Hi all, I was running the numbers the other day and realized that to my surprise I'd increased my rate ~4.7x over the last three years. I'm doing better work now and enjoying myself more -- so I figured I'd write up some of the factors that went into that increase in the hopes that it will help somebody else do the same.
Very detailed article! I was wondering however if, during your application of this strategy, you've found that a lack of company (and team) loyalty has reduced the quality of relationships you've made?
And it's hard to say, but I would guess probably quality of the relationships haven't changed too much, although they are definitely of a different nature.
I'm always running into other contractors that are doing the same thing, and everybody knows that the relationship formed there will extend beyond just the one job. In a way, these relationships are stronger because they can persist for years after you've finished working together -- making friends is a good way to find new work.
I also have made up for it in my personal life. I find that I don't necessarily share the viewpoints of everybody that I'm working with, so it's nice to spend more time with people that I've opted to spend time with instead.
So I think even from a relationships perspective I think I've made better friends with people that I meet while contracting (and choose to maintain relationships with) than I have when meeting people after being assigned to a certain team.
Great article Elliot. You write that one should "change jobs at least once a year" in order to maximize network and salary.
Has this approach held you back at all? As an anecdote, when I was hired for my current job, I was told "we're hiring you under the expectation that you will be here at least two years."
It hasn't held me back at all (the exact opposite, in fact), but it's important to note that this advice should be taken with a grain of salt -- it's not for everybody, as I said at the beginning of the article.
There are (at least) two approaches to managing tenure length as a developer. One of them is the "stay put in one place (usually at a FAANG) for thirty years and retire", and the other is the "take lots of short contracts, with optional breaks".
As long as you behave in a manner consistent with the approach you're taking, you'll be fine. The issue comes when you try to take one approach while believing you are taking the other.
If you change jobs frequently while looking for long-term employment, you'll substantially decrease your chances of being perceived as generating return on investment by potential employers. This is due to the dynamics of long-term employment which result in expensive onboarding costs that can take a while to recoup.
However, as a contractor, the onboarding and sourcing expenditures are typically lower (and budgeted differently): the ROI looks much different. It's acceptable and common to accept find and make short-term roles.
So it just depends what you're going for. I value the flexibility in shorter term employment which has been, in my experience, harder to find with the longer tenure track. It also seems easier to make sure you are being paid what you're worth.
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[ 2.6 ms ] story [ 25.5 ms ] threadAnd it's hard to say, but I would guess probably quality of the relationships haven't changed too much, although they are definitely of a different nature.
I'm always running into other contractors that are doing the same thing, and everybody knows that the relationship formed there will extend beyond just the one job. In a way, these relationships are stronger because they can persist for years after you've finished working together -- making friends is a good way to find new work.
I also have made up for it in my personal life. I find that I don't necessarily share the viewpoints of everybody that I'm working with, so it's nice to spend more time with people that I've opted to spend time with instead.
So I think even from a relationships perspective I think I've made better friends with people that I meet while contracting (and choose to maintain relationships with) than I have when meeting people after being assigned to a certain team.
Has this approach held you back at all? As an anecdote, when I was hired for my current job, I was told "we're hiring you under the expectation that you will be here at least two years."
It hasn't held me back at all (the exact opposite, in fact), but it's important to note that this advice should be taken with a grain of salt -- it's not for everybody, as I said at the beginning of the article.
There are (at least) two approaches to managing tenure length as a developer. One of them is the "stay put in one place (usually at a FAANG) for thirty years and retire", and the other is the "take lots of short contracts, with optional breaks".
As long as you behave in a manner consistent with the approach you're taking, you'll be fine. The issue comes when you try to take one approach while believing you are taking the other.
If you change jobs frequently while looking for long-term employment, you'll substantially decrease your chances of being perceived as generating return on investment by potential employers. This is due to the dynamics of long-term employment which result in expensive onboarding costs that can take a while to recoup.
However, as a contractor, the onboarding and sourcing expenditures are typically lower (and budgeted differently): the ROI looks much different. It's acceptable and common to accept find and make short-term roles.
So it just depends what you're going for. I value the flexibility in shorter term employment which has been, in my experience, harder to find with the longer tenure track. It also seems easier to make sure you are being paid what you're worth.