I'm in my late 20's and in my second job out of college in a high paying front office role in asset management, however this discussion can help several people across many industries. I am very sensitive to job hopping and its perceived stigma by leaders, nevertheless I have no loyalty to my firm and have no problem leaving for the appropriate role. What I am trying to grasp and get a good understanding of is the balance between better opportunities that come one's way and this hot job market (which won't last forever). How do you all evaluate jobs that are presented to you which are better and higher paying but not necessarily ones that blow everything else out of the water? I'm talking about job offers that are only a couple steps above a "lateral."
In the spirit of career acceleration and significant pay increases, how sensitive are you all to job switches and what is the pay premium and rank/title/responsibility increase that you require in order to leave your role? Certainly your third company by the age of 30 doesn't label you a quick quitter, but at this point I'm sure most people would begin to feel uneasy of entertaining a fourth company if better jobs come their way.
If someone in their late 20's accepts their third job out of college that pays significantly more and a higher rank, how would they be perceived by hiring managers when they are in their early 30's and looking at their fourth job out of college in order to further accelerate pay/career progression?
I think we can all admire leaders and senior managers that climb their company's ladder and spend much of their career only with one firm, and this tends to happen with the most prestigious companies, but for people who don't follow the traditional path this can sometimes be impossible.
The opportunity presented my way is in a role/city/firm that I don't necessarily see myself in for 10+ years, so the likelihood of me looking for a role in my early to mid 30's with a fourth company is high. This is what I am trying to grasp if it is thus worth the switch.
Hi GridironCEO, check out these threads:
More suggestions...
I hope those threads give you a bit more insight.
In my opinion, I think it’s fine to switch every 3-5 years, occasionally even faster with good reason (so long as it’s not a pattern). Additionally, I think it’s more important to show progression. So if you’re switching laterally every single time every 2 years, that raises suspicion. If you’re switching to a higher title after 3-5 years each time, it makes sense especially earlier on.
Take my advice with a grain of salt, I’m in tech and usually it’s normal to switch after 2 years and nobody bats an eye.
Within tech, do you agree that company leaders (not counting start ups) tend to be those that have climbed the ranks at the company. Also curious, would you personally ever consider taking a "home team discount" to stay at your firm, i.e. give up higher pay somewhere else if its underneath a certain threshold. (Examples $300k at current company, turning down $350 at new company, $200k a current company turning down $220k at new company).?
I don’t have actual data on rising through the ranks, but anecdotally you see people stay longer as they rise in seniority. There’s a multitude of reasons why someone would stay vs leave, but generally speaking the more senior someone is the longer they tend to stay. Right now tech is interesting because the giants are mostly new enough where the founders have been the ones running the show. That said, if you look at Google as an example, Sundar worked there since he left McKinsey to rise through the ranks.
For me- there’s more reasons than sheer comp why a specific company might be more interesting. As an example, the place I work out now wasn’t just a sheer comp comparison (they offered me a competitive package but it wasn’t the highest). They use modern tech, put me in a place to lead projects end to end, are in a niche (video streaming) that I think is growing, and overall I have better exit ops because of this.
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