stay or change jobs?

Quote from nutty professor : I am a software consultant and have a lot of experience under my belt (11+ years). I have been with my current company 5 years, and am debating about staying / leaving. I have always out-performed my peers when it comes to utilization and billing. However, I have only received tiny raises. In fact, my total raise from since I started is probably less than 3% of my initial salary, in 5 years. I have peers at other companies who earn 3-5% annual raises, so I am significantly under-paid compared to peers / market. The reason I have stayed so long is because of work flexibility, continued training, and in general earned respect from my good performance that allows me good freedom. My reputation for good work has spread, and I have other companies chasing me offering better pay for the same type of work. I am debating should I stay, or leave for the higher pay and better financial treatment. Thoughts?

It depends what is most important to you. If you would like the increase in pay, you will need to leave. It sounds like there are pros to your current job, like flexibility and training, that might not be at the next job.

Another important thing - will you be a full time employee at your next job? or another consultant? Would you get better benefits and a retirement package at the next position? Matching 401K? pension plan? These are important to consider as well.

I would crunch the numbers - especially long term - and see what make the best sense to you.

Yup, it's all about give & take. I'm in a job where I'm probably a little bit underpaid, but the flexibility, benefits & work environment make it all worthwhile.

However, you're at a good point in your career to consider a switch. You've been with your company for 5 years, so no risk of being labeled a job hopper. You have good experience, and companies always need software devs.

I'd say that you should start looking around, but be choosy. You're not on a timeline & you don't HAVE to get a new job, so you can be picky about what is being offered. Go on some interviews, see what's out there and ask for more than you think you should get. You might be surprised at what some companies will agree to.

Quote from StarNova : It depends what is most important to you. If you would like the increase in pay, you will need to leave. It sounds like there are pros to your current job, like flexibility and training, that might not be at the next job. Another important thing - will you be a full time employee at your next job? or another consultant? Would you get better benefits and a retirement package at the next position? Matching 401K? pension plan? These are important to consider as well. I would crunch the numbers - especially long term - and see what make the best sense to you.

My current company does not offer great benefits, so a new comany would offer similar benefits or slightly better. I would be full time employee at a new job, in a consultant role like what I am currently doing, so that's also not a change. However, the thought of going independent and being my own LLC or S-corporation and running my own show does cross my mind from time to time as well. Lots of pros and cons though of being your own boss. I agree all these factors are very important, so thanks for highlighting them.

Quote from Jeffbx : Yup, it's all about give & take. I'm in a job where I'm probably a little bit underpaid, but the flexibility, benefits & work environment make it all worthwhile. However, you're at a good point in your career to consider a switch. You've been with your company for 5 years, so no risk of being labeled a job hopper. You have good experience, and companies always need software devs. I'd say that you should start looking around, but be choosy. You're not on a timeline & you don't HAVE to get a new job, so you can be picky about what is being offered. Go on some interviews, see what's out there and ask for more than you think you should get. You might be surprised at what some companies will agree to.

You are right about the 5 years, which is why I am really looking at changing more than ever. The company has had a lot of personnel changes over the 5 years, and valued colleagues that I worked with in the past are no longer here, and some of the new people / management are not as appreciative or know how to treat the employees as well. More food for thought...

Thanks for your advice both. I am actively interviewing and seeing what's out there. There is at least one company that is looking to give an offer right away, a few more that are very interested.

There are pros and cons of any change, so I really appreciate your thoughts on this.

I would look for a software consulting firm that gives you a cut of your billable hours after X number of hours. That way if you are outperforming your peers by that much you will get paid that much more. Theres quite a few that do that you may be required to bill 25 hours a week if you bill 40 hours a week. You would get paid your base pay plus 15 * X. Where X is predetermining by the company probably around 30-40% of what your hourly rate is.

Quote from nutty professor : I am a software consultant and have a lot of experience under my belt (11+ years). I have been with my current company 5 years, and am debating about staying / leaving. I have always out-performed my peers when it comes to utilization and billing. However, I have only received tiny raises. In fact, my total raise from since I started is probably less than 3% of my initial salary, in 5 years. I have peers at other companies who earn 3-5% annual raises, so I am significantly under-paid compared to peers / market. The reason I have stayed so long is because of work flexibility, continued training, and in general earned respect from my good performance that allows me good freedom. My reputation for good work has spread, and I have other companies chasing me offering better pay for the same type of work. I am debating should I stay, or leave for the higher pay and better financial treatment. Thoughts?

