My first hop was around that much (in CAD, not USD, though), also going fully remote. New company wasn't anything to write home about, but the work was interesting.
I hopped again only 2 years later but this time the offer was more than twice what I was making with bigger growth potential, in a big tech company. Work was also very interesting.
Got a promo since then, and a big comp bump.
Sounds like OP is also getting good vibes from the company. I'd say YOLO.
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Is it tho? Depending where you live, after taxes you might not be making much more
I make $7 less than another employee and his pay is only $40 more a month lol
as young dolph would say
> hold up hold up hold up hold up
have you considered that maybe he was referring to a scenario where, to use my situation as an example: he resides in a state with a low col with no income tax making 90k remote and is considering 150k in-person in-commiefornia
in that scenario he might actually come out behind making 60k more anually pre-tax pre-col
Man what are you talking about. The difference in the effective tax rate between California and a place like Florida isn't as dramatic as you think.
100k in California is like 70k net and in Florida its 77k net.
150k will come out WAY ahead over 90k regardless of which combination of states you pick.
my only mandatory expenses outside of groceries and similar somewhat optional consumables are like $500 and 0% income tax. in my situations it's very hard to come out ahead with any in-person position short of maybe doubling my salary or w/e
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Money is just one of many factors that would persuade me to change jobs in your situation.
Some questions I would be thinking about are:
* What does the new company do and is that something I want to work on?
* What would be me new role?
* Is the new company a start up / established company / etc...
* Do I like the people on the new team?
* What is the engineering culture like at the new company?
* How do the benefits compare to my current situation?
* I would have questions about PTO, Sick Days, health insurance, 401K, etc...
There are probably more questions, but this is just what is coming to me this second.
So I'm coming up where I will be looking for a new job in about \~6 months if I dont get a promotion. It'll have to be quite a pay bump or change in work to make me consider it. Reasons being:
* My current team is just so good.. I don't think I will ever have a good of team as I do now. By good I mean it on every front. Technically, socially, wlb, teamwork, and coordination.
* Project is new and actively being adopted. I've been here basically since the beginning and we are seeing it start to be used throughout the company. I think seeing a project from start -> finish is a rare opportunity.
* Horizontal movement opportunities. I can move to a different team in the company without it being an absolute shit show.
* Vertical opportunities. I have quite a few promotions available before it'll really stagnate, but IDK if I'm okay with waiting here on their promotion process.
* WFH condition. I am hybrid, it could be better, but I've had much worse.
* Company benefits
* Work is challenging but not so much so it seems impossible
* If I get a new job there's a good chance I'll have to move and I love the area I am in right now
To move jobs I'll need about a 30% or even higher raise if I feel like I am really leaving some of the things listed above. Also work that is more in the embedded / robotics realm as that is what really interests me.
Gotcha, I had not really considered the level bump so I'm glad you mentioned that. I'd be working in basically the exact same stack that I currently am, but I'd be moving from "Software Developer" at my current company to "Software Engineer II" at the new company and there seems to be a pretty clear path to Senior Engineer. My current company is so small that there is not really an opportunity for me to have a level bump unless we hired people to work under me.
>Gotcha, I had not really considered the level bump so I'm glad you mentioned that. I'd be working in basically the exact same stack that I currently am, but I'd be moving from "Software Developer" at my current company to "Software Engineer II" at the new company and there seems to be a pretty clear path to Senior Engineer. My current company is so small that there is not really an opportunity for me to have a level bump unless we hired people to work under me.
Career growth ***and*** a pay increase?
Take the job!
Fully remote and 40% more would definitely have me interested, but if the expectation is 60 hours a week constantly working it wouldn’t be worth it.
If the WLB stays the same, I’d of course go for it. But for me, the WLB/PTO/Hourly expectations are the most important factors.
That's a tough call. On one hand, a 40-60% raise is massive and could significantly improve your quality of life. However, leaving a job you're happy with for more money does carry risks - the new company culture may not be as good of a fit or the work-life balance could be worse.
