Changing jobs requires careful financial planning across multiple stages. Before accepting a new position, calculate your full current compensation. This includes salary, bonuses, stock options, restricted stock units, employer 401(k) contributions, pension benefits and the portion of health insurance your company pays. Compare the new offer against this complete picture to understand what you might be giving up.
Timing your departure matters. Note upcoming bonus payments and equity vesting dates, since you may forfeit compensation if you leave before these milestones. Review governing documents carefully, as eligibility rules vary by benefit. Even waiting a few weeks can preserve money you've already earned.
When choosing your last day, consider health coverage. Depending on your policy, coverage may end on your last day or continue through month-end. Leaving early in the month could extend your coverage by several weeks. If you plan time off before your next job starts, COBRA continuation coverage can bridge gaps, though you'll pay the full premium yourself. Compare this cost with coverage available through a spouse's plan.
Before your last day, gather documents and create personal logins for company-sponsored financial accounts. Replace your work email address on outside accounts. Download important documents, following company policy. Schedule any medical, dental or vision appointments before your current coverage ends, especially if switching providers.
Once you start your new job, enroll in the retirement plan promptly and contribute enough to receive the full employer match. The annual 401(k) contribution limit applies across all employers combined, not per employer, so check how much you contributed at your former job before choosing a new deferral rate. Your new employer won't have that information.
Decide what to do with your former employer's 401(k). You can leave it in place, transfer it to your new workplace plan if accepted, or roll it into an IRA. Moving pretax 401(k) assets into an IRA can make future backdoor Roth conversions partly taxable under the pro rata rule.
If you work for multiple employers during the year, watch Social Security tax withholding. In 2026, employees pay the 6.2% Social Security tax on the first $184,500 of wages. Each employer applies the limit separately, which sometimes results in excess withholding that you can claim as a credit on Schedule 3 of your federal tax return.
Compare your new health coverage with any option through a spouse's plan and check whether the change affects your eligibility to contribute to a health savings account. HSA contribution limits depend on the number of months you're eligible, so a midyear coverage change might reduce your permitted contribution.