People in their 20s indulge in Job Hopping as a way to explore career opportunities. If you are in this age group, you likely have more freedom to move for a new job, especially if you don’t have children. Since moving is universally considered a pain in the butt, you may want to know how to make moving easier when job hopping in your 20s.
Your willingness to move opens up so many more job opportunities than if you were glued to a specific region. Job hopping is also an excellent way to increase your income. Taking new jobs at about two to three-year intervals lets you parlay your experience into a higher salary at a new location.
Loyalty to Your Employer Equals Lower Pay
Studies of salary data in the United Kingdom and the United States revealed that workers who job hop grow their incomes faster than those who stay in one job. Younger U.K. workers gained the most by taking new, better-paying jobs as soon as they could acquire them. In the United States, job hoppers outearned the steadfast employees.
People in higher level management positions and the C-suite can snag the highest gains when job hopping. Although these people are not likely in their 20s, it shows how lucrative job hopping can be once you reach management. Surveys of 2,600 professionals and office workers found that 35% of people in senior positions received salary increases of 30% or more when they switched jobs in 2021 and 2022.
You can Account for the gains of job hoppers because they aren’t going to switch jobs for lower pay unless motivated by other circumstances. They benefit because they do not stick around at a job for some miserly raise or the miniscule chance at a promotion. Even a salary gain of 5% to 10% with a new job would easily outstrip the puny 1% to 3% cost-of-living raises that most employers dole out (usually right before they announce that your medical share of cost is going up 15%).
So, if you want to make more money and you’re not tied down to a particular place, it’s time to make a plan for success. Taking a new job might mean that you have to make a quick move. You want to know how to make moving easier when job hopping to reduce stress and avoid distraction when starting a new and better-paying job.
Best Ways to Make Moving Easier When Job Hopping
1. Don’t Overburden Yourself With Furnishings
Minimalism is your friend when you expect to pack up and move every other year. Do you really need a living room sectional couch when a pair of recliners would serve your needs just as well?
As you furnish your residence, resist the urge to buy more than what you need. Buy what you must to be comfortable but avoid items like four-post beds, large sofas, and big wall mirrors or paintings.
Small items can add up quickly too. Unless it’s your habit to throw dinner parties, only buy the dishes and pans that you need to function.
When moving day comes around, you might want to consider disposing of your old mattress and starting fresh with a new one at your new home. Those mail-order mattresses that expand after you take them out of the box are nice.
2. Have a Vehicle With a Tow Package
Being able to move by renting a trailer and driving your own vehicle is convenient and saves you money. You won’t have to pay for a bigger moving van and trailer for towing your vehicle.
As long as your furnishings will fit in a rental trailer, you can hook up and be on the road with minimal difficulty.
You don’t necessarily need to have a truck to tow a moving trailer. Even some sedans are capable of towing, but you’ll most likely choose an SUV of some type. Look for a trailer hitch connection when shopping for a vehicle.
3. Have an Online Bank Account
Although you may choose to open an account at a local bank once you get settled, you’ll want access to your money during the transition. Many online banks come with access at ATMs. Shop around and choose one with little to no ATM fees. In addition to checking accounts, online banks usually have savings accounts that pay higher interest than what you can get at a brick-and-mortar bank. You may want to keep your emergency fund in an online account so that you can earn more interest.
With an online bank account, you’ll be able to set up your pay deposits at your new job without going through the hassle of opening a new local account first. You can also stay on top of paying your bills while in transit to your new destination.
4. Build a Moving Fund
Moving is disruptive. As a result, it temporarily adds to your expenses. You have to close out utility bills at your old residence at the same time that you set up new utility accounts. You also need to rent a moving trailer/van or hire movers.
Every time that you get paid, put a small amount in an account dedicated to moving expenses. This way you will be ready to pounce on a job opportunity if a good one comes up suddenly without concern about the cost of moving because you already have money for that.
5. Know How to Break a Lease
You will probably rent if you choose to pursue a job hopping strategy. The need to move for a new job could occur when you are in the middle of a lease. You don’t want to sacrifice higher income for the sake of fulfilling a lease, but you don’t want the legal liability of a landlord suing you for the remaining months of rent on your lease.
You’ll need to be proactive to guard against lease problems when job hopping. Examine leases carefully and be willing to negotiate for better terms.
If you can’t predict exactly when you will move again, try to find a month-to-month rental agreement. This may not be easy, but it is an arrangement that exists, which makes it easy to move. You’re not really breaking the lease as long as you give 30-day notice and pay for the time you lived there.
More commonly, leases include terms for termination. Termination clauses usually allow you to give notice and conclude the lease by paying a fee or giving up your deposit.
You may have the option of subleasing so that the landlord experiences no interruption in income and you can complete your financial commitment in the lease.
How to break a lease might come down to having a conversation with your landlord. You might reach a termination agreement even if one was not described in the lease.
6. Have a Passport
Make yourself attractive to recruiters looking for candidates who are ready to travel internationally. You may also want to be able to take a job across a border. Even if you remain in the same country, such as the United States, a passport is a good form of ID while you are switching your driver’s license from one state to another.
Step-by-step instructions to apply for a U.S. passport from the U.S. Department of State.
Step-by-step instructions to apply for a Canadian passport from the Government of Canada.
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