More Arizona workers leaving old jobs for better ones
‘Job hopping’ is a way to get more pay
PHOENIX (3TV/CBS 5) — Chris Morin had a good job working for Discover Financial for seven years, but he wondered if there was something better out there, especially with a wife and two young children at home. “I was pretty selective,” said Morin. “I wasn’t in a rush to get out of my job, but I thought I’ve got some companies that have really good reputations and I was going to see if maybe there was something there.”
Last month, the Phoenix dad took the plunge, leaving his longtime job for an opportunity with Amazon and a 50% pay raise. He said the pandemic opened up many opportunities, with companies allowing people to continue working from home. “I don’t need to go into an office at all. My skill set work that I do, I can work anywhere, and live anywhere,” said Morin. “That was definitely one of the driving factors for a lot of that stuff.”
“Job hopping” is more popular than ever, and it’s not hard to see why. People who recently left their job for a new employer are getting an annual raise of about 8.5%, according to the Federal Reserve Bank of Atlanta. It’s the highest increase for job hoppers in 20 years.
Blake Quinlan is a manager of Express Employment Professionals in Scottsdale. He said the raises job hoppers are commanding shows the kind of leverage workers have in today’s job market. “They are in demand, and the supply just isn’t there for other employees, so they get to dictate what they want to do, where they want to work, and what they are looking for,” said Quinlan.
Staff shortages have also given workers more leeway to ask for a raise at their current job. Morin said the extra money he’s making now has changed his life. “We were OK, but now we are feeling great,” said Morin.
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