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I am a full stack developer java, springboot, microservices, angular, oracle, inhouse cloud.
As a 602 with 12.6 YOE
Got 10 % mid year hike on a fine day unexpectedly which pushed my cctc to 29.2
We have 60k ceo bonus and 18% variable pay I am getting since last 4 years.
After checking lot of posts here it seems I am on low ctc here.
How much should I target next and which companies ?
JPMorgan Chase
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I’ve seen and experienced some good ones. Feel free to message me!
Higher pay increase after 90 days.
Example: pays 50k per year upon hire. after 90-180 days, instead of doing a bismal increase with a promise of a larger raise later and Christmas bonus/pizza party/things employees really don't care about.
If you like the performance from your new employee. Then as the employer, start the perf review with an offer of 60-65k. You would do this because the quality of life overall would change for your employee. Your employee gains loyalty and trust with you. There's always the risk that the employee might not stay 20+ years for whatever reason. I believe you will find more solid, loyal, trustworthy employees going this route.
Where I work there is a profit sharing formula (which I do not know) which results in a percentage of your yearly pay. That percentage is shared every quarter at the agency "state of the union" meeting.
Profit sharing and yearly performance evaluation against the positions KPIs (the bonus is a percentage of their yearly salary based on how many KPIs they exceeded or met).
Gotta tie comp directly to performance. For a CS in an agency, ideal is to give a piece of rev for new biz and bonus on retention or client sat. IMO