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Of course not. You shouldn't be following one-size-fits-all advice with regards to your career. Job hopping is theoretically the best way to increase TC. Doesn't mean it holds true or makes sense for anyone. If you're at a stable company with good pay, benefits, and WLB, throwing it all away to chase more money isn't always the best call, just as staying put isn't either. Context matters - what you're doing, what your goals are, where you're at in life, your career, etc.
Chief
Congrats! I’m due in September for my first baby and I relate to that feeling on LinkedIn. I had even done two rounds with one company who is local but I wasn’t in the mood to deal with the new job stress
It may not apply in every case, but it has certainly been my experience. I’ve job-hopped every couple of years to earn more money. I’ve found that most companies don’t value retention and certainly don’t reward it, so switching jobs has always been the best way for me to advance.
Chief
Appreciate the take!
for the average person, yes. but if you are the right person at the right place it might be better to stay. I think hopping after 12-18months for the first job is almost always the eight choice. but once you hit that mid-level, it might be better to stick around and get promoted to Sr/management/architect.
Chief
I agree on the right person right place comment. It could not work for a lot of prime but somehow it works for you
I’d aim for maximizing total lifetime earnings - that is what will increase total earned income throughout your working years. There’s definitely some xfactors like employer name brand recognition. But I never considered benefits because you can buy an à la carte benefits package through a plan broker that is cheaper and better than a standard employee package.
Chief
And the situation you are in with your current employment. Well said!
It can work but isn’t the only possible path. I’ve been with my company for over a decade and have moved from SW engineer to my current position during that time. Have also more than tripled my salary and quadrupled my total income over that time.
Chief
You should be so proud!
It worked for me.
Chief
If you’re open to it I’d love to hear how it materialized for you. How many job hops and for how much of a jump in salary
Switching jobs can involve extreme opportunity costs. Relocation once cost me close to $60,000 just in real estate expenses, and that's not counting moving costs or any of the hidden expenses involved. Attempts to change jobs within my market/location have resulted in nothing better than lateral moves. Other people seem to have great luck increasing their wages with job changes but I don't have that experience at all.
Chief
I really appreciate the real life anecdote. Very often it’s about where you’re located and life circumstances related to that
Coming from someone who entered the field unexpectedly at the age of 40, in the last ~25 years I've tripped my way up the ladder in tech without a tech degree by job/contract hopping. Now I'm a lead cybersecurity analyst with deep and broad experience in general IT. Changing jobs every ~2 years I think I did better than okay. I make far more than most. And my friends and family are shocked by my success.
Chief
Good for you! You gotta do what’s best for you and in your circumstance it makes more sense to try to accelerate the growth