Compensation

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DoctorPhysics
Posts: 40
Joined: Sun Jun 07, 2015 12:50 pm

Compensation

Post by DoctorPhysics » Wed Jul 11, 2018 2:07 am

How do you folks find out if you are bring compensated competively and fairly?

Websites? H1B info?

I am in the Bay Area, and I have a sneaking suspicion I may be undervalued. Home price increases have outstripped income increases. Run the numbers and it’s a choice between funding 401k, home, kids, education etc

AlohaJoe
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Joined: Mon Nov 26, 2007 2:00 pm
Location: Saigon, Vietnam

Re: Compensation

Post by AlohaJoe » Wed Jul 11, 2018 3:02 am

Apply to other jobs. If they make you an offer, that's what you're worth.

MrJones
Posts: 203
Joined: Sat Mar 18, 2017 2:23 am

Re: Compensation

Post by MrJones » Wed Jul 11, 2018 5:03 am

viewtopic.php?f=2&t=235646&p=3686407

H1B database doesn't include equity, and is hence not greatly useful in the Bay area.

Kow
Posts: 23
Joined: Fri May 27, 2016 5:04 pm

Re: Compensation

Post by Kow » Wed Jul 11, 2018 5:15 am

You can look at glassdoor.com or a similar website to get an idea, especially if your job is a more standard job. You generally won't see raises in line with cost of living increases, that's not how it works. Generally adjustments will happen as the cost of the labor market is changing, not living. Is a nuanced difference but A difference.

Finding another job is always a great way. Asking for a raise with a good argument for why is also a good way to see how you are valued.

Boglegrappler
Posts: 1066
Joined: Wed Aug 01, 2012 9:24 am

Re: Compensation

Post by Boglegrappler » Wed Jul 11, 2018 5:45 am

Years ago I knew a guy who worked for the federal government and was a GS-9. He was surrounded by people who told each other that they could earn more in the private sector, but for some reason they never left. He put forth an active effort to transfer his skills elsewhere, and said that everyone he spoke to was interested until he told them what he earned. At that point they told him that they didn't pay that much.

It was a long time ago, and things may have changed.

The best way to know if there are places that would hire you for more pay is to have a reliable data point (or two) from someone you trust who has made such a transition. It has to be an "apples to apples" comparison where your backgrounds and experience look the same too.

Good luck.

soccerrules
Posts: 803
Joined: Mon Nov 14, 2016 4:01 pm

Re: Compensation

Post by soccerrules » Wed Jul 11, 2018 8:08 am

If it were me-- I would call 3-4 companies that have job postings that seem to match your current experience and workload. I would imagine after a 20-30 minute phone call (or less) with the recruiter you could inquire about the pay range.

You could simply say -- I am in the market for a career move and before I waste your time or mine can you provide a general pay range/benefits package for the position?

You could go through the interview process and potentially get more precise information and perhaps negotiate a higher offer etc-- but that really takes more time.
Don't let your outflow exceed your income or your upkeep will be your downfall.

TheOscarGuy
Posts: 508
Joined: Sat Oct 06, 2012 1:10 pm
Location: MA

Re: Compensation

Post by TheOscarGuy » Wed Jul 11, 2018 8:38 am

DoctorPhysics wrote:
Wed Jul 11, 2018 2:07 am
How do you folks find out if you are bring compensated competively and fairly?

Websites? H1B info?

I am in the Bay Area, and I have a sneaking suspicion I may be undervalued. Home price increases have outstripped income increases. Run the numbers and it’s a choice between funding 401k, home, kids, education etc
Try paysa, and as others have indicated glassdoor.

runner3081
Posts: 1581
Joined: Mon Aug 22, 2016 3:22 pm

Re: Compensation

Post by runner3081 » Wed Jul 11, 2018 8:39 am

The reality is that if you have been with your employer for quite some time, there is a chance you are not fairly compensated and could be worth more on the open market.

