's a bigger gamble for those of us without degrees. I can't easily switch from the career path I'm on because I don't have the backing of a degree.
Same goes for jobs that usually require a masters. It can be difficult to compete with just your work experience against those that have a masters when you're looking to switch.
@CautionBarrier how a degree competes with actual experience, I'll never know.
This! This is the very reason ive been at my job over a decade 😢
90% of organizations are worried about employmee retention? Maybe they should give their current employees raises on par with the rates they pay new employees then...
Zip Recruiter is filled with fake or old job postings, I am stunned you had referenced this
if you're asking how long you should stay at your job, the answer would be to leave immediately.
when they gave 2.5-3.5% every year even with good performance, no wonder people leaving left and right. Effectively making less when the inflation.
Work two years to learn/master the first principles of the job and then dip.
In 8 years I went from a yearly salary of $20k in 2019, $52k in 2020, $58k in 2021, and now I’m at $100k. I’m actually searching again and my new goal is $145k.
Damn 😳 which industry do you work in?
Onlyfans?
I made $19K as a receptionist in 1991. You cannot have lived on that.
I’ll also change job for a pay raise. Loyalty to the dollar. At the end of the day I need that money. If I’m gonna grind in this 9-5 work culture, might as well grind for a better pay
Do we consider only switching companies as job switch or also switching position within the same company? It can be someone works in 10 different positions at the same company, and someone else works at 10 different companies but always in 1 position. Does the first example come into the job switching statistics?
13 years ago i moved from Portugal to Switzerland. Got a job in watch making industry.They told me that i could work there until my retirement,and honestly i'm trying my best too do soo! Only 25 more years 😅😊
If you like it and you're being treated fairly. It's a win-win situation.
@@mr.castle i concur
In my experience, when working for someone else, e.g. not self-employed, there are two constants. One, you cannot get rich working for someone else. Two, you're expendable, e.g. the employer can let you go at any time. My advice for job hoppers is to be loyal only to the mighty buck. Find the job where you get paid the most amount of salary with the least amount of work and the least amount of stress.
Amen to this.
You need to job hop to find that dream job, don't you ? 😅
@@winwinwin282828 Nobody is saying the contrary. Duh! 🤦♂
Says the Economic Guru who's working for a poor boss!
You can get rich slowly be saving the majority of your pay. You're right generally that owning a business is the only way to really generate a lot of money.
I was hired in 1994 and would like to stay 7 more years and retire. I'm a mental health crisis counselor with a hospital system and I've been offered jobs with other systems but the pay and benefits are about the same. I enjoy my work, I'm paid enough, so I have little incentive to change.
😑jobs will drop you in a heart beat…always always have a back up…widen your experience to grow your self valuable and keep yourself knowledgeable in the job market but to be honest aspire to be your own boss 😊
Wise words
If you work in tech, you MUST job hob every 18 months, unless you have one of those stock option RSU thing, then stay until your stock options are vested. Don't get stuck at a company for too long, no matter how nice the income is or the prestige of the company you work for. You are all replaceable and you gotta leave them before they leave you
im going to upvote this comment
Yes, half of the job is not doing real work but training on how to pass interview exams. I learnt this the hard way after getting laid off working for the same company for 3 years.
Yes pay attention to your sock options. Sometimes low cut is more comfortable, other times knee high is the way to go.
@@soapa4279 HAha, fine I changed it
I.T. people just arent fun to be around, its a bad career choice all around..
I’m going to be as honest as possible. If you’re not planning on making that job a career long term less than 2 years and switch jobs. The reason I say that is because you don’t want to get too comfortable in a job that you cannot live with the rest of your life making that crappy salary. Although I’m positive with rent increases everyone has at least two jobs. Which is good, you gotta do what you gotta do to pay your rent but career wise never get to comfortable unless you plan on staying there trust me.
Two jobs are not always good for me nothing is more essential than being well. You won't be able to move around to buy anything or engage in any activity if your health isn't good, regardless of rising prices. In addition, working longer hours means spending a lot of time with toxic coworkers, which is stressful at work and bad for one's mental health. Then, imagine this: if you spend several hours performing a bodily hazardous job, guess what? In other ways, it damages the body and increases stress. Starting a side hustle or investing that's not stressful is the best course of action if the person needs that extra money.
I'm DCAing in Blcktken300 as well. ETH heavier DCA and ALGO. I'm taking your advice and starting Google tomorrow with a 50 dollar purchase and continuing Microsoft and Apple. VTI and VOO on another app and longterm portfolio. Here we go family!