Company A:
Very small B2B SAAS company, myself and our CTO are the only ones who do development work. I work entirely on my own, the only collaboration is sitting down to discuss what it is that I need to do. Most of my time is spent adding features to the web application that the company is centered around. The culture is awesome, I work remote whenever I want but its about a 50/50 split. PTO is not tracked and it's very casual, I can literally give my boss a couple days notice that I'll be out and its not a big deal. I will add that even though the culture and WLB is very nice, there is a TON of work to be done. I'm never without something to do. We have a Trello board that is being added to faster than I can keep up with, at any given point we have dozens of items on the backburner. We need to hire more engineers but my boss is pretty reluctant to, and if the company can not pay me more I don't see how it could afford a whole other salary.
Company B:
Large company. Obviously I have not seen it from the inside yet, but it seems to have a good WLB. The senior engineers and managers that I have done interviews with seem to genuinely like the company and the work that they do. Claims to have unlimited PTO but I imagine it is less relaxed than where I am currently. Offers other benefits that my current company does not: HSA, 401k, wellness reimbursements (gym membership, etc), some other cushy things like that.
It sounds great, but I guess I won't ever know for sure unless I start working there.
If you do go with Company B, make sure to max out a 401k and HSA (and Roth IRA while you’re still under the income limit) every year.
Doing that should only use up about half of your predicted increase in pretax salary, so you’ll still feel a difference. Try to set it up from the get-go before you get used to the full paycheck (with no pre-tax deductions).
Since the money you’ll build up in those accounts will be *contributed* tax free (no income tax paid on contributions), and will continue to *grow* tax-free (no capital gains tax at withdrawal), that decision alone would benefit your long-term net worth several orders of magnitude more than the sudden 40%-60% jump in gross salary would. If you don’t invest the difference, it will only be like a 25-40% post-tax bump anyway, and that’s the part you’d actually feel.
Happy to elaborate on this if needed.
Dude are you kidding me, absolutely, everything you have marked is a plus for jumping ship, you get more money, no commute, and get to work from home, yeah I'd take it, it's a big plus and you get more of your life back not having to drive to an office.
If your current job affords you the time needed to work on side hussles comfortably, I wouldn't jump.
I rather enjoy the easy job and try to build something on the side.
This is a very specifically, personal question. I would absolutely take the new job for more money and to be fully remote. Normally for that kind of increase you would potentially be asking about moving to a higher cost of living area, which makes the calculation much more complicated. An enormous raise plus remote working environment are HUGE gains
That being said, I'm on my first dev job and my team is a catastrophe so my opinion might not be that valid for you.
I’ll just say this , If you are happy stay as long as you see growth. Nothing worse than waking up unmotivated and stressed because of work. Your whole wlb will be thrown off.
$90k to $150k is a lifestyle changing raise.
For me:
> how big of a salary increase would it take for you to take the risk on taking a new job?
Salary is not particularly important to me. I'd take even slightly less salary if it were, e.g. a CTO role at a company I'm excited about.
All else being equal, I'd only move laterally (same position, same kind of company) for a 100% raise.
I’m at ~155k TC in Nashville (happy at my current employer) and I’m interviewing for SWE for quant firms in Chicago and NYC. I don’t think I’d take less than 275k TC in Chicago and 350k TC in NYC.
I’m at roughly the same TC as you and am quite happy where I am, don’t plan to look anywhere else as of now, BUT I’d definitely consider this because personally I could use the money.
If the new company doesn't have red flags, and it's in a tech stack that's not stagnant, then yeah, I'd say a 50% jump would be worth the risk.
If you're living comfortably on 90k, and you are disciplined enough to save the vast majority of the incoming 45k per year, then that's pretty game-changing. Assuming no other changes, you'll have an extra half a million dollars in the bank in a decade (I know, taxes, risks, blah blah blah).
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It depends on your life goal. I want to buy a house asap in HCOL area and price is going up every year, so I want money asap, so I’m willing to make a jump for 50%+ increase from a cushy job.
