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I have a co-worker who this could apply to.......she's been working in this department since (I think) 1982, and has stayed in the same position for all these years.
what the different from someone moving from company to company every six year to someone that just stays at a single company for forty years
OK, so if you are making moves to advance and or more money, you are growing your career. If you stay at one place, and you take the risks and advance through the ranks, you are also growing your career, there are examples of people starting in the mailroom and eventually becoming CEO. But, it sounds like the OP just wants a secure lifetime job, that means you are in a box and probably going to top out in some category, that's fine if that's what you want.
I think it's up to you. My grandfather worked at oil refinery enterprise for 30 years and he was ok with it.He earned enough couple of money complaining to other citizens at his time, although he was a simple worker there.He also got additional pension when he get retired,from his factory (which is very rare in our country now).
As to me,I am 28 years old, and my work experience after University graduing is near 6 years.I changed 4 works during this time (My first working longed 4 years, then I desided to go out and find myself elsewhere). When I came to my last work in сompanу designing seaports, terminals and transport systems,everything seemed okay,especially in circumstances of our national finansial crysis and instability in payment in building sector. Some time had passed, and I've started looking around.I saw many people, working there for more than 20 years. My colleagues in office room were to women, 75 years old, and 70 years old. Both of them came here when they were 23 years old. I saw men, 40-50 years old, working here 10-20 years long. So I thought it would be me 10 years after this moment. I've desided that I'am not going to be here after 10 yeards, despite payment stability.So I stopped myself at his moment and came out of this work, after a year i had spent there.The main reason I did it because it came rather boring to me - to do the same thing day-to-day,see the same people. Furthermore my monthly wage had no chance to increase for a long time. Now I am freelancer, and I find it more interesting to do.
I see a lot of people retiring at my company who have been here for 30+ years. The thing is, they were here before the traditional pension and retiree healthcare was phased out.
I would still like to stay here for the rest of my career if possible. The pay is good, and we have excellent benefits. This includes a very healthy 401k match, as well as generous vacation policies, and a lot of built in holidays. I currently have 4 weeks of vacation, but will hit 5 after 10 years. There are also a lot of opportunities to change jobs within the company.
Do you believe you can be in the same job in the same company for many years?
Being loyal and faithful to the same company.
As my job has been my first and ONLY job out of college.
Can you possibly be at the same job in the same company for lets say
10 years, 20 years, 40 years, 60 years?
In other words being a lifer?
Or is this something that's more common back in the 90's?
I've been at my current job 17 years. I came here for the benefits (retirement, pension, PTO) and stability of being a government funded position. I have the most seniority of the 3 people in my department who have similar job duties & titles. I plan to be here until I retire. My job duties haven't changed much, but I've had opportunities to change jobs within the organization. I like stability and don't want to supervise anyone. So I'll just keep keepin' on. There isn't another salary contributing to my living expenses, so I don't want to job hop in case "the grass isn't greener."
If I didn't have a pension, I doubt I'd have ever worked here. This is my second job since getting my Bachelor's degree. I was at my previous employer for 9 years.
Being loyal and faithful to the same company.
As my job has been my first and ONLY job out of college.
Can you possibly be at the same job in the same company for lets say
10 years , 20 years, 40 years, 60 years?
In other words being a lifer?
Or is this something thats more common back in the 90's?
Can I be loyal to the same company? Absolutely. As long as they provide advancement opportunities.
Can I be in the same position for life? Not a chance. I can't stand to stagnate, so after a few years in a position I begin looking for growth opportunities. If none are there and I can't find a way to make an opportunity I will begin looking for companies who can provide those. Once I get to my set goals of a specific amount of money per year then I will consider becoming a lifer.
I have some co-workers who are lifers. They have become so comfortable in their position that they put in very minimal effort to get their job done. This often times means I have to pick up their slack. I don't like to get comfortable in a job. By staying just outside of my comfort zone I tend to work harder to succeed. When it becomes the same routine I find that a lot of times people just go on auto-pilot. To me that isn't good for those who don't follow that mindset, nor the company.
what the different from someone moving from company to company every six year to someone that just stays at a single company for forty years
Simple.
When you come into a company, you lock in at the current market rate. Any raises you get past that are based upon a percentage of that current rate. Salaries change over the years depending on the job market, but typically there are no adjustments to salaries to bring people up to the current market rate. Sometimes people get COL adjustments, but they rarely provide any real bump.
Let's say I hire in at company A for $50k per year. Standard raises are 3% per year.
1st year raise - $1,500 ($51,500)
2nd year raise - $1,545 ($53,045)
3rd year raise - $1,591.35 ($54,636.35)
4th year raise - $1,639.09 ($56,275)
5th year raise - $1,688.25 ($57,963.25)
6th year raise - $1,738.90 ($59,702.15)
7th year raise - $1,791.06 ($61,493.21)
8th year raise - $1,844.80 ($63,338.01)
My co-worker hires on at the company during my 4th year at $60k per year.
1st year raise - $1,800 ($61,800)
2nd year raise - $1,854 ($63,654)
3rd year raise - $1,909.02 ($65,563.62)
4th year raise - $1,966.91 ($67,530.52)
When my co-worker reaches their 4th year, I am on my 8th. In 8 years, I still make less than my co-worker who hired in at a much higher market rate. By leaving and going to another company I am able to keep my salary in line with the market. Since I have more experience, I can find a similar job that I can hire in at a higher experience level which means my starting salary could be MUCH higher.
Some companies promote to keep people at a higher rate, but others leave you locked in. In those instances, the only way to see a significant increase is to move around.
If you started a position and remained in the same position in the same company for 40 years (not factoring in COL adjustments... just a standard 3% raise) and considering that there is an upper limit in the salary range of a certain job that a lot of people will reach within 15 years or so you will top out unless you are promoted. By moving, you leverage your experience to get you more money coming in the door. Company A isn't likely to say that since a new hire could come in for $65k with your experience, they are going to adjust your salary accordingly. You're going to continue to get raises based upon what you originally hired in under.
If you start a position at $50k in company A and work there for 5 years you would be at $56,275.
If you jump to company B after 5 years at $65k and work in the same position there for another 5 years, you would be at $73,158.07. (If you had stayed at company A you would only be at $65,238.66 in 10 years).
If you leave company B after 5 years and move to company C at $80,000 per year in 5 years you would be at $90,040.70. If you had stayed the 10 years at company B you would only be at $84k, and 15 years at company A would have only gotten you to $75,629).
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