Job Hopping to Increase your Income

Job Hopping to Increase your Income

Job hopping is often frowned upon. But it is a proven way to increase your income over time.

Job Hopping

But what exactly is job hopping? You might be wondering now if you should change your job every year, just to keep pushing your income.

Well, the answer is as you might guess, no. No, changing jobs every year might not be a good idea.

Of course, there’s a limit to what you can earn at a certain level of skills and experience. Also, changing jobs this often is really frowned upon by recruiters and hiring managers.

If do you plan to be job hopping very often, be sure to prepare for the dreaded question “why do you change jobs so often?” It’s a valid question to ask.

Potential Income Increases

You might be getting raises every year, or maybe only when you ask. However, as much trouble a company went through to recruit you, now that you’re in they might not be willing to increase your pay that much.

The company knows leaving a job is a big step to take, so you won’t negotiate to the fullest.

Only if you are really willing to walk away, you have leverage if your company wants to keep you. But beware, threatening to leave could make them walk you out the door (depending on your country’s law), or cal your bluff. Be prepared!

Other ways to earn additional income without job hopping are starting a side hustle and volunteering for international business travel.

Why I Left my Job

About a year ago I was recruited by my current employer. It was very hard for me leaving my old company. I really liked working there, and the colleagues and management were nice people.

The problem wasn’t the company. The problem was my ambitions. I wanted to grow into another type of role, and that wasn’t really possible. So naturally when I was spotted by a company offering me that exact role, I was very happy to talk to them!

My Salary Increased as a Result

It wasn’t my intention to leave the company for a higher salary. I could have gotten that raise by pressuring my manager, threatening to leave.

Heck, I even got an offer from my old company that was higher than the salary at my new employer, if I’d stay. But nope, that opportunity was gone and I wasn’t interested in staying in my current role for an increased income only.

At the new company there was quite some room to negotiate. They recruited me, I had a steady job. Also I work in an in-demand industry and have some specific skills that are worth real money. So when I asked for more than their offer they accepted pretty quickly.

It made my savings rate jump which is good because I can invest more money.

Job Hopping Pays

I know that I could leave right now for slightly more money. However, I’m not interested in doing that. For now I like my job too much, plus I don’t want to hop after less than a year.

But… if a year from now the pay increase is not coming and the economy is still good, I might consider looking for something else.

In the end, increasing your salary is what really accelerates your path to FI. In the meantime, make sure to do a job you really like.

What is your experience with job hopping for more money? I would appreciate you sharing your story below in the comments.

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4 thoughts on “Job Hopping to Increase your Income”

  1. That’s a really good perspective, great post! I am currently in a consulting firm, already working at my current client for 10 months. For me it’s getting too long, I’ve learned everything I could there so I want to move on to another client.
    Also, I have my performance review this Monday, I want to go for €400 extra gross salary. I know that what I am worth to them is above average, so let’s see what they have to offer. If it will be a no, I will most likely look around for other opportunities!

    • 400 extra at your current employer is quite a lot! What do you earn now, if I may ask, and how much experience do you have?
      I only managed to get 400 during the first year when I went from my starting salary 2300 gross to 2700 gross. Of course when I switched jobs I went up by 550 but still that was outside of the company.

  2. I have had the luck of not having to really negotiate for a salary increase and thus am still with my first employer after more than 6 years.
    Ever year I was able to show above average results and received an increase equal to what I would get if I job hopped (comparing to friends who do hop jobs on occasion).
    As a result my current salary is actually above the industry average and getting a higher income will require:
    1. a lot more effort from my side
    2. The perfect fit with the other company, i.e., closer to where I want to live, colleagues of similar age, etc.
    For now I can’t complain except it is becoming a bit more stale.

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