The Hidden Cost of Sitting Still in Your Career

Read time: 5 minutes

Why do we clock in day after day? Simple – for that elusive paper called money.

If the paycheck fairy decided to go on strike, we'd all be packing up our desk plants and bidding farewell to the daily grind.

Money, is the lifeblood of our existence. It foots the bill for our essentials, keeps the lights on, and even opens doors to better healthcare and education.

Sure, they say money can't buy happiness, but I challenge anyone to deny that it's a turbocharger for a better life:

• Increased financial security: building your savings, an emergency fund, access to top-notch education, and securing your retirement.

• Elevating your quality of life: it opens up access to better neighborhoods, dream homes, and school districts for your budding family.

• Unleashing freedom and choice: more money means your decisions are driven by desire, not desperation. Choosing where to live, how to spend your time, and chasing your passions become not just possibilities but realities.

• And much much more…

Now, let's tackle today’s issue. What unlocks that better life? And what unknowingly can be killing that dream?

Not going after that promotion, getting too comfy instead of seizing the next big job, or ignoring potential growth opportunities beyond your company's four walls, are all culprits that limit our potential.

In this edition, we're dissecting the opportunity costs of being complacent in your career—the consequences of being a job sitter.

Let’s dive in.

Job Sitter /sih-tur/

noun

Defined as someone who sits in their job for far too long and maybe for their whole careers.

Complacency is the silent assassin of your professional journey, and it's packing some real consequences.

We're not talking pocket change here; we're talking about life-altering money that could've been your ticket to an upgraded quality of life.

Now, let's dive into the cold, hard data because, as we know, numbers don't lie:

Here's the baseline – the average fresh-out-of-college young professional in 2023 was raking in $58,800. Not bad, right? But wait, there's more.

If you're part of the job-sitter squad, you're looking at an average annual salary increase of around just 3%.

Now, let that sink in—the cost of your daily caffeine fix increases faster than that!

Now, let's talk about the go-getters, the promo pursuers, the job changers. These folks are out here securing an annual salary increase of around 10%, and some savvier ones even snagged a jaw-dropping 16% bump in 2022.

That's not just a salary; that's a flex, a power move, a financial game-changer.

Over the course of a 30 year career, the cumulative delta between those who sit and those who go for it is millions and millions of dollars.

Salaries don’t always go up every year (actually its about 20-30% every 2-3 years, which = 10% / year for the go-getter team). But as an average, you get the point.

The compounding magic isn't reserved solely for your investment portfolio either; it's a player in the salary game too.

If you start advancing early, all future salary increases build upon a higher base, year after year.

For the aggressive job hoppers and relentless promo pursuers, hitting the 10-year mark means doubling their earning potential compared to those who opted for a more laid-back approach in their 20s.

That's an entirely different ballgame entering your 30s. And remember, it only compounds from there.

So, what's the key takeaway? Stay ambitious, keep your eye on the prize, and fuel that career growth – early and relentlessly.

Been a bit lackluster on that front so far? Don’t sweat it, it's never too late to kickstart the journey.

Now, the ultimate ROI? It lies in self-investment. Upgrade your skill set, carve out a niche expertise, actively seek feedback, and secure a mentorship.

Picture where you want to be in 1, 3, and 5 years down the line. Now, what's standing between you and that destination? Identify those gaps in your experience and craft a strategic roadmap to bridge them, transforming yourself into the ideal candidate for that next big move.

Remember, a goal without a plan is just a wish. And it's never too late to lay the groundwork for that next leap in your career.

A career is never a straight line upward—it's more like a rollercoaster with unexpected twists and turns. I've certainly had my fair share of highs and lows, moments where I coasted when I should have been accelerating.

In the initial four years of my sales career, I was on fire. I didn't just meet my sales quota; I obliterated it, surpassing expectations by a staggering 125% every year.

I was a consistent top performer–in the top 5% of sellers in the company–achieving the highest awards one could strive for.

I could have easily leveraged that strong track record into a much higher paying sales role at a top-tier company, but what did I do?

I went horizontal, moving laterally into various other roles for the next 4 years—taking the easy next job.

In essence, I wasted the momentum I had built.

We’re all guilty of it, and it’s human nature to take the path of least resistance.

It's like watching a car with a full tank of gas (or electric charge these days) choosing to cruise in the slow lane. Why? Because it's easy.

If I could go back in time, my future self would have grabbed past-me by the shoulders and shaken some sense into him. "Don't settle for the easy next move," I'd say. "Think beyond the obvious. Consider the moves that will catapult your career, not just keep it afloat."

If you’re in that situation now, think beyond the easy, the comfortable and obvious next move, but what are all the potential game-changing moves you can make for your career.

Your future self will thank you, and trust me, hindsight is a brutally honest judge.

With all that said, the annual pay gap for job changers and job sitters has shrunk to the smallest margin in recent years.

And with companies laying off large percentages of their workforce to prepare for potential economic slowdowns, that narrowing makes sense.

If you're presently on the payroll, count your blessings—but resist the urge to slip into complacency.

As the economy starts revving back up with all the AI integration fuel its been chugging over the last year, the opportunities will come in droves.

So, the next time you're contemplating staying in your cozy job for just one more year, remember – there's a price tag attached, and it's not one you want to pay.

Let's turn those opportunities into paychecks, people!

What career decisions are you currently facing? I’d love to hear your thoughts and experiences.

Thank you for reading,

-CJ

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