Job change and your financial health Credit Score: In a caree | Credclub

Job change and your financial health

Credit Score: In a career transition that lasts longer than you predicted, you might get behind the credit card or EMI payments. This will impact your credit score.

Your lifetime earning potential: Changing jobs at optimum durations might have a significant positive impact on your lifetime earning potential. Forbes reports that the earnings loss of staying at 1 company for too long is bigger than people intuitively expect. People staying at 1 company for 2+ years on average might earn 50% less over their lifetime compared to people who change jobs more often.

Insurance: When one’s health insurance is tied with one’s employer, changing jobs could risk health coverage.

EPFs: Employee Provident Funds offer a convenient route to people to plan for retirement and maintain a life insurance policy. Hopping jobs will also require readjustments on these fronts.


What are some of the things you consider while deciding on a job change?