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Workers have long been taught that job-hopping is the fastest way to rise through the ranks and secure big pay raises\u2014but the career strategy has lost its edge.\u00a0<\/p>\n
Professionals who switched jobs this January only got a median pay increase of around 4%, according to a recent Bank of America study. Meanwhile, those who stayed in their roles during the same period received a 3.5% wage bump, according to the Atlanta Fed\u2019s Wage Growth Tracker.\u00a0<\/p>\n
And the financial incentive for workers to take the leap to a new job has been steadily declining for years, as employees cling to their roles and hiring stagnates.\u00a0<\/p>\n
\u201cWith fewer open roles, the job\u2011change premium\u2014the extra pay boost workers typically receive when they switch jobs\u2014has started to compress across the board,\u201d the Bank of America report says.\u00a0<\/p>\n
\u201cThis softening matters because job changing remains one of the most effective ways workers secure higher pay.\u201d<\/p>\n
Welcome to the \u2018low-hire, low-fire\u2019 economy<\/p>\n
The pay bump for job-hoppers in January is less than a third of the post-pandemic peak of roughly 14% in 2022, when businesses were hiring workers in droves.\u00a0<\/p>\n
Over the years since, companies have whittled down their supersized workforces and reeled back hiring, flattening the pay bumps for switching roles.\u00a0<\/p>\n
In 2023, the wage gain for job-hopping stood at around 9%, lowering to about 8% in 2024, and roughly 6% in 2025, according to the Bank of America report.\u00a0<\/p>\n
Workers hoping that the tide of job-hopping gains will turn in their favor might be waiting a while; so long as employers continue to limit hiring and workers stay put in their jobs, the situation will only get worse.\u00a0<\/p>\n
\u201cLooking ahead, if \u2018low-hire, low-fire\u2019 continues to characterize the labor market, the job\u2011change premium could compress further, limiting the extent to which workers can secure meaningful pay bumps by switching roles,\u201d the report explains.<\/p>\n
Job-hopping replaced company loyalty\u2014and now, workers are \u2018job-hugging\u2019<\/p>\n
Young workers earning rock-bottom salaries are known to job-hop in an effort to quickly climb the corporate totem pole. But Gen X and baby boomers were once promised that loyalty breeds success: by staying at one company for many years, they could prove their dedication, and have a better shot at bigger titles and salaries. But as benefits wane and promotions are clinched, leaving an employer for greener pastures became commonplace.<\/p>\n
Around 75% of workers ditched their employer before even receiving a promotion, according to an ADP report on 2023 payroll data. And Gen Z in particular have adopted the strategy in recent years\u2014about 83% of the young workers self-identified as \u201cjob-hoppers,\u201d according to a 2023 report from ResumeLab. And up until recent years, it\u2019s been paying off: in 2023, nearly one-third of Gen Z changed jobs, with 35% making the move explicitly to secure higher wages, according to an H&R Block report.<\/p>\n
And despite how much employers might hate job-hopping, most professionals have been embracing it as a useful career tool. About 41% of workers in general think switching gigs every two to three years is acceptable, with 56% of Gen Zers believing the same, according to a 2024 report from Resume Genius.\u00a0<\/p>\n
However, wage gains have become so marginal, and job openings have become so scant, that the popularity of job-hopping could lose traction.\u00a0Just last month, American employers unexpectedly cut 92,000 roles, and the unemployment rate ticked up to 4.4%. Meanwhile, AI is automating human work at a dizzying pace; since ChatGPT\u2019s rise, U.S. job postings fell by about 32%, according to a 2025 analysis of Federal Reserve data.<\/p>\n
#pay #premium #jobhopping #disappearingswitching #roles #payoff #staying #loyal #employer<\/p>\n","protected":false},"excerpt":{"rendered":"
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