She's On The Money - Job Hopping to Increase Your Income

Episode Date: August 29, 2023

The rise of job hopping is changing the landscape of employment, with companies needing to adapt their retention strategies to keep employees engaged. And while loyalty and engagement with your workplace is important, often the most effective way to get the salary increase you want is by changing jobs. So today we unpack this concept and look at some of the pros and cons! Acknowledgement of Country By Natarsha Bamblett aka Queen Acknowledgements. The advice shared on She's On The Money is general in nature and does not consider your individual circumstances. She's On The Money exists purely for educational purposes and should not be relied upon to make an investment or financial decision. If you do choose to buy a financial product, read the PDS, TMD and obtain appropriate financial advice tailored towards your needs.  Victoria Devine and She's On The Money are authorised representatives of Money Sherpa PTY LTD ABN - 321649 27708,  AFSL - 451289.See omnystudio.com/listener for privacy information.

Hello, my name is Natasha Nabanunga-Bamblett. I'm a proud Yorta Yorta, Kernai, Wolperi and Awadjeri woman. And before we get started on She's on the Money podcast, I would like to acknowledge the traditional custodians of the land of which this podcast is recorded on Awadjeri country, acknowledging the elders, the ancestors and the next generation coming through. As this podcast is about connecting, empowering, knowledge sharing and the storytelling of you to make a difference for today and lasting impact for tomorrow. Let's get into it. She's on the money.

She's on the money. Hello and welcome to She's on the Money, the podcast for millennials who want financial freedom. My name is Bec Syed and with me is Victoria Divine. Hello! Divine Victoria. Yeah, it's a good name, isn't it? Thanks, Mum. Cheers. It is a very good name.

I say thanks, Mum, not Dad, because it obviously came from my dad, but my mum chose to marry him. Oh, well, good on you. Good decisions from women. Good on you, all the Divines, to be honest. Yeah, it's a group effort. It's a group effort. Now, Victoria Divine, Divine Victoria, We've shared on the pod before that I've done a fair few different jobs in my life. You have?

A fair few. It's relatively impressive. Thank you. I'm kind of getting over the embarrassment of it. I used to be quite embarrassed, but now I'm like, that's cool. I've done like a million jobs. Why is it embarrassing? I don't know.

It's just like something you don't really hear of. I'm like, I was a kitchen hand for five seconds and then I was a barista for five seconds and then I was this and then this and just like kept jumping and jumping and hopping around. You're just working out what you like. Totally. Which I quite like. Thank you.

that's much better than just getting into a job and being like, can't leave because I just started and this is trash. Yes, that makes sense. Like everybody else. So like, who's winning? Bex winning. Thank you. That's a very good way to reframe it. This is relevant today because we are talking about something that involves changing your career on the regular, but in a strategic way. So just hopping to literally increase your income. I feel like it's necessary nowadays, hey? Yeah, I think so. It's really frustrating, but the rise of job hopping is changing the landscape of employment with companies needing to adapt their retention strategies to keep employees engaged. While loyalty and engagement with your workplace is really important, often

the most effective way to get the salary increase you want, sadly, is by changing jobs and companies. So let's face it, many salaries are unfortunately not keeping up with inflation and lots of people are considering leaving. Let's talk about it. Sorry. It's an interesting concept and it makes me really sad. Side note, I used to work in employee engagement and satisfaction. Like that used to be my job. I used to be seconded into other companies. We used to do employee engagement surveys and then I would implement strategies to increase engagement. And it was tightly, I guess, correlated with remuneration, right? Right. So like, I know a fair bit about this and this is why it annoys me because I'm like you guys unable to read like pay your people properly and they

won't leave you yeah good strategy yeah I mean it's not the only strategy but from my perspective it's funny because there's a good one three factors that I think play into employee engagement say stay and strive okay if somebody was like at a barbecue on a weekend and they said hey Beck tell me about your job I would want you to be saying good things about the company not in my presence so I'd want you to be like oh yeah it's a really good company like they treat me well they you know remunerate me properly for the work that I do the second point is stay so you want to stay with the company you're not looking for another job and the reason you want to stay is because all of your quote hygiene factors are being met so for me a hygiene factor is kind of

