Millennials are thought to be the least loyal generation when it comes to job-hopping. No one wants to be just another job-hopping millennial, but there are benefits to job hopping, such as:
- Diverse experiences that add to your skill set and knowledge
- Potential for increased compensation in the long term
If you’re considering job hopping, you might be scared about the opportunity cost of leaving your current company and you might wonder what you will leave behind personally, professionally, and monetarily.
Personally, you might ask yourself:
- What if I don’t connect with my new boss?
- What if I dislike my coworkers?
- What if the work life balance is terrible?
- What if I regret moving?
Professionally, you might ask yourself:
- If I stayed, where would I be in five years? What level of responsibility would I have?
- Am I ready to start over, rebuild all my connections, and work my way up again?
Monetarily, you might ask yourself:
- Will I see pay increases each year at a new company?
- Will I lose long-term incentives by leaving my company?
- Will the benefits of the new company match up to the benefits I have now?
It’s important to consider the whole package when you decide whether to take another role.
How will your life change and is it for the better?
Don’t be so caught up chasing success that you neglect your personal happiness too.
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Have you been in this position before? How did you decide whether to job hop or stay put?
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Broke Millennial says
Have you made a decision? Sounds like a lot of great options, but I understand your hesitation at being another job hopping millennial. I’m a statistic in that nature. I graduated in 2011 and I’ve held 3 jobs with 3 different companies in nearly 5 years. Granted, my first gig out of college was a one-year stint in entertainment, so that’s a bit of a wash. I’d be curious what you value the most. Seems like moving to the Bay Area would be tough with the CoL — but that also reads like the job you’re most excited about!
I’m in the same boat. I had four jobs in the my first two years out of college and have only recently settled down the last three years! I’m changing my mind daily but I am leaning towards staying! I actually negotiated hard with both of the tech giants and have had the offer withdrawn on one so far (they emailed me after I counter offered saying they could not meet my compensation requirements and are pursuing other candidates!) No love lost though because it wasn’t my top but it will definitely make for an excellent blog post!
This post really resonates with me right now. I’ve been considering leaving my current position because I’ve found that my interest is only held by things for about one year. But my current position has some great immediate coworkers and allows me a fair amount of travel time. My current goal is to pay off my student loans so that finances isn’t a concern for me.
I feel the same way. I like to change things up every year or few years or I get bored. Good luck paying off your student loans. I just paid off mine and it feels great!