So of course we got to talk about it, my thoughts on it, and how we can use it…
What is Levels.fyi?
If you don't know what Levels.fyi is.. they provide salary transparency in the tech industry that mostly leans toward big tech companies, and tech career roles.
They give you real, user-reported, total compensation packages, and can help you with data point to use in your salary negotiations out in the industry.
What do these numbers mean?
So they've come out with this report for this year analyzing the user-reported compensation packages for different tech roles, and their percentage differences from 2022 to 2023.
I think the biggest thing that stands out here to me is that a lot of these roles are only increased by 1-3% across all these tech roles.
What that says to me is that the increase is not meeting the rate of inflation.
I don't even know what the rate of inflation is, but based on my experience, it ain't that it..
They also showing the top pay by engineering level. It shows some of the top salaries across tech roles; these are top of range. Almost like a million dollars for some of these here. Damn.
One thing to keep in mind with these number is that they are “total compensation”.
So that means base salary + any bonus they got, + any stock compensation that they got, even if they don't sell the stock; just any stock that the company gave them within that year, that will go on their W2 for that year.
Sometimes this confuses people, which may be why some people may think these numbers are higher than they would expect..
For example, a person could be making $140,000 a year, 50,000 in stock compensation and another 50,000 in a bonus to make up this 240,000. It's just an example..
How to use it to your advantage?
Well, if you're going for a new job during salary negotiations, or if you're at your same job asking for a raise, you can take this as a data point for other’s are getting paid, and what the increase has been since last year.
For example, if you feel you are underpaid, you can take this as data point to help set the bar at where you think you should be.
If you're a high performer (and they've given you feedback that you're a high performer), then you can try to level set with some of these, but take into consideration your location and the level of company that you're at.
Keep in mind that these numbers are leaning toward bigger tech companies; the biggest ones in the world, and in some of the highest cost-of-living cities, like New York and San Francisco. So that means the numbers could be higher than typical in your area/company..
That being said, it could definitely be beneficial to come look at this and use this for your career.
Use it accordingly, but don't get too low if you're making less than this, AND don't get too high if you making more than this.
There are a lot of factors that go into this, and it's just a subset of the data of people that actually submit their data to this site.
Use this to be data-driven in your research and approach to determining if you are making what you should be, in your salary negotiations coming up if you have those, or for asking for a raise. Be sure to keep in mind your companies size/clout, and your location/cost-of-level.