This is approximately a 330% increase over a 10 year career.
Over 10 years, she’s changed employers five times to ultimately earn $72,000 per year at her most recent marketing position. Jessica Derkis started her career earning $8 per hour ($16,640 annual salary) as the YMCA’s marketing manager. I have seen many coworkers who were waiting on a certain title and finally received it the day they left and were hired at a new company.”Įven more importantly, when I asked Devine her thoughts on employees who had remained in the same company for periods long past the two year mark, she explained that she did feel that some were “underpaid” or had the potential to earn more. However, if you apply to another company, your skills may match the higher title, and that company will hire you with the new title.
Once you are entrenched in a company, it may become more difficult to be promoted as you may be waiting in line behind others who should have been promoted a year ago but were not due to the limit. Some companies have a limit to how many promotions they allow each year. Companies competing for talent are often not afraid to pay more when hiring if it means they can hire the best talent.
However, if you move to another company, you start fresh and can usually command a higher base salary to hire you. There is often a limit to how high your manager can bump you up since it's based on a percentage of your current salary. The problem with staying at a company forever is you start with a base salary and usually annual raises are based on a percentage of your current salary. I found that the people who had switched companies usually commanded a higher salary. Intuit and other Fortune 500 companies explains, “I would often see resumes that only had a few years at each company. Use the career and money advice in The Millennial Game Plan to get and stay ahead for good.īethany Devine, a Senior Hiring Manager in Silicon Valley, The Forbes eBook To Succeed In A Brutal Job Marketĭon’t let a rotten economy spoil your goals.
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