Do employees suffer from having too many jumps in their Resume? After some time, companies would be less inclined to hire these people right?
Employees who stay in companies longer than two years get paid 50% less (2014)
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Re: Employees who stay in companies longer than two years get paid 50% less (2014)
#42I really wish this would change. I'm sick of constantly moving around every few years.
Too be fair the last 3 startups I worked at failed financially but still.
I would love to go work somewhere for 5-10 years. It's just hard to find these days.
Re: Employees who stay in companies longer than two years get paid 50% less (2014)
#43Yep, I see this in industrial automation. My company is particularly bad about it, since the corporate office is in Houston where you can hire people for the duration of a project fairly easily. Problem is, my part of the company isn't in Houston, so qualified employees are hard to find. So we need to hold on to people, which is hard when we rarely hand out raises. I do my best to train up my guys, but I know that th…
Unionize. It is the only way to obtain agency.
Re: Employees who stay in companies longer than two years get paid 50% less (2014)
#44Such is the nature of life. FTEs who invest the considerable amount of time to continually do a job search are investing a lot more of themselves into their work than guys who stay in the same SWE II role for 10 years straight. They also, pretty much by definition, have more bargaining power even if they stay in their current roles - because they have other jobs on the table to credibly bargain with.
Re: Employees who stay in companies longer than two years get paid 50% less (2014)
#45Though at some point it feels like you reach a ceiling even if you change jobs.
I've run into this. I work at a place that claims they pay top market rate. I've poked around other options and it seems like they're right about that! Back in 2014 when this article was posted, it was probably more true. Lots of money frothing around and salaries were growing and growing faster than employers were willing to keep up with for existing employees (although even then, I had a job that gave me a substant…
I've run into this too, hopping from one FAANG to another. In fact, the second company's comp offer was so close to my current comp (about 0.1% over), it's hard to imagine there wasn't some covert information sharing going on.
The "job hop for a salary bump" conversations always seem to assume you are early in your career, where this works. My first job hop was for about +50%. My second one was for around +20%. 20 years into my career, job hopping does not seem to increase my comp at all. The plateau is real.
After a certain point, you have to change roles and/or move into management.
Re: Employees who stay in companies longer than two years get paid 50% less (2014)
#46It is better to leave the job and get hired again, than be loyal to the same company.
Re: Employees who stay in companies longer than two years get paid 50% less (2014)
#47Do employees suffer from having too many jumps in their Resume? After some time, companies would be less inclined to hire these people right?
I can't imagine it would be too much, depending on how it's worded it could show that the applicant has a 'wide range of experience'. Plus I kind of wonder if HR would already take that into account, it's not just software engineers and salespeople doing it, it's everyone, HR and Execs included
Re: Employees who stay in companies longer than two years get paid 50% less (2014)
#48This is a hideous truth: loyalty is punished under modern corporate feudalism.
I don't think calling it "feudalism" is quite right, because feudalism as a system depends extensively on personal loyalties at each step of the chain of authority. The death of feudalism came from monarchs developing enough administrative power that they no longer had to depend on the loyalty of their vassals to control areas outside their personal domains.
Re: Employees who stay in companies longer than two years get paid 50% less (2014)
#49Tell this to NVDA employees.
This gets into "salary vs. equity," and it's a fair point. On paper, Cisco turned me into a millionaire over a decade. However, when 2001 occurred those gains were wiped out. I was left with a lot of tears and a big tax bill. Hence I am near 60 and still planning on working for a good while to come.
A Cisco-like or Nvidia-like unicorn lifetime achievement is what everyone hopes for when they sign up for a Silicon Valley startup, but you can see the misery index rise when the stock is underwater and it make take years, a decade or more — or never — for those stock certificates to even be worth the paper you'd print them on. I've been at a number of startups where you can walk away after 2 or 5 years partially or fully vested and your options are not worth optioning.
Some people are indeed early Cisco millionaires. Many others only get in after the stock tumbles and are just really grinding away for salary.
Nvidia will also eventually find its natural limit. Joining Nvidia in 2024 is totally different than having joined it in 2014 when this article was written.
YMMV on this, widely.
Re: Employees who stay in companies longer than two years get paid 50% less (2014)
#50Earlier quoted context omitted.
I've run into this. I work at a place that claims they pay top market rate. I've poked around other options and it seems like they're right about that! Back in 2014 when this article was posted, it was probably more true. Lots of money frothing around and salaries were growing and growing faster than employers were willing to keep up with for existing employees (although even then, I had a job that gave me a substant…
I've run into this too, hopping from one FAANG to another. In fact, the second company's comp offer was so close to my current comp (about 0.1% over), it's hard to imagine there wasn't some covert information sharing going on. The "job hop for a salary bump" conversations always seem to assume you are early in your career, where this works. My first job hop was for about +50%. My second one was for around +20%. 20 ye…
> always seem to assume you are early in your career, where this works
hah to be fair..2014 was early in my career. So maybe it was due to me rather than a sign of the times.