Salary Increases
Feb 5, 2021 20:13 · 223 words · 2 minute read
In one of my first posts I stated that I reached my goal of € 80k gross salary per year end of last year. In 2017 I started with less than € 50k as my target salary, now in 2021 I’m around € 85k.
That’s quite a good development in my opinion and working at a big IT consulting company paid off for me (literally). The following table is showing my increases year over year as salaries are adapted per January at my current employer. Total increase accounts the growth rate of my target salary (which consists of fixed + variable pay). The fixed increase is the growth rate of my fixed part. And the variable split is the percentage of my salary which is variable (e.g. in 2017 I had 95% of my target salary fixed + 5% of my target salary variable).
| Year | Total Increase | Fixed Increase | Variable Split | Cumulative Growth |
|---|---|---|---|---|
| 2017 | - | - | 5,00% | - |
| 2018 | 14,29% | 8,27% | 10,00% | 14,29% |
| 2019 | 10,71% | 10,71% | 10,00% | 26,53% |
| 2020 | 14,52% | 11,34% | 12,50% | 44,90% |
| 2021 | 19,72% | 23,14% | 10,00% | 73,47% |
So over 4 years of working I had a cumulative growth of 73,47% - I’m curious when I’ll double my starting salary 🤔. If you’re looking at the number from another country: I provided a bit of context 🇦🇹 regarding the median income in Austria.