Australia’s workforce is more mobile than ever. The days of a job for life are fading, replaced by a ‘revolving door’ of roles, industries, and opportunities. In 2025, job-hopping isn’t just a career trend—it’s a fact of life for many Australians. But how does this affect your financial security, borrowing power, and long-term goals?
Why Are More Australians Job-Hopping?
According to the latest ABS data, 13% of Australian workers changed jobs in the past year, the highest rate since 2012. The drivers are varied:
- Remote work and digital transformation: Flexible work options make it easier to switch roles and employers.
- Skills shortages: Certain sectors (tech, healthcare, construction) are competing fiercely for talent, luring workers with higher pay and perks.
- Burnout and work-life balance: Many employees are leaving for better mental health or lifestyle fit.
But while the career benefits are clear—higher wages, faster progression, and skill development—the financial implications are more complex.
How Job-Hopping Impacts Your Finances
Changing jobs can deliver a quick salary boost. In 2025, average wage growth from job-switching is 7.1%, outpacing inflation and the average for those who stay put. However, there are hidden costs and risks:
- Superannuation Leakage: Multiple jobs often mean multiple super accounts, which can erode retirement savings via duplicated fees and insurance. The ATO estimates over $10 billion is still sitting in lost or inactive super accounts in 2025.
- Probation Period Pitfalls: Lenders scrutinise employment history. If you’re in a probation period, banks may delay or deny mortgage applications, making it harder to buy property.
- Gaps in Income: Transition periods between jobs can result in short-term cash flow issues, especially if payouts or new contracts are delayed.
Real-world example: Sarah, a 29-year-old marketing professional from Brisbane, switched jobs twice in 18 months. While her salary increased by $15,000, she discovered two lost super accounts and had her home loan approval delayed due to a probation period.
Policy Updates and What to Watch in 2025
The federal government has responded to these trends with several policy tweaks:
- Single Default Super: Under the ‘Your Future, Your Super’ reforms, your super fund now follows you when you switch jobs—helping to curb account proliferation.
- Portable Long Service Leave: Some states (notably Victoria and NSW) are trialling portable long service leave for sectors with high mobility, such as early childhood education and construction.
- Credit Policy Tightening: In 2025, major lenders have revised credit policies to require at least 6 months of employment in a new role for certain types of loans, especially for those with multiple job changes in the past two years.
These changes are designed to support a more dynamic workforce—but they also mean job-hoppers need to be more proactive in managing their money.
Smart Moves for the Modern Job-Hopper
If you’re embracing the revolving door, consider these strategies:
- Consolidate Super: Check for lost or duplicate accounts on myGov and consolidate to save on fees.
- Buffer Savings: Build an emergency fund to cover any income gaps between jobs.
- Update Insurance: Review life and income protection cover, as changing jobs may affect your policies.
- Plan Big Purchases: If you’re thinking of buying property or a car, try to time your application outside of probation periods and after at least 6 months in your new role.
Conclusion: The Revolving Door Isn’t Closing
Job-hopping can turbocharge your career and earning power—but it pays to be smart about the financial side. With the right planning, you can enjoy both flexibility and security, turning the revolving door into a stepping stone for wealth, not a setback.
