A big raise for this year
Posted by Frugal on March 28th, 2008
This year’s raise is less than previous year, but my raise is still about the double of the average engineers in my group. It’s fairly good by any measure.
One of the best ways to make more money is to invest yourself in your job and career. Whether it’s spending more time, volunteering, attending seminar and conferences, or picking up some broader knowledge. In the long run, it will pay off.
I was blessed to be recognized for my contribution, after pulling off a mission impossible, delivering a complex design in less than 4 months, which would have been normally completed for 8 to 10 months. I was working about 100 hours a week for about the last two months during that crazy schedule. It was a mis-management on the product map, but engineering came in and saved the day.
My working group has all the best people, so I probably won’t rise up to become a manager for another 10 years, even though I’m very experienced already. It’s very weird to have a (or multiple) former regional manager from a big company to work at the same (lowest) level as you are. But that’s just how good the quality of my working group is.
Unfortunately, by the time when I could possibly rise up to the next level, I think my industry would have been either outsourced to Asia, or being taken over by Asian companies. High-tech industry in the US is getting less competitive as China rises up. Therefore, before my retiring age is reached, I will probably need to find another career.
But I don’t think it would be such a big deal. I respect every profession as the necessary component of the entire society, and I’m sure I won’t have a problem doing something else.
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March 28th, 2008 at 6:32 am
congrates on ur raise/bonus
March 28th, 2008 at 9:06 am
How is working so mant hours going to affect your money management business? Or, how is your MM business going to affect your future raise potential?
March 28th, 2008 at 11:21 pm
Hey… I’m also in engineering. What do you think i should do now if the future in engineering doesn’t look so good in the US?
March 29th, 2008 at 3:37 pm
grats on the nice raise.
I am do for a raise this month, but it doesn’t sound like it will be as handsome as yours.
March 29th, 2008 at 9:11 pm
I will always pay sufficient attention to the clients’ money, like my own.
My future raise?? I don’t think that far. Just want to do every of my job properly.
There are some economic trends that individuals just can’t fight against. Either you pay attention to the trend, or be swallowed by it. For engineering, I’m guessing one should move to the center of the development to continue one’s career. Moving oversea obviously is a big decision.
I’m ready to get off my career in about 15 years (or less), which probably will be 10 to 15 years earlier than my desired retirement age. That’s just how things go. I’m very optimistic, because there are always so many things that one can do, if one is courageous enough to overcome his own pride.
March 30th, 2008 at 7:42 pm
Do you have a strategy for how you are going to allocate the raise to saving / spending / investments? I’d recommend saving at least 50% of this and any future pay increases … your thoughts?
March 30th, 2008 at 11:16 pm
if engineering careers are not attractive to Americans how will America maintain its standing in the world ? that should profoundly change our long term investment strategy.