old-timer paid below grads; unable2quit #Davis

My friend Davis revealed to me that many non-VPs earn below the $115k salary offered to a fresh Master’s grad.

  • Davis said employer won’t give you more than 3% annual increment, so quite often it can’t reach $115k.
  • Anthony also said the big hike happens only when you change job [1].
  • Jack Zhang said over 10 years the total increment could add up to below 20k.

Q3: what’s the market rate for your skill as an old timer?
A: probably higher than the grads.

Q3b: so why the old-timers don’t get a better job elsewhere?
A: they don’t feel they can.
A (Davis): these old timers have value-add only because of their localSys knowledge. In a sense, some new-age employers have a prejudice against people of loyalty. They probably associate Loyalty with stagnation and obsoleteness.

Therefore, one-long-job resume can be bad when you change career. I always felt my job-hopper resume is a liability, but some west coast shops don’t care.

I feel these old-timers are afraid of failure [1] at the new job, perhaps after a long, stressful adjustment. I think people do notice that adjustment to a new environment can be very tough and often unsuccessful.

Contractors keep adjusting.. stronger, more adaptable, more confident than those loyal old-timers.

Q6: why is employer willing to pay grads so much more?
A: Employers don’t want to but that’s the market rate set by supply-demand. Ibanks want to bring in fresh talents and must pay the market rate.

[1] A.Gambino discussion .

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