Stayed 20 years in the USAF - best decision I’ve ever made to retire in 2017 at 38 years young with the ability to start a second career working remotely from home 🏠🙏🏾🙏🏾🙏🏾🙏🏾🙏🏾
I think you have to do what’s best for you and your future. What you want from your career and what you expect from a company will play a key part in staying long term or leaving in the short term. But I still believe there are small number of companies that value you and your work as an employee and will treat you with respect and reward you with appreciation and higher compensation.
Personally I’m staying at my job only until I have the resources to go back to being self employed. I hate everything about being a w2 employee.
I always wondered why i ended up changing places of work around 2-3 year mark
Jump early in your career, and ease back and off as you grow older.
Like the video said, the majority of Senior Levels are the Veterans at that company.
I waited for that promotion in 3 years just to find out I was being terminated. Leave as soon as possible. It’s a business, and you’re just a number to the employers. They will eat their young just to be profitable.
Thank you to you CNBC, for coming out with a video like this...which matters to a lot people nowadays who are in dilemma when they are announced that they will be laid off etc..best 12 minutes watching the content and experiences ahared by different people and the acute statistical info and analysis presented as well..kudos keep doing this 👍
The most important point is missed: immigration status. If you are a US citizen or a lawful permanent resident, you can hop as many times as you want. But legal immigrants are not following this pattern. Once a company sponsors you for H1B or a green card, you are on the hook for the next 3-4 years or even decades. Every career change is a well-planned venture because the risk is high, especially during layoffs. You are given only 60 days to find another job or must leave the country. For people with families, mortgages, kids at schools and other assets/liabilities, this is insane. No one talks about this modern form of unfreedom, but many people I know who went through this immigration hell are great managers and leaders. Grit is what makes them great.
If you don't know what you are doing in your new job, congratulations, you have found a job that is challenging and the next step up. When you fully know every facet of the job and it becomes tedious, it is here where you should consider asking for a promotion, or try switching companies or agencies if you work in government.
Been loyal to a company for 1.5 years putting in extra effort on weekends and working long hours as it was my first company and they even did training.
Got laid off at end of jan. The worst part is that people who don't work at all are still working there.
Still looking for job and decided to not give a damn to a company from now on.
That’s right people tend to love sycophants than Brutal truth tellers employees
Loyal for 1.5 years ? Lol so you supposed to stay only for a few months in a job ?
@winwinwin282828 if I wasn't laid off I would have stayed there lot longer, and during the 1.5years I didn't have a single thought of leaving for a better place even though some left as soon as they completed training for 50% hike.
skill acquisition with wide exposure in my 20s, seek upward mobility, pay increases, and multiple streams of revenue in 30s, develop dependable repeatable automatable processes for personal/work growth in my 40s. Do jobs that fulfill me in 50s and Retire by 60. I started this in my teens so I shifted all this the left by 5 yrs.
I just reviewed resumes a few days ago! I get people will change jobs, but I can say that I won't be hiring someone who has had a new job every 3 months. I don't need a blood oath commitment, but I don't want to have to hire and train a new person to replace you in 3 -5 months.
3 months is a long time to stay at one job.
When salary adjustments are less than inflation uear after year after year, its tough to maintain loyalty. Esp when loyalty is not reciprocal.
Don’t stay loyal to a corporation that isn’t loyal to you.
You need to use your employer, the same way they use you. I’ve worked at 4 large organizations over my working decade post graduation. I’ve received better hours, better commutes, increased pay, tuition reimbursement, 401k matches that rolled over, and pension style accounts that I got to keep. You need to look at the entire compensation package and evaluate it regularly to determine if this is the right place to continue working
I love the part where she says a job hopper might miss out on a promotion opportunity while also admitting that companies don’t promote often enough, often once a year or once every couple years. No employee who is highly skilled is going to wait for a promotion when they can just get a new job with that same promotion job title/role
Being laid off is the best. A severance package and time to unwind from a stressful job was just when I needed after my last two positions where I wash just not enjoying it anymore. I qualified for unemployment too, so I wasn't really stressed out while I was in between jobs.
As a 35yo millennial, I do value loyalty, but I've learned about the importance of moving on when necessary. Always have that resume/portfolio updated, your network close, LinkedIn active, and skills sharpened.
Waiting to get laid off is not always gonna be the best bet, so setting yourself up for success by being prepared for the next great opportunity is crucial.
