Author Topic: Job Hopping for FIRE?  (Read 2576 times)

ryanht13

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Job Hopping for FIRE?
« on: February 08, 2016, 01:55:03 PM »
I am currently in my mid-twenties, almost 3 years out of college. My first job was a decent place to gain experience, but not a long-term career prospect. I stayed there for a year, but received an opportunity for a 50% pay bump to move to a highly regard sales role for a F500 company in another industry. I have been in this role for 18 months.

My current role requires a 30 minute commute to an industrial area with no good housing within close proximity. It will be a long time before I am qualified for a promotion at my current company due to the flat organizational structure.

I'm looking at two opportunities within my industry that would be another 30-50% pay bump- both are probably a small upward move. One would be a work-from-home setup. The other would require relocation to a large city, but could live within walking distance to work.

Breakdown:

Bachelor's degree

Entry-Level Sales Role- 1 year

(change industry)

District Sales Manager- 18 months

(possible options for 30%-50% pay increase- staying within industry)

*International Sales/Trading in a large city
*District Sales Manager (different product) wfh


I'm currently saving like crazy, but am limited to an extent by my current role. I want to find a way to earn/save more without sabotaging my long-term career prospects. Will this career move hurt me? I haven't been fired from any of my previous roles. I'm just an industrious guy who is always looking to parlay into a better situation. Any advice?

GrowingTheGreen

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Re: Job Hopping for FIRE?
« Reply #1 on: February 08, 2016, 02:25:42 PM »
It's hard to say. If I were looking at your resume, it would raise questions. In particular, I would be nervous that as soon as you found a higher paying job, you'd be out the door. But I'm not in a sales industry. This may be more normal for you.

A rule of thumb out there is don't jump ship before 2 years, but what I'm really trying to say here is "it depends".

neo von retorch

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Re: Job Hopping for FIRE?
« Reply #2 on: February 08, 2016, 02:36:34 PM »
My experience has been that the frequency of my job changes does give some pause to companies, but it also hasn't held me back because I've had understandable reasons for the changes. Reasons like "I'm doing great things in sales, so I've attracted great opportunities" probably doesn't hurt you. If you're good at sales, you can sell yourself, right? :)

The nature of employment tends to be that companies rely on complacency to keep employees, rather than competitive wages. But they'll offer up those wages to attract you initially. If companies care enough about keeping talent for longer terms, they'll have to structure their pay system to match.

ryanht13

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Re: Job Hopping for FIRE?
« Reply #3 on: February 08, 2016, 02:45:49 PM »
I don't want to be biased and defend myself, but each move I've made would be an upward move. I've learned a lot in both previous roles and provided measurable value to both companies that I've worked for.

I guess I'm a stereotypical millennial!

If I took either of these positions, I'd be making a 6-figure salary before my 25th birthday. I think that shows that I produce a high level of results and have the talent for executive/management potential. My goal is to earn even more than that one day through an executive/management role, so I don't want to be short-sighted about the money if it will end up costing me big bucks down the road!

Papa bear

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Re: Job Hopping for FIRE?
« Reply #4 on: February 08, 2016, 02:53:35 PM »
Usually job hopping would be a negative.  However, in sales, it can be pretty expected that you will go to the highest bidder.   For a 30-50% pay bump, go for it.


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JLee

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Re: Job Hopping for FIRE?
« Reply #5 on: February 09, 2016, 12:11:45 PM »
Usually job hopping would be a negative.  However, in sales, it can be pretty expected that you will go to the highest bidder.   For a 30-50% pay bump, go for it.


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This must be highly dependent on industry. In IT, staying with the same company for your entire career is a good way to make a lot less money than you would otherwise.

My experience has been that the frequency of my job changes does give some pause to companies, but it also hasn't held me back because I've had understandable reasons for the changes. Reasons like "I'm doing great things in sales, so I've attracted great opportunities" probably doesn't hurt you. If you're good at sales, you can sell yourself, right? :)

The nature of employment tends to be that companies rely on complacency to keep employees, rather than competitive wages. But they'll offer up those wages to attract you initially. If companies care enough about keeping talent for longer terms, they'll have to structure their pay system to match.
Exactly.

mtn

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Re: Job Hopping for FIRE?
« Reply #6 on: February 09, 2016, 12:15:55 PM »
I'd shoot for at least 1.5 years in each position, with a few positions holding on for 3 or longer.

Times are changing. My dad has worked for 5 companies over his career, but the last 3 were effectively the same (Company A, then Company B was spunoff by A, then Company C acquired A). I've been in the workforce for about 3.5 years now, and am already on my second company. I'll be looking to jump in another half a year or so, mostly because that is how you can get the bigger salary bumps (the first jump was a $20k increase, although COL increased as well).

As a young employee, I don't think it looks bad. If you're in your 40's, it probably is starting to look worse and worse. I think a great part of being a mustachian is that you likely won't get to the point that it will start to look worse and worse.

Papa bear

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Re: Job Hopping for FIRE?
« Reply #7 on: February 09, 2016, 12:22:30 PM »

Usually job hopping would be a negative.  However, in sales, it can be pretty expected that you will go to the highest bidder.   For a 30-50% pay bump, go for it.


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This must be highly dependent on industry. In IT, staying with the same company for your entire career is a good way to make a lot less money than you would otherwise.

My experience has been that the frequency of my job changes does give some pause to companies, but it also hasn't held me back because I've had understandable reasons for the changes. Reasons like "I'm doing great things in sales, so I've attracted great opportunities" probably doesn't hurt you. If you're good at sales, you can sell yourself, right? :)

The nature of employment tends to be that companies rely on complacency to keep employees, rather than competitive wages. But they'll offer up those wages to attract you initially. If companies care enough about keeping talent for longer terms, they'll have to structure their pay system to match.
Exactly.

Sorry - to clarify for the OP, from a recruiters point of view, job hopping will be seen as a negative.  They will question if you will stay with the organization or jump at the first chance for an extra dollar/hour. 

In sales, however, job hoppiness is much more common as individuals tend to move to who will pay them the most for their effort. 

I agree, in most industries and companies, your best way to increase your base salary is to leave the organization for greener pastures.  But you must weigh that with the number of "jumps" in your career.   

For the OP, in your situation, you should go after the paycheck. It's expected in your industry and the jumps won't be seen as a negative. 




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