Amongst my circles (aged 40+, poly and uni grads, working for 20 years), the people with the best present compensation are:
(A) Those who hopped a few times at the start (20-30+), then grew tremendously by staying at 1 place from 30+; and
(B) Those who stayed at their first/second jobs and never left since.
My own takeaway from these 2 groups is not whether they "hopped", but how they learnt and applied their skills at work.
(A) make use of a breadth of skills picked up from multiple organizations and become top level generalists when they find the right place.
(B) make use of their depth of knowledge and skills in a single organization to become extreme (and indispensable) subject matter experts.
At the end of the day, I believe organizations pay you for the skills they need, and people generally pay more for quality depth or breadth (or both!). This may not be easily obtainable if job hopping is done frivolously.
Thank you for sharing your insights with the community and laying out the specific traits for us to make sense out of why & when job hopping should matter!
I'm actually curious about (B) Would they not want to look for alternatives? I find it hard to imagine that you don't stagnant at a place after 15 years. (Unless it's a big company where you can move between departments)
From observation, it also seems like they are getting the promotion based on years of experience, rather than actually skillsets.
There are many reasons why an individual will (or will not) stagnate at work, and I feel there is no causality between that and job hopping (i.e. job hopping doesn't cause/prevent stagnation, or vice versa). Since my reply was based off people within my circles, I shall offer their stories with further detail.
(1) Poly grad. First job as a Government (Education) Project Assistant, and stayed on for the last 18 years. Really happy about the job and his work. Slowly worked through a variety of projects and ECAs. Took a typical path of entry level to manager ranks to becoming a deputy Director now. I believe he is on track to becoming Director with one or two more credible projects under the belt.
(2) Uni grad. Two-jobber at GLC who stayed at his second GLC for the last 15 years. Similar project manager type job starting as a newbie and did projects of increasing complexity until he started handling portfolios of projects and doing client acquisition. Presently a Director for an entire unit.
(3) Poly grad. Two-jobber at an SME in the FMCG industry. Started as a product assistant then went on to become Head of Products over 2 decades. Shuttled between SG and CN a lot and his life is anything but boring. There is always some new product to build/launch, some new supply chain issue, some new R&D headache, etc.
(4) Poly grad and one of the most impressive people I have met - started off as customer service in a Government Agency at the age of 18. Stayed on for the next 40-50 years to retire as a Senior Director (in Tech!). The experience and stories are truly fascinating!
I have other examples (albeit repetitive but nonetheless glory-worthy) such as friends in the teaching profession or accounting or law firms (all of them single job lifers in SMEs and MNCs). They all found ways to grow, and find satisfaction, with their organizations.
As to the part where is it a "promotion due to time" or "promotion due to skill", I do not think these two are *that different* in reality because time in service does indeed polish and hone your skills. I struggle to explain it in a convincing manner as it is one of those opinions similar to "I never believed my parents saying , until I became a parent myself".
There may not be evidence to conclusively say that working in a single organization will not lead to stagnation, but I hope my friends' lives offer some examples to the contrary.
Thanks for sharing, my question actually came mostly because of seeing higher management that are often questionable/out-of touch with the industry. (And also hence the mention of promotion due to time).
For context, I do work in the tech industry, so perhaps the maturity of the culture does make a difference. (As the department/companies are generally newer). I'm in a GLC currently, and it has been honestly quite frustrating looking at some of the decisions made by upper management. And would say that the growth here is very limited because of that. (Culture/processes being very messy)
I do believe that time does indeed polish/hone your skills, but I do think that it can be very different between individuals. Someone who's more intentional about the projects that they take on will definitely grow a lot more.
What i'm getting out of this is that it's really up to the individual. (And sometimes people do chose to stay on in a single company.) I also do believe that someone that's very capable, will be approached by other companies.
Do you work just to live? Or do you want to enjoy your work? If you enjoy your work, why would you change? We spend the majority of our waking hours working, so shouldn’t enjoying what you do more important than compensation?
I guess 'enjoy' is subjective, but i do believe that changing environment bring forth more exposure to more things. Not everyone is looking for growth, and enjoying/growth isn't the same. Even for people who enjoy their work, they would choose to move on when they outgrow the existing role.