I’m 35 years old and have been in cybersecurity for the last 15 years. The current job market is the worst I’ve ever experienced in my life.
And yet, so many are switching jobs. What gives?
I usually try to stay at least a year or two at a job. Though with the current job I have I'm actually planning to stay for a few years at least. They have really good pay, amazing benefits, and they actually care about their workers because they are financially incentivized to as they are employee owned.
@2:37 yes, higher pay isn't the only thing that would make me happier. But it's far more important than the other things he listed and throughout this video. I'd rather make $100K and have terrible coworkers than make $50K and work with best friends.
Depends how long you've you're willing to put up with terrible co-workers. Eventually, you end up being terrible like them or become their victim.
If co-workers are constantly trying to throw you under the bus, then you might not have the 100k job very long. If you can happily make 50k without fear of losing your job, it's possible that the consistent paycheck would end up allowing you to have earned more money than constantly losing your job due to crappy work envrionments.
Maybe I’m an “older” generation, but when I’m reviewing resumes I look at the frequency of job switching to determine if this person is worth spending time and money on to train them for the job. I can overlook switching after a short timeframe, but not if it’s consistently happening. I prefer to see candidates with a 3-4 year window at their former positions. If you’re jumping within a year frequently, there’s a good chance they you were fired or let go because you weren’t a good fit.
Not necessarily. I worked about 3 years in my first job out of college and then only worked 16 months in my last job. I am now somewhere else because it was a much better opportunity for life and family purposes and is now a place I’d like to build a foundation with. Not everyone who has frequent job hopping is because they were fired or shows lack of work ethic. I believe you have to look at the whole picture and figure out how that maybe something was happening with their personal life with family or something during those years. Your offer might be the offer they are seeking to give your company a major 10 years because that’s where they want to start their foundation. There are a lot of bad company cultures and managers so some people are moving around because perhaps the people that work there are absolutely terrible to work around. I do understand where you’re coming from though, just kind of a side thought on how we do need to look at people as people too.
At the same time, everyone is pretending to be a company. If a company gives another company a bad deal, there is then no further business. People are perfectly willing to just take their business elsewhere at the drop of a dime
@@tmi4507 Employers don't GAF about employee's personal lives.
And that's why you should not be in a position of reviewing resumes. Like everything... it's not what you know but whom you know.
@@tmi4507 - All valid points and I try my best to give someone the benefit of the doubt. If the person is just starting their career often they are switching jobs more often to figure out what they want to do. It’s still important as a manager to determine what they are looking for from our company. If what we want from them aligns with their career goals, then there’s a better chance they’ll stick around.
It isn't that easy to job hop. There's so many other factors to consider: industry you're in and its growth potential, region where you live, your current living situation and/or personal support network. I'm sure there's more to consider.
I left jobs for a non-lateral move (to a supervisory role) with a significant pay increase. And I'm preparing to resign after just 6 months any day now but not due to compensation or career growth. Im just utterly disappointed in the workplace culture, lack of motivation across my colleagues to want to improve things, that I don't want to waste my time trying to steer their ship if no one shares in those aspirations.
I started as a QA Tech with my current company making 27/hr and worked for a year. I then moved into a salaried position as a supervisor and then into an analyst role working for corporate HQ. Went from 57k to 87k all within 3 years total! It definitely helps to move around. Now I’m looking to change companies and will make even more!
I increased my income from 38k to 75k by switching jobs from a company who refused to promote me after 4 years being with them. Always keep looking for better paying jobs every 1-2 years if you aren't satisfied with your work.
Best advice I ever received was don't have loyalty to a company because they will not remain loyal to you in the downtimes. I avoided being laid off recently by leaving and gaining a better job
No pension, no loyalty.
The real key? Put as much away as you possibly can into a retirement fund, hopefully matched by your employer and do as much as they will match. Often 10% of your income. Also in addition, put some into their stock plan if they seem like a good investment. You may be able to buy discounted stocks. You will be surprised how it builds up. I went from in-debt to retirement in about eight years by socking as much as I could away. I'm older but the job was average-ish pay. Not in the hundred thousands, but I managed to save enough in that time to stop working by being careful how I spent and investing in my future. That beats job hopping any day!
Why not do both if it's possible?
@@KP-xi4bj you can of course, but it may get messy with separate 401ks and stocks strewn around. If it gets you more money, it's probably worth it, but you may lose desirability to an employer if you job hop regularly.
