Millions of Americans questioned their career priorities amid the “Great Resignation,” leading roughly 47 million workers to quit their jobs in 2021 for better work opportunities. A new report from the Pew Research Center found 53 percent of employed adults in the U.S. left their job and changed careers at some point last year. Sixty one percent of adults from that group were between the ages of 18 and 29. While 45 percent were ages 30 and older. The analysis was based on data collected from 6,627 non-retired U.S. adults, including 965 of them who say they resigned voluntarily.
A CNBC article cites the report as a motivator for those looking to take the leap themselves and make a career change. The story starts off by saying, “If you want to change careers, you are not alone.” But a closer look at the numbers reveals workers under 30 were the ones more likely to say they have made this type of change. The survey relies heavily on what this particular age group says, which may not apply to everyone considering a career change. It makes it appear as if a career change is much more common than it actually is. People under 30 are typically the ones looking to build their career experience, especially when they have just graduated from school. It is not surprising that they are exploring new careers.
There is also a notable difference between college-educated employees and others with respect to their job satisfaction following a change of job. Sixty six percent of college-educated workers reported higher pay and satisfaction at their new job compared to 51 percent with a lower education. Twenty seven percent of those with a high school degree saw a pay reduction and lower satisfaction when they changed careers.
The article is also notable for what it doesn’t say. The story misses the point that quitting your job is not a requirement for changing careers. It is better to look towards a career transition while you are still employed. Real Estate Witch surveyed 1,000 people who resigned from their jobs since January 2021. The survey found over half of the respondents took an average pay cut of $8,000 per year when they quit and found a job later on. If you can’t afford to lose from your annual paycheck, it’s best to secure another position before you put in that resignation. The survey shows workers who resigned with a job lined up took less of a pay cut than those who quit without another offer but later found employment.
Low pay, a lack of opportunities for advancement, and feeling disrespected at work were the top reasons why Americans quit their jobs last year. If you are not moving forward in your career at your current job, it is better to look for a new one where you are rewarded for your skills. There is no point in you staying with your current company long-term if you are not learning any new skills or up for promotion.
Comments are closed.