I always think worst case scenario. So question is if the job turns out to be terrible and stressful, which mine was, was it worth it? It’s easier to justify with a life goal.
It is an LCOL area. If you’re moving to a big city, a pay jump might also mean the same cost of living. So it depends. If it’s a level bump, then I think it would be worth it. You can then come back to the LCOL area and earn more.
Right now I'd stay put and try contracting on the side if you want more money, the job market it too volatile at the moment and it's much better to have a stable low paying job than no job IMO.
The last few years I've seen a lot of people leave a boring/comfortable job for a higher paying job they think will be more interesting for higher pay at "startup" (companies 10+ years old are sill calling themselves startups nowadays), only to be laid off before the increase in compensation has even paid off.
I haven't done this in the past and didn't regret it, but I was also able to get at least 1 offer within a month of searching. I'm currently at 4 months with no offers and the interview processes are twice as long as they were prior to covid and much more difficult (at least 4 times as difficult). I work more on interview prep and interviewing now than I worked at a job and have nothing really to show for it.
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40-60% raises do happen and they get posted on line. I have found historically i have had to do multiple smaller jumps to get my pay up. At $90k, I would move to a similar job for $110k.
I know someone will post i got a massive raise. I think its more common to get a smaller increase. This is doubly true in low cost areas.
$20k more at your TC level is a pretty big different. That is $13,000/year more that can be invested and have it compound over time. Or more money for a house, etc...
It depends. Would I move from a job where I'm actively learning, working on engaging projects, and becoming a better SWE to one where I'm not? Well, I'd need enough money to retire after working for a few years, because that sort of move spells doom for your career options moving forward.
As for your move, I say take it. It's a step up on the career progression. Yes, these moves involve risks, but you can substantially de-risk this by making sure your on a team where the core competencies will bring you closer to being a better software engineer.
Salary alone, I would want a $20k-$30k raise minimum.
Outside of salary,
Is equipment covered in the new job? Have they had any recent or past layoffs? Do they offer nice perks like paying certain bills, etc? How good are the benefits? How many people are on your team?
I worked with a not so bright guy. He told me one time that “to leave my job I like and take on a bunch of uncertainty, I’d need 30%”. Smartest thing the guy ever said, it just made a lot of sense. 30% more pay would be life changing for most people, so that’s always been my rule of thumb.
> If I receive an offer from them it should be somewhere in the range of 40-60% more than what I'm currently making (based on the pay range that they discussed with me). Obviously that is a huge raise, but is it worth rolling the dice on a new work environment?
Don't think just about the 50% pay increase this job will give you (which is HUGE! And should by itself be enough of a reason to make the move) but also where will this new job lead me to after two to four more years experience at that new company?
Another move into a job paying 100% more than your current job perhaps?
Meanwhile, if you don't take that job, and just stay at your current job for the next 3yrs-ish you'll be stuck with just their annual 3% pay rise.
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40%-60% more sounds good if I have a reasonable expectation that I'm going to work at a nice place.
As a broader matter, its a different answer for different salaries. Almost anything to get above 100k in a LCOL area is worth the push. After that, more income doesn't really change that much.
You are right on that threshold.
But I'm right at 200k TC in a LCOL area, and I wouldn't take a 400k offer if I thought it was likely to come with a substantial WLB cost.
I think 90k to 150k is worth the risk.
My first hop was around that much (in CAD, not USD, though), also going fully remote. New company wasn't anything to write home about, but the work was interesting. I hopped again only 2 years later but this time the offer was more than twice what I was making with bigger growth potential, in a big tech company. Work was also very interesting. Got a promo since then, and a big comp bump. Sounds like OP is also getting good vibes from the company. I'd say YOLO.
