
Ask HN: Settle for less salary or change to make more in prime years - throwaway007007
Hi,<p>I am in a tricky situation and hoping someone here can provide some guidance. Also figured the answers might help someone who has a similar situation.<p>I am a sr dev with ~8 yrs of experience currently working in one of the top financial tech companies in nyc for ~5 years. I work in a good team and clear a little more than 150K&#x2F;yr, but I recently got to know that my total compensation is quite low (~50K) compared to others in the same grade that doesn’t sit with me well.<p>My responsibilities have been growing, but I feel I don’t see the same growth in the salary. I’ve thought about asking my lead&#x2F;managers about the difference, but I know it would backfire since I know the managers well and they would just say I have to work really hard to close the gap. I also believe that this gap will never close since the review is dependent on previous reviews and impressions. (Long story, my first reviews took a wrong turn due to bad managers and it took me years to get it above the average).<p>My dilemma is should I work hard in the current company trusting them to right the wrongs knowing its unlikely, or should I find a new job and invest the effort there outright. Also, I know the I will get a increase of ~50-75K or higher total comp if I jump ship to a good company (think Big 4) with similar benefits, but I am worried about losing some perks (flexible working hours &amp; ~7hrs&#x2F;day, work from home ~20d&#x2F;yr, hike rate of ~7% etc). Being in my prime years(early 30s now), I feel I should make as much money I can before I become the older person in the group. Lastly, I am on a work visa so thinking about the risk of landing in a bad team&#x2F;company only to change again.<p>Appreciate the opinions.<p>New user here so let me know if I made any mistakes in posting or if I missed anything important.<p>TL&#x2F;DR: Good position at good company with ~30% less pay than others, settle for less money for comfort&#x2F;perks&#x2F;culture or jump ship for maximum value in prime years.
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mailshanx
I think you already know that practically, it is pretty much impossible that
you will close the gap at your current company. The fact that such a large gap
has persisted over multiple years demonstrates that your management doesn't
reward performance in a competent manner.

If you land a position at a Big 4/5, you can expect to make 300k+ (total
comp), and still retain flexible work hours, PTO, etc. Competition for dev
talent is fierce, and with good interview / negotiation skills, it is possible
to make integer multiples of your current comp without sacrificing perks such
as a good team and flexible hours.

Also, read this: [http://haseebq.com/how-not-to-bomb-your-offer-
negotiation/](http://haseebq.com/how-not-to-bomb-your-offer-negotiation/)

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pc86
> _The fact that such a large gap has persisted over multiple years
> demonstrates that your management doesn 't reward performance in a competent
> manner._

The fact that the OP has been paid 25% below his peers for years shows that
his bosses did a good job managing the budget and OP didn't really have a
sense of what he was worth or what comparable positions like his should be
making.

Turning the tables it is entirely possible he can make up most or all of that
gap. Whether he still wants to work there after being paid 25% less than
everyone else is another issue.

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shanwang
I was massively underpaid in one of my past jobs, when I found out I just
asked for a 25% pay rise, I didn't have another offer back then but was
approached by recruiters. Then my boss gave me a 30% pay rise, make me realise
I was even more underpaid than I thought, so after that I ask for pay rise
every year and get it most of the time.

I didn't have the baggage you have, but if you like your job, ask for a pay
rise, if they like you equally, you'll get it, it doesn't always come with a
better annual review. Meanwhile prepare to leave for a better company.

a fintech company in nyc, bloomberg? :)

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throwaway007007
Thanks for the data point. I feel that this is rare, but you make a good
point, worth a try I guess.

~~~
pc86
If you're underpaid by 30% and ask for a 20% raise it's unlikely your boss
will put up a huge fight. They may do less just to see if you accept it, but
it's rare for them to both know you're underpaid _and_ refuse to bridge part
of that gap.

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luckydata
It's completely obvious the situation you are in is not going to improve
significantly according to your description. Rarely established situations
change, and you've been there for 5 years. You have learned what you needed,
move on. The immigrant status is something to be considered, make sure you
make your move with your eyes wide opened. Out of curiosity, why are you still
on a work visa after 5 years? Usually employers... help after all that time.
Does your employer plan to help you get a permanent visa?

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throwaway007007
Thanks ! Thought so, this is a reality check in a way. Regd the visa, yes
companies do sponsor for perm, but it still takes many years to get a
permanent one depending on the country of origin due to the current
immigration system.

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askafriend
Go get the money. Don't feel guilty about it.

~~~
throwaway007007
Sounds good :)

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JSeymourATL
> should I work hard in the current company trusting them to right the
> wrongs...

Senior executives (especially in FinTech) do NOT think in these terms. Their
focus is purely bottom line, what have you done for us today?

> I am on a work visa...

Apply for a permanent status, you will be free to chart your own course. Pay
for your own attorney to navigate the system. Do this TODAY!

> I am worried about losing some perks ...

Easily negotiated into your next compensation package. Simply let a potential
new company know your current perks-- expect they will meet or beat what you
have.

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meric
If you're 80 and tomorrow is your last day, what advice would you give to your
30 year old self? Then I suggest listening to that advice.

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gricardo99
Go get the best offer you can. If you're still conflicted about leaving, and
the offer is substantially better (not sure why you would be), you can use the
offer as leverage to get a raise and improve your position. But only go that
route if you're truly prepared to leave.

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NumberCruncher
If I were you I wold check my motivation before jumping ship. There will
always be people working less and earning more than you. Just think of the
lottery winners. Following this path you may hit the line of 300k/yr but won't
find contentment. Don't get caught by the hedonic treadmill!

[https://en.wikipedia.org/wiki/Hedonic_treadmill](https://en.wikipedia.org/wiki/Hedonic_treadmill)

On the other hand if you just want to earn 300k/yr regardless of the salary of
others than you know what you have to do.

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throwaway007007
True, this is one of my worries, but honestly, I don't feel happy knowing that
I am underpaid than my market value too. Thanks for the input.

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borplk
It's hard to give good advice with this much information it's all up to you in
the end. However I can tell you sticking around and hoping for a company to
"wake up" and so on is a delusion.

I think in general people should appreciate that a lot of jobs are not as
special as you might have come to believe.

So if I were in your shoes I would probably interview and find something I'm
happier with and then jump.

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throwaway007007
Thank you. Reality check, done.

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dahdum
One thing to keep in mind are retirement goals. If you want retire early or do
your own startup someday I'd say go straight for the money. If you're planning
a full career, retirement shouldn't matter too much and work/life balance is
more important.

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recmend
Sometimes it's better to invest in yourself, if your current role is helping
your grow. You want to make sure, you're not only enjoying your current role
but you'll be more marketable as well if you continue.

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chrisbennet
The only time I've ever heard of someone getting a raise to market was when I
left the company and they were the last developer left. As the sales guys say:
"Your W2 is your review"

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throwaway007007
Yeah this is rare I feel. Oh well, worth a try. Those sales guys surely know
better in this case :)

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android521
After tax and living expenses , how much can you save annually?

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throwaway007007
I save some after everthing, but I don't see how this relates to the situation
as I still would be leaving money on the table regardless.

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throwaway_45
If you are over 30 you might be too old to get a job in the valley.

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redpanda_ua
So you're saying experience doesn't matter. We just need people who use
whatever trendy frameworks this month?

Sounds about right. /s

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zerr
Lets put it in another way - when you're over 30 you don't have that much
naivety anymore to waste your life working on somebody others ideas and be
underpaid, and you understand that startup stock options are bullshit.

