People who have switched jobs multiple times have £15,000 more in pension savings than the average person, mainly because they end up earning more than the average.

Research from Aviva-owned robo-adviser Wealthify suggested that 4.3 million people (13%) have switched jobs four or more times in the last 10 years.

The survey showed that job hoppers have £12,000 more than those who have only switched jobs once in the past decade with the latter also saving more into their pension than the average.

Job switchers have an average (mean) of £105,538 in pension savings, compared to £89,762 for the average UK adult, and £93,234 for those who have only switched jobs once.

Nearly a fifth of 18-34-year-olds (18%) are frequently switching jobs, some of whom will still be early in their careers. However, more than one in ten (11%) 34-54-year-olds have also switched jobs more than four times in the last 10 years.

The sectors with the highest number of people swapping jobs regularly are hospitality (28%), healthcare (22%), food & drink (22%) and education (21%). Computing (20%) and financial services (17%), often well-paid industries, also have a significant proportion of frequent job hoppers.

The average income of job hoppers is £39,276 a year, nearly £10,000 more than the average income of those surveyed as a whole (£30,088), and more than those who have only switched jobs once in the last decade (£35,403).

London has the highest proportion of job hoppers (19%), followed by the North East (18%), and the West Midlands (14%). The East Midlands (9%), the South West (9%) and Northern Ireland (6%), have the lowest proportion.

More than a third (34%) of job hoppers have four or more pots, compared to only 14% of the general UK population.

Fewer than one in four (23%) of those who have switched jobs four or more times have only one pension pot, compared to two fifths (41%) of the average population.

The number of job hoppers who have a private pension (18%) is roughly equivalent to the population average (19%), suggesting that most job hoppers’ retirement savings are held in workplace pensions. 

Michelle Pearce-Burke, co-founder of Wealthify, said: “Being strategic about switching up your career at the right time can be great for boosting your earning power and, if you’re savvy, growing your retirement funds too.”

• Research conducted among 4,000 UK adults on behalf of Wealthify by Opinium Research between 3 September - 6 September.