this post was submitted on 05 Jun 2024
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Work Reform
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A place to discuss positive changes that can make work more equitable, and to vent about current practices. We are NOT against work; we just want the fruits of our labor to be recognized better.
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- All workers must be paid a living wage for their labor.
- Income inequality is the main cause of lower living standards.
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- Higher wages for underpaid workers.
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That being said, word is that in the tech industry at least, hiring budgets are clearly higher than promotion budgets and that moving every 2 years or so is clearly the best strategy for career advancement.
Just one industry, of course, but the pattern certainly seems to have settled in there, and it may not be a stretch to speculate it will spread to other industries perhaps under the shitty influence of AI.
How does this work out with all in value when it comes to stock options or other vesting based non salary compensation? Aren't you leaving a lot on the table if you switch every 2 years? Does salary alone make up for that?
Don’t know! AFAIK, some stock options do partially vest before two years. But this isn’t just salary, it’s career advancement, which means seniority and arguably experience, all of which tend to stay locked in for the rest of your career and lead to more stock options should you arrive somewhere you’re willing to stay longer at.
Idk about it being locked in. I have seen people with Sr and Lead titles interviewing for a lower position these days. Those things don't always stay with you the rest of your life. But titles are cheap. Salary, bonuses, and stock are money.
For me, I had considered job offers with higher salary. But then when I looked at the salary and reduced PTO I realized my hourly wage didn't change that much. When I factored in the stock package and downgrade in 401k match these 10%+ percent salary increases put me behind near term (near term being about 3 years until the new company started to vest and become regular earnings).