
Why switching jobs is the fastest path to doubling your salary - AustinGrandt
https://www.financialtoolbelt.com/resources/blog/career/why-switching-jobs-fastest-path-doubling-your-salary/
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ldoughty
An interesting article, I've subconsciously agreed with this in my life, but
I've also seen (and encouraged in my companies) change here.

My policy is to fight for lower-salary employees to get closer to 10% raises
if they are doing well and gain provable skills. I think the primary issue
with job hoping is that 2-4% raises do not match with market value, especially
for the first 5 years of a technical career. Eventually it might reach this
level (year 10 vs 11), but certainly not the first few years unless the
individual is not growing.

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barrow-rider
The case study at the end seems overly modest. Even relatively unimpressive
internal promotions can bump you up 7-8% or more; jumping ship to new jobs can
often add 50% or more.

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AustinGrandt
definitely agree. I wrote this a bit overly simplified to showcase the point
that even mid-sized raises can quickly be outweighed by bigger jumps. There
are a lot of specific situations that may or may not apply to your specific
role.

I do think though that I used modest assumptions for switching jobs, so the
math evens out. For those that are already underpaid a jump of 30-50% is not
unheard of.