like you're being paid enough to live a reasonable life. You're being paid enough for the job that you're doing. You are being paid for the jobs that you are undertaking. And then strive. So that's the like last point that I think is a real key indicator of whether an employee is willing to stay or not. Strive is that above and beyond. Like is that employee going above and beyond in their job? We're not saying, oh my gosh, are they staying till 10pm? Because I don't think that's a reflection of work ethic at all. I think, again, side note, if you can't do your job within the 38-hour week that you've been allocated, there's one of two things happening. Either I, as your boss, have given you too many jobs for that period of time and I'm taking advantage of you, or you,

as the employee, you're just dragging your feet and you actually have to spend a whole heap of time outside of work hours to get the job that I allocated you done. It's one or the other. staying till 10 p.m not sexy no like above and beyond is more you're willing to put the time energy and effort in i'm not expecting you to work six million other hours right to be clear so it's interesting in 2023 when we have access to all of the information all of the data that says these are the three things that really play into employee retention people like nah nah i'm better than that. People do not realize how bad it is. And then they're like, oh, I'm so surprised Beck quit. She said she was going to a different job and like, I'm just so surprised. I thought she

loved her job. Yeah, but you are underpaying her. And when she asked for a raise, you said no. And then she found out that her friend who had recently started and she'd trained got paid more than her. She was just done with your shit. Yes. The problem is you, babe. It blows my mind. And I know that this concept is going to be new to some people in our community but also not new at all to a lot of people because a lot of the times we've had really nice money diarists on the show talking about how they left a role to increase their salary or they left because they weren't being respected or remunerated in the way that they should have been and I just think today let's look at a few things. Let's look at the concept of job hopping, let's look at the outline of the

best way to do it and also look at the potential pros and cons to get you really thinking about whether it might work for you because it's not the 1950s anymore. You don't join one company and work there until you retire anymore. It's just not what's going to happen, Bec. It's not going to happen. That's very maybe 1950s. Perfectly because what I've done is I've looked up some stats for you. Stats gal.

And I wonder if you're keen to hear. I'm so excited because I know some of the stats already. I don't know what you've found though. So dig them up. Show us what you've got. Okay, so I've written these down. So if it sounds like I'm reading, it's because I'm reading. It's because you're reading.

So according to a study by USA's ADP Research Institute in 2021, that's a mouthful. Yeah, makes sense. Makes sense. In 2021, job switchers saw their wages grow 5.8% year over year in June, while job holders experienced a 3.1% gain derived from payroll data of 18 million workers. So the maths is quite clear.

You leave your job, you get paid more. Job hoppers get paid more. Job stayers, maybe. Some get paid more. No, but they get paid less. The science is sciencing. Yes. I mean, they get a pay rise, but maybe rarely.

I don't really know what all this means. Stop trying to back the employers right now. That's true. I'm just a big fencer. I'm getting splinters. So back home here in Australia, over 55% of Aussies have been at their current workplace for less than five years while just one in ten have been with the same company for over 20 years.

That's refreshing, actually, because, you know, when you speak to, like, middle-aged? No, get rid of that. Maybe I shouldn't say it. Let's not get rid of that. Let's keep that. I love that. I think I'm middle-aged now.

But it's true. This is the problem. No, no, no, I think it's true. Like, people of my parents' generation were much more likely to stay in a job for a significant period of time because, for them, loyalty paid off. True. Whereas I don't think loyalty pays off in the same way that it used to. And that's actually

really sad because, you know, I don't know. I look at it from two perspectives, I suppose. I used to be an employee and I have had those conversations where I've said I need a raise and I've had it declined. I'm also now an employer and I have two different teams in which I employ more than 30 people. So these conversations are things that I deal with literally every single day in the background. And I don't know if it's my personality. I don't know if anybody else is like this because I get, maybe it's the ADHD thing. Do you know that people with ADHD have a higher sense of justice than anybody else? Like it's actually not just ADHD, it's neuro spicy friends across the board, whether you are on any type of spectrum, you have a higher

