According to a study by the University of Queensland,¹ Australians change jobs approximately every two years and nine months. That’s around 16 different jobs over a 45-year career!

Of course, this is on average. Factors such as your industry, age, personal circumstances, and education also determine how likely you are to job-hop across the employment landscape. 

For example, Millennials and Gen Zers are generally less ‘employer-loyal’ and place a much bigger emphasis on career variety and satisfaction. This means they’re happier to change jobs more frequently than their older workmates. 

Workers with a bachelor’s degree or a higher qualification also tend to switch more often, with their qualifications and skills making it easier for them to seek new opportunities within and across industries.

Common reasons² people will move from one job or career to the next include:

• to chase better opportunities (better pay and conditions, more fulfilling work etc)
• to leave a toxic work environment or industry
• to find a role with more career advancement opportunities
• to leave a specific boss or manager
• being dismissed or made redundant

Changing jobs and your super

Regardless of how many jobs you have over the years, one thing stays with you in every workplace: your super. Here are three tips to keep your super working for you, even if you decide to work for someone else.  

1. Tell your new employer your preferred fund

Once upon a time, a new job meant joining a new super fund. This resulted in a lot of workers ending up with multiple super accounts and paying multiple sets of super fees.

Thankfully, since November 2021, you’re now ‘stapled’ to your ‘active’ super fund. This means you automatically stay with your existing fund when you change jobs.

While stapling means your new employer can look up your active account with the ATO, it’s a good idea to let them know your fund details to ensure a smooth transition.

You can do this by completing a Choice form or giving your employer our fund details directly.

2. Consider combining accounts

If you’ve had more than one job (especially before 2021), you might have more than one super account. This means you might be paying multiple sets of super fees. By combining accounts, you can save fees and manage your super much easier.

For details, visit Combine your super.

3. Review your insurance 

Changing jobs can mean big changes to your personal and financial situation. So, now’s a good time to make sure your insurance still meets your needs. 
Check to make sure any cover you have reflects changes to your income.

If you’ve changed careers, check your ‘occupation rating’. It’s used to calculate the cost of your cover and reflects the type of work you do. If you’re in the wrong occupation rating category, you might be paying too much for your cover. 

For example, if you used to work on a construction site but now work in an office, you might be able to reduce your insurance fees.

You can check and update your insurance at any time in Member Online.

4. Consider adding more to super

If your new job comes with a pay increase, think about using some of that extra money to grow your super faster. Even an extra ten or twenty dollars a week can make a huge difference to your balance later.

Sources: 
1 - How many career changes in a lifetime? – The Uni of Qld
2 - Why Millennials and Gen Z Change Jobs Often