How to Job-Hop with Intention: Pros and Cons

There is a legacy in the American labor market, of working men and women staying with the same company from the beginning of their career all the way to the end. Company loyalty is a staple of many depictions of the mid-century United States, but in reality, the opportunity to work for well-established companies and rise up the ranks was a luxury typically only awarded to white men.

Prior to the Civil Rights Act of 1964, the convenience of having a ‘career-with-one-company’ excluded many, if not most minority groups. According to experts at the Institute for New Economic Thinking, this only began to change in the late 60s. Due in part to a strong demand for production workers and affirmative-action support, Black Americans in particular began to make “inroads into white-male privilege by gaining substantial access to well-paid and secure operative and craft occupations; big steps up from the common-laborer jobs into which they had previously been segregated.”

At this point in history, job security and staying with one company was seen as a very important step towards achieving financial stability and all that comes with it. Flash forward sixty years, and the concept of sticking with a single company for one’s entire working life is unfathomable to most. A recent report from Gallup found that millennials reported changing jobs at a rate three times faster than that of other generations.

There is a belief that job hopping leads to more opportunities and higher pay. This, combined with the fact that side hustles are more popular than ever—more than half of Americans have now adopted a side gig to supplement their income—has created a labor market ripe for job hopping.

But is it actually as lucrative as younger workers think? Let’s take a look at the pros and cons and you can decide for yourself.

The Pros of Job Hopping

Adaptability – Research shows that adaptability is one of the most sought-after soft skills in the corporate world. In fact, one study found that 33% of employers put it at the very top of their list. Even if you are hopping between positions that are similar, every new job comes with new challenges and learning curves. Your willingness to approach these challenges head on and ability to solve problems you’ve never encountered before, could make you a very valuable candidate for future positions.

Salary increases – While there are definitely some financial risks that come with job hopping (more on that later) in general, changing positions does lead to increases in salary. There is, however, a sweet spot, economically speaking. One analysis showed that “the biggest salary bump comes after employees stay put for at least two years, but no more than five.”

Networking – The more places you work, the more people you meet. It’s as simple as that. And as anyone who has been working in the corporate world can tell you, networking is very important. There is evidence to show that upwards of 85% of jobs are filled through networking alone. If you have substantial career goals in mind or are trying to make it in a competitive field, having a large network is key.

The Cons of Job Hopping

Starting Over and Loss of Benefits – Every time you move to a new company, you will be starting over in a way. Oftentimes, benefits packages don’t fully kick in until a person has held their position for anywhere from 3 to 6 months, and rarely are raises or bonuses even on the table before the end of the first year. These benefit gaps can cause a lot of undue stress and might have more of a financial impact than people realize.

Stigma/Perception – Even though job hopping is becoming more popular among the younger generations, going from one company to the next in a short amount of time is still seen by many as a red flag. It can make you appear flighty, inconsistent, or disloyal, which is going to raise some eyebrows—especially among older employers.

Lacking in References – When choosing a reference, experts agree that you should pick someone who really knows you and who you have worked with personally. General statements of praise or vague accolades are not going to impress your new boss, but if your old boss had less than a year to get to know you, what else can they really offer? Not to mention, if you job hop so much that you end up leaving your previous employers high and dry, that’s not going to lead to any glowing references.

Starting a New Job Search

Now you know the pros and cons, so it’s up to you to decide whether or not it’s time to start looking for a new job. If you’ve decided your time at your current company has run its course, but aren’t sure where to begin starting your job search journey, here are the first steps we recommend:

1. Clean up that resume!

Yes, we know that trying to curate the perfect resume isn’t an easy task, but it’s more important today than ever before due to new screening processes. Make sure that your previous job changes don’t look messy, and that there are no gaps. Consistent work — even if it encompasses a large number of companies — is always going to look better than employment.

2. Ask your network

Before you jump onto any job boards, you should reach out to your network to see if anyone you know has knowledge about openings that might not otherwise be widely advertised.

3. Check in with the experts

Navigating a job search is hard enough, but doing it completely on your own is very time consuming. If you’re feeling frustrated about how your solo search is going, or simply don’t have the time to take on the search yourself, let us help!