sense of justice. So if you see something that is wrong, you're more likely to get involved in the fight or not like it or not agree with it. And I think that that could play into this, but it just really frustrates me that if I have good employees, the idea that they would think that they weren't properly remunerated, I'm immediately like, Bec, I want to talk about it. Like, I want you to be so happy with your salary because you know that it's a reflection of your capabilities and what you've put into the role and what the role is worth. And we have these open, honest conversations and I don't think that should come as a surprise I mean I am she's on the money but it blows my mind when I hear from people in our community that they don't get the same grace of having

those conversations with their employer their employer might go oh well Beck I can't afford that you kind of like well if that's the case you can't afford me like and I know a lot of people are going to get up in arms and they might say oh V but small businesses can't afford to just give pay rises, it's your responsibility as well to find a way to remunerate your employees so that they have a living wage. That's true. Your employee chose to be an employee for the stability. Yeah. Otherwise, everybody would have their own businesses, right, Bec? Like everybody would be out on their own because the idea of business is that you make more than an average salary. Otherwise, why bother? Right. So why would you not have these open, honest conversations with

your employees but at the same time I completely understand like sometimes your hands are tied in which case why aren't you having that conversation with your employee Beck oh my gosh things are really stretched at the moment I know I should be paying you more but I just can't cut it right now yeah at least you know where you stand and that gives you as the employee the opportunity to go well actually that's not good enough for me at the moment like rising cost of living. I can't really afford things. I might just start looking for a new role. Or you might go, no, it makes sense. I really respect that my employer has been so transparent with me. I'm actually kind of happy with the income. It would have been nice to have more, but like,

I'd much prefer to like work at this company that I adore than go somewhere else just for higher pay because everybody's values are different, right? So there's not a right or a wrong, but I think we need to be transparent. And I don't think in 2023, most people are. No. So it blows my mind that people expect loyalty without giving back loyalty to their employees. So true. That makes so much sense. Makes me mad. It makes me mad too. I'm actually kind of having a bit of an epiphany as you say that. I'm like, I think I have a lot of ADHD tendencies, maybe neuro-spicy tendencies. I already told you. This is so wildly inappropriate and I should not be diagnosing you. But the second I met you, I was like, oh, neuro-spicy friend.

We both spit on our chairs while we record. We can't keep still. I'm making paper cranes across the table. I'm gifting them to you. We have fidget toys that have now been confiscated because we make too much noise with them. Like, babe, I'm really sorry to tell you this, but you are on some spectrum. I'm not sure which one it is. That makes sense.

That makes sense. The one that really tipped it over the edge for me was the injustice thing that you said before. Yeah, the injustice. It makes me cry and it makes me so, I can't express myself. I can't let it go. I can't let it go. I become obsessed with it.

So I'm going to maybe look into that. But V, before I do, I have one more thing for you. All right, stats girl, show me. So in February 2022, 1.3 million Australians changed jobs, accounting for 10% of employed people, which was the highest annual job mobility rate since 2012. I am not surprised. Do you know why I'm not surprised? Why?

Because that was coming off the back of COVID. True. so it was like I don't know I feel like lots of us were in the exact same position during COVID where we're like we've got a secure job I'm not going to quit my job right now because if you've got a job that's stable like don't mess with something that's not broken especially at a time where there's not a lot of economic stability and you're not really sure what's going on so I think a lot of us had let's call it those two years of thinking time during COVID to go do I want this do I not and a lot of us were kind of like teeing up okay well when this COVID thing's

over I'm going to find a new job and I feel like when it started to be over everybody got a little bit more comfortable and then the new year happened and the end of January came and then February bam I'm still in that dead-end job that I don't want to be in yeah I'm going to move so that kind of makes sense as to why it was the biggest transition but I think we got a lot of what would you say like exposure or like insight into our employers and how much they actually respected us or not during COVID. Yes, I definitely agree. And at least it kind of like let us figure out if this is really what we want. It kind of was a time for everyone to really reflect on what the hell we're doing. Yeah, what are we doing? And most of us ended up working at home on jobs that we might

not have liked. Yeah. And that, I don't know, if you have a job that you don't like and the only reason that you're really staying was for the culture, that makes it even worse. Totally. So V, let's break down the advantages of a job hopping. All right, let's talk about it. So salary increase is one of the advantages, right? So you can earn more moolah. Kind of sexy. So when you stay with the same company for an extended period of time, your salary increases are often limited to standard raises and annual performance-based ratings, right? By moving to a new employer, you could negotiate a higher starting salary based on your updated skills or experience or the market demand. Miss Jessica Ricci, who we know and love, has said before, I don't know how

