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What Factors Should I Look at When Deciding to Switch Companies?

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Anonymous User at Taro Community6 months ago

I have been at my current company for over 3 years, and even though my total comp is 6 figures, I saw on Levels.fyi that entry-level engineers at the same company and in the same city are having a higher comp package than what I currently make. I feel that where I messed up was the negotiation, because I had no idea about RSUs and so I never factored them into my total comp.

With interest rates high and with everything going up, I just feel that it will take a long time for my employer to adjust market rates to help catch up with the cost of living. I know that salaries are based on the cost of labor, but with higher costs, slow promotion cycles and my RSUs about to decline, I feel that it will be best for me to look elsewhere and start studying DSA thoroughly. Here are the factors I'm looking at:

  1. Total comp - currently, for my level (mid-level), I am making below the market.
  2. Very slow processes - I feel that just trying to run the local environment takes about 2 hours to start. It slows down the amount of time I'd have to get things done.
  3. Growth - it's a bit slow. The promotion cycles have also been cut due to the current economic state.

I feel that I made up my mind to switching companies, but I was curious what some of you think and what factors you all look at when it comes to switching. I appreciate any insight/advice.

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Discussion

(2 comments)
  • 1
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    Team Lead (people manager) at Mistplay
    6 months ago

    Great question, such a good question that there is an hour and a half masterclass on this: “How to Choose a Good Company and Team as a Software Engineer”.

    This is one of my favorite masterclasses because it’s really all about you and your priorities and choice. There is no correct and sweet that applies to everyone, but rather they provide a framework for your personal evaluation.

    (Sorry for no link, on iOS I’m having trouble copying that).

  • 1
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    Anonymous User [OP]
    Taro Community
    6 months ago

    Thank you so much Ryan! I will watch that masterclass. That's something I definitely need.