I started my current swe role with a base of 170k, 10% bonus. 50k joining bonus over 2.5 years. After 2.5 years without any promo my TC is 244k. Base is 204k, 10% bonus and some ๐ฅ refreshers. That's a 20% raise in Base+bonus over a period of 2.5 years. Is that typical or was I underpaid and they are trying to get me to the same comp as my peers? Am I still underpaid? YOE: PhD+5 Loc: Bay Area. #eda #siemens #siemenscompensation #cadencedesignsystems #synopsys #tech
Your salary is still on good track. You pursued PhD to follow your passion and you get a chance to work on something at which you are an expert which is hardly replaceable.
A 20% increase over 2.5 years is terrific, way above average. You said you are paid less than peers at other companies. If it makes you that unhappy move, but think twice before throwing away a job you like to chase TC
I actually do not know how I am paid in comparison to my peers. My teammates have YOEs double or more than double compared to mine and most of them hold a PhD. It's just the 20% raise in a period of 2.5 years seemed to be a catch up game the company is playing for me. And it seemed like I was underpaid for the HCOL I am in, given my YOE. I am happy with my work with a great wlb. I can do away with 20 hrs a week but I end up working 40+ because I like the job. I just want to be paid fairly at the market rate. And that's what the post is all about.
I am not sure why the comments and the poll are in disagreement! ๐
What school did you go? Top 10? Top 50? It makes a diff
I don't know how that matters but I went to a top 10 school for my PhD in the US.
If you donโt know how that matters then you deserve the pay you got
Youโre employed. Just sit with that. Many are not and canโt even get initial screen calls as so many are out of work.
@unknown75, I am not saying whether I should be looking for external opportunities or not. I am aware of the market right now and I feel lucky to have a job right now in the season of layoffs. I just wanted an opinion about the 20% increment over 2.5 years. That typically is a sign that they had lowballed me with the offer and I didn't recognize it moving from a MCOL area of the country.
If not comparing with FAANG, I think your compensation is very good in Siemensโ standard.
It is Siemens EDA, where pay is typically higher than other divisions of Siemens.
I know Mentor Graphics is Siemens EDA. I still think your compensation is pretty good in EDA/ Semiconductor industry but not SW industry. Not to mention, itโs very impressive in Siemens EDA because they are not competitive with the industry in terms of compensation.
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Who is your reference point? MAANGA companies or your peers?
My peers. I know that I am not paid as much as maanga companies.
Okay well i wouldnt worry about the pay range too far but the longetivity of your career. Are you happy and feel accomplished in your work? Money will follow if you do or you can chase the money but you might end up exhausting your career with burnouts. In terms of numbers, it is probably not very promising for the bay area but 20% increase seems high with no promotions/progressions. I hoped this helped.