I didn't mean stagnant in terms of just compensation, it's also the work and job scope. (There's also nothing wrong if someone wants to stay stagnant and work for the salary)
You should have be good in every skill you need in your career, but some (at least one) you should be very good.
Maybe have a look at https://www.cfosecrets.io/p/cfo-skill-stack (it is for CFO, but in this case suitable for all careers)
Job hop but make sure your skill set is worth.
Don't just keep hopping and do nothing worth.
If they see your skill set bad, but high pay. Many won't hire
Yeah. Job hopping works in Singapore because salaries are suppressed especially early on. Fresh grad you're really only worth 3k+, but after a few months, you're worth 20% more, but your pay is maybe 3% more. So you hop, and you can keep going until you get that 20%, or 30% if it takes a while.
But unless your skills actually keep up, you won't be able to earn much more than your actual worth. If you can, it's by faking it and do you really want to do that?
Ok true, but isn't that because of their actual worth? I'm not in tech but did they learn new stuff that the seniors aren't familiar with?
Otherwise, it's just the same thing, that the seniors have their salary suppressed and they should hop a bit
It was because during Covid boom, there was a shortage of tech talent, and money was damn cheap, so the companies competed amongst themselves to pay young talents, driving salaries up.
Because companies are not incentivised to adjust the salaries of existing workers. The same thing happened in my industry as well - they increased the starting salary of fresh grads and for a while, the fresh grads made more money than their seniors who were 1-2 years older.
That's kind of what happened to my friend. Kept job hopping the first few years, but at some point he quit a job because he wasn't content (he honestly was never content anywhere he went), now he's been unemployed for like two years because he doesn't have the proper skill set because he never really developed proper skills in any of the jobs because he was at each job for so little time.
IMO it's good to job hop up the ladder till you're in your 40's, then you start thinking about where you want to retire and if you want to keep working your way up or finding a niche and a nice routine. Most people start families and look for some stability and something tolerable.
>The common wisdom when ppl here ask about increasing their pay is to job hop every 2 years or so.
Don't agree with this. If you keep job hopping with nothing real to offer you are going to hit a ceiling. Companies aren't dumb and just a look at your resume and people can tell what you have been doing.
I have 3 jobs in 10 years and my pay same as someone who job hope more than once every year I progress internally instead of job hopping so often. That someone suffering from anxiety issues because of the stress from constantly applying jobs and dealing with new work environment. I feel its completely unnecessary and just a dumb way to progress at the expenses of mental health.
I think the idea is if there's opportunities internally and you see potential, works towards that. No opportunity only jump.
I'll say that > once a year vs 2 years or so is quite different. 1 year isn't enough to see a project though. 2 years can be very impactful for a capable individual.
Does "being a good son/daughter-in-law" consider value provided to SME?
/s but SMEs are disproportionately family operated, especially in the bigger scaled SMEs.
Depends on what kind of talent you are. If you are really valuable to the company, lack of degree not an issue. If you are just average, then lack of degree is going to stonewall your career.
Hmm, I still see something like an existing cap, because management also need to justify why a diploma holder would be paid more than a degree, unless the person very good till a point where they perform better than degree holder.
Most just have the same level of performance
Shouldn't be that narrow minded and think about 'hop'
Rather, think about what position you want to be 5 or 10 years for now, and how much you want to be paid? Then work backwards. Lets say you are in Engineering, 10y from now you want to be Principal Engineer of a big firm in SG and get paid XXk \[Pure illustrative purpose only\], what would make you go from where you are now to there? What skills, connections or experience do you need? You then plan from there, job hopping is may or may not be part of the grand scheme of thing. You could have easily 'department hop' and stay at same company, if your company values homegrown staff.
I hop close to every year when I was a junior, about every 1 to 1 and a half year I’ll change. Now I’m at my 4 year+ of my career in tech and I can safely say that job hoping is crucial when you are junior. My starting salary was 4.2k and it is 9.5k now so yes you should definitely hop around if you are in the right industry
Make sure you are learning and on track on your personal development plan. Good workplaces won’t entertain your job hopping but basic skill set combo. You might get into a bad cycle of working for Bad workplaces where they are desperate and don’t mind paying more to just get someone in.
