I’ve been job-hopping for higher pay for a few years – at what point should you settle in?

There’s a reason a good number of baby boomers today are looking at a comfortable retirement. Back when they started their careers, it was common to stay with the same employer for decades. Doing so usually meant working your way up the ladder and collecting some sort of pension that would take care of you for life once your career ended.

But given that most private sector companies have done away with pensions, that same level of loyalty doesn’t tend to exist anymore. In fact, these days, it’s almost an odd thing for someone to stay at the same job for too long a stretch — especially when switching jobs has a tendency to lead to higher pay.

In a December 2024 report by ADP, those who stayed in their jobs saw their wages increase by 4.6% on a year-over-year basis. But for those who changed jobs, that increase was 7.1%.

Of course, it begs the question — at what point do you stop chasing new jobs (and the higher pay that often comes with them) and settle into a company you can grow with?

That’s what this Reddit poster is wondering. They’ve been switching jobs every two to four years, but at this point, it’s clear that they’re ready to rethink that strategy. And that’s not a bad idea.

The problem with job hopping

Clearly, moving from one company to another is a good way to increase your pay. But at some point, that might come at the expense of your mental health.

Starting over at a new employer is never an easy thing, even if the money is good. And there’s something to be said for forging relationships with your colleagues only to have to start over once you’re comfortable with your workplace circle.

So what I’d say to the poster above is that if they’re reasonably happy with their pay and benefits now, and there’s room for upward mobility at their company, then it may be time to start planting roots and change their approach to growing their income. Rather than continue hopping to new companies, they could instead carve out a path for growth within their current company. Doing so might give them more stability — and peace of mind.

Consult the right professionals for guidance

Career-related decisions are complex ones because they impact not only our finances, but our social and mental health. So I’d suggest that the poster above, and anyone else with a similar question, do two things.

First, consult a financial advisor. An advisor can tell you if your current salary is sufficient in meeting your savings goals. And if not, they can help you figure out what pay you need to aim for to meet those objectives.

Next, I’d say talk to a career counselor. It may be that there’s been something other than money behind all of that job hopping, which someone like that can help you work through.

A career counselor might also be able to help you find a way to make your current role work if it’s one you’re interested in sticking with. Plus, they might have some salary negotiation tips you can employ if you’re generally happy where you are but could use a modest lift in pay.

There can be benefits to settling into a job and staying for a good number of years. So before you assume that switching companies is your only ticket to higher pay, you may also want to have an open discussion with your employer to see what sort of path you might be looking at.

And if your company has a mentorship program, sign up for it. Working with a more seasoned professional within your organization could open many doors and help you develop skills that lead to higher pay without you having to make a drastic move.