@@kenmore01 The loyalty should be to the dollar and not the employer. In my experience, the employers "care" about you on the surface. However, deep down you know that you're expendable.
@@KP-xi4bj Oh, I know it! My employer canned me as quickly as looking at me last year over a minor thing. This after eight years loyal service. The very day, pay stopped as well as all benefits (insurance.) Believe me, I have NO loyalty to any employer after that once they say the magic words "at will employment " notice etc are our the window!
Employers are absolutely not human, especially in small, founder-run, private companies. They want you to stay, but don’t give you the “culture” or pay that would actually make employees want to stay. There is all of this data that revolves around employee retention and whatnot, but really the only thing that matters to the individual is earning enough to be happy, and not hating their job. That’s it.
Is anybody "human" these days?
@@user-by3nd4rm6c Every single person is a human.
Unless you're trying to set Fascist standards that aren't valid to Biology.
@@lococomrade3488 It was a rhetorical question
@@user-by3nd4rm6c Yeah, Fascist rhetoric. That's what I said. 🤷🏻♂️
And ofc. Fascists always use NewSpeak and Double Speak. It's how you creeps can pretend to not mean what your dog whistles imply.
I had 4 jobs in 4 years and double salary. I say move around, your loyalty is to yourself and no one!
I accepted a 40% wage cut and switched job for visa support. Sucks to be a visa slave!
What was your plan, though??
@videostoviews2262 After getting a green card, probably gonna work for a private jet or airline.
There are some opposite examples too. In my case, I’ve learnt that I’m underpaid compared to the market and even compared to my peers in the team. I’ve gathered data of average salaries for my role in other companies and presented it to my manager. She took it seriously, went to HR and finance to try to secure and ad-hoc salary increase. Sometimes if you like your job it’s worth having that serious conversation with your manager instead of immediately start looking for a new role when you are unhappy with your pay. Too many people would just avoid the conversation which I think is a mistake.
"Finding out what the opportunities are within your company involves an uncomfortable conversation with your manager."
This is the kind of conversation that you should be having regularly with your manager! Get comfortable with uncomfortable conversations! Expressing your desires for growth should lead any good manager to open doors for you and coach you to help you succeed!
In my experience, I’ve seen many people job hop to chase higher salaries. But they failed to understand how this works. For example, an employee job hops for higher salary. That person gets the bump they sought but end up at the bottom of the new salary grade. They’re typically overlooked their first year since they just hired on. Then they’re learning the new job so their second year gets a minimal raise. Meanwhile, their counterparts are advancing in their old company. Bottom line - talent is recognized and promoted. People without valued talent think too highly of themselves and are prioritizing new employment over focusing on getting better at their work. This will be a painful lesson when (and inevitably) a staff reduction occurs. Newer employees haven’t established networking to save themselves.
Just swapped all of my last ETH and swapped it into Blcktken300 . Already up a little bit. Unfortunately I have some other junk staked which won’t free up for a while. Still now I am on the train!
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I was bummed out when i got let go from Covid as it was not a thought in my mind to look for another job, then everything changed when my next job was a huge increase. Since then i switched jobs 3 times and doubled salary with huge jumps each time.. long story short dont get too complacent on one job u can potentially earn much more.. again reaserch the company and make sure u make the right move and not just for the money
I've changed jobs 4 times in 7 years. I'm now making more than 4x of job #1. Granted, that job was underpaid but still.
I have been at job #4 for 18 months and I really like it there which is important imo. I'm also not sure I could even make much more if I did hop again.
Depends on many factors: is it the career you want? Are you getting raises, career mobility? Flexibility? That all needs to be factored in. But off top 3-4 is long enough for one position. It used to be 3-5 but today it could even be 2-3.
Intended viewers are professionals, correct? Does this apply to warehouse workers, cashiers, sales associates, fast food employees, customer service reps, etc?
Also, if a person working in jobs like that has 3 jobs in 2 years, how detrimental would this be? I would think it's not looked upon favorably, even if each job was higher paying than the one before.
Yes it's for desk jockeys, not real workers.
@@heinousanus9352 ❤️
Exactly its for the desk ppl
There are a ton of things that go into leaving your position. Sure, I could go to another job and make more money on the hour, but there are things I would sacrifice, like work flexibility, M-F and home before 4:30, good PTO accrual, free birthday holiday off, 17 paid holidays a year per the state holiday schedule, state retirement programs, paid conferences/CEUs/work trips, etc. I always make a pros and cons list, but also take into account what that shift would mean for my family.
