The pay premium for job-hopping is disappearing—switching roles nearly has nearly the same payoff as staying loyal to an employer

Workers have long been taught that job-hopping is the fastest way to rise through the ranks and secure big pay raises—but the career strategy has lost its edge. 

Professionals who switched jobs this January only got a median pay increase of around 4%, according to a recent Bank of America study. Meanwhile, those who stayed in their roles during the same period received a 3.5% wage bump, according to the Atlanta Fed’s Wage Growth Tracker. 

And the financial incentive for workers to take the leap to a new job has been steadily declining for years, as employees cling to their roles and hiring stagnates. 

“With fewer open roles, the job‑change premium—the extra pay boost workers typically receive when they switch jobs—has started to compress across the board,” the Bank of America Read Entire Article