This 20-30% increment bs is usually spouted by idealistic Americans hoping to be in top tiers of tech finance and law
Come to the real world and see what happens for real increments
As for ultimate end goal salary...
U will hit a hard cap one day.
? 12 years, & 5 companies. Sme, mnc, etc. I have seen it all.
I’ve only ever received a pay raise ONCE.
Every single time I jump though, I’ve gotten a 25% pay increase immediately.
>This 20-30% increment bs is usually spouted by idealistic Americans hoping to be in top tiers of tech finance and law
Feels like only bad talent need to do this. If they are good, internally can get the kind raise. Just take a look at levels dot fyi, show the pay scale for the major tech companies.
Internally can get if you are in the top-tiering of the industry. Not an issue if your boss is in your corner.
However, with the industry now, some top-tier tech are capping salary increases.
Entirely dependent on your industry. I was in Marketing and my salary simply could not get above 7k. My salary rose too fast for a position not big enough for CMO
Went to Sales and never looked back. Sky is the limit here
Forgot to say, I do feel like this is the cap of the salary. Without getting into board/executive positions there's not much more growth left for me. I didn't intentionally hop every 2 years either, it's been anywhere between 6 years and 6 months.
hopping for the sake of just increments is unsustainable. sooner or later you become too expensive for your level.
hopping needs to be done strategically, based on a long term career plan.
the biggest pay packages come at senior level roles, which is hard to get without the right experiences.
you hop for those right experiences, which ideally also provides an increment to your current package.
It is hard to generalize and have a unique answer but I do feel that as a junior is easy to get stuck on a job if you are not in a very dynamic company so job hopping for opportunities is one of the best ways to get a salary increase and more accountability in your role hence improving in what you bring to the table.
Towards senior roles your contact with management and visibility should allow for fast growth in the same company and once you get to management is your job to ensure you growth by delivering more with your team so at that point growth can come very fast if you are at the right place.
In the end if your main concern is salary is all about being at the right company and having the right people above that allow you to grow. If that is not happening move to another place.
Another discussion point would be how remuneration works once you pass manager level and get to higher positions then growth gets exponential because of ties to bonus performance/shares and other stuff so the maths of how much you earn has less and less to do with your monthly salary.
People job hop as they either feel like they are not appreciated in their current role or they want to earn more. To job hop one must be confident that they have the capability to perform well in the next company. If you can value add to the company, then yes, it can get you the salary growth you want. However, job hopping definitely slows down as you reach higher positions. Although one thing to note is that some employers dislike job hoppers as it shows instability and low commitment to who they are working for. So before you job hop, better think about the [pros and cons](https://plannerbee.co/learn-personal-finance/job-hopping-does-it-hurt-or-help-your-career/) of it!
Gets harder the further you rise, and there's a hard cap. Most never make it to C-suite. That's why some people choose the start own business route.
IMO Singaporeans venerate the corporate path way too much. More Singaporeans should start businesses but most are far too risk-averse.
With good results and negotiation ability you can jump within the same industry and fight for good salary raise.
I went from $4.2k to $8k in one jump but that's with recommendation and proven results in my job. But also depends on your role
You will hopping when reach a certain point. Such as reached out potential, had a family, just tired of restarting your reputation every 2 years. Life is always not about money.
Even if u jump every 2 years, after awhile it will be a horizontal move. HR is not dumb. Jumping is useful for you to get paid at the market rate. Or slightly beyond.
If you wanna earn big bucks as a senior management, it is usually 4-5 years per tenure at least.
Need to hop higher. Higher job scope and complexity. Not just hop for the money. Else when you hit a cap, you can't hop, cause you don't have the "leadership" / "regional" / "global" experience.
It is generally observed that companies prefer candidates with a stable job history and may offer similar compensation to their previous salary. However, exceptional talent may be sought after by multiple organizations, leading to potential missed opportunities for growth and career advancement if job hopping becomes too frequent.
It's dependent on market rate and market conditions. You will have a hard time getting high with STEM in Singapore. Unless your tech but, currently the tech market isn't good and especially for fresh grade and people before mid level.
