You Could Loose Money Staying At Your Job Too Long
If you’ve been with your employer for several years, chances are, you’re not getting anywhere. The key to financial success, get a job, EVERY TWO YEARS!
There’s a new study from “Forbes” that says that people who stay at the same job for a long period of time make up to 50% LESS in their lifetimes than people who switch jobs every two years or so, but why?
According to this, the main reason is that staying at your current employment for too long won’t make you any money. Sure you may get a little raise here and there, but those raises barely help you keep up with inflation, and with the price of EVERYTHING going up, you could find yourself in more of a struggle.
The average cost of inflation is 2.1%, while the average raise for 2014 is usually around 3%. That means you’re actually only getting a 1% raise. However, if you’re planning on moving to another job, usually they’re offering you more than the 3% salary increase than your current employer, so if you jump from job to job, chances are you’re jumping to a bigger salary, thus making more money.
The problem I see with this study right off the bat is, how many jobs are actually out there for you to jump to? And if you’re having to jump to a job in another state, and they don’t pay for your moving expenses, you could actually be LOOSING money. I would also think an employer who sees a history of job hopping on a resume, might not be as apt to hire someone who's prone to moving from job to job every 2 years.
How do you feel about this study, have you jumped from one job to the next within the last two years and if so, did it make you any more money?