Is job hopping bad?
Sorry, I’m a few days late…
Firstly, can we take a moment to appreciate the fact that we are not in some trench over in Ukraine right now? I’ve recently realised once again how fortunate and Blessed I am to not be in a war-torn or impoverished country. Chances are that you are the same. Make sure you think and remind yourself of how lucky you are and how much you have.
Now. On to the meat and potatoes of the post (Sorry vegans). I’m in between jobs at the moment. I am very excited to start my new role but I have a bit of time before I start. It has prompted me to think of job hopping and what it means for a career. Is it bad? Should you be loyal? Should you work your way up and stick with a single company?
These are all very important questions because here on the blog we are trying to reach financial independence together. And I would bet that the vast majority of you are working 9 - 5 jobs like I am.
As such we are always looking to optimise this and see how we can get to FIRE as quickly as possible!
What is job hopping?
Job hopping sounds funny, it sounds like we are entering some sort of proverbial job bus and then changing to another. Job hopping in essence is the act of moving from one company to another one. Often because the offer at the new place is better.
It is leaving your company and moving to a different one. It has both a good and bad reputation. Let me explain. On one end, people and less so companies I’ve found look at a resume and see that you’ve been at 2 - 3 companies in a few years, what are the questions they are asking themselves?
Early on in my career, I was too scared to move as I really thought that it was a bad look.
Should you do it?
My answer - Maybe. Let me explain. The old saying in business is often true. The grass is always greener on the other side. I think that many people leave a good-paying job with good people for a simple ‘change’
This should definitely not be the primary driver for moving. It definitely was not the driver for moving in my case. People are creatures of habit. From what we eat, to what we wear. We don't like change. So if you’re going to move, please make sure it’s a good move.
In my case, however, it was a great move. It was more money for a similar job. So I embraced the opportunity with open arms and welcomed it. I am excited to start the new role ok!
The video below takes quite a cutthroat stance on it but I share its sentiment.
When should you not do it?
As discussed above, you should not job hop just for the sake of it. Changing jobs as I’ve recently found once again is quite stressful. Its time consuming and there is A LOT of uncertainty. I can totally see why many people stay in a career for 40+ years at the same company.
It’s a stressful process with a lot of hoops to jump through. It depends on what you are trying to do of course but I am talking from my experience. The move takes time and effort.
You have to prove you can do the job once again to a new set of people with certain expectations and requirements.
It can be a game changer
The main reason you should consider doing it, however, especially early on in your career is the opportunities it can create. The company I am leaving is a market leader and having moved there initially opened the door to this wonderful opportunity.
So making the right moves can truly change your life. I am very lucky to be in the situation I am in and I do not take it for granted.
You should consider your current role and where you are at. Is is exactly where you want to be and how much you want to earn? If not then get out there and hustle. Stop waiting another year, train, get qualified read etc to make the moves necessary to get the paycheck you want.
I will say this, the opportunities I’ve been given have not fallen into my lap. I’ve worked hard for them. If I can do it, you definitely can to!
In other news
I thought I would end today’s posts with a bit of news on investing and whats been happening with us personally.
Investing
As I am sure you are aware, we truly are in a bear market now and things are looking grim for the market.
For us long-term investors we must now wait out the storms of war, turmoil, shortages etc. I always remind myself of the crazy events the S&P500 has survived to bounce back and get back into the black. Hold fast and keep buying! #notfinancialadvice
The book!
The book is coming along quite nicely and we are still set for March 2023 at this stage. It has been an amazing project so far. I am working with some very talented people to get this creative work out to the public! Head over to my publishing website if you want to follow the progress - Here
Until next time
Thanks again for being part of my world and I hope the info here is useful. I would love to hear what your thoughts on job hopping are. Have you done it? Are you considering doing it?
Bye for now!