It happens: your annual review goes well, but you don’t see any extra cash in your paycheck. This isn’t a weird tax-law rounding error: you’re not getting that raise you want. Here’s why you may have topped out at your job.
It’s Not You (No, Really)
Tech pro pay is plateauing. Our most recent Salary Survey shows that salaries for tech professionals are starting to even out after years of insane growth and impressive sign-on bonuses.
That’s not to say the industry is shrinking. Job availability is still incredibly high, but the pay levels didn’t budge much between 2016 and 2017. So it may have nothing to do with you at all!
Your Bosses Want You To Go
It might be a hard pill to swallow, but your manager may just hate you.
A dearth in annual or quarterly raises may just be evidence that your supervisor doesn’t appreciate your work, despite adequate performance on your part. If you sense this is the case, speak with your managers first. But if the situation is truly untenable, you could always jump ship: 63 percent of respondents in Dice’s Salary Survey said they were planning on switching to a new company in pursuit of higher pay – and 23 percent anticipated losing their jobs anyway.
You Hit Your Ceiling
If you’re not seeing a raise, you may have reached your natural zenith at your current company. It’s possible they don’t see a track for promotions, or even another raise. Whatever the case, the reason probably isn’t malicious; but if more money is important to you, it’s probably time to move on.
Are you a PHP developer in Minneapolis with five years’ experience? Do you think you should make six figures? Is that $80,000 annual salary making you mad?
We admire your drive, but you could be overreaching. Your company almost certainly knows what tech pros with your position, skills, and experience make; which means (in the Minneapolis example) they know you make ten percent more than average for your role. The market for giving you a raise may simply not exist.
The Dice Salary Predictor (also available in the iOS and Android Dice apps) can help you understand what you should be making for someone with your experience and skill-set. It’s great for a gut-check, and also a good negotiating tool.
Maybe the lack of raises signals it’s time to consider a new role within tech, or learning a new technology or skill. You may also want to consider moving: Plenty of tech pros are fleeing Silicon Valley for greener pastures. A new city can provide not only the opportunity for a new job that pays more, but also an adjusted cost of living that frees up more of your paycheck.