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First of all, PRACTICE being confident in what you're asking for and why. You deserve it and they can only say no. But also... you gotta be good at your job to justify it.
The money is in moving shops. But so is the experience! I've been in the industry for a decade:
Year 1-2: Entry level + 1 promotion (28% increase)
Years 3-5: Mid (33% increase)
Year 6: Senior ( 33% increase)
Year 7-9: Lateral move (6% increase) + 1x promotion (20% increase)
Year 10: Director (40% increase)
I make 350% more than when I started.
Based on time I should be Director level but I’ve been an IC before it was cool and have never been responsible for managing teams.
So I’m stuck around that Senior/Lateral level.
Luckily avoided the middle management layoffs of 2023-‘25.
I’ll go first. About 2 years in each role for each promotion. 3-5%
Rising Star
Every two years if this year goes as I hope