Job Hopping: Good or Bad for Your Career? What the Data Says

You’re Doing Your Career Wrong

You’re doing your career wrong. It doesn’t seem like it matters what you do these days when you’re applying to a job, or even as a current employee. You’re not performing well enough, you’re not handling it correctly, there’s something wrong with you—not with the company, never with the company.

Who Really Knows?

The average career spans 40 years, yet too many people look at their journey through a job hopping is a red flag short-term lens.” Well, as an employee, you’re not in control of if you get to keep your job or not, so it makes sense to have other options and be looking for upgrades, because who knows if you’ll ever get one at your current job, even though they tell you that you will. Maybe, but who really knows?

It’s Actually Smart to Build Your Network

And it’s actually smart to build your network. “The drawbacks to staying at one company for a long time are that you get pigeonholed into one position and end up doing one thing and not learning anything anymore, not meeting new people, not expanding your options or opportunities well, the entire time.” You know, that’s what the company’s focused on, though.

Playing the Long Game Takes Grit

That’s what companies have: multiple applicants applying to one job, so you, as an employee, need to have multiple applications and opportunities out there for yourself, ideally, right? “Sometimes it’s too easy to quit. Playing the long game takes grit.” Have you seen what people get for playing the long game?

They Get, Like, a Pin

They get, like, a pin. One person did 65 years, got a cake. Some people get a, a watch. You might even get one of those useless “Certified Great Employee” plaques that they just put on LinkedIn.

An Example from My Own Career

“Here’s an example from my own career. When ExactTarget was acquired by Salesforce in 2013, most of the leadership team left in one year.I decided to stick around and work my way through the transition. It was one of the toughest phases of my career, but it ultimately led to opportunities I had never expected.

I wouldn’t be at Databricks today if I hadn’t stayed.”

You Just Get More Work

But the thing with all this depends on the company recognizing you fighting through the challenging work and then rewarding you for it. That just doesn’t happen a lot at companies these days. You stay and fight through the challenge, and take a pay cut, get overworked, and then in reward for that, you just get more work.

Does Company Loyalty Actually Pay?

And if you want more money, the best way to get that is to apply to a new job. And the reason for this is because companies budget for hiring people, not for giving raises, so does company loyalty actually pay? They’re more than willing to give a new person more money, but they’re not willing to give people that have already been there 20 years more money, or nearly as much.

Restart the Salary Negotiations from Scratch

So if you want to make big gains, you go somewhere new. That’s where you can restart the salary negotiations from scratch, because otherwise, if you do it after 10 years, there’s all the stigma and experiences, and they start playing on loyalty and all the emotional things that they can’t really do when you first start somewhere.

It’s Really Not Up to People

“What we look for: consistent four to five year tenures.” It’s really not up to people, especially in today’s job market. You could be the best employee ever, doing the best work, and every company that you work at could fire you after a year, and it’s not your fault, but apparently it would be, according to posts like this.

It’s Not a Mistake to Get a New Job

“What we forgive: a mistake or two.” What does that mean? It’s not a mistake to get a new job. “A short stint happens to everyone, and I’m no exception. What concerns us: multiple short-lived jumps in a row.” Why changing jobs pays more.

Toxic Companies Back to Back to Back

Sometimes you just get toxic companies back to back to back through no fault of your own. And again, the thing with posts like this is that you wouldn’t even get the chance to explain it, and if you did, they’d probably just think you were making up excuses or that you’re a dirty liar.

Absolutely No Ability to Affect the Outcome

“This is something I’ve talked about with my own children, who are all early in their careers. If you’re 5 years in and already on your third company, it raises questions about whether you have perseverance to navigate through tough times.” Um, perseverance when you have absolutely no ability to affect the outcome is silly.

It’s Not Up to You to Stay at One Job

Depending on the people at the top of corporate to take care of you and reward you for persevering is silly. “Stop thinking in one to two-year sprints. Start planning your career in 5 to 10 year increments. The payoff will compound.” It’s not up to you to stay at one job, the 45 year job rule, for five or 10 years.

It’s Just Not Up to You as an Employee

They could downsize, eliminate departments, budget cuts, who knows, all sorts of reasons. It’s just not up to you as an employee, and this post doesn’t seem to take that into account or acknowledge that at all. It’s like it’s all up to you, no matter if you keep the job. You don’t control it, it’s up to you to control it. It just doesn’t make sense.

Back to the Original Premise of the Video

But now, back to the original premise of the video. This guy says job hopping is terrible, it’s a bad look, you can’t persevere, and then at the same time, the news says job hopping is actually good for you. “In today’s Money Watch, we are talking about job hopping. Traditionally, recruiters and hiring managers have viewed frequent job changes negatively, but recent research from Rutgers and Cornell Universities could challenge that perspective.

