Remember a few years ago? Back then, job-hopping was like a game of "musical chairs," where everyone was looking for better opportunities, and companies were scrambling to grab talent, offering salary increases that were hard to resist. However, today's labour market feels more like a pot of "warm water," where the heat is gradually cooling down, and the appeal of job-hopping is no longer as strong as it once was. Recent data shows that the salary increase for job-hoppers has dropped significantly from 7.7% two years ago to 4.8% last month. Although switching jobs can still bring higher pay than staying in the same position, the gap between the two has shrunk to the lowest point in a decade. This article delves into the story behind this "cooling off" in job-hopping.

A few years ago, job-hopping was like a "gold rush," with everyone hoping to strike it rich by switching jobs and securing higher salaries. Companies were willing to offer high pay and generous signing bonuses to attract talent. However, today's labour market is more like a "calm lake," with hardly a ripple in sight. The salary increase for job-hoppers has significantly decreased, while employees who stay in their original positions can now receive nearly the same pay raise. David, a programmer, once boosted his monthly salary from $10,000 to $15,000 by changing jobs a few years ago. However, when he recently tried to switch jobs again, he found that the new company was only willing to offer him $12,000. David felt deeply disappointed, as though he had missed the "gold rush."

Why has job-hopping lost its "charm"? Several factors are behind the decline in its appeal: As economic uncertainty increases, more workers are choosing to stay in their current jobs. They fear the risk of unemployment after switching, especially with sluggish hiring activities. Many companies are also frustrated with offering high pay and bonuses to employees who leave after a short period to chase better opportunities.

They prefer to invest their resources in long-term employees rather than those who frequently hop from one job to another. Recently, hiring activity has been extremely sluggish, and unemployment durations have been getting longer. Many companies have postponed plans to expand their workforce, reducing the number of job-hopping opportunities. Schindler, a sales manager, recently tried to switch jobs but found that the job market was very slow. He sent out dozens of applications but only received a few interview invitations. Schindler felt helpless, as though he was trapped in a

"recruitment winter." 

Although the appeal of job-hopping has diminished, that doesn't mean there are no opportunities left. Here are some "new rules" for job-hopping: Don't just jump on the bandwagon without thinking. Before you start looking for a job, take a moment to think about what you want from your next role. As a job seeker, do you prioritize salary, or are you more interested in work-life balance? Or maybe the new job's proximity to home is your main concern? Whatever you're looking for, plan. For those who always believe "money comes first," think carefully. After all, your career is a long journey, and for long-term success, you can't let short-term gains cloud your judgment. Sometimes, a job may not offer a high salary but can provide more opportunities for career growth. Focus on long-term development rather than short-term benefits.

The "golden era" of job-hopping is over, and today's labour market feels more like a

"calm lake." While the appeal of job-hopping has decreased, that doesn't mean there are no opportunities left. By setting clear goals, accepting short-term pay cuts, and focusing on long-term growth, you can still find your own "golden opportunity" in a new position.