People are leaving this place on daily bases for greener pastures and I can't figure out how they're finding new jobs. I've been looking for nearly a year now and whatever I find is at least 30-40 percent below what I currently make. Are people taking pay cuts just to leave this place or are there jobs I'm missing somehow?
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it 100% depends on what you do now. If your skill set is geared only to semiconductors, your choices are limited. A whole swath of BI people quit and headed northwest to Amazon and they retain the same title on their LinkedIn page.
Though you have been looking for a year, you still have a job so looking for another year should be fine. It is always best to look for a new car while your old car still works, same for jobs, good luck.
Jump, demand 20% increase, ask for Stock GRANTS.....that is the only way to play the monopoly game.
I see this phenomenon mostly among junior engineers. It gets more difficult to change jobs as you go up on the rank. Think about this, an engineer or a senior engineer at GF might be making around $85K/year. The market value for this level is around $100K/year especially in big cities. That is more than 17% bump in salary which seems lucrative. Keep in mind that low level engineers are usually fresh college grads, naive, and don't know how this industry works. They can be manipulated easily and work like slaves if they are on a work visa.
I am an engineer at the SMTS level, hypothetically say I am making $150K/year at GF. The average base salary for this level at other companies is around $160K/year. That is less than 7% base salary increase. Other companies usually offer generous RSU upon accepting an offer, however their vesting schedule stinks. Is it worth taking the risk? There are tons of unknowns when you change jobs, I won't do it for less than 15% salary increase. Even though I am not satisfied with working at GF or my current location/site but things are less stressful than some other places, at least where I am working now and I can maintain an okay work/life balance. There are always pros and cons and not always about money.
there are jobs... i have been called by head hunters in the last 6 wks for offers...
Perhaps your market value is 30-40% below what you currently make. There's value in being in an organization for a long time that doesn't translate to other organizations.