5 ms·
> I was able to average 18% raises for over a decade by switching jobs nearly every year. Hmm. For those curious, assuming I still understand how to do basic m
by vonseel 8y ago
> I was able to average 18% raises for over a decade by switching jobs nearly every year.
Hmm. For those curious, assuming I still understand how to do basic math like this and a few relatively low starting salaries for year one:
40k*(1.18^10) = 209k
60k*(1.18^10) = 314k
80k*(1.18^10) = 418k
Are you one of these software engineers I hear about making 400k? I suppose I would find 150k-200k as more believable since your bio states you are a "remote software engineer". Or maybe you over-estimated the annual raises?
- nfriedly 8y agoI'm also a remote software engineer, and my guess is that you're starting too high. My first job (on-site in Ohio) paid something like $7.50/hr (so ~$15k annually), and I'm now at $165k base 14 years later. That puts me in the same ballpark of 18% annually.
- byoung2 8y agoI started at $30k in 2004 and by 2017 I made $200k. It is about 18% on average. The biggest jumps in a single year was 2009 going from $55k to $80k in a 3 month period, 2011 going from $80k to $110k, and 2013 going from $117k to $140k by using a counteroffer.
- salaryFoo 8y agoAs another data-point: My day-rates as a long-term contractor which have some decent year-on-year increases from switching clients 2012 £200 (first time programming for money) 2013 £300 (new client) 2014 £425 (new client) 2015 - took a year off - 2016 £500 (new client) 2017 £650 (same client) 2018 £800 (new client)
- bkcreate 8y agoThe math is correct but this doesn't factor in inflation, so you probably need to change the original salaries down to whatever $40k in todays money was worth in 2009. That leads to 34k*(1.18)^10 = 178k, which seems much more reasonable
- tmaly 8y agoMy friend asked the guy that made that 400k post on twitter. Apparently that is total compensation for people at Uber and Lyft.