The average promotion pay increase: 5% The average job move pay increase: 15% If you got a 5% pay rise every year through your twenties, a £24,000 starting salary would be £39k by the time you’re 30. If you instead managed to change jobs every year, that same £24,000 would be *£97,000*. And people are confused by the trend of young people regularly changing jobs?
People move with money!!! Millennials and Gen Z care about their well being over the companies well being - as they should. To quote the queen Bey herself 'they could have another you in a minute' - don't kill yourself for a company that would replace you in a heartbeat. Start paying people what they're worth and they won't leave.
This is a ridiculously flawed post 😂 so much so I can’t believe nearly 2000 people have liked it
I was this person! Early in my career I moved jobs every 12-18 months, consistently getting £3-4k increases each time, and gaining insights into a lot of different industries. I would never judge anyone for having a job-hopping CV. It makes complete sense when you're trying to save up to buy a house - you can't pay a house deposit with "free fruit and pizza Fridays"!
In My oberservations of people regualrly moving jobs (every 2 or 3 years) its often down to them getting "rumbled" over their incompetance. Somehow they have the gift of the gab and a well constructed CV to get through the interview process and spend the first year learning the ropes during the second year it becomes clear they are not up to the task and get noticed as such and by the time the third year comes along theyve moved on to do it all again. Or they get moved along within the same company to get them out of the way which is often a move upwards because its hard to move someone down without extensive evidence and justification. Call me a synic i dont mind its just what i've seen in my 15 years at my current employer.
Can everyone also stop shaming the younger generation for having a work life balance? Sorry that Gen X were worked like donkey's and now are all completely burnt out and cannot enjoy their own retirement. I will not be working from dusk until dawn on a salary that is not sufficient to survive in this economy. Jumping to a company that appreciates and VALUES your work is not a downfall, working until your dead for a crap employer and earning min wage is.
This post is a little misleading in terms of what can be achieved in that space of time. The average UK salary is £33k. A salary of £97k puts you in the top 4% of earners in the UK. Realistically, a very small percentage of people are capable of going from £24k to £97k in 10 years, and if they do, fair play to them but it's highly unlikely - unless you are super talented and don't have a good work/life balance.
It is extremely rare to find people with a job move every 12 months who manage to maintain consistent wage increases indefinitely. Salary is generally tied to skillset and skillset is almost always developed in-house. Nothing wrong with a sideways move for more money but at some point you need to put down some roots so you can get promotions. By doing so you will move in to roles that you are fundamentally unqualified for but your consistent contribution to an employer has been recognised and rewarded with career opportunities and promotions. If you keep moving every year, you are never around long enough to build that credit score.
You cannot learn enough in 1 year in a company to be able to give confidence to an employer that that 1 year stint actually gives you 1 years experience. You'll spend 6 months learning the industry and really understanding the role you do. When I see CV's of people that have 1 years experience in a role and they talk about the amount of things they delivered in that 1 year the reality is I often don't believe that they delivered it or the "team delivered" or they happened to take over something with momentum. They can't have in such a short space of time. Not good advice - also the person who gets £39k by age 30 often will not have the skills/ knowledge to get a £97k role elsewhere. Such an unrealistic view of how the world works. Your 20's are about doing the things which build up your experience and knowledge that will underpin the rest of your career and a load of 1 year stints will not cut it. Not saying you have have 1 job for 10 years but you need to properly invest your time so the skills and knowledge you build up are actually valuable to someone.
This is about as much a fairly tale as the bible though... Realistically, in the UK especially, pay rises are not given each year in the majority of businesses and if they are they are closer to 2%. Moving jobs typically happens every 2-3 years and is usually less than 10% increase, sometimes the move yields no increase to side step for an increase on the next move or because the job didn't "fit". So I understand the sentiment but the real life example is very different. I think there is something in the market where businesses should understand an employees "value" better utilising the external market to understand how much it would cost both in recruitment fees and salary to hire a replacement and use that as a gauge to pay employees fairly or show appreciate for employees better when profits are high or improving. Its a tough one and not everyone deserves the increases due to work ethic etc might be poor but if proper performance reviews are done then you should be fine with it.
Director of Technology at Saber Interactive Porto
4moI always tell my graduates to do the math. If your company doesn’t give you an annual raise that meets, or exceeds, the inflation rate of your country during your annual review process it’s time to go. It indicates that the company is paying you less this year for the same job. It indicates that the company managment don’t understand basic finances, or does and are actively cheating you. It indicates that the company is going to continually fail you over time.