I feel about this as her current employer, that whenever she goes for a new job, she just asks for 10% more as a base to begin with. Because she's like, I'm not leaving for less than 10% more. It's always worked for her. Yeah, I love that. I kind of love that rule. I am the type person that I think that's good. Please don't leave me, Jessica. I'll negotiate your pay with me. But it's one of those things that just have some balls. You want to move jobs back and you've done this job for a little while, just tack on an extra 10K. Yeah, that's actually very, very smart. I think it's quite intelligent. The next, skill diversification. So job hopping, it's going to expose you to a variety of different work environments and industries and technologies,

Like, what you've gone through, Bec. Yes. Like, I feel like you're the office all-rounder. Like, are you not the person that if shit is hitting the fan in this office, who do people come to, Bec? I'm God. You God. Well, I guess you could say I'm pretty much of a big deal.

I'm pretty popular around here. Definitely just kidding. But, yes, you're not. I think that I've learned some things around here. No, you're like the person that everyone's like, oh, can you get Bec? Bec might fix that. Like, where is the lie? That is very nice.

Where is the lie? That's what they say. I don't see no lie. Exactly. So each new position, it presents an opportunity to learn a new skill or have some more experience or expand your expertise, which potentially makes you more valuable to future employers. What would this office do without you, Bec? Crumble.

Exactly. Crumble. Exactly. The next pro is career advancement. So switching jobs relatively strategically could actually lead to faster career growth and increased responsibilities, which is kind of nice. new employers might recognize and reward your previous experiences leading to quicker promotions and elevated positions yeah okay how many times have we seen it internally where if beck like

let's pretend that you're in a stock standard role which you're not and you're like i'd love to move up to the manager position right but like the manager position's taken but the company really likes you and they want to keep you in that role so they keep telling you yeah beck we'll train you we'll do this we'll do that but you also know Annalisa has that job and Annalisa hasn't left and Annalisa doesn't have any intention on leaving because Annalisa loves her job and that's her dream job so you actually don't have a lot of opportunity but that company is probably going to keep telling you oh back you up at the point at which you're ready we can move you up it's not going to happen like let's be logical yeah it's a bit sad but it's a bit true yeah the amount of

recruiters are going to be so mad at me oh my gosh can't wait for them to flood my dms and be Victoria that's not true we remunerate people can't wait can't wait are you scared no sit down sit down am I ever scared no that's true I've never seen you ever shake a boot no I definitely get scared sometimes I get so scared I cry oh but I'm not scared of people telling me oh that's not how it works in my company because I go wow then your experience must be a unicorn and I'm so proud of you, but that's not the experience of absolutely everybody. It's like when people say, I've never experienced racism,

so it must not exist. You're like, okay, Craig. Yes. Paul Kelly? I don't know if that's a real name. That's a real name. He's a real person. You can't say that.

Sorry, Paul Kelly, whoever you are. I just thought that was the whitest name to ever exist. No, no, so not Paul Kelly. I didn't realise Paul Kelly was a real person. Could you make a public apology to Paul Kelly, please? I can't. All the Paul Kellys ever exist. Yeah, but do you know what is worse?

He lives on the peninsula back. Paul Kelly? Yes! I've probably been to his house before. Yes! You probably know his daughter. She went to Turack. I probably know his daughter.

He's coming for me. And not only that, but I hear he sings about racial divide. Yeah, he does. So he's an ally. Yes! I'm so sorry, Paul Kelly. That's just the only name I thought of and that's so weird. I am arguably cackling because that was, I don't know if it was inappropriate, but it was funny.

