External job changes are often celebrated as career growth. Internal moves to different teams, divisions, or functions are underrated and frequently produce similar growth without disrupting compensation, benefits, network, or institutional knowledge.
What internal moves preserve
Tenure-based benefits (pension matching, vacation accrual). Existing relationships and political capital. Institutional knowledge (substantial advantage in new role). Salary history and progression (often easier to negotiate internally). Companies with rotational programs or formal internal mobility are best suited.
What external moves still do better
Pay jumps (often 15-30% on external moves vs. 5-10% internally). Truly fresh start. Industry or company culture change.
Both options have a place; the default to external is over-applied. Audit your current company's internal options before assuming external is the only path.