BezniaAtWork t1_iy90y17 wrote on November 29, 2022 at 5:34 PM

Reply to comment by woodstock99forlyfe in "You'll make more money working 3yrs at a company and then jumping to a new company negotiating a higher salary than just staying at 1 company and taking your annual raises each year" by CasualFridays047

26 years old here and got hired at an insurance company for $78k in a mid-level IT role. Been talking a lot with and learning from another guy on my team. He's in his late 40s, been here about 10 years now and is at $66k. I do not have the credentials to back up my way higher pay, but I know he should be making a lot more than that. This entire company is full of people who have been here 10-30 years. I just smile and say how impressive it is that the company is able to retain employees like that but it reminds me of my first job when I was making $13/hr providing help desk support. in 2016. There were guys on my team who had been there 15 years and were making $15/hr thinking they couldn't do better anywhere else.

I've switched jobs twice now. First was from $13/hr to $21/hr. Left that second job after 4 years making $26/hr for my current job at $37.

I am still in a Discord chat with all of my old team members from that first job and there's a good deal of them still there pulling in about $16-17/hr.

woodstock99forlyfe t1_iy94qpu wrote on November 29, 2022 at 5:59 PM

Every single decent raise I've ever gotten was from switching companies.

Even internal promotions were bad. At one bank they would base it as a % of your current pay rather than the payband for your new role so if you started in an entry level position and worked your way up you would be getting absolutely shafted.

I left after they promoted me 3 times and I was making 40% less than new hires. Then 2 years later I went back to the same bank and walked in the door making more than any of the 20 year people in my department. When review time came around they would tell me "you're well positioned compared to your peers" and give me 0 or 1% so I left again. It's not my problem you are underpaying my coworkers.

Then I got another promotion thay should have come with probably a 50% raise to be in the right payband and they gave me attitude when I wasn't happy with 10%. They were like but it's a 10% increase! And I was just like my current salary is irrelevant I want what you would pay someone off the street. They didn't budge so I used the role to beef up my resume and then left. I make more than 2x what they were paying. I would have stayed for less because I liked the job, but they would rather hire and train someone else. Penny wise pound foolish.

I learned this lesson the hard way, loyalty is for people not corporations.

MicroBadger_ t1_iy9c8nh wrote on November 29, 2022 at 6:48 PM

My annual raises have always been in the 2-4% range. My job hops have given me raises of 50%, 46%, and 27%. There is certainly a point of diminishing returns where the money to bullshit ratio won't be worth it but I haven't hit it yet.