As a software engineer, I always want to be attuned to what other companies would pay me for when year-end compensation reviews roll around. But I’m also really content with where I’m at and I’m not necessarily looking to move. I just want to assure that my salary is keeping pace with the market rate. Should you regularly engage in interviews with other companies (and perhaps even get offers) even if you don’t have much of an intention to move? It feels kind of like a slap in the face to both parties: your current employer because why would you consider securing other offers if you were content, and the potential employers who are hoping to offer a job to someone who might seriously consider. Is there any better way to know what your worth? Or am I feeling too personal about something that’s ultimately impersonal to others? #techcareer #compensation #interviews #softwareadvice
TC or GTFO
I was “content” with a previous employer for years. When they started cutting benefits and perks and I went interviewing, I discovered that I had been severely underpaid for about 6 years. I was no longer content. Interviewing is a 2 way street. If the company doesn’t give you an offer that is strong enough to entice you to leave, or the work isn’t interesting enough or the team isn’t a good fit, any any other possible reason, then you pass. It’s part of doing business.
Sounds like you became discontent when they slashed benefits, not when you discovered you were underpaid. Like I said, I really like my employer and have no reason to be discontent. It’s more the fact that worker salaries have moved crazy quick even in the last year alone. What I ultimately want to know is if my annual raises keep up with market, which is a different question than whether I’m underpaid.
I didn’t discover I was underpaid until I started interviewing elsewhere. Within the company, I was within their bands. If I had known I was underpaid, I would have definitely been discontent and interviewed earlier. Edit: It’s really hard to answer your question. Look, some companies budget 3% a year for average performer raises and 5% a year for above average performers. Other companies do market adjustments outside of the yearly raises. Lastly, people who switch companies often get higher amounts. I got a 26% raise when I switched jobs. Is that the market rate? How does that compare to someone who stays and gets 5%? What’s the market rate? I think it depends on whether you’re looking for local companies or remote, and also whether you’re comparing within your company and outside. Lots of variables, no one answer.