Same job since college graduation - switch to diversify?

[BiggerFishToFI]

I've had the same job since Jan 2012 (graduated college 2011). The raises have been generally generous of about 8-10% per year, I started at 50k base and am currently at 81k base. Total current compensation with overtime, 401k match, health insurance and bonus is ~108k.

I've recently had the itch to change things up for diversifications sake, even though these 8-10% raises are likely to continue for the foreseeable future. I for the most part enjoy my current job and coworkers.

How much value would you place in switching up jobs solely to diversify experience / open up other opportunities? I'm worried if I take the easy route of just coasting with my current company I may regret it down the road.

On the other hand, I may regret giving up 8-10% yearly raises as that is on the high end of what is typical.

[TheAnonOne]

In my experience you can switch jobs and get an instant 30% raise rather than accept whatever your employer 'gives' you.

It cannot hurt to look, but chances are you can probably make 100k at your next job and you just don't know it!

[Calvawt]

typically you would be worse off than someone who has moved at least once, but since your raises have been about double what most people receive (ignoring promotions) you probably aren't that far from market.  If you don't have a promotion opportunity in the near future, you will probably soon be at a disadvantage versus your peers in terms of lifetime compensation.

I would encourage you to talk to a recruiter that specializes in your field.  They should be able to tell you if you have opportunities for more pay, a better title, or both by looking around.

[Jouer]

I came here to say "get out!" but 8-10% raises are pretty sweet. If you see upward movement there, I'd say stick it out. My wife has been with the same large company for 15 years and loves it. She's done very well for herself.

[boognish]

I started working the same time as OP, and am now making almost the exact same salary, but am on job #3. I didn't get the same steady increases, and instead job hopped every couple years for ~20% increases. Fresh challenge every couple years has been more fun I think, but depends on the company.

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[exige]

I recently made my first change from my first after college job and it was a 30% increase and 3 days a week from home.... Could not have worked out better, like others have said I was just exploring options seeing what was out there and it just happened.

[soccerluvof4]

Financially it cant hurt to look.  But look at everything.  Sit down and think of the things you really would like, what your willing to give up or not and then look around. Pro's and cons if you move vs Pro's and cons if you stay. Go through the process and see what your worth. Visit with a headhunter. Bottom line is I think you will always wonder if you dont look and you will either validate staying or going. 

[Schaefer Light]

I think it depends on how much you like your current job.  I wouldn't leave a job I liked if I was getting 8-10% raises every year.

[J Boogie]

yeah, 8-10% a year is awesome.

I work at 3M, coming up on 5 years.  I plan on staying.

I think in some places, the longer you stick around the more they underestimate you and pigeonhole you.  In other places, the longer you stick around, the more they see you're committed and the more they trust you with bigger roles.

I was a little impatient about my position, as I had in many ways more responsibility than my peers, and I wasn't given enough freedom from my other tasks to focus more on this responsibility which I saw growth potential in, but a couple years went by and now I'm basically defining this role and have received promotions and have been promised more.

If your company is the type that prefers to hire/promote from within for the most part, than it's worth staying at.

[J Boogie]

I'd also add that you should diversify if you believe your company or your industry has a doubtful future.

If they have a history of 8-10% raises I imagine this isn't the case but you never know.

[Millennialworkerbee]

Im in a similar position, although a little bit behind you (2013 grad). In my first five years of working I've managed 7% annual increases- but the way promotions are structured here, I anticipate this slowing down to 4-5%.

I think I am staying put for at least a couple of years because of several non-salary factors (no overtime, 10% retirement contribution by my company, awesome maternity leave).

8-10% is a good salary increase, I'd think about some of the non-financial factors about your job. If you like the culture (I'm guessing you do since you're still there) and you see promotions down the line, I don't think it's bad to stay.