Are You Changing Jobs For the Money Or Career Advancement?

It has become evident that higher salaries are the driving factor for candidates looking to change jobs in 2022. Even those who had previously not planned to shift to another company wonder whether they should seek out their worth on the open market.

Are you considering changing jobs simply for the money or for career advancement? Let’s discuss the pros and cons below:

Money Talks

There is no question that the lure of higher wages is enticing. Even those who are happy in their jobs, may choose to move on.

Employers aggressively looking for new talent are raising compensation to attract the interest of skilled professionals they want in their organizations. As a result, the current market is rife for job hunters to negotiate higher pay, as employers will be more apt to raise offers simply by being asked.

Last year, millions of workers quit their jobs in what was known as the Great Resignation. In 2022, the trend of those searching for new jobs, even those currently employed, will continue.

However, if you are thinking about moving on, consider these fundamental questions to determine if your reasons are valid and if the move will serve you in the long run.

Are you currently underpaid?
Do you think you are overworked?
Do you like your boss?
Is your company financially sound?
Do you anticipate layoffs in the future?
And most important, are you happy with your present job?

Job Hopping 

Perceptions about job-hopping (defined as staying at a job for only 1 to 2 years before moving on) are changing due to Millennials and Gen-Z, known for their job-hopping tendencies. They are inclined to discard established career paths in search of more fulfilling and exciting opportunities, regardless of the implications.

Not long ago, employers considered job hoppers as a red flag for possible problems, mainly loyalty. So, understanding why you are changing jobs remains relevant in both you and your potential new employers’ minds.

What Employers Like

As people move from job to job, they generally gain valuable new skills that employers often seek out. In today’s work culture, the ability to communicate and have ‘great people skills’ or being highly adaptable to changing work environments are often considered more important than hard skills. These skills can be honed by employees moving to new jobs more frequently.

The Drawbacks 

While you may gain new skills or a higher salary, don’t forget what you might lose if you move without complete understanding and intention.

You will still be ‘starting over’ when you move to a new job, no matter your pay. So, consider benefits like vacation time, insurance plans, and retirement income that you could forfeit by leaving your current employer, to name a few.

Moving to a new job without intention, and without stopping to figure out if the change is right for you in all aspects of your life may be a mistake in the longer term. If you don’t figure out what is most important to you, you risk repeating this mistake in the future.

Mitigate your Risk

Having a clear rationale for changing jobs will serve you in your life and career. Always evaluate the potential gains and losses before you decide to move. Be sure that you are not just doing it for the money but also asking yourself important career questions like, “What do I care about?” or “What problems do I want to solve?”

Moving to a new job for the money without exploring your passions can leave you dissatisfied, and you could eventually hit a plateau where you are overpriced for the market.  

Sometimes, when companies are offering more money, it could be for negative reasons without you knowing. It could be ‘hazard pay,’ so to speak, from a volatile company, so make sure you understand the reason behind the higher salary offer. Moving to such a company could damage your reputation and affect your future marketability.  

So, before you start planning your exit strategy, make sure the job you have your eye on will not only increase your salary but will also feed your career and your soul by providing an environment and culture that you are confident to join.  

Our expert team at ALIGN can help you find and evaluate the best options for your future career. Give us a call to chat.