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Does job hopping damage careers?

01/01/19

With the economy booming and demand for fiscally-savvy staff in a variety of industries on the rise, job opportunities are abundant and ever-increasing. Research conducted by us at Marks Sattin reveals that those working in the finance industry feel increasingly secure and are more open to moves, with 28% of respondents anticipating changing roles in the next 12 months. But what impact, both positive and negative, does job hopping have for your career?

Why do people job hop?

Changing jobs can be highly lucrative for finance professionals as our research revealed that the average finance professional seeks a salary premium of 15% on their basic package to consider a move – and based on an average salary of £67,083, that would be an increase of £10,062. However, monetary gain is not the only reason why a career-development minded professional would seek to change jobs. A new role or company can provide greater career development opportunities, offering quicker progression into a senior position.

Drawbacks you should consider

Those in the financial business should be cautious not to move too frequently, however. Loyalty is an increasingly important trait and a CV filled with roles occupied for less than 18 months is certain to raise eyebrows. Many employers in this sector make significant contributions to staff development and remunerate generously – which means while they are happy to invest in you, they will actively seek commitment from a potential employee to deem it a worthwhile exchange. Furthermore, those who job hop frequently not only risk coming across as opportunistic, but also as rigid employees who find it hard to adapt to working culture and successfully integrate into a workforce.

Finance professionals should, of course, seek to take advantage of the benefits that changing jobs can bring. However, proceed with caution – too many moves and the offers may start to dry up!

Find your perfect role with Marks Sattin

Make your next career move with Marks Sattin by finding a job you will never want to let go of. We have many years of experience recruiting for the financial services industry and have a reputation for great candidate satisfaction. Look for your next lasting role here or contact us for tailored career advice.

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