Bank of America internal deposit data shows the top 5% who stayed saw year-over-year pay hikes approaching double digits, while the same group who switched saw low-single-digit increases. For all other workers excluding the top 5%, higher after-tax wage increases occurred when switching jobs. About half of stayers and 44% of switchers saw no pay increase, with some experiencing decreases in Q1 2026. Bank of America attributes the gap to labor market slowdown in higher-paying industries and a low-hire, low-fire environment reducing premiums for switchers. ADP data for January shows only a 1.9% average pay growth difference between switchers and stayers, with job-hopper gains concentrated in construction, natural resources, and mining at 6.6% versus 5.6% for stayers.
Read at Fortune
Unable to calculate read time
Collection
[
|
...
]