Nothing great so far in salary - Pls advise.
#microsoft #meta #google #netflix #apple #amazon #uber #sap #oracle #salesforce #salary You guys frequently share impressive total compensation figures like $300K and above. I feel disheartened seeing such lucrative packages. At 40 years old, I've been in IT ERP for the last 18 years with a current TC of $125K. I'm on a visa, have a young daughter, and a non-working dependent wife. My lifetime savings amount to around $250K, with no assets such as a house, land, stocks, or investments, and no liabilities. I'm frustrated and even tearful. I'm working because I have to, and there's low demand for my skills. I'm open to learning new skills that could lead to a higher salary, similar to FAANG companies. Please advise the steps and help me out; I'm genuinely very sad. #investments #personalfinance #softwaredevelopersalary #software
Does leetcode problems. That's it. Go to neetcode.io and do the Blind 75 or Blind 150 and really understand it. If you can answer a few leetcode medium questions correctly in an interview, you have a 60-80% chance of being hired at a brand name tech company. You know what to do now. It's all up to you.
Thank you very much for sharing prep site details.
Yeah, get your development skills up to date by practicing on Leetcode, doing advent of code in a modern language (Python, Go, or Rust if you want to target backend roles, Javascript if you want to target frontend roles), and reading something like "Designing Data Intensive Applications" by Kleppmann. Soft skills and communication are key, and you'll be at a slight disadvantage if your English is weak. (though there are plenty of really strong engineers with weak English skills in FANG, so it's a hurdle that can be overcome) You may want to join a local Toastmasters chapter if you want to speak more confidently and clearly. Good luck, it's definitely doable!!! Think of the time you spend studying/practicing/interviewing as a 2nd job that pays you way better than your first job. (You'll get paid when you accept your next job offer) Keep in mind that the biggest compensation packages you see on here are the result of six things: 1) luck 2) strong interview performance 3) strong competing offers 4) negotiating hard 5) more luck 6) sampling bias (nobody brags about their low offers on Blind!) Hang in there! If you are determined, it is definitely within reach. Try to avoid burning yourself out, though!
Thank you for a detailed advice. Appreciated!
No prob, OP! I was in a similar-ish position myself about 4 years ago. I was making ~$150k on the outskirts of a VHCOL area and had no house, no non-retirement-account investments, and ~$120k of cash in a savings account. (aka net worth less than 1 year of my gross salary) Moving from a med business I'd been at my entire career to Microsoft (with no matching offer to use for negotiating) was a 65% raise, and moving from Microsoft to Meta (negotiated hard using a competing offer from a startup) was another 40%+ raise from that. After stock growth, I've literally paid more just in taxes this year than what I used to make. If you put in the work to be ready to take advantage of good luck when it comes your way, you may be amazed at your future earnings!
$250k should at least be in a high-interest savings account. Stock valuations are high right now, but consider slowly but regularly buying into VOO, VTI, or some other low-cost diversified index fund.
By IT ERP you mean doing IT work with SAP? Do you work with ABAP? If yes, one possible avenue to explore is looking at companies such as Salesforce and Oracle where your skills will organically apply. Look for roles within those companies and apply. If you are able to get your foot in the door at either one of those companies it will give you a good bump in your TC and you can use that to then plan your next move after spending 3-4 years there. Depending on if you have people management experience, you can also target Manager/Snr Manager roles in Engg. Since you have experience of the functional side of the business, you can also check out Business Analyst roles at Oracle for eg. as another avenue to get your foot in the door to a higher paying job. Last but not the least, I can totally understand how blinding Blind is when all you see are people posting high TCs, but know that what you have is a sizeable amount of savings considering you are the sole earning family member. You still have majority of your career life ahead of you, so if you are motivated to get a higher TC, then there are plenty of resources around you to get started. All the best and don't get disheartened. Keep at it for a few months and I assure you, you will land a lucrative role soon.
Thank you for the great options, but those companies pay a maximum of around $180K, even at a very senior level position like Senior Principal Consultant. I have explored that option in the past. We have to show our billable utilization to the company, which is totally out of our control in a situation when we are not working for any client. I would prefer to continue with my current job and prepare in the evenings or on weekends for future opportunities as a developer or manager in FAANG or similar reputable companies which pays better. 4 years earning in FAANG gets TC:$250 and 18 years earning in ERP gets $125K. Feeling bad for all the time and hard-work I have put in so far. Wrong decision - my bad!
IT in ERP sounds quite vague, what exactly are you doing? Can you code?
@day1banana - Yes - I was a technical consultant before getting into functional. I can code really well just need to refresh my old skills.