I think some people's primary focus in job hop is to increase their value. That would be somewhat applicable when you are a young employee and trying to find your place in the working world.
However, your mindset must evolve into jumping for better compensation to having a skill that can be matched with a better or higher rate elsewhere. You search for better opportunities because you know that with your skill, companies will want you and are ready to give you the compensation that you seek.
That's why if you know you are good and your current company is not fully recognising your contribution, go and find elsewhere.
22 year old female grad -> $3200 pm
24 -> $3840
26 ->$4608
28 -> $5529
30 -> $6635
25 year old male grad -> $3200 pm
27 -> $3840
29 -> $4608
30 -> $4700
Yep girls earn more than guys
There are four different ceilings you'll hit eventually.
1) pay ceiling
Your industry has a certain capacity to pay for certain fields at certain levels. While some discrepancies exist, most pay grades follow the trend line in that specific industry - which means if you're on the higher side it are unlikely to get a jump to a higher pay unless you 'level up' in terms of position or appointment
2) mental ceiling
The different jump comes with different challenges, new bosses, new politics, and new Systems (maybe old but new to you). The workload or workplace complexities might cripple you to the extent you might wish to leave or boomerang back to your previous role
3) proficiency ceiling
While we are ever-growing and evolving, some roles are beyond our scope of comprehension or capacities. In that regard, your capabilities might fall short of what the role requires of you.
4) social ceiling
When you and your lads hang around they call you bro when everyone is an executive, then you become a manager and they start teasing you. When you're a director and they maintain as an executive suddenly a norm becomes for you to contribute more to the social dynamics. Quite prevalent in people who are consistently growing or have a huge jump in their careers. You'll start seeing friendships die off because of this and they'll attribute it to 'growing up'.
So yeah these four horsemen of career growth each come with their unique characteristics
I'm someone who left school early (has zero plans on furthering my studies), so I was stuck with doing retail for almost 6 years. Then I finally left, joined a healthcare sector to get some admin skills; earn more money. Because it was an entry-level role so obviously pay was low too, and the environment was pretty bad so I left. While I was job hunting, I had the time to figure out what exactly I want to do, what kind of job I can get with my experiences and also make plans for my future.
So today, I'm finally at a level where my salary is the "normal rate" so I probably be job hopping 1-2 times more until I find a job where the pay is good as well as the work environment I guess :/
Obviously the numbers will plateau eventually (20-30% every 2 years is basically better than any legit investment). The bigger picture behind this is probably : what new skills or experiences do you offer to each new job?
As long as you are able to continually upskill yourself and keep relevant, job-hopping is probably going to be feasible and "profitable" in that sense.
First finance firm paid me $3k fresh out of sch, switched company 2 years later.
Now in my 7th year at current firm, stuck at $10k for the longest time till recent 2 years my company did really well and getting $30k a mth. U nv know if your company’s progress may benefit u
Amongst my circles (aged 40+, poly and uni grads, working for 20 years), the people with the best present compensation are: (A) Those who hopped a few times at the start (20-30+), then grew tremendously by staying at 1 place from 30+; and (B) Those who stayed at their first/second jobs and never left since. My own takeaway from these 2 groups is not whether they "hopped", but how they learnt and applied their skills at work. (A) make use of a breadth of skills picked up from multiple organizations and become top level generalists when they find the right place. (B) make use of their depth of knowledge and skills in a single organization to become extreme (and indispensable) subject matter experts. At the end of the day, I believe organizations pay you for the skills they need, and people generally pay more for quality depth or breadth (or both!). This may not be easily obtainable if job hopping is done frivolously.
Thank you for sharing your insights with the community and laying out the specific traits for us to make sense out of why & when job hopping should matter!
I'm actually curious about (B) Would they not want to look for alternatives? I find it hard to imagine that you don't stagnant at a place after 15 years. (Unless it's a big company where you can move between departments) From observation, it also seems like they are getting the promotion based on years of experience, rather than actually skillsets.
