Hello all, had a job salary related question for everyone. I’m a software engineer at a fortune 50 company. I graduated last year and have been here since then for 18 months. I initially started with a decent salary but with the cost of rent and living so high now I feel like my job just isn’t cutting it. I was previously at $84,200 annually and my manager just let me know that my company raised the minimum salary for a software engineer to $85,500 so I’m being bumped up to that. That sound nice at first, but then that means that new hires with no experience out of college are going to get paid the same as me and by 18 months of experience was for nothing. Is this common practice, would you guys say something? Just kind of frustrated because I feel like I should be around $90-95k with this market adjustment
#Job raised minimum salary above mine, now I’m making what new hires do
modest summit
astral orchid
Tell your manager your frustrations
And yes, this is common: companies keep raising offers to close on candidates they've already spent a bunch of time (money) on, but the people already at the company don't get the same treatment because they're already there and it's a different department's job. This is why average tenure in the tech industry has been going down and down, from 3 years a decade ago to 6-12 months now
(I think it's exceedingly dumb for companies to do this, but I only have influence over one at a time)
modest summit
And yes, this is common: companies keep raising offers to close on candidates th...
Is the strategy to only stay at a company for like a year and move on then? I like my company but I feel like I’m worth more than that now
astral orchid
Talk to your manager about it
But also consider that you might have to move
It's worthwhile occasionally doing interviews just to see what's out there. Then you can make the decision: is the extra $x worth it to go to a company where I think there's a y% chance I'll enjoy it less than my current company?
I have gotten a significant raise while staying at a company before, because my manager knew I was underpaid. The hard part of those is that usually a director or so gets a certain amount of money and it has to be split up amongst everyone, so it's zero-sum and the managers have to figure out how to spend it