SquareVehicle t1_iy8zbs1 wrote
It's pretty typical that that's the best way to get paid the most the quickest. But it actually is also possible to stay and still get paid well.
I've been tracking my total comp since I started and on average I've gotten a 9.4% raise each year. Some years lower (looking at you 2009 where I actually went negative YoY but lol at finding a new job), some years higher, but that's the average I've had from sticking with the same company for the last 16 years. I have of course gotten lots of interest from other companies but either the new job sounds worse or they can't significantly (>20%) beat my current salary at the time so I stay put because I still really like my job and my coworkers and location. Also the same reason many of my coworkers are also still here even longer than I have.
Anyways as long as you're semi-regularly checking to make sure you're still being paid well compared to jumping companies, then it's not necessarily inevitable you'll get paid less, but I'll admit I'm probably more of an outlier.
And FWIW people have been saying "20 years at the same company days are now over" since the 1990's so it hasn't been true for a long long time.
NorthOaklandGuy t1_iy91x9e wrote
Yeah people started saying it when most large private sector employers stopped offering pensions.
raouldukesaccomplice t1_iy9bmev wrote
Even companies that do 401(k)s in lieu of defined benefit pensions still often have a vesting period for their share of the matching funds and you could lose that money if you don't stay for at least a few years.
NorthOaklandGuy t1_iy9clcy wrote
True but that’s usually 4 years and you usually keep something. The vesting period for employer contributions at my firm is 4 years and you get 25% vested every year. So leaving at 3 years I would keeps 100% of my contribution and 75% of my employers contribution. So yeah that does discourage job hopping but it doesn’t encourage staying put for 30 years.
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