I'm very sorry. I reckon he might be on the spectrum because he's definitely got that sense of justice about him too. I love that. But I don't even know where we were. So let's move on to the next point. Yeah, absolutely. The next point that I've written down, Bec, is better negotiation skills, which I think are really important, actually. like in life in general, to be able to negotiate is a skill. That's why it's called negotiation

skills, right? And job hoppers tend to develop stronger negotiation skills as they navigate various job offers and conversation packages. And that is actually really powerful because it can put you in a better position long-term. So being able to negotiate, Bec, means that you're better at self-advocating. And I think that that is a really, really good skill to have. You're more likely to be like, oh, that's actually not right. How do I negotiate this? And I think that's kind of sexy. So not the worst thing. And then the last thing I've written down is networking opportunities. So job hopping could help you build a broader professional network, which is kind of good. If done right, it could lead to valuable connections and potential career opportunities

in the future. I love that. I also love that. And this is a really good place to go for a really quick break. Yeah, we're going to go listen to some Paul Kelly. We're going to educate you a more. I think I need it. And then when we come back, we can talk a bit more about job hopping. Perfect. Don't go anywhere. Bye. Okay, V, we are back. We've listened to some Paul Kelly. Yes. And

we've jammed, we've lived, loved, and laughed. Yeah. And we're coming back now to what we were talking about beforehand, which is job hopping. Job hopping. So, I notice that you say the phrase if done right, but how do we do this right? That's such a fickle conversation, isn't it? So I've written down a few things that I think

you need to do to do job hopping right. Because I think sometimes we get a little bit excited and go, oh, I'll just change jobs. And then it's not what you dreamed of it being like the grass is always greener. It's like, let's just check that the grass is greener before we actually make a big decision. Because job hopping, as much as it is of little to no consequence long term, short term, it could make a massive difference. So first things first, big one, but I want you to define your career goals. Make them really clear, Bec. I think it's so important to understand what you're wanting from each move and how it actually aligns with your ultimate objectives. Maybe you're just changing because you're bored of the job that you're in and that's actually okay

to say, I don't actually like the job that I've got. I want to try something different. That's fine. You might say, I want something different. And to be honest, I don't know what I want to be when I grow up, but this feels good. Understanding why is really important. Continuing to upgrade and invest in your skills. So the more valuable you end up becoming in the job market, Bec, the higher salary negotiation power you have. The more stuff you can do, the more flips you can show, the more money they're going to pay you. I love that. Money win. Establishing a strong foundation is really important. It is essential to have a solid work history, and a few years of experience in your field before considering job hopping.

So employers definitely value stability and commitment early in your career. And I think having a really strong narrative if you have left jobs early is also really important. Because people are going to go, Bec, why did you last four months there? Oh, I didn't like it. I was bored. That's probably not going to fly in an interview in the way that you think it might. But saying, look after four months i didn't want to waste any more of their time or any more of my time i just knew that that was not the job for me and that's why i'm sitting in front of you because i've done my research and i understand what your job entails and i feel like that's such a better fit

yep instead of i got bored because that's just not going to cut it honestly if someone said that to me i'd be like pretend it's something else sure because you don't know that they'll get bored with you and exactly exactly and i think just being able to articulate yourself well right makes sense. The next is timing matters. So avoiding job hopping too frequently or without substantial achievements. So a general rule of thumb is to stay in a job for at least one or two years before exploring new opportunities. We're not saying stay 10, but like one or two years, I think at a minimum, you pass probation in that job before you think about leaving. Because if you're leaving within that first six month period, if that's what your probation looks

To me, that can be a little bit of a red flag, especially if there are a number of them. Because you kind of go, why is Bec not making probation? Right, right. She might have quit, but was that her choice? Right, okay. Do you know what I mean? Yeah, I see what you mean. The next is evaluate company culture and growth opportunities.

So look for companies that offer room for growth and mentoring programs and supportive work culture. Don't solely focus on salary. Consider the overall potential of your career advancement. because we know that more money does not equal more happiness. As much as you might think it might fix everything and it might make things a little bit more comfy in the really, really short term,

it's not going to solve world hunger. No, and maybe more money, more problems. More money, more problems. The next is network and build relationships. Networking plays a crucial role in job hopping success. So attend industry events or conferences that are related to your industry. attend job fairs to connect with potential employers and industry professionals the other

thing that I adore and I've said this on the podcast one million and one times Beck I love LinkedIn I mean she's a LinkedIn girl I'm a LinkedIn queen I mean I'm not that active on it nowadays because I just don't have time but when I was in that phase of finding new jobs and looking for new opportunities you know how much creeping you can do I love a creepy LinkedIn stalk like Oh, I want Bec's job. I'm going to go see what Bec has done before that job. How did Bec get into that job? So she worked at ARN and this job and this job, and now she has this one.