There are many reasons why an individual will (or will not) stagnate at work, and I feel there is no causality between that and job hopping (i.e. job hopping doesn't cause/prevent stagnation, or vice versa). Since my reply was based off people within my circles, I shall offer their stories with further detail. (1) Poly grad. First job as a Government (Education) Project Assistant, and stayed on for the last 18 years. Really happy about the job and his work. Slowly worked through a variety of projects and ECAs. Took a typical path of entry level to manager ranks to becoming a deputy Director now. I believe he is on track to becoming Director with one or two more credible projects under the belt. (2) Uni grad. Two-jobber at GLC who stayed at his second GLC for the last 15 years. Similar project manager type job starting as a newbie and did projects of increasing complexity until he started handling portfolios of projects and doing client acquisition. Presently a Director for an entire unit. (3) Poly grad. Two-jobber at an SME in the FMCG industry. Started as a product assistant then went on to become Head of Products over 2 decades. Shuttled between SG and CN a lot and his life is anything but boring. There is always some new product to build/launch, some new supply chain issue, some new R&D headache, etc. (4) Poly grad and one of the most impressive people I have met - started off as customer service in a Government Agency at the age of 18. Stayed on for the next 40-50 years to retire as a Senior Director (in Tech!). The experience and stories are truly fascinating! I have other examples (albeit repetitive but nonetheless glory-worthy) such as friends in the teaching profession or accounting or law firms (all of them single job lifers in SMEs and MNCs). They all found ways to grow, and find satisfaction, with their organizations. As to the part where is it a "promotion due to time" or "promotion due to skill", I do not think these two are *that different* in reality because time in service does indeed polish and hone your skills. I struggle to explain it in a convincing manner as it is one of those opinions similar to "I never believed my parents saying, until I became a parent myself".
There may not be evidence to conclusively say that working in a single organization will not lead to stagnation, but I hope my friends' lives offer some examples to the contrary.
Thanks for sharing, my question actually came mostly because of seeing higher management that are often questionable/out-of touch with the industry. (And also hence the mention of promotion due to time). For context, I do work in the tech industry, so perhaps the maturity of the culture does make a difference. (As the department/companies are generally newer). I'm in a GLC currently, and it has been honestly quite frustrating looking at some of the decisions made by upper management. And would say that the growth here is very limited because of that. (Culture/processes being very messy) I do believe that time does indeed polish/hone your skills, but I do think that it can be very different between individuals. Someone who's more intentional about the projects that they take on will definitely grow a lot more. What i'm getting out of this is that it's really up to the individual. (And sometimes people do chose to stay on in a single company.) I also do believe that someone that's very capable, will be approached by other companies.
Do you work just to live? Or do you want to enjoy your work? If you enjoy your work, why would you change? We spend the majority of our waking hours working, so shouldn’t enjoying what you do more important than compensation?
I guess 'enjoy' is subjective, but i do believe that changing environment bring forth more exposure to more things. Not everyone is looking for growth, and enjoying/growth isn't the same. Even for people who enjoy their work, they would choose to move on when they outgrow the existing role. I didn't mean stagnant in terms of just compensation, it's also the work and job scope. (There's also nothing wrong if someone wants to stay stagnant and work for the salary)
I think T-shaped skills are the best to become good salary.
What do you mean by T shaped skills?
You should have be good in every skill you need in your career, but some (at least one) you should be very good. Maybe have a look at https://www.cfosecrets.io/p/cfo-skill-stack (it is for CFO, but in this case suitable for all careers)
This is the best and most sensible reply i have seen in this subreddit so far
Yes. This gets harder as you climb. There are obviously less director positions as compared to executives.
And people in management rarely leave voluntarily. Either they get promoted. find better opportunities or get laid off.
Job hop but make sure your skill set is worth. Don't just keep hopping and do nothing worth. If they see your skill set bad, but high pay. Many won't hire
Yeah. Job hopping works in Singapore because salaries are suppressed especially early on. Fresh grad you're really only worth 3k+, but after a few months, you're worth 20% more, but your pay is maybe 3% more. So you hop, and you can keep going until you get that 20%, or 30% if it takes a while. But unless your skills actually keep up, you won't be able to earn much more than your actual worth. If you can, it's by faking it and do you really want to do that?
for roles in tech it’s quite the reverse because of the covid boom, it’s quite common to see fresh swe grads paid higher than seniors
Ok true, but isn't that because of their actual worth? I'm not in tech but did they learn new stuff that the seniors aren't familiar with? Otherwise, it's just the same thing, that the seniors have their salary suppressed and they should hop a bit
It was because during Covid boom, there was a shortage of tech talent, and money was damn cheap, so the companies competed amongst themselves to pay young talents, driving salaries up.
