Do diagonal job moves grow income?

Moving jobs

Sometimes it's necessary to take that diagonal job move in order to move up the career ladder. But is it always a good thing?

What do you mean by diagonal job move?

I define a diagonal job move as one that results in the person moving to a different employer in a similar industry but at a higher level.

The obvious benefits of taking a job higher up but in another Company is the obvious prestige and status benefits and the likely increase in salary that comes with having more responsibility. 

A higher salary can always be tempting and there will be those people who will always chase down progressively higher incomes. But it isn't always about the money - at least not in the short term. What these job hopping people miss are three things: commitment, stability and education.

Longevity

Rather than jumping from job to job there are befits to committing to one employer for the long run. Companies often provide long service awards such as bonuses, a holiday or additional pension contributions. Additionally and more regularly Companies offer their long standing employees additional holiday allowance, something that the individual who job hops cannot hope to obtain.

Stability 

Committing as a loyalist to a Company can provide stability, not only to you but to your family as well. It's far more pleasant going to an office each day where you know people and perhaps even befriended a few. It must be harder socially for those employees who are regularly new to the work environment. By knowing your colleagues better you build rapport, meaning that you get along with them better. The end result being that you are happier at work and so come home happy - good for your family!!!

Education 

Finally, staying at one place long term mean that you can take the time to train and to learn. By understanding what the Company offers you can take a longer term approach to your learning and structure it to suit your own needs. 

Research has demonstrated that those who have more training, experience and are better qualified earn more in the long run regardless of the fact that they likely took a short term salary sacrifice to do the learning. 

Conclusions of job moves

There are times when a job move might be necessary - your current job has become stale and you don't see any prospects. However, if you're thinking of moving for the money (and the money along) then perhaps you should reconsider what the benefits of staying in your current job longer term might be.

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