Oh, that's kind of cool career progression at that company. Maybe I'm interested in that company. That could be cool. That's interesting. It is scary, though, when you can see the little notification that says Victoria Divide has been. No. You just turn it off.

But what if you don't want other people to see that you've visited? You just turn it off. Oh, can you do that? Yeah. But if you turn it off, it means that you can't see who's visited your profile, but they can't see you either. So it's like a two-way street. You can't just have it one way.

That's very good to know, actually. Also, Bec, who cares? That's true. No one should care. After this, I'm going to go straight back to creeping. Yeah, like go back to creeping and you can creep anonymously, which we really like. But I also think what's the worst thing that could happen if somebody saw that you were on their profile?

They go, oh, Bec's interested in working with me. Oh, Bec's interested in my job. true. Cool. You know what you should do? Make it a little bit more creepy, Bec. Why don't you reach out to them if you think they're a cool human being and you want to know more about their job? Do you know what people love doing, Bec? What? Talking about themselves. Oh, people love talking about themselves. So if I reached out to you, I said, oh, Bec, your job looks so cool. I'd love to know more about how you got to where you are. Can I buy you a coffee? I think I would like that. I see what you mean. Yeah. Okay. Well, maybe you don't try that. Exactly. And you know what? Then

you get to meet someone maybe in a job that you aspire to have, or maybe in a company that you're like, oh, I've been looking at this company for ages. And you know, there's a few roles being advertised. Like, oh, got a little internal reference now, do you friend? True. Work smarter, not harder, Bec. I love that. All for the cost of a coffee. That's great. Great advice. Call me, LinkedIn, call me. The next is craft a compelling resume and cover letter. So customize your resume and cover letter for each application, highlighting your relevant achievements and experience that align with the potential employer's needs. Now, I need to admit, got in a fight the other day on TikTok. Oh my gosh. I'm really good at it. My husband says I need to be less spicy. What

happened? So the first one was about, it was like a bolognese recipe that went up on TikTok. Okay. And I knew that I was starting a fight when I said, when does the Vegemite get added to the bolognese recipe? And all the Americans jumped down my throat and said, that's not traditional. That's not nice. As if deep dish pizza is traditional. But then a video on Cheese on the Money went up about resumes and cover letters and how I approach resumes and cover letters.

And I sometimes only read your cover letters because I think it's really important to hire for cultural fit. And I want to know how passionate you are. And so many people in that comment section were like, well, I got my job without a cover letter. I've never written a cover letter. I've never done this. I've never done it.

I don't care. Right. You're telling everyone what your experience is. I'm giving you some examples of how you could put your best foot forward. And do you know what does that? A really well-written cover letter. Right. Because do you know what happens in jobs that are actually wanted and really good jobs?

There's a plethora of applicants. How do you put yourself above and beyond them? by making a clear and concise cover letter that explains exactly why you think that that is the job for you. Yep. Like, I know that some places go, just flick through your resume. Do you know what? If you're finding a new job, take the time to write a cover letter. Yeah. Do you know how easy it is nowadays with ChatGPT? True. Like, have ChatGPT write you a template that you can edit. Yeah. Like, do something because at the end of the day, I think it actually puts you in far better standing to actually secure the job. I don't care if you've got your job without a cover

letter or a resume before. That's not what we're talking about. Like this episode is about job hopping. And if you're job hopping to raise your income, there has to be some level of work associated with that. Bec, you want to earn 10 more grand. And if I tell you that sitting down, you're going to be a far better opportunity to get that job. If you sat down, maybe spend a couple of hours on writing a really, really nice resume and cover letter. Is that worth your time? I would say so. Exactly. Do you know what's not worth your time? Not caring about the little things, because the little things sometimes are the really big things.

Right. And I know that I'm not the representation of every standard employer in Australia, but I can almost guarantee that every recruiter and every person who's ever gotten a cover letter appreciates it. Totally. Why not? It's saying I've put more time and energy into this application than any other applicant. Yes. That's a very sexy thing to do.

