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Do Not Change Your Job

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Re: Do Not Change Your Job

#31

Post by seattle_spring »

MattGaiser wrote: post #21
tayo42 wrote: post #14

Earlier quoted context omitted.

I always hear this but I work at a company maybe a tier below the acronym, Public and a household name, and unless I go to a company like Google or fb most companies seem to be a lateral move at best even with the higher title. I'm coming up on 5 years. Stock did well last year so I made a little over 300k, this year I think I'm on track for mid 200s

You are already sitting near the top. For us more average people, jumps are 10-20% a year.

Mid-200k is not anywhere close to near the top. That's a low L4 package at mid-sized companies like Uber, Lyft, Airbnb, Stripe, etc.

Re: Do Not Change Your Job

#33

Post by Johnny555 »

Staying at the same company for a long time usually makes you more valuable to that company without making you more valuable to other companies (sometimes making you less valuable if all you've ever used is the custom toolset at that one company instead of more popular tools)

Re: Do Not Change Your Job

#34

Post by OmarIsmail »

The industry does not properly reward long tenure. If the person stays curious and hungry then the accumulated knowledge and experience they hold is worth a tremendous amount. Smart companies will start appreciating and compensating for this in the future.

Re: Do Not Change Your Job

#35

Post by apsurd »

peapicker wrote: post #19
angarg12 wrote: post #17

I stayed in my first job 7 years and my total compensation increase was 16%. An accumulated raise over 7 years of 16%. Choose to jump or not, but make an informed decision.

I’ve stayed at my current job 24 years. I was hired at a Senior level above my experience with better pay than I probably deserved as I was 18 month out of uni. Still, my total increase is 278%. I had a 7 year span in the middle with almost no increase - about 7%. I wonder if those seven years coincide and were during an economic downturn?

You are back justifying a linear reality of "only upward".

I've never really understood this line of thinking. Of course in retrospect now that all information is known, we can linearly quantify a per year rate of return as "non ideal".

But what is the point of that I wonder. This company took a chance on OP and they feel gratitude. This is enough imo.

Re: Do Not Change Your Job

#36

Post by zuhayeer »

In my opinion, employers need to do more to significantly reward existing employees they want to retain. Right now, I can see how frustrating it could be for tenured employees when new hires come in with (quite a bit) higher comp packages than them, while they get a measly pay bump in accordance with inflation (sometimes even less).

Routinely see 100% increases in total compensation for switching jobs. But I’ve never seen a 100% increase made internally even for a great performer on a team. Hoping we'll start to see change here, and that we see better designed incentives to keep people around. If you don't reward your employees, you're creating the revolving door for them to keep hopping around.

Re: Do Not Change Your Job

#37

Post by pjmlp »

MattGaiser wrote: post #29
boznz wrote: post #16

Strange I used to throw CV's in the rubbish bin if they repeatedly moved jobs every 2 years or under. My rational for that was that they would probably only last 2 years in our company so I preferred someone more stable. Small teams hurt when you keep loosing staff and training is not cheap.

> Small teams hurt when you keep loosing staff and training is not cheap. How come companies don't price that in accordingly then?

Some actually do, but not as you are thinking, if you hop in less than X years, all trainings have to be paid back.

Re: Do Not Change Your Job

#38

Post by Areading314 »

Johnny555 wrote: post #33

Staying at the same company for a long time usually makes you more valuable to that company without making you more valuable to other companies (sometimes making you less valuable if all you've ever used is the custom toolset at that one company instead of more popular tools)

Absolutely true. Hard truth for some but tenure at a big company working in some internal framework is often next to useless at another company with a different tech stack (thinking in a custom C++ library framework instead of thinking in well known open source frameworks). Some skills carry over (especially soft skills that are so often under-invested in by engineers), but some just don't.

Re: Do Not Change Your Job

#39

Post by PaulKeeble »

Johnny555 wrote: post #33

Staying at the same company for a long time usually makes you more valuable to that company without making you more valuable to other companies (sometimes making you less valuable if all you've ever used is the custom toolset at that one company instead of more popular tools)

In a lot of cases companies don't seem to value the long tenure and move compensation inline with worth to them. The end result is a lot of people leave because companies don't value them and they have to move to maintain career and compensation progression.
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