Don't get complacent, you need to make a move. On average, most employees in IT will see a 2-3% raise year after year when staying at the same company and should look for a 10% bump up when switching job. A lot of factors will obviously change these numbers such as location (NYC vs Wyoming) and skillset (C# or Java vs Cobol/Mainframe programming). - If you are currently outperforming your peers and get good praise there is no reason you wouldn't receive praise at your new company. Trust me on this... And when the time comes that you get a better offer somewhere else, do not accept your current companies counter-offer. This will likely happen and I can almost guarantee you they will promise you the moon and tell you things like "You can't leave, we were just about to promote you..." - You shouldn't have to resign to get a bump in salary. Too little too late. I hope this helps.

start interviewing and then leverage your way into better pay...

profit...

Quote from moey : I would look for a software consulting firm that gives you a cut of your billable hours after X number of hours. That way if you are outperforming your peers by that much you will get paid that much more. Theres quite a few that do that you may be required to bill 25 hours a week if you bill 40 hours a week. You would get paid your base pay plus 15 * X. Where X is predetermining by the company probably around 30-40% of what your hourly rate is.

Thanks, there was supposed to be such a bonus but the company has been pretty cheap / poor in this regard, and not paying what they were supposed to. I complained a few times and only when I complain do they bother trying to pay something. It's a bit of a sore point.

Quote from cutrate : Don't get complacent, you need to make a move. On average, most employees in IT will see a 2-3% raise year after year when staying at the same company and should look for a 10% bump up when switching job. A lot of factors will obviously change these numbers such as location (NYC vs Wyoming) and skillset (C# or Java vs Cobol/Mainframe programming). - If you are currently outperforming your peers and get good praise there is no reason you wouldn't receive praise at your new company. Trust me on this... And when the time comes that you get a better offer somewhere else, do not accept your current companies counter-offer. This will likely happen and I can almost guarantee you they will promise you the moon and tell you things like "You can't leave, we were just about to promote you..." - You shouldn't have to resign to get a bump in salary. Too little too late. I hope this helps.

Yes, this is exactly how I feel. I hate that I have to jump ships to get the pay raises I deserve. But I supposed that's the way it goes these days...you have to keep looking out for yourself rather than company loyalty.

Quote from kyotuosa : start interviewing and then leverage your way into better pay... profit...

Amen.

Are you daft? 11 years = you just started. More money, more money, more money. You are FAR too young to settle for cush at this time in your career. Leave for the best offer and if something comes along better than that, leave again. It really is a no brainer.

Like everyone said its really how much that flexible time is worth to you.

Go to an interview or two, asked some focused detailed questions and see if you like it. Go back to your boss and see if you can swing a raise, one time bonus or more time off. If he gets pissed and fires you (i've heard that done before) then you got another job already waiting. WIN WIN for the most part.

Ask for a raise in a healthy manner. ie - dont say company a is offering me this, I want this... Instead make your case for a good raise based on performance and value you bring to your current organization.

If then they do not give you what you are seeking then start looking / accepting offers.

Also take into consideration travel to from work, vacation time, work/home life balance etc.

Quote from kyotuosa : start interviewing and then leverage your way into better pay... profit...

If you mean go get offers, then show to your current employer for more money, this is very bad advice and will likely leave you unemployed once they have found your replacement.

Quote from drsketch : If you mean go get offers, then show to your current employer for more money, this is very bad advice and will likely leave you unemployed once they have found your replacement.

This only works IF you are actually ready to accept the offer and are just giving your current employer one last chance to make a better offer.

Quote from drsketch : If you mean go get offers, then show to your current employer for more money, this is very bad advice and will likely leave you unemployed once they have found your replacement.

you don't have to show them anything. You just say there are other offers on the table and say you want to stay in the company considering a reasonable raise.
It's very unlikely a company will fire you due to this, since obviously you want to stay there and they have to pay you severance.