Most people assume that talented employees who change jobs frequently are always chasing more money. This may be partly true, but is only a piece of the puzzle. It’s true that most job-hoppers can raise their salary faster by changing companies than they can by going through the annual review cycle. It certainly doesn’t happen for everyone though.

According to Legal Technology Solutions (LTS) figures, in a healthy economic market, a 8-10% increase is about average for a job change. Other reports show as much as a 20% increase possibility.

In fact, staying at the same employer for over two years on average can cost you 50% or more in lifetime earnings.

If money is your main motivator for work, then job-hopping can certainly help you along the path, especially if you are early in your career.

Many individuals will actually take a pay cut to change jobs, though. A culture mismatch can drive an employee out the door faster than a smaller paycheck can. Poor work-life balance can also contribute to a job change. Working for a purpose is especially important for millennials. Any of these reasons can cause an employee to accept a lower salary in order to change.

Career Growth

A LinkedIn survey on people who have changed jobs showed that 59% of respondents chose their new company because they saw a stronger career path or more opportunity there.

This is a bit of a given for job changers, but many organisations, especially those with fewer employees, are unable to provide the ability to advance through the ranks quickly.

Changing jobs allows employees to be choosy in the direction they head and avoid any preconceived notions from colleagues about their advancement.

Ability To Change Locations

The ability to move to another city with your current employer does not arise often, but moving due to a job change is common. In fact, 77% of Cornerstone survey respondents considered relocating to another city, state, or country as a desirable career move.

Marriage and home ownership are at their lowest rates among young adults, so job relocation becomes easier and more desirable when people have less holding them in place.

Many new employers will also offer relocation packages to employees who relocate to a new city, making it more affordable to discover new places to live.