This was a growing company making an active effort to pay market rate - I realize this doesn't apply to everywhere.
At the point where the market rate has shifted that much and my employer hasn't caught on, I'm out the door myself. ;)
"Maybe the replacements suck in comparison" is certainly something we would've noticed - happily, it wasn't the case.
But we were hiring basically constantly, since there was no team that had enough people for the work the company wanted to do, even before attrition. So we had a good feel for what we could get for the money. If someone on the team can do better elsewhere, though, more power to them - I would certainly take that opportunity too.
Thanks for the response and glad to hear the new hires have been good!
Admittedly I'm a little burned on this issue. My previous (and first job) was severely underpaying me and all my coworkers. I stayed there for 3 years, wanted to leave after 1.5/2, put a pause on it when covid hit, and finally completed the move earlier this year just around my 3 year mark.
Leaving got me an 80% raise in total compensation and 4 other people on my team/org all left with at least a 50% bump.
All within a few weeks of each other too o.O!
It's such an interesting dynamic and market today and so fascinating to hear about people's experiences as they jump around. Thanks for sharing your perspective!
At the point where the market rate has shifted that much and my employer hasn't caught on, I'm out the door myself. ;)
"Maybe the replacements suck in comparison" is certainly something we would've noticed - happily, it wasn't the case.
But we were hiring basically constantly, since there was no team that had enough people for the work the company wanted to do, even before attrition. So we had a good feel for what we could get for the money. If someone on the team can do better elsewhere, though, more power to them - I would certainly take that opportunity too.