And who's it hurt to just chuck a cover letter in the mix? You know what I mean? Yeah, they're not going to go, Bec, you wrote a cover letter and we did not ask for that. They're going to read it and be like, Bec sounds like a mad dog. Well, you would hope so. Thank you so much because I wrote it for you. It's just basically a glowing reference.

I am very sorry to hear that you just giving your experience online received so much backlash. That is very sad. It's actually really fun. Oh, good. I'm glad you find it fun. But V, I imagine that there are some ways to get this wrong and some cons as well.

Yes, and we really should talk about it as well. Just in case. Because obviously job hopping could make you seem relatively instable. Sure. Instable? Unstable. Unstable? Gives you the perception of instability.

Let's say that. That's good. That's good. Yeah, that makes me sound real smart. That's very smart. Let's keep that. So frequent job changes, they might actually lead employers to think that you're less committed or you're a bit unstable as an employee.

that's not good but with good articulation and understanding and thought behind job hopping I think that we can you know counter that the next is limited benefits so some benefits like retirement savings i.e. your superannuation or health care plans they might take time to accrue at new companies or new jobs right and that might result in a temporary gap in coverage so I know that in Australia we're relatively lucky because we've got Medicare, but I'm finding it more and more common recently. A few of my friends have recently got new jobs and they're like, V, private health care's included. Really? One of my other friends just got a new job, income protection included. Okay. And I was so sceptical, Bec. I was like, show me. Like,

it must be dodgy. Yeah. Must be trash. Must be no salary or something. No. And just income protection. It's a really, really good plan. And I was like, this is hot. Stay with this employer for the next 30 years. Okay. 10 out of 10. Yeah. So that could be really important to take into consideration. Sure. Also, we should be talking about these things because if other people are getting those benefits, maybe those are things that we could negotiate. That's a very good point. The next is adjustment periods. So each job change might require an adjustment period. So that would impact on your work-life balance and your productivity. Yeah. And I mean, I don't know about you this is really lame but historically to me nothing's more embarrassing than being the

new girl at work oh I hated it I'd always be like I don't know anybody I need to sit at my desk 24 7 I've forgotten everybody else's names like I'm not the most social person sure I feel like you'd just roll in and be like, what's up, it's Bec. And I do find it fun. Really? I hate it. I can't stand it. So we need to allocate for these adjustment periods where you're going to be trained in the new role and you have to learn about the company and their culture and maybe their history. So I think that needs to be taken into consideration. And then the last thing I've got for you, Bec, is missed long-term opportunities. So if you're changing jobs all the time, you might actually miss out on long-term opportunities and potential rewards that come from staying

loyal to a single employer. Right. So they could be long service leave. True. It could be, you know, if you're with the company for a certain period of time, there are benefits that they give to you. You get a gift voucher. Yeah.

I mean, the $50 gift voucher as a bonus is not going to make me stay in the job. Thank you, Sharon, for my count. For 17 years. Yeah. But I think it's important to understand what that might look like for your career because that's going to be different for everybody, right? Like in your situation, Bec, you work in media and job hopping around in media can be seen as one of two things. It could be she's really in demand or she's not as good as you think she is. Right. But in different areas that might be seen

differently and obviously long-term opportunities that come with a long period of tenure, you know, think about whether those things are really important to you. Right. I don't know what they are off the top of my head, but it's a point that I've written down that I think is really important to take into consideration, Bec. That is a very good point. Are we done? I think I'm satisfied. Do you feel? I'm relatively satisfied. I need to get back to my TikTok comments though. That is so fair. I need to jump on LinkedIn and have a little scroll. Yeah, I feel like LinkedIn is where all the hot people are. I'm sorry, that's where they are. It's the truth. They're facts. I'm going to go have a look. All right. She's on LinkedIn. It

makes sense. Max is my thing. Have a really good week, guys, and we will see you on Friday. Bye. the advice shared on she's on the money is general in nature and does not consider your individual circumstances she's on the money exists purely for educational purposes and should not be relied upon to make an investment or financial decision if you do choose to buy a financial product read the pds tmd and obtain appropriate financial advice tailored towards your needs. Victoria Devine and She's On The Money are authorised representatives of Money Sherpa PTY LTD ABN 321 649 27708 AFSL 451 289.