When to Switch Companies and When to Stay?

Anthony Soltero -

How do you know when to switch companies and when to stay?

It's an important career decision and you want to make the right one, but how?

It comes down to two things:

Learning and Pay.

Use this framework:

[pay] * [learning] = [stay/leave]

Underpaid and not learning = leave

This is the easiest decision to make.

You feel it in your bones, your peers and friends are making more money than you. What's worse is that you're not learning. Your boss isn't challenging you, you're not learning new skills, and you're not working with peers that are one or two steps ahead of you.

This is a dead zone, escape it asap.

Underpaid and learning = stay

You might be underpaid, but you shouldn't jump ship immediately.

The process of learning is a critical aspect of your career. It will provide new skills, more knowledge, and greater capability.

Plus, there's a compounding effect to learning. When you learn extensively, you:

  • Increase the number of jobs you can apply for
  • Improve your value in the job market
  • Maximize your earning potential

This is why it's important to prioritize learning (especially if you're early in your career).

You may not be paid what your worth right now, but you are building the foundation to get a higher paying job in the future.

This is a seductive trap.

You're getting paid well and your job is cushy. Your manager doesn't expect much from you, it's easy to get work done, and you struggle to find things to do to fill a 40-hour work week.

This sounds good, but you're not learning, your value in the job market is decreasing, your future income is capped, and others in your field are leaving you behind.

Staying at a job where you're paid well but not learning is a trap. It feels good now, but it will feel horrible when you get bored, need a change, and find it difficult to find another job.

Don't accept this fate.

If you're not learning, leave.

This is the holy grail of career fulfillment.

You're compensated well, live the lifestyle you want, and are learning at the same time. You feel like you're getting paid to learn. It almost doesn't feel like a job.

Your boss gives you challenging projects, you're free to try new ideas, you're testing out new tools, you're learning new methodologies, and you're getting better everyday.

Not only do things go well internally, external benefits come your way. Your job market value increases, you can demand a high salary, you have multiple job options, and you have more job security.

You can get another job, but you don't have to.

And indeed, you shouldn't.

Milk this situation until the last drop.

Your future self will thank you.

If you want to work with me 1-on-1 to help you make your critical career decisions, email me at anthony@anthonysoltero.com and I'll help you get to where you want to go.