It’s official: The grass is greener on the other side. This is an era when workers’ time at companies is unprecedentedly short, and the job-hopping approach is being vindicated: Nearly half of workers who changed jobs last year were rewarded with a pay raise that exceeded not only their former salary but the inflation rate. No less an authority than the central bank says it’s true.
Job-hopping beat inflation for 49% of job switchers in 2022, according to a new Federal Reserve Bank of Atlanta analysis. Among those who stayed loyal to their companies, only 42% got inflation-beating raises. The data comes from the Atlanta Fed’s Wage Growth Tracker, which tracks median changes in hourly pay, year over year. Based on the Fed’s findings, workers should maybe consider how green their grass is.
