I currently have a TC of 150K working in Portland as a PM with 12 YOE. I'm in the final stages of negotiation for a PM offer with a new company in the bay area with a TC of 210K. However my current manager recently told me that in the next 6 months there is a strong chance for me to get promoted to the next level and also have direct reports. The new company is bringing me in at my current level and are clear that I don't have a chance to get promoted to the next level and have direct reports for another 2 years at least. I'm caught in a dilemma as I feel that getting direct reports will make my profile suitable for future manager positions but at the same time I feel like I have been with my current company for a long time and would benefit from moving to a new environment. I would appreciate if you guys can provide me with some suggestions as to how to evaluate this situation.
Yes. I know I'm underpaid but that is mostly because I joined right out of school on a work visa and in Portland not many companies apart from Intel In the Hardware/Software domain to which I can move and still keep my place in line for GC. Eventual goal is to get in as a PM @FAANG.
Portland COL is significantly cheaper so this isn’t bad
Jump ship and be happy. This 6 mo bullshit is the typical carrot-and-stick politics. I’m amazed you’re even inclined to consider that as something viable with 12YoE.
Truth
Yeah I realize it is carrot-and-stick politics but I actually think there is a good chance in this case as my current manager has recently got some new responsibility and he needs someone to take care of 2 other products which he is responsible for.
Also consider cost of living with moving to Bay Area. Portland is much cheaper. You may not greatly benefit money wise.
I would move. I always take what I have now vs. hoping to get something in the future.
Move for location. Career upward opportunities are more in Bay Area
Stay in Portland, get promotion and then move to bay
I would move
Stay and apply at FAANG until you get it if that’s what you want LT. 210 TC in the bay is not comparable to 150 in Portland. No point for a lateral move.
Is the new company you are joining in the same technology or different technology as yours? In general, Bay Area is a great place to network and reach your eventual goal of PM@FAANG. Also a lot can happen in 6 months that is out of your manager’s control. Reorgs happen all the time.
It is in the same technology as my current job and I need this to ensure that my GC porting happens without any issue, esp considering the current administration.
Being a people manager is overrated.