Job Hoppers Can Have Some Unique Benefits

It shows that job hoppers have some distinct advantages in the workplace. So if you’re in the market for a new job, listen up. CBS News business analyst Jill Schlesinger is here to discuss. Good morning.” “Good morning. Uh, I’m a job hopper. I have deployed this laughter closet out of the gate my entire career.”

What Does This New Research Reveal About Job Hoppers?

“Um, what does this, uh, new research reveal about job hoppers?” “We’ve known for a long time that people who move and switch jobs, they do so to make more money, and they do tend to make a lot more money, especially in a robust job market.” “Okay.”

The Big Raises Is by Getting a New Job

“Even in a non-robust job market, that’s how you get more money. The big raises is by getting a new job. And again, the reason for that is because companies specifically budget to be able to give more money to new people instead of old people. But in this survey, what we also found is that they tend to be more adaptable.

It Only Takes Two Months

I found this fascinating because the average person, when you get to a new job, it kind of takes you five months to settle in. In this group of people who hop around, it only takes two months. So there is something about the person who is willing to take the job and go somewhere else makes them more adaptable. So maybe if you’re a hiring person…”

People with Drive

They’re using the word “adaptable,” but what I’m hearing is that it’s people with drive. They know what they want, and they know they don’t control the company, so they have to look out for themselves first. Again, just like companies are quick. Pause.

It’s Your Data

Today’s video is sponsored by Incogn, and apparently one of the most valuable things you own now isn’t your house or research says job hopping is good your car or whatever you think you’ve got sitting in your bank account, it’s your data. Everybody wants this stuff: marketers, managers, your CEO, recruiters, AI companies.

These Are Data Brokers

Then there’s the companies that you’ve never even heard of whose business is basically collecting information about you and passing it around. These are data brokers, and they can collect, buy, sell why job hoppers make more money and share personal information across hundreds of different databases and websites.

Removal Requests on Your Behalf

And technically, you can go around asking all of these places to remove your information yourself, and you can also churn your own butter. I just don’t know why you’d want to spend your weekend doing either of those things, and that’s where Incogn, Incogn finds the companies that have your information and sends removal requests on your behalf.

Over 900 Automatic Removal Requests Processed

And I’ve been using it for a while now, so I can actually see how much they’ve been doing for me. I’ve already had over 900 automatic removal requests processed. 900! I’ve never even been invited to 900 parties, but apparently my data has. But with Incogn, it’s no problem at all.

The Setup Is Really Simple

The setup is really simple: you create an account, authorize Incogn to make the request for you, and then they start doing the work. And if you find a specific website with your information on it, there’s also custom removals. You give Incogn the link, and they work on getting that removed too.

I Just Want It to Be Handled

That’s probably what I like most about the whole thing. I don’t want privacy to become another hobby that I have to maintain. I just want it to be handled. I’d rather have fewer companies holding on to my info and spend my time doing literally anything else.

Your Personal Information Should Work for You

Your personal information should work for you, not for a bunch of companies you’ve never heard of. So if you want Incogn to start cleaning up your data too, you can head on over to incogn.com/fluke, and you’ll get 60% off your annual plan. You can also use your phone to scan the QR code displayed on the screen.

Take Your Personal Data Back

So take your personal data back and let Incogn do the boring part for you. Thanks so much to Incogn for sponsoring today’s video. “Looking at that person as a job hopper is not a negative. Maybe it’s a positive. I always like to make the argument, too.

I’ll Be Able to Bring That Insight

It’s like, well, I’ve had so many experiences, so many industries are changing right now. You know, I’m not like the company person. You know, I’ll be able to bring that insight. But it can feel really difficult right now for job seekers. What are the latest numbers in terms of how the job market is evolving?”

It’s a Tight Labor Market

“It’s been a little bit weird, because in our most recent report back in July, we showed that the economy lost 23,000 jobs. Now, I don’t know if that’ll stick, we always get revisions, but even if in the last 3 months we’ve only been averaging about 20,000 jobs a month, and for all of last year it was just 15,000 jobs a month, so it’s a tight labor market.

The Average Duration of the Unemployed

And I think that this probably explains why, when you look at the average duration of the unemployed, it’s 25 weeks. So that’s a long time. And when you think about our, my normal advice is like, keep some extra money in an emergency reserve fund, because if you do lose your job, it’s taking a longer time to find one.”

Are Wages Keeping Up with Inflation?

“I know, I, that 25 week stat, I mean, that is, it’s pretty significant, and the jobs are not coming across all industries evenly. So what about wages, right? Because you said one of the reasons people do job hop is to get a higher paycheck. Are wages keeping up with inflation?”

You Are Losing Money

“So for right this second, no. And this is on average, median wages over the last year up 3.2. The inflation rate, the headline rate, which we do put food and energy in there because you are paying for that, up by 3.4.” So if you really listen to what she said here, just by default, if you’re not getting a raise every year, you are losing money.

