Re:Ask HN: What's considered to be a good annual raise?
by cmontgomeryb on Wednesday February 02, 2011 @04:20PM
(#2172192)
I agree with this. I'm still young and relatively inexperienced, but I'm in the process of moving to a new job - taking a 40% raise.
My current employer offered 10% when I said I was leaving, and all they offer annually is the rate of inflation. I don't know how common this is, but speaking to a few people as I was looking for my new job, it isn't at all uncommon unfortunately.
I don't doubt that there are companies that are more keen to reward good employees, but as a general statement I concur with jumping ship every 2-3 years while young. I also believe that this will increase your value in itself (especially while you are young) as it will give you a wider experience, show that you are able to integrate into new environments and 10 years later you won't be stuck in the mould of your first company.
edit: I should add, I'm a Software Engineer in the UK.
Think instead about increasing your value as much as possible while you're at this company. Once you're demonstrably worth a lot more than you're currently making, it's time to move on. The next guy will pay you what you're worth, whereas your current employer will find excuses to keep paying you what they're paying you.
Repeat this every 2-3 years early in your career and before long you'll be where you belong, salary wise. It's a shame that it works this way, because often one of your first companies will be a really nice place to work. If you stay there, though, you'll stay underpaid throughout your career.