A majority of Individuals, 95%, mentioned they plan to search for a brand new job this 12 months, in keeping with a January 2024 survey by job web site Monster.

Cash is a giant purpose, with 45% of staff saying they want the next earnings.

Knowledge from the Federal Reserve exhibits that job switchers enhance their salaries extra shortly, on common, than those that keep put. However specializing in cash alone will not be one of the best technique.

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Kyyah Abdul, a 29-year-old biotech and pharmaceutical world regulatory affairs guide, knew early in her profession that she ultimately needed to work for herself.

“I’ve all the time had this concept of the place I needed to finish up in a sure period of time,” Abdul, who is predicated in Los Angeles, advised CNBC. “I advised myself, ‘Okay, across the age of 30, attempt to get sufficient expertise and publicity to the issues which can be required to have a consulting agency.'”

Abdul has targeted on upskilling slightly than solely cash. She’s modified jobs in her trade six instances since 2016. The primary time she switched jobs, she took a $20,000 pay minimize in an effort to acquire expertise.

“I knew that that was okay as a result of it could come again tenfold primarily based on the expertise I used to be going to be getting on the new place of job,” she mentioned. “I ended up … nearly doubling my wage after a 12 months and a half.”

Abdul advised CNBC she continued to develop her wage by way of promotions and different job hops.

This deal with expertise might help insulate workers from layoffs, consultants say, as a result of they’re constructing new abilities that justify that greater pay.

“You do not need to stand up the ranks too shortly after which be this costly head that is kind of straightforward to cut in any type of downturn,” mentioned Julia Pollak, chief economist at ZipRecruiter.

“I’ve seen lots of people desirous to job hop as a result of they need the next wage however not understanding that that greater wage comes with obligations and comes along with your skill to carry out,” Abdul mentioned. “It is a mutually useful relationship, so if you cannot maintain up your finish of the cut price, that is how you find yourself getting laid off.”

Watch the video above to study extra about when to contemplate leaving your job and the way to method your job search strategically.