Is Job Hopping Worth It Anymore

Job switching shows limited financial benefits, with recent data indicating narrowing salary growth for both job stayers and switchers. Federal data reveals that salaries for employees who remained in their positions increased by 4.6% in early 2025, while those who switched jobs saw a slight rise of 4.8%. This change marks a drop from early 2023, when stayers experienced a 5.5% increase compared to a 7.7% increase for switchers. The quit rate decreased in 2024, reaching its lowest level since 2020, as 39.6 million Americans resigned, down from over 50 million in 2022. Many workers express difficulties in obtaining comparable positions and report feeling a lack of bargaining power. A Harris Poll indicates that 70% of Americans believe finding a better job is challenging, while 75% feel employers dominate the job market. Job seekers face lower salary offers, with one specialist accepting a role at $120,000 after earning $170,000 previously. Hiring rates have declined to approximately 3.3%, reminiscent of post-Great Recession conditions. The finance sector stands out, as banks with record earnings offer higher salaries, though expectations for bonuses at JPMorgan remain unmet.

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