Scott Galloway warns job-hopping for pay rises may backfire for older workers
Workers may be overpaid as often as underpaid during their careers, Galloway says, as labour data shows older displaced workers face greater difficulty returning to employment.
Scott Galloway has warned that workers should not assume every job change will deliver a pay rise, arguing that careers can include periods of both overpayment and underpayment.
In comments reported by Yahoo Finance, Galloway said years of promotions and salary increases could create expectations that a new role should match or exceed a worker’s existing pay. That assumption may become more difficult to sustain later in a career, when finding comparable work after a redundancy can take longer.
The Urban Institute has found older workers are less likely to lose their jobs than younger counterparts, but may face greater difficulty finding new employment after displacement. Ageism was cited as one possible factor.
Bureau of Labor Statistics data cited in the report showed 57.3 per cent of long-tenured workers aged 55 to 64 who were displaced between 2023 and 2025 were employed again by January 2026. The comparable figure for workers aged 25 to 54 was 72.9 per cent.
Job switching can still produce stronger wage growth. Federal Reserve Bank of Atlanta data cited by the report showed median wage growth of 4.4 per cent for job changers in July 2026, compared with 3.6 per cent for workers who stayed in their roles. The figures do not establish that changing jobs caused the difference.
Galloway also pointed to a 2025 Payscale survey in which 68 per cent of workers said they were underpaid, including 47 per cent whose pay was above market rates. He said a lower-paid role can sometimes offer greater stability, benefits or future earning potential, though the value of such a move will vary by worker and circumstances.
