Why you should (usually) switch jobs to get a pay rise | Digg

Tired of only getting tiny raises? You’re not alone. Wages haven’t kept up with inflation, and it’s now common wisdom that job hoppers make more money. But is there data to back up that intuitive belief?

Using data from the Bureau of Labor Statistics and the Federal Reserve Bank of Atlanta, Chartr graphed out the growth in wages for people who switched jobs, comparing them to those who stayed in their current roles, between 2000 through 2024. With a few small exceptions, it’s clear that people tend to increase their wages faster when they job hop.

Of course, this trend won’t hold true for every person or every industry, so it’s worth doing your own research before you haul off and think about quitting your job. And while money is extremely important, it’s not the only factor at play. Benefits, commute distance, stock incentives and other non-cash variables need to be used in your equation when deciding whether or not to leave.

Via chartr.

[Image: Andrea Piacquadio]