Tech IndustryApr 10, 2019
Goldman SachsMr Satoshi

Working long time at one place vs switching every few years

So I've been with Goldman almost 4 years (joined straight out of college) and I see many people jump around every 2-3 years. Many of my friends have switched companies at least once in this period. I'm kinda starting to feel the FOMO to change companies even though my current situation is pretty good - high potential, great visibility, learning a lot, decent income (2019 TC: 140k). Just want to mention that I've been switching teams internally during this time so I've been exposed to different parts of the company. How do I deal with this FOMO? I've tried getting offers a couple months back but got rejected after a few on-sites (Google, Flatiron Health, Compass to name a few). If I switch I'd go for higher comp and more prestige companies with good tech. So I guess I'm not good enough for higher bar companies, the market is competitive or it's a combination of both. What would you do in my situation, stay for another year and learn as much as possible and then reevaluate or try finding something again this year? 2019 TC: 140k YOE: 3.5

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Amazon y2dry3 Apr 10, 2019

Always keep trying and learn / practice more. Of course it could be IQ related as well, you have to honestly self assess yourself and honestly conclude if you're a premier league player in tech or not. Some less talented people made fortunes with singing or acting or simply selling. There are limits and not everyone is physically and mentally able to achieve highest league. But it's never wrong to keep trying. You can only learn from failure and by challenging others that are way ahead of you.

Two Sigma iufA74 Apr 10, 2019

Are you doing software at Goldman? If so you’re severely underpaid. Their new grads got 200k this year

Goldman Sachs Mr Satoshi OP Apr 10, 2019

Yes, I am a developer. From what I know it was 110k base + 30k bonus for new grads at GS.

Amazon neighbormo Apr 10, 2019

$200k seems way too high for a company with pretty lax intern standards

Google SergeyBlin Apr 10, 2019

It pays to change jobs when the market is strong. Once the recession hits, it is LIFO.

Goldman Sachs Mr Satoshi OP Apr 10, 2019

So your suggestion is..?

Google SergeyBlin Apr 10, 2019

Now is probably a good time. You are early in your career so you can level up and get the TC bump. If you decide to stay, you may get stuck with low TC for a while.

Amazon neighbormo Apr 10, 2019

Wtf your 2019 TC is only $140k?!?!

Amazon y2dry3 Apr 10, 2019

He's likely not Bay area based.

Goldman Sachs Mr Satoshi OP Apr 10, 2019

NYC

Cisco 0xdeadbad Apr 10, 2019

The old proverb “A rolling stone gathers no moss” is applicable to your situation. I would suggest not to jump often and never in the middle of project. A generally accepted practice of switching every three to four years will help advance your career in terms of getting more exposure to diverse work cultures, technologies, people and last but not least, helps improve your salary growth. It also keeps you on your toes and forces you to update your technical and interviewing skills. That said, I’ve not followed my own advice and this old stone is full of moss😀

Goldman Sachs Mr Satoshi OP Apr 10, 2019

I stayed at my previous team for far too long and got super rusty. Recently made a switch and learning so much in a very short amount of time. But they don't adjust comp when you move internally so that sucks...

Compass someguy851 Apr 12, 2019

you’re only underpaid if the market determines you’re underpaid also fwiw our interview process is a mess, difficulty can either be G level or a joke depending on the day. definitely reapply in 6 mo, we will pay base = your current TC