5
BugsBuggy
301d

Money or growth?

I'm mid level SE, looking to get promoted to Senior Level in January 2023.
(context: there are 4 levels before Engineering Manager or Software Architect in our company - 1 (or junior), 2 (or mid), 3 (or senior), 4 (or lead)...

But my total pay (way too good for my age at my place, but Software Engineers specially in FAANG and FAANG-like companies are overpaid here compared to the rest of the market.

My company, an Amazon's competitor in local market, earlier used to pay almost same as Amazon (or slightly higher to attract talent).

Recently, due to splurge of remote jobs, the MNCs started opening more offices (likes of Apple, Google, Amazon, Microsoft, Goldman, Morgan etc) hence the salaries increased even more.

Amazon for example, recently gave 33% increment on base pay recently.

Taking their base salary equal to my total pay (including stocks, bonus).

Should I switch for money or stay for growth?

Comments
  • 5
    I asked this question once and the advice I was given was: Imagine yourself in 15 years: do you want to be doing literally anything else?

    If Yes - choose money
    If No - choose growth

    Turns out you can use variations of this exercise for any other issue
  • 1
    Money is important. But if you can afford it, select by soft metrics like workplace toxicity, corporate bullshittyness, work/life balance, product ethics...
  • 1
    Growth is hard to measure. As it is hard to measure, it's easy to spin and as such, take money. Far better success and progress indicator.

    At least in the majority of cases. Don't rely on having found the exception.
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