4 Advantages of Changing Employers

Staying with one employer for most of your career is becoming less common. Instead, more professionals are switching employers for higher pay, career advancement, health care benefits, work-life balance, and networking opportunities.

There are a few things to take care of when switching jobs — such as a 401k rollover to an IRA — but the benefits of changing to a new employer can be immense.

This article will discuss four advantages of changing employers.

1. Higher Income and Benefits

Changing jobs can help you increase your income and gain access to better benefits. This is especially true if your income at your current job has stagnated or is not increasing fast enough. Some companies pay more for similar positions, and you could potentially negotiate a higher salary.

The new employer may also offer better benefits, such as lower premiums on health insurance or a higher 401k matching bonus. Remember that you may want to roll over your old 401k into the new one when you switch.

Even if you don’t ultimately take the job, you could use a higher-paying job offer to negotiate better pay in your current position.

2. Career and Skill Growth and Advancement

Switching employers can help you jump ahead in your career if your current employer has not offered you opportunities for career advancement.

Switching employers offers a new environment on its own, but taking a higher-level job at a new employer allows you to take on additional challenges and responsibilities. You get to learn new skills and gain valuable experience. Both offer more career satisfaction and help strengthen your resume.

Some employers may help cover the cost of learning new skills and growing your career through benefits like tuition reimbursement. Finding an employer that pays you to go back to school can help you get an advanced degree and more skills that can lead to further advancement.

3. Better Work-Life Balance

Having adequate time off from work is vital to performing your best at work and pursuing a well-rounded and fulfilling life.

Switching employers can help you achieve a better work-life balance if your company does not respect those boundaries. For example, if you take work home too often or work more hours than you intended, you might want to look for a new job to get your evenings and weekends back.

Another example might be a company with remote work or flexible work hours. This is important if you work better during certain times of the day or have other responsibilities, such as transporting children to and from school.

4. Networking Opportunities

Jumping to a new employer can rapidly expand your network and future opportunities. You get to meet new colleagues, clients, customers, and more. As a result, more opportunities for jobs and mentorships can open up.

Furthermore, leaping self-employment is easier with a broader network. More professional connections could put you within reach of more potential clients and customers if you start your own business in your field.

The Bottom Line

Switching employers could be a wise financial move by helping you find a higher salary and a better benefits package. It can also foster career advancement and skill development while helping you achieve a better work-life balance.

On top of that, you can expand your professional network, expanding future job and business opportunities. You can even relocate more easily if you find a remote or in-person job at your desired location.