If you're at a point where you think it's time to get a raise, you may want to think about quitting your job. Although that may initially sound counterintuitive, it's a strategy that more employees are using to increase their salary. In some extreme examples, employees change as frequently as every 6 to 12 months. While that's generally only something that works in fields that are highly in-demand like engineering, the strategy of looking outside your current job for a pay increase is something that can work for just about any motivated employee.
To put this trend in perspective, a full 2.8 million people voluntarily quit their jobs in January of 2015. This marked a full 17% increase from January of 2014. Even though this may sound like a significant issue, economists have made it clear that it's actually a good thing. The proof is in the fact that 2014 was the best year for job growth in America in the last fifteen years.
Despite the fact that more people than ever are taking this strategy to increase their pay, it doesn't mean that every employee is comfortable with the idea. One concern many employees have about quitting or "job hopping" is it will look bad on their resume. As previously mentioned, if you work in startups or a field like technology, frequent changes aren't really an issue.
That being said, if you work in another industry, changing jobs all the time would probably reflect poorly on your resume. But just because you probably shouldn't change at the drop of a hat doesn't mean you should ignore this general strategy.
If you've been working at a company for several years and currently have an offer from another company for more money, you have two options. The first is to ask your boss for a raise that would meet the outside offer you've received. If you don't receive the raise, you could then quit. The other option is to simply quit without first asking for a raise.
Which path is the right one for you? It really comes down to whether or not you enjoy working at your current job. If you do like what you do and who you do it with, it makes sense to put in the effort to see if they're willing to pay enough to keep you around.
On the other hand, if you're tired of your job and feel that it doesn't challenge you, a new offer is the perfect opportunity to quit your current job and start down a new path. Although it's normal to feel nervous about quitting, as long as you do it in a professional manner, you can feel 100% confident about your decision to move on to a higher-paying job.
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