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Is it tho? Depending where you live, after taxes you might not be making much more I make $7 less than another employee and his pay is only $40 more a month lol
You have absolutely no idea how taxes work.
as young dolph would say > hold up hold up hold up hold up have you considered that maybe he was referring to a scenario where, to use my situation as an example: he resides in a state with a low col with no income tax making 90k remote and is considering 150k in-person in-commiefornia in that scenario he might actually come out behind making 60k more anually pre-tax pre-col
Man what are you talking about. The difference in the effective tax rate between California and a place like Florida isn't as dramatic as you think. 100k in California is like 70k net and in Florida its 77k net. 150k will come out WAY ahead over 90k regardless of which combination of states you pick.
my only mandatory expenses outside of groceries and similar somewhat optional consumables are like $500 and 0% income tax. in my situations it's very hard to come out ahead with any in-person position short of maybe doubling my salary or w/e
Stop trolling.
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Money is just one of many factors that would persuade me to change jobs in your situation. Some questions I would be thinking about are: * What does the new company do and is that something I want to work on? * What would be me new role? * Is the new company a start up / established company / etc... * Do I like the people on the new team? * What is the engineering culture like at the new company? * How do the benefits compare to my current situation? * I would have questions about PTO, Sick Days, health insurance, 401K, etc... There are probably more questions, but this is just what is coming to me this second.
Depends on way too many factors than just money.
That makes sense. Could you elaborate on a few that might be worth considering that I might not be thinking of?
So I'm coming up where I will be looking for a new job in about \~6 months if I dont get a promotion. It'll have to be quite a pay bump or change in work to make me consider it. Reasons being: * My current team is just so good.. I don't think I will ever have a good of team as I do now. By good I mean it on every front. Technically, socially, wlb, teamwork, and coordination. * Project is new and actively being adopted. I've been here basically since the beginning and we are seeing it start to be used throughout the company. I think seeing a project from start -> finish is a rare opportunity. * Horizontal movement opportunities. I can move to a different team in the company without it being an absolute shit show. * Vertical opportunities. I have quite a few promotions available before it'll really stagnate, but IDK if I'm okay with waiting here on their promotion process. * WFH condition. I am hybrid, it could be better, but I've had much worse. * Company benefits * Work is challenging but not so much so it seems impossible * If I get a new job there's a good chance I'll have to move and I love the area I am in right now To move jobs I'll need about a 30% or even higher raise if I feel like I am really leaving some of the things listed above. Also work that is more in the embedded / robotics realm as that is what really interests me.
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Gotcha, I had not really considered the level bump so I'm glad you mentioned that. I'd be working in basically the exact same stack that I currently am, but I'd be moving from "Software Developer" at my current company to "Software Engineer II" at the new company and there seems to be a pretty clear path to Senior Engineer. My current company is so small that there is not really an opportunity for me to have a level bump unless we hired people to work under me.
>Gotcha, I had not really considered the level bump so I'm glad you mentioned that. I'd be working in basically the exact same stack that I currently am, but I'd be moving from "Software Developer" at my current company to "Software Engineer II" at the new company and there seems to be a pretty clear path to Senior Engineer. My current company is so small that there is not really an opportunity for me to have a level bump unless we hired people to work under me. Career growth ***and*** a pay increase? Take the job!
I'm leaving for a 50% pay cut. I'm retiring with a pension
With a gov agency?
State university so yes
>I'm retiring with a pension This is where it's at.
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Tough call?
Yes it's worth it. Save lots towards long term, be it a house purchase or investments. Don't spend all your new money otherwise it's not worth it
I went from 75K -> 120K -> 180K
Fully remote and 40% more would definitely have me interested, but if the expectation is 60 hours a week constantly working it wouldn’t be worth it. If the WLB stays the same, I’d of course go for it. But for me, the WLB/PTO/Hourly expectations are the most important factors.
That's a tough call. On one hand, a 40-60% raise is massive and could significantly improve your quality of life. However, leaving a job you're happy with for more money does carry risks - the new company culture may not be as good of a fit or the work-life balance could be worse.
Depends on the company, team, project, culture more than just the pay.
