Is this still true? I'm a little bit of a chicken when it comes to quitting. I've been at my current company in the same position since 2018. Am I hurting my ability to make more money because I'm staying in one place too long? I'm not sure how you can tell it's time to move on in the first place.

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If you're happy in your current job there's nothing wrong with that. It's a fact, however, that the way most people get a raise is to move on to another organization. Companies typically pay new arrivals more than long-term employees are earning. It's partly because people get taken for granted by staying at a company, and partly because it's how companies attract new blood.

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This is true. However, if you're in the US, right now the job market is really tough. So you would want to make super sure that you are being very discreet while looking for something else (so you don't see yourself being let go), and that the new job you go to is 100% a sure thing, that the company is solid (not going to do layoffs in a year or two - you'd really be kicking yourself then), that the environment is not toxic, and that you mesh with the people you'll be working with. It took me 10 months to find another job after my layoff at the end of 2022, and I have a diploma from a great school and lots of experience (my networking stank, though). And it is taking some others upwards of a year to find a role at the moment. So be really, really sure that it is a good fit before you move from a role where you are doing OK right now given the current economic context (which is getting worse).

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I think this used to be the case until recently. But now it's harder to find a job to hop into. A lot of people who used to hop regularly are now staying tight because of insecurity and instability.

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Definitely shop around and see if your current pay is in line with the market. I have definitely seen that loyalty to a company doesn't pay anything so you should do what's best for you.

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It seems less and less true these days

It might have been a few years ago. I don't know if it holds true today. With the job market being what it is currently, aka hot garbage, I think there's merit to sticking around. Partly for the pay, partly for the lack of better options.

In theory yes, although with the current job market being such a dumpster fire...can't read the rest of the comment but yes, if your base salary is higher at each job you hop to, and yearly raises are a percentage of the salary. You're leaving money on the table unless your employer has a wildly generous salary/raise scheme. This also says nothing about retirement saving and matching but same there, also a percentage of salary. I kick myself every day when I think of how much money I left on the table by staying at one company too long. That said, in this climate if you don't hate your job and the salary is enough I'd be less tempted to hop.

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