How does one who stays at the same company for a long time keep the TC at par considering that lateral hires are compensated more? Would love to hear from people who are at FAANG or other top paying companies to share their experiences. TC: 120
How many years experience? Faang usually matches comp of long term employees with external hires, more or less.
I did not have any specific numbers in mind while asking the question. Say someone starts as a new grad and is staying for 4+ years. Thats the time you hit the cliff usually.
Wait, for real? I've been here 6 years. Hoping for a match (as close as possible) for some external offers soon.
Talk to your boss and tell them what you want
How easy is this path? How do you give the proof of a higher compensation for the same level?
Depends on where you are relative to the market. Check Glassdoor and see where you land. I know their numbers lag but that was enough for me. I make X. Glassdoor says average is Y. All my performance reviews say I'm way above average, so I think you should pay me at least Z
You always have to leave or at least maintain a credible threat of leaving. If you seem comfy when your compensation lags... What incentive does your employer have to boost compensation? Generosity?
I know one guy he had to quit and reapply to get a market raise. I think this’s ridiculous, companies have to treat current employees the same as new hires.
One way is to get an offer from another company and have your employer match it.
Leave..I had to make multiple threats to leave to get a raise. My TC grew by 60% and I was still underpaid.
There is a target range for each level and job cat. The target gets updated based on what the market rate is. You and any new hire will have to be in the same target range if you are the same level. That said, the range tends to be wide.
Right. My intent was to ask how do you move out of the lower end of the range as an internally promoted employee.
You don’t.
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You don’t. You always have to leave.
I mean say someone is at a FAANG and is quite happy with the team and the work, is a good performer, then there isnt there any way the employer can match his or her compensation?
Internal fb blind is littered with threads of people saying they love their team but can’t get fb to match their external offer. Unless you’re a rare skill set eng ya gotta move every 2-3 years to grow earnings.