This is one question I always ask myself whether which one is more beneficial in long terms if one would to stay on for a job for many years or job hopping every 2-3 years. Before we discuss on this topic, let us do a comparison on the Pros and Cons between these two.
Pros for staying a job for many years
Leadership or Competent - If you are competent and have good leadership skills, your boss will always give you the opportunities to lead the team to run a new project.
Seniority - If you stay at a company for the long haul, you will be more likely to rise in seniority, rather than having to start from scratch and fight to establish a stronger role in the company.
Stability - If you are constantly worrying about where you will be in the next year, it is very difficult to make long term plans. A little stability in your career or workplace can help you to cope more effectively with the stresses that are sure to happen in your life.
Flexibility - Most people who stay in a company for many years, progress through multiple challenging roles when they are in the company. They are typically trying many roles to help them to determine what they are most passionate on. They get to retain their status and benefits and also free to experiment new areas.
Cons for staying a job for many years
Taking for granted - When you are in the company for many years, you have the tendency to take things for granted. You think that you can set the rules and everyone had to follow suit which does not align the company's policies or directions.
Stagnant Increment - Your annual increment is not as great as you joined a new company. Your annual increment would probably be around 2-3% as compared to 10-20% if you choose to job hopped.
No more passionate - When things had became a routine, you no longer have any passionate in your work nor do you find any motivational drive in pushing yourself in the next career milestone.
Pros for job hopping
More money - When you job hop, you will always ask for a salary increment of 10-20%. You do not change a job if it is of the same as your current or lower unless you want a change in your job roles to undertake lower responsibility.
New environment - A change in new working environment entices you to be more motivated to learn new things and more passionate in contributin
g in the new company. It give you the opportunity to experience new company's culture and the way how the company run their businesses. You are expanding your network to a new pool of professionals.
Cons for job hopping
Employers will be hesitant to invest in you - When jumping from job to job, you are showing future employers that there is a high likelihood that you will do the same to them. By putting in the number of years working with them proves your loyalty as well as strengthening your job security. Loyalty goes a long way and from the employers perspective, it gives them the dependability that they can count on.
Your job maybe less secure - If your employer is forced to retrench staffs, you might be the first to go given your track record of job hopping.
Loss of seniority - When you joined a new company, you have to start afresh and build your career in the new company. Everything had to start from zero to build your way up in the corporate ladder.
I had been with my current company for coming to 2 years. A new startup and a new industry that the company is venturing with. It is always good to be a pioneer in a new startup with the company. You get to try everything under the sun and your words tend to be more heard than the juniors joining the company. A very good 2 years with the company and team bonding with fellow colleagues. But however, the company does not pay well in rewarding the staffs. A typical employee gets an annual increment of 2-3% and promotion will only come probably 3-4 years in your stay with the company. The increment for the promotion is only about 5-8%.
With the continuous rising standard of living in Singapore and inflation, the increment does not help to sustain the rising cost. The question to ask oneself is whether should we change a higher salary job to meet the inflation and also to increase our income to eventually be financial freedom. There are too many considerations one need to consider to stay put in the company or job hop. There is no right or wrong answer. Ultimately you have to ask yourself when you made this decision, are you comfortable with it?
To me, if I am a fresh graduate that just embarked in this new journey. I will focus on my areas of work and gain more experiences before I job hop. Then I can command better salary package with the number of years of experiences. If I am in the peak in my career, I would probably choose to stay put. Firstly, age is consideration when you choose to job hop. A company would not be keen to invest on you as you are already of certain experiences and you commanded a higher salary if the company employ you. Secondly, once you hit a certain amount of salary cap, the company will try to slow down your salary by giving you lower increment. In a way, they are favoritism in new graduates by giving them more increment. If old timer like you or me are not happy, the door is always open for you to move out.
A guideline below on what I think you should stay put or job hop based on your age. By looking at the table tells you the prime time to job hop is between 26 to 40 years old. Anyone above 40 years old, it is best that you stay put with the company for your own good. This is based on my opinion, readers may beg to differ.
| Age | Decision |
| 20-25 | Stay put |
| 26-30 | Stay put / Job hop |
| 31-35 | Stay put / Job hop |
| 36-40 | Stay put / Job hop |
| 41-45 | Stay put |
| 46-50 | Stay put |
