My Uncle swore by quitting jobs every 2 years for better raises

He's been in HR for like 20 years. Told me loyalty just gets you a 2% raise while jumping ships gets you 15-20%. I stayed at my first job for 4 years because I liked the team. Got a 3% raise. Friend who started same time as me left after 18 months, now makes $12k more than me. Is that really the only way to move up now or are there companies that actually reward staying?

2 comments

2 Comments

veraj5315d agoMost Upvoted

Did your uncle mention that some places actually do loyalty bonuses or long term incentives? I've seen a few folks stay put because the yearly bonus structure made up for the smaller raises, but it's not common.

emmag2215d ago

My uncle did mention one place that did this huge retention bonus for folks who stuck around five years, but it was more like a golden handcuff situation (you know, you feel kinda trapped if you want to leave before the payout). The yearly bonus thing sounds smarter though, keeps people happy without locking them in.