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Career Earnings over your lifetime? Comfort costs!

Decisions you make early in your career will impact the earning potential over the lifetime of your career. While job-hopping can be a problem, so can staying with the same company for too long! Be strategic in the beginning of your career and set yourself up for success!

As you start your career, you may be tempted to stay with the same company for a long time. You feel loyal to them because they gave you your first big break. You are comfortable with the systems, people and routine that are part of every workday. Taking a call from a recruiter seems disloyal. Looking for a new job seems like too much work. There are many reasons people stay put but the strategy you apply early in your career will determine how much you have at retirement.

The employee who stays with one company and is a solid team player can expect a yearly increase of between 3-5% which may not even keep up with rising inflation.

The employee who stays with one company and is a go-getter who is promoted several times can expect to see between 7-12% increase each promotion.

The employee who changes companies every 3-5 years can expect an increase of 10-20% with each move!

Using averages, this can create a conservative difference of more than $85K in your first 20 years! And once you have 20 years in, the percentages around increases and bonuses really start to add up.

For a detailed breakdown:!ArnuGV-nLEAcg2zfkPsu2g0rNFx3?e=o084E1

So, bottom line - stay in a role until it starts to feel comfortable and you are doing well. At this point, begin to look for your next promotion. If you don't see promotion at your current employer and even if you do, start talking to people about your next opportunity. Whether you decide to be promoted at a current company or move to a new employer, don't stagnate. In the end, you are the only one responsible for your career. Your time and expertise is valuable so don't trade your future earnings for a comfortable routine.

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