New Jersey: Staying Loyal To Your Current Job Is Costing You Money
According to TheCenterSquare.com, nearly 9 million New Jersey residents quit their jobs in February and March of 2022 alone.
In case you haven't heard already, this massive quitting craze happening across the country is being called The Great Resignation.
It's just business, folks.
I have quite a few friends who have recently changed jobs and when I asked why, there are a few common answers given:
"The toxic work environment."
"The health insurance is awful."
"There's no room to grow."
But the most common answer is one I am sure you can predict:
"I need to be making more money for the work that I am doing."
It is a fair complaint.
Not only have inflation rates reached record numbers but gas prices in New Jersey are some of the highest in the nation.
According to CEO Dan Price, if you are not being given a raise in this economy, you are basically taking a 10% pay cut.
FYI: Dan has been very vocal about the flaws in our economy. I would strongly recommend checking out his profile for other helpful pieces of advice.
Throughout the Great Resignation, demanding more money is a common theme.
According to a recent study I found on NewsBreak.com, changing jobs right now actually benefits you financially BIG TIME.
"Those who changed jobs got a median raise of 16.1%. That's nearly double the median change in yearly pay in those who stayed at their jobs: 7.6%"
These numbers also depend on which career you are pursuing.
For example, leisure and hospitality workers saw the biggest pay increase: 12.1%
Who knew NOT being loyal would ever work in your favor?
If you are on the fence on whether you should stay or leave, here is a bonus tip: "the larger the company, the greater the raise for employees who stuck around," according to NewsBreak.com.
If you are not happy or if you are struggling to make ends met, speak with management.
Just remember, the numbers above don't lie.
Change can be scary but these days, it might be in your best interest.
Is this discussion stressing you out?
I have just the thing: