Job Search Tip of the Week #6 (2019)
Caressa Moy | February 4, 2019 | 9:00 am
When is Leaving a Job the Best Option?
Many people joke about “walking away from it all.” Although fantasizing about leaving your job for something better is a typical way to relieve stress, sometimes quitting is truly the best thing to do. But if you’re considering this type of change, make sure you do it in the right way. Otherwise, you might burn bridges that are vital parts of your career path.
Stay or go?
The average American spends 10.3 years at work — about 13% of a typical lifetime. That’s a significant amount of time, especially when you’re in a job you don’t enjoy.
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Job Search Tip of the Week #5 (2019)
Caressa Moy | January 28, 2019 | 9:00 am
Can you make more money by quitting your job? Recent macroeconomic findings from the Research Department of the Federal Reserve Bank of Kansas City suggest so.
“Unlike wages of stayers, wagers of switchers are much more cyclically sensitive, as contracts signed with new employers are more likely to reflect current economic conditions,” noted economist José Mustre-del-Rio in the research report, “Following the Leaders: Wage Growth of Job Switchers.” “Historically, wage growth of switchers tracks the quits rate, suggesting that as the labor market continues to recover and the quits rate continues to rise, switchers’ wage gains should rise even further as a result of competitive pressures. Consistent with this hypothesis, we find that switchers’ wage growth has been quite strong the past several quarters as the labor market continues to tighten.”
In layman’s terms? More American workers are voluntarily quitting their jobs (in fact, the number of people quitting jobs just hit an eight-year high, according to the Bureau of Labor Statistics), which indicates a steadily improving labor market. And those who quit their jobs to pursue new job opportunities tend to be able to negotiate pay raises above the inflation rate and cost of living increases.
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