New Mexico woman regrets 7 years of 'loyalty' to PR firm after leaving with debt and no 401(k). How to protect your pay, benefits and future

“I used to believe success was about checking all the right boxes: degree, promotion, title, loyalty,” Mercer wrote in an essay for Business Insider (1). “Now, I see it differently.”

Her story is a reminder that career stability isn’t guaranteed — and that even people who believe they’ve “done everything right” can still find themselves financially exposed.

She thought she did everything right

In her essay for Business Insider, Mercer said she began her career at a boutique PR and communications firm in New Mexico, working her way up from intern to vice president while earning an MBA along the way. She believed loyalty and hard work would translate into long-term security for herself and her family.

Instead, when she left in 2023, she says she discovered her retirement savings were effectively nonexistent.

Mercer said she had enrolled in the company’s 401(k) early on, contributing 3% to capture the employer match. But when she reviewed her accounts years later, she found the balance was still zero. The account existed, but no contributions had ever been deposited. She contacted the plan administrator but never got a clear explanation.

At the same time, she was carrying about $12,000 in MBA-related debt and struggling to find stable work. A noncompete agreement she signed early in her career restricted her from working in her field within her state for two years, forcing her to rely on contract gigs and side work, including food delivery driving, while continuing her job search.

Looking back, she believed she had followed the traditional playbook — stay loyal, work hard, invest in education — only to find that those choices didn’t guarantee financial security.

“Sometimes, the best thing you can do for yourself is pause, ask questions and advocate for your future self, even when it feels uncomfortable,” Mercer wrote.

“Check your accounts. Read every line before you sign. Protect your autonomy like it's your paycheck, because in many ways, it is.”

Why loyalty doesn’t pay the way it used to

Mercer’s experience reflects a broader shift in the labor market. For much of the 20th century, long tenure often led to pensions, steady raises and employer-sponsored stability. Today, however, workers who change jobs frequently tend to see faster pay growth.

Pew Research Center analysis from 2022 found that about 60% of U.S. workers who changed jobs saw real (inflation‑adjusted) pay gains (2), versus fewer than half of those who stayed put, and typical real gains for switchers were much larger. In many cases, internal promotions, while valuable, don’t always keep pace with outside offers.

At the same time, the job landscape has become more complicated. Layoffs in certain industries, hiring slowdowns and geographic constraints can make jumping to a new role riskier than it appears. Noncompete agreements can further limit mobility, as Mercer found out.

The Federal Trade Commission (FTC) adopted a sweeping rule in 2024 that would have banned most post-employment noncompetes nationwide, finding them an unfair method of competition that harms worker mobility and innovation (3).​

But federal courts later blocked the rule, though the FTC has explicitly shifted to case‑by‑case enforcement, using Section 5 of the FTC Act to challenge “unjustified” or overbroad noncompetes.

How to protect your pay, benefits and future

Mercer’s story also highlights a critical but often overlooked issue: retirement oversight. Failing to monitor payroll deductions, employer matches or plan activity can lead to costly gaps that compound over time. Even small missed contributions early in a career can mean tens of thousands of dollars less at retirement due to lost compounding.