Basically, why do I get such big raises when I switch companies, but getting a nontrivial raise when at a company is like pulling teeth?
How come every company I work for is willing to give me a huge raise and reward me for my achievements at other companies, and not do the same for achievements at that company?
The discussion that followed was illustrative. But I just came to accept it as a fact of life. I wish I could find a place to invest myself in long term, but that has yet to be found...
It's important to remember the whole "30-40% raise when you switch jobs" only really happens at the beginning of your career. Your next job switch will maybe be 20-30%, your next one 10-20%, etc. until you reach the inevitable compensation plateau. I'm over 20 years into my career and my last job change was for +1% or so. No company would offer more.
If one could actually get a 40% bump every job change perpetually through their entire career, someone who starts at $100K would only have to change jobs seven times to reach >$1M. No way on earth that is happening for the vast, vast, vast majority of tech workers who job hop.
Of course, the idea is you reach that upper limit sooner, and making so much more earlier in your career - when properly invested - compounds upon itself dramatically and had enormous implications for one's own financial safety and lifestyle.
And also, thanks for your reply there, nice to hear from you again!
The short answer is that this is how it is in a growth industry with high talent demand. If you were, say, a grocery bagger, you wouldn’t see that kind of salary jump. The moment coding is no longer an in demand talent, this won’t happen anymore. Hope you retire before that happens.
Basically, why do I get such big raises when I switch companies, but getting a nontrivial raise when at a company is like pulling teeth?
How come every company I work for is willing to give me a huge raise and reward me for my achievements at other companies, and not do the same for achievements at that company?
The discussion that followed was illustrative. But I just came to accept it as a fact of life. I wish I could find a place to invest myself in long term, but that has yet to be found...