Yep, been at this job 10 years and only seeing annual raises of about 2%. Maybe we got 3-4% last year, but that was the exception and that was still a 4-5% paycut given what inflation is/was. I’m comfortable at my job though is what keeps me, and I’m sure that’s what businesses bank on. Workers are too afraid to look elsewhere for a job, so they’ll just stick it out no matter how much they’re losing.
At my giant workplace, they don’t think people are “experienced” enough unless they move around. Then in hiring they also comment negatively about those who move around too much. It’s all arbitrary bullshit. Whatever random feelings a hiring manager has. Never what is actually needed for the job.
I read a few times that there is a breaking point between people who switch jobs every 3 years on average. Any less often you make significantly less at retirement.
I’m sure there is a value that’s too often but I’ve tried to stay pretty close to the 3 year mark and we make about 5x what my wife and I wanted to make at retirement.
I laugh at people bitching about their pay. Move. On. Why would the company suddenly throw you a 20% raise!? Out of the goodness of their heart?
My last 3 jobs (top pay): $14 -> $22 -> $39. At this point I could probably jump ship for more but I’m quite content to retire out of this place.
Stay put 3-5 years, gain experience, jump. When we moved here my buddy took a job at an oil change place, barely above min wage and far below his skillset. Kept job hopping and now he’s making $120K+.
Always good to know what you are worth and keep interviewing skills sharp. But yeah, you could wait years for a promotion (more responsibilities!) and it only be 10% whereas a lateral move at a new company could be higher pay for the same type/amount of work. Crazy, right?
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