Many employers don’t want to pay workers with more than 10+ years of experience… they would rather pay 2 heads for one
Yes… suddenly realised when you have more experience they don’t want you.
I just wanted to say thank you for your helpful tips. I tried them out and managed to get 8 out of 10 - a significant improvement for me.
A good video highlighting all the aspects for jon switch.
One thing that was not mentioned was that after a switch, the increment, bonus, stock options and other perks are minimal for that year. So, when one switches jobs, they need to make sure that they are making more money with the switch than if they stayed in the same company after a couple of year. This is even more important because its highly unlikely that you will land on a hotshot project immediately after you join a new company (unless you are a strategic hire). So, there is a high possibility that your learning may be stagnanted for some time in the new company.
The problem is if they look at your resume and know you are a job hopper, they probably wont hire you or may ask you why you switch job early excluding layoff.
Don’t add every job
Studies and experiences will define what I'll do for living. Be part of a team and then keep up for get through tasks and objectives is what I like to do. Relations enables to arrive at the finish line.
As a hiring manager, I definitely see this. However I really struggle when candidates are asking for 10%+ when making lateral moves. There's so much discourse and advice about job hopping for a raise, but neglects to mention there's real salary caps on some careers.
Gotta increase them salary caps dawg. Ain't nobody tryin to eat ramen out here.
What's a lateral move? You always have more experience than the last time you switched jobs.
Gen X here. I have been an engineer for a big local government entity for the last 34 years moving from one department to the next. I will be retiring this year with a pension that pays 72% of my current income for life with COLA. When I die my spouse gets 50% of my pension for life with COLA. So think "strategically" about how long you want to STAY on your job.
Really great video. Be brutally honest with your skillet. Assess what skills your industry is interested in, review job openings that interest you and acquire the skills mentioned in the preferred experience section. Find that thing you can be a subject matter expect (SME) at.
I joined my current employer exactly 4 years ago. I have not left because my compensation has completely skyrocketed within the same company. I think staying in the same employer is positive if you are actually getting the right conditions.
I have been with a Fortune 500 company for 10 years. Haven't seen much growth, and my salary has been stagnant.
I have been applying for other jobs, no interview but got one and start in a month. I feel like I'm having an affair. I'm holding my 10 year job by going on a leave of absence so I could try this new one which pays $15,000 more a year.
I plan to work both eventually until I feel the new job is a fit for me. But everything said in this video resonates with me:
- Career Advancement
- Higher Pay
- Toxic Environment
- Better Benefits
Get into contracting! You work 6-12 months for one company and then go work another 6-12 months for another company yet you’ll make more money everytime you switch because you’re increasing your skillset at a faster pace. A lot of staffing agencies offer 401k and insurance. Just keep rolling it over into your own retirement account. The goal is keep pushing for more money!
You make more money in the corporate world than
@6:08 I have to disagree with this sentiment. At this age (30-35) you're most likely beginning to hone your executive skills which in a lot of cases requires a move elsewhere (typically recruited) to step up to the next level. Ultimately, if you play your cards right, you'll reach your employment goal & find a company worth fighting for...typically in your late 40's/early 50's. Also, when presenting a resume with many past employers, they should reflect a period of growth at each opportunity, otherwise new companies won't even look at you or invest in your personal growth in-fear of you just getting bored and moving-on.
I'm stuck at my company for 8 years... I've applied for many job posting, but no luck.
Plot twist: you stay at your current job then get another remote job. 120% extra revenue has been achieved.
I wonder what the study shows for percent of people laid off that are "new" at the company versus those who have been there longer. Is the difference significant.
Great video. We are all seeking for financial independence and a better way of life. This is not difficult to achieve with savvy investing, a frugal lifestyle, and cautious budgeting. I'm glad I learned early on to work hard for financial independence with the help of my FA Anna Rounds Fay. As Warren Buffet said, he has seen this happen many times in his life. Not an investor, My wife and i never earned more than a middle class salary. We plan to get retired at 58 with a stock portfolio worth $1.7M. We have never sold so much as one share of stock.
People don't really know this, You need to create your own process, manage risk and stick to the plan, through thick or thin while also continuously learning from mistakes and improving.
Thanks for sharing, I just looked her up on the web and I would say she really has an impressive background in investing. I will write her an e-mail shortly.
It was easy to find your handler, She seems very proficient and flexible. I just reached out to her through her web.
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