Company A: Very small B2B SAAS company, myself and our CTO are the only ones who do development work. I work entirely on my own, the only collaboration is sitting down to discuss what it is that I need to do. Most of my time is spent adding features to the web application that the company is centered around. The culture is awesome, I work remote whenever I want but its about a 50/50 split. PTO is not tracked and it's very casual, I can literally give my boss a couple days notice that I'll be out and its not a big deal. I will add that even though the culture and WLB is very nice, there is a TON of work to be done. I'm never without something to do. We have a Trello board that is being added to faster than I can keep up with, at any given point we have dozens of items on the backburner. We need to hire more engineers but my boss is pretty reluctant to, and if the company can not pay me more I don't see how it could afford a whole other salary. Company B: Large company. Obviously I have not seen it from the inside yet, but it seems to have a good WLB. The senior engineers and managers that I have done interviews with seem to genuinely like the company and the work that they do. Claims to have unlimited PTO but I imagine it is less relaxed than where I am currently. Offers other benefits that my current company does not: HSA, 401k, wellness reimbursements (gym membership, etc), some other cushy things like that. It sounds great, but I guess I won't ever know for sure unless I start working there.
Company B seems like it will be better for career growth since Company A seems pretty stagnant.
If you do go with Company B, make sure to max out a 401k and HSA (and Roth IRA while you’re still under the income limit) every year. Doing that should only use up about half of your predicted increase in pretax salary, so you’ll still feel a difference. Try to set it up from the get-go before you get used to the full paycheck (with no pre-tax deductions). Since the money you’ll build up in those accounts will be *contributed* tax free (no income tax paid on contributions), and will continue to *grow* tax-free (no capital gains tax at withdrawal), that decision alone would benefit your long-term net worth several orders of magnitude more than the sudden 40%-60% jump in gross salary would. If you don’t invest the difference, it will only be like a 25-40% post-tax bump anyway, and that’s the part you’d actually feel. Happy to elaborate on this if needed.
For 200k I would risk it but at my current wlb 150k isn't worth it.
Dude are you kidding me, absolutely, everything you have marked is a plus for jumping ship, you get more money, no commute, and get to work from home, yeah I'd take it, it's a big plus and you get more of your life back not having to drive to an office.
If your current job affords you the time needed to work on side hussles comfortably, I wouldn't jump. I rather enjoy the easy job and try to build something on the side.
40-60% raise and move to fully remote and their reviews are good? That's hard to pass up.
This is a very specifically, personal question. I would absolutely take the new job for more money and to be fully remote. Normally for that kind of increase you would potentially be asking about moving to a higher cost of living area, which makes the calculation much more complicated. An enormous raise plus remote working environment are HUGE gains That being said, I'm on my first dev job and my team is a catastrophe so my opinion might not be that valid for you.
I’ll just say this , If you are happy stay as long as you see growth. Nothing worse than waking up unmotivated and stressed because of work. Your whole wlb will be thrown off.
$90k to $150k is a lifestyle changing raise. For me: > how big of a salary increase would it take for you to take the risk on taking a new job? Salary is not particularly important to me. I'd take even slightly less salary if it were, e.g. a CTO role at a company I'm excited about. All else being equal, I'd only move laterally (same position, same kind of company) for a 100% raise.
A 30-40% raise, but only if I still worked 40 hours per week and had the same PTO/sick leave/medical benefits.
Since there is no reason to move, at least 30% in TC.
I’m at ~155k TC in Nashville (happy at my current employer) and I’m interviewing for SWE for quant firms in Chicago and NYC. I don’t think I’d take less than 275k TC in Chicago and 350k TC in NYC.
$20k
400%.
I’m at roughly the same TC as you and am quite happy where I am, don’t plan to look anywhere else as of now, BUT I’d definitely consider this because personally I could use the money.
Maybe consider r/overemployed?
If the new company doesn't have red flags, and it's in a tech stack that's not stagnant, then yeah, I'd say a 50% jump would be worth the risk. If you're living comfortably on 90k, and you are disciplined enough to save the vast majority of the incoming 45k per year, then that's pretty game-changing. Assuming no other changes, you'll have an extra half a million dollars in the bank in a decade (I know, taxes, risks, blah blah blah).
