[froaway4job]

There isn't a law requiring companies to give COLA raises so most companies won't. The reason they don't need to? You're not accounting for COLA yourself, so why should a company?

Do COLA adjustments in your own job/career. That's why so many people are moving jobs in this market. That's why so many high paying engineers move jobs every couple of years. COLA baby!

I tend to move jobs every 2-3 years and receive a 25-50% raise each time. COLA baby!

[tnel77]

I’ve talked to my non-engineering family about how I switch jobs and they have a hard time understanding since it’s just so different than their experience with the job market. “Don’t you need to stay put so you have more seniority?” The concept of being in-demand and getting 20-50% pay raises every few years is insane to them. Me too, admittedly.

[ryandrake]

Problem is, that works early in your career, but you're not going to see 20-50% pay jumps when you're 45. You will eventually hit a compensation ceiling for your particular role and start seeing 3-5% bumps, then eventually 0.5-1% bumps. In order to get big pay jumps for switching jobs in your late (15+ yrs) career, you are going to need to level jump, too.

[froaway4job]

Agreed. I'm fully aware that the pay jump train ends sometime. I recommend people take advantage of this tactic when they're young.

My own tactic is to move jobs often, but also take on multiple remote roles at the same time.

[tnel77]

I have strategically jumped to gain skills and a higher salary. My current job is, to me, a unicorn and I plan on staying put for a while (even if there wasn’t an equity component). I think I have mostly hit the ceiling for my years of experience and skill set, but I like what I’m doing so I don’t mind.

[froaway4job]

Agreed. I shouldn't have assumed the OP was an engineer. This strategy is definitely software engineering specific for the most part.