This week we're doing reviews and looking at raises at my company. 100 employees. National company in fin-tech sector. Company is cashflow positive. I'm 6 years experience as software engineer with $110k + $12k bonus + 2k stock options. I know that I'm a high performer. (If you want me to say how I know, I'll go through the list.) I was planning on asking for 5% raise. Too aggressive, not enough. Thoughts?
Where do you live? This is extremely low for Bay Area
South East US
That's balling money in the Southeast
Definitely not enough. $110 is 🥜 If I were you I would search for a different company. You can jump to $150k easy elsewhere. 5% is barely more than inflation.
Unless you arent in a city maybe 100 to 200%?
5%? I’d interview around to get an idea of your local market.
Try for 15%
I have friends getting offers as product management at 150k TC in Charlotte with 4 YOE
I'd interview to see what the market offers you. Then see if your company will match offers.
To close the loop on this, my TC is now $125k base, no bonus, but same stock options. Basically, all my income is guaranteed now. I had asked for $130k and was told flat out not going to happen at my current level. That I'd need to get a promotion in order to make more, and that based on my current performance, that would be possible inside the next 2 quarter. I took it. But I'm probably going to start looking in 6 months if I don't get that promotion because it's a tech lead position.
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5% is peanut. Ask for 50% and they will counter for 25%.