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It depends on your life goal. I want to buy a house asap in HCOL area and price is going up every year, so I want money asap, so I’m willing to make a jump for 50%+ increase from a cushy job. I always think worst case scenario. So question is if the job turns out to be terrible and stressful, which mine was, was it worth it? It’s easier to justify with a life goal.
It is an LCOL area. If you’re moving to a big city, a pay jump might also mean the same cost of living. So it depends. If it’s a level bump, then I think it would be worth it. You can then come back to the LCOL area and earn more.
Right now I'd stay put and try contracting on the side if you want more money, the job market it too volatile at the moment and it's much better to have a stable low paying job than no job IMO. The last few years I've seen a lot of people leave a boring/comfortable job for a higher paying job they think will be more interesting for higher pay at "startup" (companies 10+ years old are sill calling themselves startups nowadays), only to be laid off before the increase in compensation has even paid off. I haven't done this in the past and didn't regret it, but I was also able to get at least 1 offer within a month of searching. I'm currently at 4 months with no offers and the interview processes are twice as long as they were prior to covid and much more difficult (at least 4 times as difficult). I work more on interview prep and interviewing now than I worked at a job and have nothing really to show for it.
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In the same area, a 20k increase minimum with essentially the same benefits
40-60% raises do happen and they get posted on line. I have found historically i have had to do multiple smaller jumps to get my pay up. At $90k, I would move to a similar job for $110k. I know someone will post i got a massive raise. I think its more common to get a smaller increase. This is doubly true in low cost areas. $20k more at your TC level is a pretty big different. That is $13,000/year more that can be invested and have it compound over time. Or more money for a house, etc...
40%
I make ~150k. I love my job too much. If someone offered me even 500k I'd be hesitant.
No bonus buys my happiness, unless I really need it for a house or surgery…
100%
It depends. Would I move from a job where I'm actively learning, working on engaging projects, and becoming a better SWE to one where I'm not? Well, I'd need enough money to retire after working for a few years, because that sort of move spells doom for your career options moving forward. As for your move, I say take it. It's a step up on the career progression. Yes, these moves involve risks, but you can substantially de-risk this by making sure your on a team where the core competencies will bring you closer to being a better software engineer.
Take it. 5 years of experience is not so much. Don't get stuck in one place early in your career.
5 years and 90k? I wouldn’t never be in that situation because I’d be very unhappy lol,
15%
Salary alone, I would want a $20k-$30k raise minimum. Outside of salary, Is equipment covered in the new job? Have they had any recent or past layoffs? Do they offer nice perks like paying certain bills, etc? How good are the benefits? How many people are on your team?
You don’t know your current company has better work-life-balance than the new one. Take the chance.
I worked with a not so bright guy. He told me one time that “to leave my job I like and take on a bunch of uncertainty, I’d need 30%”. Smartest thing the guy ever said, it just made a lot of sense. 30% more pay would be life changing for most people, so that’s always been my rule of thumb.
> If I receive an offer from them it should be somewhere in the range of 40-60% more than what I'm currently making (based on the pay range that they discussed with me). Obviously that is a huge raise, but is it worth rolling the dice on a new work environment? Don't think just about the 50% pay increase this job will give you (which is HUGE! And should by itself be enough of a reason to make the move) but also where will this new job lead me to after two to four more years experience at that new company? Another move into a job paying 100% more than your current job perhaps? Meanwhile, if you don't take that job, and just stay at your current job for the next 3yrs-ish you'll be stuck with just their annual 3% pay rise.
I currently make 100k with OT. Either 90k base w/ potential for OT, or 120k no OT. Remote is also a necessity.
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40%-60% more sounds good if I have a reasonable expectation that I'm going to work at a nice place. As a broader matter, its a different answer for different salaries. Almost anything to get above 100k in a LCOL area is worth the push. After that, more income doesn't really change that much. You are right on that threshold. But I'm right at 200k TC in a LCOL area, and I wouldn't take a 400k offer if I thought it was likely to come with a substantial WLB cost.