[s0kr8s]

Caution: you might get paid 50% more to work at a company that is 500% worse managed, and therefore is hemorrhaging employees so fast that the only way they can maintain staffing levels is to offer a hefty premium above normal market wages to get new suckers to take a chance on them.

If you're nihilistic and believe all employers are rotten, then jumping ship every 2 years might be a decent game strategy, but I tend to believe that good employers do exist and are just somewhat rare. So if you find a unicorn, I would recommend holding onto it.

[AlotOfReading]

Perhaps this is just personal experience, but the worst jobs I've ever had also paid the worst. The places that are badly managed either don't know or can't afford market rates, so they try and hire cheap labor. Think body shops, game dev, government positions, etc.

By contrast, a place that has expensive employees is going to see their time as more valuable, so there's a direct monetary incentive not to waste it and the cash flow exists to do things. Doesn't always work, but it dramatically improves the odds.

[amarant]

I agree on all your points, but find it funny that you mention game-dev as a bad example. I know the industry has a bad reputation but some of my best gigs were at gaming companies(and, as per your suggestion, those were the best paid ones too!)

probably relevant detail is that I did contractor work for backend/server stuff for those gaming companies. And the two studios in question have each published the biggest games in their respective categories in the world(which basically means they both have infinite money)

[oarla]

The worse pay is what adds on to the feeling of the job being terrible. As much as many want to claim, its not very satisfying to slog away and ship an elegant product for peanuts. When the pay is lower than what is the standard, it's always going to make the job feel terrible.

[kerkeslager]

The primary reason for having an employer in your life at all is for them to pay you, so the primary measure of a good employer is good pay. Yes, there are other factors, but many of those factors (read: benefits) have known monetary values which are effectively equivalent to pay.

There is no such thing as a good employer who doesn't pay their workers competitively.

While this may not be your intent, your post sounds a lot like a manager narrative that "sure, our pay and benefits leave bit to be desired, but we have a great culture and we're well managed". That's not a thing. A great culture is one where everyone is paid enough to live comfortably, and when the company does well financially, workers do well financially. The primary measure of managing well is paying your workers well.

The things management does besides paying their workers simply do not have enough impact on workers' lives that they can "manage" well enough to make more difference in an employee's life than a 20% increase in pay, let alone a 50% increase in pay as you describe. Beyond behaving at all in an appropriate manner, i.e. not verbally, sexually, or physically abusing your employees, your actions as a manager simply don't impact workers' lives as much as that much money does.

And in fact, other attributes of management are correlated with pay in my experience. The company you describe, that pays well but is otherwise terribly managed, is not one I have experienced. In most cases, a company that pays well is great to work for in other ways, and a company that pays worse is terrible to work for in other ways. The management mindset that is stingy toward workers doesn't stop at pay.

[s0kr8s]

I never suggested that there are good employers who don't pay their workers competitively.

I instead suggested that there are bad employers who pay above market rates as a way to compensate for problems with employee retention. Sure, they'll run out of money doing that eventually, but you'd be surprised how long a business can cover up their mistakes with such a strategy, especially with the right funding partners behind them.

If you have not had the misfortune of working for such a business, that's great, but I believe there are plenty of comments here on HN to support the notion that such businesses not only exist but are fairly common in any industry touched by Venture Capital or Private Equity, and I have seen many even suggest that their higher financial compensation ends up not being worth it in light of the added psychological and physiological toll.

[fire_lake]

This is true. The pool of companies hiring is biased towards companies with poor retention.

[giantg2]

In general I would agree. However, you could have many people retiring early from fat salaries, or high growth with low attrition.

[kstrauser]

Or you might double your comp in a much calmer role. That’s what happened to me within the last year.

[agent281]

This happened at my last job. There was literally drama every week. I stayed for a bit over two years, but it was absolutely awful.