The biggest jump in salaries typically come from changing companies, though not always true.

mountain-lion
Posts: 52
Joined: Tue Jan 30, 2018 1:24 pm

Re: Compensation

Post by mountain-lion » Wed Jul 11, 2018 11:41 am

runner3081 wrote:
Wed Jul 11, 2018 8:39 am
The reality is that if you have been with your employer for quite some time, there is a chance you are not fairly compensated and could be worth more on the open market.

The biggest jump in salaries typically come from changing companies, though not always true.
Agreed. In the technology industry we call this a "diagonal promotion". Getting promoted within a company is often hard, but getting an offer at the company next door can be pretty easy.

The only way to know your market value is to test the market. This is why I interview at different companies every few years, regardless of how happy I am where I am--which is usually pretty happy. There just isn't any other way to know.

long_term_investor
Posts: 8
Joined: Mon Nov 13, 2017 5:25 pm

Re: Compensation

Post by long_term_investor » Wed Jul 11, 2018 5:24 pm

If you are in Tech, you can try https://www.teamblind.com/articles/Compensation . Also https://www.levels.fyi/ to compare the titles across companies.

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Pajamas
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Joined: Sun Jun 03, 2012 6:32 pm

Re: Compensation

Post by Pajamas » Wed Jul 11, 2018 6:02 pm

You could also talk to a third-party recruiter who specializes in your field in your geographical area or whatever geographical area you're interested in.

Just FYI I haven't noticed that housing prices have a direct affect on compensation rates. It's usually more of a total cost of living issue and simple cost of living increases don't usually keep up with reality. It might be necessary to change jobs to be fairly paid. I have bumped into the "Sorry we can't offer you more because we have employees who have been here twenty years who don't make that much" and of course the answer is to pay THEM more, too.

limeyx
Posts: 240
Joined: Wed Sep 07, 2016 5:34 pm

Re: Compensation

Post by limeyx » Thu Jul 12, 2018 12:10 am

DoctorPhysics wrote:
Wed Jul 11, 2018 2:07 am
How do you folks find out if you are bring compensated competively and fairly?

Websites? H1B info?

I am in the Bay Area, and I have a sneaking suspicion I may be undervalued. Home price increases have outstripped income increases. Run the numbers and it’s a choice between funding 401k, home, kids, education etc
Public (US) companies have to report median salary now. Definitely not perfect but one more data point

TravelGeek
Posts: 2213
Joined: Sat Oct 25, 2014 3:23 pm

Re: Compensation

Post by TravelGeek » Thu Jul 12, 2018 12:19 am

limeyx wrote:
Thu Jul 12, 2018 12:10 am
Public (US) companies have to report median salary now. Definitely not perfect but one more data point
Yes, I just came across this story earlier today:

https://www.bizjournals.com/memphis/new ... ebook.html

Dottie57
Posts: 4277
Joined: Thu May 19, 2016 5:43 pm

Re: Compensation

Post by Dottie57 » Thu Jul 12, 2018 12:35 am

TravelGeek wrote:
Thu Jul 12, 2018 12:19 am
limeyx wrote:
Thu Jul 12, 2018 12:10 am
Public (US) companies have to report median salary now. Definitely not perfect but one more data point
Yes, I just came across this story earlier today:

https://www.bizjournals.com/memphis/new ... ebook.html
Median salary doesn’t tell you much. Includes Senior VP and mail room clerk.

limeyx
Posts: 240
Joined: Wed Sep 07, 2016 5:34 pm

Re: Compensation

Post by limeyx » Thu Jul 12, 2018 1:20 am

Dottie57 wrote:
Thu Jul 12, 2018 12:35 am
TravelGeek wrote:
Thu Jul 12, 2018 12:19 am
limeyx wrote:
Thu Jul 12, 2018 12:10 am
Public (US) companies have to report median salary now. Definitely not perfect but one more data point
Yes, I just came across this story earlier today:

https://www.bizjournals.com/memphis/new ... ebook.html
Median salary doesn’t tell you much. Includes Senior VP and mail room clerk.
Indeed but its as I said, one data point and its (in theory) accurate unlike data on glassdoor and other self-reported sites

