2 ms·
> I am not sure how you can stay at a company for more than 24 months (maybe 48 for FAANGMULA) without there becoming an enormous gap between your compensation
by PragmaticPulp 5y ago
> I am not sure how you can stay at a company for more than 24 months (maybe 48 for FAANGMULA) without there becoming an enormous gap between your compensation and market compensation
There are 2 types of companies:
One type will frequently re-evaluate compensation and prioritize employee retention. Compensation follows or exceeds market rate.
The other type will lock in compensation at hire time and try to skate by on 3% raises, or moderate raises at periodic promotions. Employee churn is high.
The latter type of company tends to be smaller shops run by older generations of managers who grew up in different times. They also tend to be unpleasant places to work for numerous reasons. But it's not really the norm in any modern tech company that knows what they're doing.
- taway647393 5y agoI'm a week from signing another offer and leaving Microsoft for that reason. It might be surprising, but it is like the "smaller shops" you described here. The annual increase is only 2-4%, and promotion increase, from any level until a few levels above senior, is only 5% on average. You usually don't get both on the higher side if you get promoted. So if you get promoted from mid to senior (an excellent employee), you expect to get a 7-8% increase at that year. It actually made me very depressed to stay here because of that. The attrition is high (relative to other FAANGMULA) but surprisingly not as high as you would expect. Many stay because they are too lazy to interview, and most of them start to become lazy workers.
- ZephyrBlu 5y ago> But it's not really the norm in any modern tech company that knows what they're doing How many modern tech companies "know what they're doing" when it comes to retention though?
- Apocryphon 5y agoNot even FAANG, it would seem.