The Entrepreneurs Weekly
No Result
View All Result
Sunday, June 1, 2025
  • Login
  • Home
  • BUSINESS
  • POLITICS
  • ENTREPRENEURSHIP
  • ENTERTAINMENT
Subscribe
The Entrepreneurs Weekly
  • Home
  • BUSINESS
  • POLITICS
  • ENTREPRENEURSHIP
  • ENTERTAINMENT
No Result
View All Result
The Entrepreneurs Weekly
No Result
View All Result
Home Business

Job Hopping Doesn’t Pay As Well As It Used To, Per New Data | Entrepreneur

by Brand Post
March 17, 2025
in Business
0
Job Hopping Doesn’t Pay As Well As It Used To, Per New Data | Entrepreneur
152
SHARES
1.9k
VIEWS
Share on FacebookShare on Twitter


Deciding between staying at your job or changing roles for a higher salary? New federal data shows that the difference in increased pay between those who stay and those who switch has dropped to its lowest level in a decade.

According to a wage growth survey conducted by the U.S. Bureau of Labor Statistics and the Federal Reserve Bank of Atlanta earlier this month, those who stayed in their current roles saw their salaries rise by 4.6% in January and February while job switchers only saw a slightly higher increase over the same period at 4.8%.

The difference between the two groups was wider in January 2023, when workers who stayed in their roles saw wages rise by 5.5% and switchers experienced a 7.7% increase, but the gap has narrowed with time.

Related: Looking for a Remote Job? A New Survey Says It Could Be Harder to Find Than You Think.

U.S. Labor Department data shows that more Americans are choosing to stay in their jobs, with the quit rate reaching its lowest point in 2024 since 2020. Compared to 2022, when over 50 million Americans quit their jobs, only 39.6 million people quit in 2024.

Workers are holding onto their jobs because they think it would be difficult to find another job that compares — and they don’t think they have as much negotiating power as employers. According to a Harris Poll survey released last week, 70% of Americans think they would have trouble finding a job better than their current one, with three in four respondents saying that employers currently have more leverage in the job market than employees.

Job seekers are also experiencing the crunch of lower salaries amid a competitive labor market. Customer success specialist Josh Vogel told The Wall Street Journal that after getting laid off in October at a job that paid him $170,000 per year plus an annual bonus, he recently accepted a role making $120,000 per year.

Related: ‘Really Hard to Find a Job’: 1.7 Million Job Seekers Have Been Looking for Work for at Least 6 Months

“No one is paying what they used to,” Vogel told the outlet. “If you don’t like it, there’s 50 people behind you they’re going to call right afterward.”

Employers are also hiring at lower rates, increasing competition among job seekers for open positions. U.S. Bureau of Labor Statistics data shows that the hiring rate has stayed around 3.3% since June, down from around 4.6% in 2021. USA Today notes that the hiring rate now is similar to what it was in 2013 when the labor market was coming back after the Great Recession.

The only sector unaffected by lower salaries when changing jobs is finance, per the WSJ.

Many banks that had record earnings in 2024 are paying finance job candidates higher salaries when they switch roles. However, JPMorgan gave employees lower bonuses than some expected this year.

Related: ‘Feels Like a Slap in the Face’: Some JPMorgan Employees Reportedly Aren’t Happy With Their Bonuses



Source link

Tags: Business NewsDataDoesntentrepreneurFederal ReserveHoppingJobJob SeekersJobsNews and TrendsPayU.S. Bureau of Labor Statistics

Related Posts

This 0 MacBook Air Handles Your Hustle Without Complaints | Entrepreneur
Business

This $200 MacBook Air Handles Your Hustle Without Complaints | Entrepreneur

May 31, 2025
What Every Brand Gets Wrong About Using AI | Entrepreneur
Business

What Every Brand Gets Wrong About Using AI | Entrepreneur

May 31, 2025
Improve Your Productivity with Windows 11 Pro for Just  | Entrepreneur
Business

Improve Your Productivity with Windows 11 Pro for Just $15 | Entrepreneur

May 31, 2025
  • Trending
  • Comments
  • Latest
Meet Amir Kenzo: A Well Known Musical Artist From Iran.

Meet Amir Kenzo: A Well Known Musical Artist From Iran.

August 21, 2022
Behind the Glamour: Bella Davis Opens Up About Overcoming Adversity in Modeling

Behind the Glamour: Bella Davis Opens Up About Overcoming Adversity in Modeling

April 20, 2024
Dr. Donya Ball: Pioneering Leadership Solutions for Tomorrow’s Challenges

Dr. Donya Ball: Pioneering Leadership Solutions for Tomorrow’s Challenges

May 10, 2024
Nasiyr Bey’s Journey from Brooklyn to Charlotte: The Entrepreneurial Path to Owning a Successful Cigar Lounge

Nasiyr Bey’s Journey from Brooklyn to Charlotte: The Entrepreneurial Path to Owning a Successful Cigar Lounge

August 8, 2024
Augmented.City Startup Developers Appeal To US Politicians With An Open Letter

Augmented.City Startup Developers Appeal To US Politicians With An Open Letter

0
U.S. High Court Snubs Challenge To State And Local Tax Deduction Cap

U.S. High Court Snubs Challenge To State And Local Tax Deduction Cap

0
GOP Lawmaker Blames Biden For Russia-Ukraine War: Putin ‘Could never have Invaded’

GOP Lawmaker Blames Biden For Russia-Ukraine War: Putin ‘Could never have Invaded’

0
Brad Winget’s Tips and Tricks on Having a Career in Real Estate

Brad Winget’s Tips and Tricks on Having a Career in Real Estate

0
This 0 MacBook Air Handles Your Hustle Without Complaints | Entrepreneur

This $200 MacBook Air Handles Your Hustle Without Complaints | Entrepreneur

May 31, 2025
What Every Brand Gets Wrong About Using AI | Entrepreneur

What Every Brand Gets Wrong About Using AI | Entrepreneur

May 31, 2025
Improve Your Productivity with Windows 11 Pro for Just  | Entrepreneur

Improve Your Productivity with Windows 11 Pro for Just $15 | Entrepreneur

May 31, 2025
Turn Your Side Hustle Into a 7-Figure Business With These 4 AI Growth Hacks | Entrepreneur

Turn Your Side Hustle Into a 7-Figure Business With These 4 AI Growth Hacks | Entrepreneur

May 31, 2025

The EW prides itself on assembling a proficient and dedicated team comprising seasoned journalists and editors. This collective commitment drives us to provide our esteemed readership with nothing short of the most comprehensive, accurate, and captivating news coverage available.

Transcending the bounds of Chicago to encompass a broader scope, we ensure that our audience remains well-informed and engaged with the latest developments, both locally and beyond.

NEWS

  • Business
  • Politics
  • Entrepreneurship
  • Entertainment
Instagram Facebook

© 2024 Entrepreneurs Weekly.  All Rights Reserved.

  • About Us
  • Advertise
  • Contact Us
No Result
View All Result
  • ENTREPRENEURSHIP
  • ENTERTAINMENT
  • POLITICS
  • BUSINESS
  • CONTACT US
  • ADVERTISEMENT

Copyright © 2024 - The Entrepreneurs Weekly

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In