> significant amount of selection bias possible here
There's another one: I once heard the phenomenon described as "the difference between having ten years of experience versus having one year of experience ten times". The kind of people who end up having ten years of experience will typically be the kind of people who will want to move on and do something new/more after having mastered a given set of tasks. Sometimes they can do this inside the same company, but oftentimes they will need to look outside and switch jobs for the challenges they're after.
The other kind will typically value stability and comfort over money (and let's not underestimate the stress of applying, interviewing and switching jobs). Sometimes they will have "fallen" more or less accidentally into this mode, but I've met more than a few good people who actively choses this, and explicitly acknowledges that it's not exactly a money-play.
When the former kind makes more money, it's not because they switch jobs often, that's just a symptom. People in investment banking or management consulting with clearly defined up-or-out career paths are subjected to the same dynamic, and also make a lot of money.
There's another one: I once heard the phenomenon described as "the difference between having ten years of experience versus having one year of experience ten times". The kind of people who end up having ten years of experience will typically be the kind of people who will want to move on and do something new/more after having mastered a given set of tasks. Sometimes they can do this inside the same company, but oftentimes they will need to look outside and switch jobs for the challenges they're after.
The other kind will typically value stability and comfort over money (and let's not underestimate the stress of applying, interviewing and switching jobs). Sometimes they will have "fallen" more or less accidentally into this mode, but I've met more than a few good people who actively choses this, and explicitly acknowledges that it's not exactly a money-play.
When the former kind makes more money, it's not because they switch jobs often, that's just a symptom. People in investment banking or management consulting with clearly defined up-or-out career paths are subjected to the same dynamic, and also make a lot of money.