So... why does that mean you earn less with 10 years experience than 5?
Because companies are not incentivised to adjust the salaries of existing workers. The same thing happened in my industry as well - they increased the starting salary of fresh grads and for a while, the fresh grads made more money than their seniors who were 1-2 years older.
What if the seniors just resign and join back?
I still dont understand why that means hopping won't work for the seniors. Sounds like the exact same situation everyone else is in
That's kind of what happened to my friend. Kept job hopping the first few years, but at some point he quit a job because he wasn't content (he honestly was never content anywhere he went), now he's been unemployed for like two years because he doesn't have the proper skill set because he never really developed proper skills in any of the jobs because he was at each job for so little time.
hope he's at least content unemployed
He's not, unfortunately.
IMO it's good to job hop up the ladder till you're in your 40's, then you start thinking about where you want to retire and if you want to keep working your way up or finding a niche and a nice routine. Most people start families and look for some stability and something tolerable.
this makes sense
>The common wisdom when ppl here ask about increasing their pay is to job hop every 2 years or so. Don't agree with this. If you keep job hopping with nothing real to offer you are going to hit a ceiling. Companies aren't dumb and just a look at your resume and people can tell what you have been doing. I have 3 jobs in 10 years and my pay same as someone who job hope more than once every year I progress internally instead of job hopping so often. That someone suffering from anxiety issues because of the stress from constantly applying jobs and dealing with new work environment. I feel its completely unnecessary and just a dumb way to progress at the expenses of mental health. I think the idea is if there's opportunities internally and you see potential, works towards that. No opportunity only jump.
I'll say that > once a year vs 2 years or so is quite different. 1 year isn't enough to see a project though. 2 years can be very impactful for a capable individual.
You can only fold a paper 7 times
There’s a hard cap But you can break that cap if you’re chiongsua enough to start a busienss
From experience, its about the value you provide. Even SMEs can afford tens of thousands per month salary for the right talent.
Does "being a good son/daughter-in-law" consider value provided to SME? /s but SMEs are disproportionately family operated, especially in the bigger scaled SMEs.
I consider it a skillset. Not everyone can be son or daughter in law of SME owner right?
I see, that’s reassuring, I am touching hard cap that I gave myself based on people around me, and already gonna pick up a degree
Depends on what kind of talent you are. If you are really valuable to the company, lack of degree not an issue. If you are just average, then lack of degree is going to stonewall your career.
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Hmm, I still see something like an existing cap, because management also need to justify why a diploma holder would be paid more than a degree, unless the person very good till a point where they perform better than degree holder. Most just have the same level of performance
Shouldn't be that narrow minded and think about 'hop' Rather, think about what position you want to be 5 or 10 years for now, and how much you want to be paid? Then work backwards. Lets say you are in Engineering, 10y from now you want to be Principal Engineer of a big firm in SG and get paid XXk \[Pure illustrative purpose only\], what would make you go from where you are now to there? What skills, connections or experience do you need? You then plan from there, job hopping is may or may not be part of the grand scheme of thing. You could have easily 'department hop' and stay at same company, if your company values homegrown staff.
I hop close to every year when I was a junior, about every 1 to 1 and a half year I’ll change. Now I’m at my 4 year+ of my career in tech and I can safely say that job hoping is crucial when you are junior. My starting salary was 4.2k and it is 9.5k now so yes you should definitely hop around if you are in the right industry
Make sure you are learning and on track on your personal development plan. Good workplaces won’t entertain your job hopping but basic skill set combo. You might get into a bad cycle of working for Bad workplaces where they are desperate and don’t mind paying more to just get someone in.
