Promotion vs Job Hopping

Is it always worth moving to another role just for more money?

Reasons to stay loyal

64% of professionals think that changing roles every few years is helpful however 44% of bosses are not likely to hire people who job hop. Employers may worry about your loyalty or that you only stick around long enough to learn what you want and then leave, which is expensive for them. If you love your company, a promotion will give you the best of both worlds: you’ll be able to stay where you are and progress at the same time. When you’re a long-term Employee, you may also have special perks or benefits. This could range from annual pay bonuses to additional time off and maternity or paternity leave. For many people, outside circumstances, such as having a family or being a primary carer can change the way they look at their career and, therefore, security becomes a key factor.

Reasons to job hop

Staying at the same company for over two years will mean you earn less over your lifetime. When you stay at your current job, you’ll get a 4% pay increase however when you switch jobs, you’ll likely receive a 5.3% salary increase. This is mainly because organisations generally spend more on attracting talent, than they do retaining it, and it is easier to negotiate a salary with people you don’t know. 39% of employers admit to awarding promotion without an extra financial incentive which would make it much more attractive to change jobs. Job-hoppers gain more than another entry on their resume. They also gain new skills that are often valuable to and sought out by employers.