As others have said, the best way is to go get a job somewhere else and see what they will pay

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jharkin
Posts: 1775
Joined: Mon Mar 28, 2016 7:14 am
Location: Boston suburbs

Re: Compensation

Post by jharkin » Thu Jul 12, 2018 7:47 am

Dottie57 wrote:
Thu Jul 12, 2018 12:35 am
TravelGeek wrote:
Thu Jul 12, 2018 12:19 am
limeyx wrote:
Thu Jul 12, 2018 12:10 am
Public (US) companies have to report median salary now. Definitely not perfect but one more data point
Yes, I just came across this story earlier today:

https://www.bizjournals.com/memphis/new ... ebook.html
Median salary doesn’t tell you much. Includes Senior VP and mail room clerk.
Yep, and that article - like so many these days - focuses ONLY on tech companies. That slideshow tells you nothing if you work in medicine, education, finance, automotive, aerospace, defense, construction, law, government, etc, etc, etc,

I am in tech and even I notice that clickbait business reporting goes way overboard focusing on tech to the exclusion of ever other sector....

fishmonger
Posts: 592
Joined: Fri Jan 31, 2014 2:20 pm

Re: Compensation

Post by fishmonger » Thu Jul 12, 2018 7:52 am

AlohaJoe wrote:
Wed Jul 11, 2018 3:02 am
Apply to other jobs. If they make you an offer, that's what you're worth.
+1. The market will be your best data point. Looking at salary reports, websites, etc. will not tell the whole story, particularly in regard to benefits

PVW
Posts: 446
Joined: Mon Dec 29, 2014 11:01 am

Re: Compensation

Post by PVW » Thu Jul 12, 2018 7:55 am

DoctorPhysics wrote:
Wed Jul 11, 2018 2:07 am
How do you folks find out if you are bring compensated competively and fairly?

Websites? H1B info?
Some bogleheads might have an opinion on whether you are fairly compensated. If you're comfortable, post your details and you might get some feedback.

DoctorPhysics
Posts: 40
Joined: Sun Jun 07, 2015 12:50 pm

Re: Compensation

Post by DoctorPhysics » Thu Jul 12, 2018 8:34 pm

Thanks for the info and website links. I work on the hardware side in semiconductor industry.

My total comp is about 200-210k. About 25k is bonus, 15k is cash incentives that vest yearly, and some 401k matching.
About 6 years experience with PhD, Applied Physics from top school.

Interesting enough, one of those links did not have good things to say about semiconductor industry.

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market timer
Posts: 5937
Joined: Tue Aug 21, 2007 1:42 am

Re: Compensation

Post by market timer » Thu Jul 12, 2018 8:52 pm

DoctorPhysics wrote:
Thu Jul 12, 2018 8:34 pm
Thanks for the info and website links. I work on the hardware side in semiconductor industry.

My total comp is about 200-210k. About 25k is bonus, 15k is cash incentives that vest yearly, and some 401k matching.
About 6 years experience with PhD, Applied Physics from top school.

Interesting enough, one of those links did not have good things to say about semiconductor industry.
I have no idea about hardware, but your comp does seem on the low side for the Bay Area. Agree with those who suggest applying to other firms. Also, try other industries and locations. If you could earn >$200K in a place like Texas, it would be much easier to raise a family.

DoctorPhysics
Posts: 40
Joined: Sun Jun 07, 2015 12:50 pm

Re: Compensation

Post by DoctorPhysics » Fri Jul 13, 2018 1:50 am

Yeah, the base seems in line with my research. It’s the stock portion that is quite light compared to the rest of Silicon Valley.

williamofoccam
Posts: 1
Joined: Tue Jun 12, 2012 7:18 am

Re: Compensation

Post by williamofoccam » Fri Jul 13, 2018 2:29 am

Since you are not a software engineer, I think your compensation is not all that low even by Bay area standards. BTW, engineering professors in UCs (their salary information is publicly available) make much less that 210K even at the associate prof. level. Of course they don't live in South Bay but even with $30K boost, they would not be too far from your comp.

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