Your Purchasing Power Is Decreasing Every Year

Your purchasing power is decreasing every year if you don’t get a raise, and usually cost of living raises, which are supposed to counter inflation, don’t even come close. So again, it makes sense. “There was a period of time where wages were growing faster than the inflation rate, and that was good for workers.

This Is Not a Forever Moment

Now we’re seeing it flip. It may not stay this way. I just, I don’t like, this is not a forever moment. But what it means is there are a lot of Americans who are dipping into their savings. Once they deplete those savings, they’re turning to a credit card or buy now, pay later, and that’s how they’re making do.

If the Labor Market Really Does Turn South

Now, as long as they keep their jobs, they can keep those payments up. The worry among economists would be if the labor market really does turn south and someone does lose jobs or hours, how are they going to manage those extra costs when it comes to credit or buy now, pay later?”

Step One, Stop Living in Fear

“And I think that’s the sort of, the sentiment that someone who is job hugging or job clinging, and they don’t want a job hop, what would be your advice to someone that just is really concerned about leaving?” “My advice would be, someone that’s concerned about leaving, would be step one, stop living in fear. Step two, start making some options for yourself.”

Loyalty Is Out the Window

Get applications out there. Loyalty is out the window. Companies will say they care about you and then fire you the next day. I mean, you could pass away on the job and they’d still function without even missing a beat. Happens all the time in the news.

Stop Treating Them Like They’re Kings and Queens

So step one, stop treating them like they’re kings and queens or some super high-up authority, and start thinking of yourself and what you can do. Ideally, if you’re feeling that way about your job, you’d want to be looking for a new one, because if you’re living in fear, job hugging fear, job hoppers are more adaptable of the economy or whatever, chances are you’re going to be willing to do whatever your company tells you, and that makes it real easy for companies to take advantage of people when they’re afraid.

Hang On to Your Job

“Jill, the certified financial planner, the aunt who is worried about everybody, I often will say, like, hang on to your job, kiss your boss’s tush, like, keep it. Do that, right? But then when you really look at it, if you do have a skill set and you are willing to go, it is, it is okay to do it.

That Risk Applies to Everyone Equally

Just know that the risk is that sometimes it’s the last person in is the first person out when the economy rolls over. So that’s the risk.” Uh, that risk applies to everyone equally. You could be the first person in and the last person out, or the last person in, the first person out, it doesn’t matter.

Those Are the Real Risks

There’s no risk with job hopping other than, there’s not really any risk with job hopping other than the new job being worse than the last job, or maybe it was offering you more money and you thought it’d be better, but then it ended up being miserable. Those are the real risks, not just what you look like to other people because you switched jobs.

Tips for Job Seekers: Use Connections

Who cares about that? What, what, this is, so, like, this is so depressing. “Tips for job seekers: use connections.” If you have connections. What if you don’t have connections or a network or just happen to know someone that owns a business that can hire you right in? Have you tried just having connections?

Say Yes to New Opportunities

“Do practice interviews.” I mean, those are fantastic, but if no one’s getting any interviews after their practice interviews, I mean, that’s kind of a waste of time. “Say yes to new opportunities.” Well, it depends on the opportunity. Are you playing on desperation here? It seems like it.

Stop Looking for Your Dream Job

Now, down here they say, “Stop looking for your dream job,” which is partially true. The job market is getting rough because dream jobs don’t exist, but you should always be looking for better opportunities. Of course, sometimes you have to take what you can get, but still keep looking for the best job that you think you can get, at least until you get to the point you want a dream job and you actually make it for yourself, because if it’s not your company, it’s their dream, and they’re just giving you a job, so you work at someone else’s dream job.

You’re Not Doing It Right

“Auntie Jill, always, I, I always come to you for advice on these things too.” “So I do too, guys.” “All right, thank you.” But like I said, it just doesn’t seem like it matters what you do as an employee. You’re not doing it right.

Think for Yourself

One person says do this thing, and they claim to be the ultra authority on that subject, and another person says to do the opposite, and they claim to be the ultra authority, end-all, be-all on that subject or topic. So what’s the solution? The solution is to ignore that and think for yourself. Keep trying to have options, keep trying to make leverage for yourself.

Is Job Hopping Good or Bad?

But what do you think? Is job hopping good or bad, or does it depend, like with all things in life? Let me know down in the comments below. And if you have any other LinkedIn posts or contradictory career advice you’d like me to roast and point out, then you can email me, Discord, Instagram, however you’d like to do it.

I Hope Everyone Is Doing Really Well

The links for all of that are down below. If you enjoyed this video, leave a like, subscribe to see me call out more of this corporate nonsense, and share it with a friend if you got something out of it. But having said all of that, I hope everyone is doing really well. You deserve it, and it’s all going to work out. Thanks so much for watching, and I’ll see you in the next.

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