What is a significant downside of staying in the same company too long concerning financial outcomes?
Answer
Internal raises rarely match the salary bumps gained by moving to a new organization.
Workers who switch jobs frequently see substantial pay increases, sometimes 10% to 20% or more, which internal raises based on cost-of-living or merit often fail to match, leading to below-market compensation over time.
Related Questions
What question might a recruiter pose today regarding an employee who has remained with one employer for a decade or more?What is a significant downside of staying in the same company too long concerning financial outcomes?What is one of the most commonly cited professional development downsides of remaining in the same position for an excessive duration?What is often cited as the greatest asset brought by a long-term employee?According to a 2014 finding mentioned in the text, what was the median time an employee stayed at one company?How is staying ten years while holding five different roles generally viewed compared to staying ten years in the exact same role?Why can staying too long in an individual contributor role for seven or eight years straight be particularly damaging for an early-career professional?What specific condition, identified in the 'Learning Curve Flatline' audit, signals a need for change regardless of tenure length?In which sectors is longevity often rewarded because the mastery of the craft requires a significant investment of time?When attempting to move successfully after a long run, what should the narrative in interviews emphasize to reframe the tenure?