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by canterburry
3714 days ago
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From my experience language and years of experience have very little to do with salary IF you stay at the same employer. To get frequent salary and title bumps you HAVE to move employers. It's the single fastest path to more money. Move every 3 years at a minimum and never accept a lateral move or for equal pay with new title. Your future salaries will depend on your previous comp, not by title. Also, independent contracting is often a better option than employment in most parts of the country, but you have to be independent (1099-MISC, never W2). Being a W2 at a consulting company is just as bad as anywhere else. Independent consulting will get you a 2x bump instantly assuming you can find a full time gig but that's usually not that difficult. Furthermore, as a 1099, you'll be able to put away far more in retirement savings. I recommend an LLC with a 401K (not SAP), max out your personal contributions and then kick in another 6% from your 'company'. You'll be socking away ~50K in retirement alone this way while lowering your taxable income. Compare that to your 16K/year max as W2. Another trick: if a company ever offers you a larger than usual bonus for some reason (i.e. retention, goal met etc) leave the next year when it shows up on your W2 and ask the next employer to merely 'match' your current W2 without breaking out base salary and bonus. I've scored 50% pay increases this way. Following the above methods, I was making $180K+ at my 8 year mark and $230K+ at my 12 year mark. Most of this happened in the midwest although I currently live in the bay area. |
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I am really trying to understand how someone is worth $230k+
I am a server-side guy with a CS degree, proficient with C, C++, Java, bash scripting, and some .NET, PHP, Node.js, and I have never gotten close to even $180k in salary, and I have been working for almost 20 years, and I am in the Bay Area.