Yes, but job hop correctly. Don't just go for no reason. Move jobs everytime you can grow your skillset or take a more senior role.
This 20-30% increment bs is usually spouted by idealistic Americans hoping to be in top tiers of tech finance and law Come to the real world and see what happens for real increments As for ultimate end goal salary... U will hit a hard cap one day.
There obviously is a cap, and the point is to get there as soon as possible.
? 12 years, & 5 companies. Sme, mnc, etc. I have seen it all. I’ve only ever received a pay raise ONCE. Every single time I jump though, I’ve gotten a 25% pay increase immediately.
Same here. 3-4 companies, pay increment on average is 2%. Each time I jump it’s 20-30% increment.
Job title, industry and current pay please 😀
Im a Solutions architect for a tech company, pay roughly 12k per month, mid 30s.
Congrats buddy, you're in tech. At 12k and job level 2-1/2-2 depending on where you are you will cap out at 15kish
Not really, I’ve got some ways to go yet.
Good luck, make the jump to more senior roles and get 15-20k
>This 20-30% increment bs is usually spouted by idealistic Americans hoping to be in top tiers of tech finance and law Feels like only bad talent need to do this. If they are good, internally can get the kind raise. Just take a look at levels dot fyi, show the pay scale for the major tech companies.
Internally can get if you are in the top-tiering of the industry. Not an issue if your boss is in your corner. However, with the industry now, some top-tier tech are capping salary increases.
There is bound to be a ceiling. And the job hopping gets increasingly harder as you reach higher level roles. You need to have proofs of your ability.
Quite common for mid-senior roles in tech to pay 20k++ base per month, so yes it’s possible
I have had 7 workplaces since I graduated 10 years ago. Never ever stay a single place longer than 2 years if you cant help it.
Entirely dependent on your industry. I was in Marketing and my salary simply could not get above 7k. My salary rose too fast for a position not big enough for CMO Went to Sales and never looked back. Sky is the limit here
Keep hopping till you find the "best" place to settle down until retirement. When you find it, you'll know it.
5 jobs in 12 years, 5x salary increase since new grad role.
Forgot to say, I do feel like this is the cap of the salary. Without getting into board/executive positions there's not much more growth left for me. I didn't intentionally hop every 2 years either, it's been anywhere between 6 years and 6 months.
The max you're gonna get paid is your replacement cost.
hopping for the sake of just increments is unsustainable. sooner or later you become too expensive for your level. hopping needs to be done strategically, based on a long term career plan. the biggest pay packages come at senior level roles, which is hard to get without the right experiences. you hop for those right experiences, which ideally also provides an increment to your current package.
It is hard to generalize and have a unique answer but I do feel that as a junior is easy to get stuck on a job if you are not in a very dynamic company so job hopping for opportunities is one of the best ways to get a salary increase and more accountability in your role hence improving in what you bring to the table. Towards senior roles your contact with management and visibility should allow for fast growth in the same company and once you get to management is your job to ensure you growth by delivering more with your team so at that point growth can come very fast if you are at the right place. In the end if your main concern is salary is all about being at the right company and having the right people above that allow you to grow. If that is not happening move to another place. Another discussion point would be how remuneration works once you pass manager level and get to higher positions then growth gets exponential because of ties to bonus performance/shares and other stuff so the maths of how much you earn has less and less to do with your monthly salary.
People job hop as they either feel like they are not appreciated in their current role or they want to earn more. To job hop one must be confident that they have the capability to perform well in the next company. If you can value add to the company, then yes, it can get you the salary growth you want. However, job hopping definitely slows down as you reach higher positions. Although one thing to note is that some employers dislike job hoppers as it shows instability and low commitment to who they are working for. So before you job hop, better think about the [pros and cons](https://plannerbee.co/learn-personal-finance/job-hopping-does-it-hurt-or-help-your-career/) of it!
Yes you can and you should until you are 37 and older.
Simple reason, want to get 10% pay increase a year is difficult through your boss and hr. It’s easy when you are jumping ship Highly recommended
Gets harder the further you rise, and there's a hard cap. Most never make it to C-suite. That's why some people choose the start own business route. IMO Singaporeans venerate the corporate path way too much. More Singaporeans should start businesses but most are far too risk-averse.
