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I graduated from college in 2001, and then went to grad school at MIT for a Masters degree, which I completed in 2003. That was a major mistake, since it was basically 2 wasted years. My salary history (keep in mind that I live on Long Island, New York, which has a high cost of living, so these salaries are not as high as they seem):
First job:
2003: Began in July 2003, at $60,000
2004: In January 2004, received a 3% raise to $61,800 (this company offered raises every January)
2005: In January 2005, received a 4% raise to $64,272
2006: In January 2006, received a 4% raise to $66,843
2007: In January 2007, received a 3% raise to $68,848. In April 2007, they decided to change everyone's salary so that it was based on a 7.5 hour work day rather than an 8 hour work day, so my salary dropped to $64,545. In July 2007, I received my PE license (passed the exam in April 2007), so I was given a promotion and a 7% raise to $73,668
Current job:
2008: Began in January 2008, at $75,000. This is more than my salary at my old job even after converting back to 8 hour days, but less than even a 3% raise beyond that. Unfortunately, this company gives raises in June, and I was not elligible for one in June 2008 since I hadn't been there long enough. That was a shame, since that was the last year that anyone got a decent raise.
2009: In June 2009, received a 3.3% raise to $77,475. Everyone in the company received the same 3.3% raise.
2010: In June 2010, received a 2% raise (and was told I was lucky to even have a job!) to $79,025. Everyone in the company received the same 2% raise.
2011: In June 2011, received a 4% raise to $82,185. I do not know if everyone got the same raise; my boss implied (but did not say) that my raise that year was bigger than most other employees.
2012: In June 2012, received a 4% raise to $85,473. This was after a somewhat negative review. I do not know if everyone got that same raise or not.
I don't know what raise I will get in 2013, but my boss already told the entire department not to expect a big raise this year.
Again, I live on Long Island, New York, so these salaries are not as high as they might seem. My 3 big mistakes were:
1. Going to grad school and wasting 2 years. Yes, my initial $60,000 salary in 2003 was higher than typical for my field in 2003, but not so much that it made up for 2 years of lost income and lost experience.
2. Staying at my 2003-2008 job for as long as I did. That company was / is dying, and I got zero useful experience at that firm.
3. When starting my new job in 2008, not negotiating either a higher salary than $75,000 or elligibility for a raise in June 2008. I was expecting a nice raise in June 2009, having gone a year and a half with no raise. But I had no way that the economy would crash shortly after, and we'd all just get a token raise in 2009. Many of my colleagues felt that in 2009, I should have tried to negotiate a higher raise than the standard 3.3%, given that I was the only employee who had gone as long as a year and a half with no raise at all; everyone else was given a nice raise in 2008. But with my boss threatening layoffs, I felt that I was in no position to be negotiating a larger raise, given that I'm sure my boss could have replaced me with someone who was unemployed and willing to work double my hours for half my salary.
1. Going to grad school and wasting 2 years. Yes, my initial $60,000 salary in 2003 was higher than typical for my field in 2003, but not so much that it made up for 2 years of lost income and lost experience.
It seems you need a reality check from your negativity. There's only a $4,272 difference between your first two years of working.
Quote:
Originally Posted by mitsguy2001
Many of my colleagues felt that in 2009, I should have tried to negotiate a higher raise than the standard 3.3%, given that I was the only employee who had gone as long as a year and a half with no raise at all; everyone else was given a nice raise in 2008. But with my boss threatening layoffs, I felt that I was in no position to be negotiating a larger raise, given that I'm sure my boss could have replaced me with someone who was unemployed and willing to work double my hours for half my salary.
Your problem is you're too passive. Bosses don't replace people for merely trying to negotiate raises.
..some of the salary here is so unreal. Make me wonder if I went to the wrong profession or work with the wrong firm...maybe biggest mistake is staying with the 1st company (after school) way too long.
Graduated in 2008 with a bachelors in software engineering.
After a year of paid internships,
2008: 56.5k
2009: 59k (transferred to DC within same company, which is an expensive area)
2010: 60.5k
2011: 68k (promotion)
2012: 70k
Seeing the salary I've quoted below is making me want to yell and scream John McEnroe style. I've been with the same company that entire time so maybe it's time to move. Benefits are really good, co-workers and boss are awesome, and the job itself is fun and challenging but I F#%^ING HATE getting underpaid. 98tjwp98j4fp9834jkom'po34mm,;34mnfwa;lkmn;lkn;3fwa mn3f;mefa;lkm;m;oi
Quote:
Originally Posted by Mharroun
Graduated end of 2007 Comp sci degree
2007:50k
2008:55k
2009:75k
2010:85k
2011:97k
2012:120k
2013:138k (120k + 100$/hr side work at old job)
Follow up questions for you.....when did you change jobs? Also, what metropolitan area are you working these jobs?
Quote:
Originally Posted by xxengineerxx
..some of the salary here is so unreal. Make me wonder if I went to the wrong profession or work with the wrong firm...maybe biggest mistake is staying with the 1st company (after school) way too long.
I'm starting to think that staying with the first company for too long is the problem (at least for me).
From 2008-2010, I made somewhere around 46-48K while working on my M.S.
Resigned from that job in 2010 (and that field, for which the MS was for---also finished the MS) and went back to the field that my B.S. was in and started working for a much lower salary since I wasn't licensed yet---probably 15-18K lower than what I was making.
Got my license (2011) in my field. Bumped my salary to $26/hour, almost back to where I was before I left my previous job but without benefits. Shortly thereafter I was let go. Had to take a job for much less ($20.67/hour + 10% night differential) so that I would be working somewhere with awesome benefits.
Now it's 2013 and I'm about to be let go again. I'm thinking I need to get out of this field if I ever want to get ahead. I have a brain and I'd like to use it.
I just looked at his profile. He's in the NYC area where 138k doesn't go far.
If you see my post above, I obviously make quite a bit less than this guy. In fact, I don't even make 1/3 of what he makes living in the same city. I could make 138K go very far.
Most companies show no loyalty to employees, so you shouldn't display loyalty to them. If an offer comes up that increases your pay or otherwise makes you life better, make the jump and never feel regret about "leaving them in a bad place". When times are tough for them, they won't hesitate to lay you off, so you should never feel guilty when looking out for yourself.
I completely agree with this.
Quote:
Originally Posted by Chicagoist123
Someone once told me that you should stay at a job (that is if its going well and paying decent) for 5 years and move on every other 5 years. That way it doesn't make you look like too muh of a job hopper, you get solid pay increases with each new job, and it keeps your career fresh.
I think I agree. Getting a job every 5 years seems like it wil provide good movement and boost in income without making you look to unloyal.
I think this is a good plan, if you can even make it to 5 years. I haven't been with a company that long since 2007. Every job since had either had layoffs, was temporary or I had to get out before being let go.
I dream of having another 5-year gig. My current contract is up and I am waiting to hear if its renewed and for how long. Been here 9 months. Prior job, 18 months, before that 5 months, then 7 months.
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