Here are my two cents:
First question:After switching a job (of 2-3 years), what is the percentage salary hike average among the Indian IT companies?
This depends on the situation.How desperately is the company looking to hire someone?Do they need the candidate yesterday, today or tomorrow? Are they in a hurry to hire ASAP? If yes, thenyou can crack a dealof your choice - 30%, 40%, 50%, 60%, 70% - all these are just numbersif they feelyou are the right candidate for the job, Further,if you can join within the given time framethen you can ask for as good as 100% hike because in this scenario the hiring company is desperate to hire the right candidate.
If the hiring company is not desperateor if they are hiring in bulk/ for the bench then they will give you all the time in the world to join, that is three months in India, and you will get somewhere around 30% or 40% hike based on your experience, skill and your ability to negotiate.
Second Question:How much of a salary hike should one ask for?
In my opinion, here is the most important tip on this subject.
Let us imagine your salary is Rs 4 Lakh per annum.
Now ask yourself:“how much do you think you deserve?”
If your answer is 6 Lakh per annum. Ask yourself one more question.
“What is the amount which you feel is totally absurd? or Do you feel that the employer will be ready to pay 7 Lakh per annum for this job?”
If you think 7 Lakh is not absurd then ask again “What is the amount which you feel is totally Irrational? or Do you feel that the employer will be ready to pay 8 Lakh per annum?”
Continue this process till you reach a point when you reach an amount which you feel is absurd or an amount which you think you do not deserve or an amount which you think the employer will never pay for this job.Ask for this irrational amount as your expected salary.
This is how you break your own limitations because everything is in your mind.
I know people who used to earn 3.5 Lakh per annum, To begin with, they thought going from 3 Lakh to 6 Lakh was impossible.But guess what!They got offers as good as 8 Lakh per annum and in some cases 11 Lakh per annum.
Of course, your skill, your expertise and experience are key factors which determine your power position when you sit on the negotiating table, however,I have seen a lot of people under-rate themselves and settle down for an amount which is way too less than what the employer would have offered; just because they did not dare to ask beyond their imagination of self-worth.
FAQs
Some companies may offer you just a 20% hike (or less), some might offer you a 100% hike (or more) based on these factors. That said, if you have about two years of experience and score well enough in the factors mentioned above, expecting a minimum of 30% to 40% hike may be reasonable.
How much should a software engineer with 2 years of experience make? ›
$89,000 is the 25th percentile. Salaries below this are outliers. $122,500 is the 75th percentile.
How much salary do you expect after 2 years experience? ›
Talk to your senior in your firm to know more about it. You should expect 5 -7 LPA after two years of experience in development. Though your hike will depend on your performance and try to promote your profile on social media to get some more engagement. Actually it depends upon ur current salary.
What is the average raise for a software developer? ›
Some companies may offer a 20% hike in your salary, and some may offer more. However, with a minimum experience of 2 years expecting a salary hike of 30-40% is reasonable and you can also become a principal software developer.
What is the highest salary for 3 years experience software engineer? ›
3 years of minimum experience is required to be a Software Engineer III. What is the highest salary for a Software Engineer III in India? Highest salary that a Software Engineer III can earn is ₹41.0 Lakhs per year (₹3.4L per month).
Can I make 200k a year as a software engineer? ›
Software Engineering is a very well paid career field. It's definitely possible to make $200k as a Software Engineer. Salaries are very high, especially in the US, because venture capital puts so much money into startups.
Can I become senior software engineer with 2 years experience? ›
Find a junior software engineer role
Start your career as a junior software engineer, as at least four or five years of experience are necessary before you can advance to a senior role.
Is a 20% pay increase good? ›
It's always a good idea to ask for anywhere between 10% to 20% higher than what you're making right now. You may be able to ask for more based on your performance, length of time with the company, and other factors. Make sure you come prepared when you negotiate your raise and be confident.
Should I expect a raise after 2 years? ›
Technically, two years could be considered the maximum time you should expect between raises, but don't allow it to go that long. If you wait to start your job search until 24 months have passed, you may not be in a new job until you're going on a third year of wage stagnation.
How to negotiate salary after 2 years? ›
Stress the Benefits
If you have accomplishments that show your worth to the company, list them. Show how much money you, or your position, contribute to the bottom line. Look to the future, too. Describe your plans and goals for your job, and how the company will benefit more from your work in the years to come.
Senior Software Engineer
The expected salary range for this position is $300k - $520k.
Can I make 100k as a software developer? ›
Yes, you can make $100,000 per year as a software developer.
The chances of earning over $100k for a software developer are actually pretty good because the highest-paid software developer positions typically pay at least $122,000 per year.
What is a respectable salary increase? ›
Standard pay increases range from 3% (average) to 5% (exceptional). Asking for a 10% to 20% increase, depending on the reason, is a way to open negotiations. Knowing how to ask for a raise and when is critical. Ask for a raise at an appropriate time, such as after a strong quarter or positive performance review.
Which big tech company pays the most? ›
Google employs more than 150,000 people globally. As one of the highest-paying tech companies in the world, Google employees earn between $83,000 and $317,500 per year. Find Google jobs and Google Cloud jobs on Monster.
How much does a Google L3 make in New York? ›
Google L3 Salary in Brooklyn, NY
| Annual Salary | Monthly Pay |
|---|
| Top Earners | $136,479 | $11,373 |
| 75th Percentile | $120,300 | $10,025 |
| Average | $84,863 | $7,071 |
| 25th Percentile | $66,400 | $5,533 |
Google Software Engineer Salaries
| Level Name | Total | Base |
|---|
| L3 SWE II(Entry Level) | $192K | $144K |
| L4 SWE III | $271K | $174K |
| L5 Senior SWE | $373K | $204K |
| L6 Staff SWE | $541K | $248K |
Software engineers typically earn at least $100,000 to start, but depending on experience, company, and location, the base salary can be well into the two- or three-hundred-thousands. This is typically the least negotiable component of compensation, as it's the most consistently paid out and is the least variable.
What is a Level 1 software engineer? ›
As a first-level engineer, you may be working as an intern or a junior software engineer . At this stage is of your career, you are developing your technical abilities and working to resolve and troubleshoot code and software related issues.
How much do software engineers make in London 2 years experience? ›
What is the salary trajectory for a Software Engineer II?
| Job Title | Salary |
|---|
| Software Engineer II | £75,460 /yr |
| Senior Software Engineer | £90,574 /yr |
| Software Engineer IV | £99,135 /yr |
