A huge problem with this industry is the inflexibility to pay current engineers LARGELY increasing comp each year. The thought is that there is a market rate for an engineer and that pay can increase with the market rate, but this is a fallacy. An engineer that has been at a largish company for 1 year is worth 20-30% more than the year they were hired because they have specific knowledge of the tech stack. Yet that e…
Many people stay back in a company even knowing they could probably get more if they try else where (ex: work like balance, friends, job security in the long term, exciting work etc). When a org has sufficient no of such ppl, it doesn't matter to them when they lose some 1-2 start performers. Also, there's no guarantee those star performers would stay back even if they are paid higher salaries !!