Employees can also maximise their salary by switching jobs when they’re younger. While data for Singapore is limited, the Resolution Foundation in the UK found that “frequent moves are key to the steep pay progression trajectory successive cohorts experience as they gain a foothold in the jobs market. Crucially the ‘switching premium’ relative to those who stay put is greater when young.” Data showed that ‘job stayers’ averaged 4.4 per cent median annual pay growth for 18-29 year olds over 2007-2014, compared to 11.8 per cent for ‘job switchers’.

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