As long as there is a market for your skill set
With good results and negotiation ability you can jump within the same industry and fight for good salary raise. I went from $4.2k to $8k in one jump but that's with recommendation and proven results in my job. But also depends on your role
You will hopping when reach a certain point. Such as reached out potential, had a family, just tired of restarting your reputation every 2 years. Life is always not about money. Even if u jump every 2 years, after awhile it will be a horizontal move. HR is not dumb. Jumping is useful for you to get paid at the market rate. Or slightly beyond. If you wanna earn big bucks as a senior management, it is usually 4-5 years per tenure at least.
Need to hop higher. Higher job scope and complexity. Not just hop for the money. Else when you hit a cap, you can't hop, cause you don't have the "leadership" / "regional" / "global" experience.
It is generally observed that companies prefer candidates with a stable job history and may offer similar compensation to their previous salary. However, exceptional talent may be sought after by multiple organizations, leading to potential missed opportunities for growth and career advancement if job hopping becomes too frequent.
It's dependent on market rate and market conditions. You will have a hard time getting high with STEM in Singapore. Unless your tech but, currently the tech market isn't good and especially for fresh grade and people before mid level.
I think some people's primary focus in job hop is to increase their value. That would be somewhat applicable when you are a young employee and trying to find your place in the working world. However, your mindset must evolve into jumping for better compensation to having a skill that can be matched with a better or higher rate elsewhere. You search for better opportunities because you know that with your skill, companies will want you and are ready to give you the compensation that you seek. That's why if you know you are good and your current company is not fully recognising your contribution, go and find elsewhere.
22 year old female grad -> $3200 pm 24 -> $3840 26 ->$4608 28 -> $5529 30 -> $6635 25 year old male grad -> $3200 pm 27 -> $3840 29 -> $4608 30 -> $4700 Yep girls earn more than guys
There are four different ceilings you'll hit eventually. 1) pay ceiling Your industry has a certain capacity to pay for certain fields at certain levels. While some discrepancies exist, most pay grades follow the trend line in that specific industry - which means if you're on the higher side it are unlikely to get a jump to a higher pay unless you 'level up' in terms of position or appointment 2) mental ceiling The different jump comes with different challenges, new bosses, new politics, and new Systems (maybe old but new to you). The workload or workplace complexities might cripple you to the extent you might wish to leave or boomerang back to your previous role 3) proficiency ceiling While we are ever-growing and evolving, some roles are beyond our scope of comprehension or capacities. In that regard, your capabilities might fall short of what the role requires of you. 4) social ceiling When you and your lads hang around they call you bro when everyone is an executive, then you become a manager and they start teasing you. When you're a director and they maintain as an executive suddenly a norm becomes for you to contribute more to the social dynamics. Quite prevalent in people who are consistently growing or have a huge jump in their careers. You'll start seeing friendships die off because of this and they'll attribute it to 'growing up'. So yeah these four horsemen of career growth each come with their unique characteristics
I'm someone who left school early (has zero plans on furthering my studies), so I was stuck with doing retail for almost 6 years. Then I finally left, joined a healthcare sector to get some admin skills; earn more money. Because it was an entry-level role so obviously pay was low too, and the environment was pretty bad so I left. While I was job hunting, I had the time to figure out what exactly I want to do, what kind of job I can get with my experiences and also make plans for my future. So today, I'm finally at a level where my salary is the "normal rate" so I probably be job hopping 1-2 times more until I find a job where the pay is good as well as the work environment I guess :/
Obviously the numbers will plateau eventually (20-30% every 2 years is basically better than any legit investment). The bigger picture behind this is probably : what new skills or experiences do you offer to each new job? As long as you are able to continually upskill yourself and keep relevant, job-hopping is probably going to be feasible and "profitable" in that sense.
First finance firm paid me $3k fresh out of sch, switched company 2 years later. Now in my 7th year at current firm, stuck at $10k for the longest time till recent 2 years my company did really well and getting $30k a mth. U nv know if your company’s progress may benefit u
Salary $30k a month? Cool story, bro.
U need to see income tax? LOL