Should You Find A New Job In Order To Get A Raise?

Photo: David Brandon Geeting
Millennials are often criticised for being job-hopping dilettantes. "No one has company loyalty these days!" goes the old lament. The thing is, constantly having to train new employees is a time and energy suck, but so does being underpaid long-term.
According to Pew Research Center, people between ages 18 to 35 do not go from job to job at a higher rate than adults in the past did at the same ages. (In fact, Pew's analysis suggests that millennials may actually be sticking around at their jobs longer than people in the previous generation did.) However, the 21% of millennials who did choose to seek greener pastures in 2016 might be on to something, at least when it comes to their paychecks.
By some estimates, staying at the same company for more than two years can result in you earning 50% less — or more — over the course of your lifetime. Most companies will only go so high when it comes to giving out yearly raises — even with a title change — so changing jobs can be a prime way to negotiate more pay, especially for women.
This is also the reason many people are lobbying to make it illegal for potential employers to require that job candidates disclose their current or previous salaries. Since women already earn less than men on average, basing future earnings on a figure that’s already off-balance only leads to a wider gap over time.
But this manoeuvring can put people in an awkward position. What if you really love your job, but know you're under-earning? Should you look for a new job and use an offer you get as a bargaining chip to get the raise? Or will that make you look greedy, manipulative, and uninterested in the job you have?
Here’s a step-by-step guide on how to make your way through the process so that you can earn the paycheck you deserve without ruining relationships along the way.