I find it hard to believe some of these listings are offering 5x to 8x my current compensation for the similar role and experience (I am from a developing country).
I was wondering whether the compensation offered by these companies are dependent on location of the developer? If so how much would it matter?
I just want to clarify before I apply.
(sorry for my bad english)
And you definitely won't get a good salary if you don't apply. So apply.
Yes, those remote positions and compensations are most likely real.
Companies go/explore/allow all-remote in order to profit, usually in three ways:
- by getting access to talent pools otherwise not available to them due to geographical constraints.
- by getting access to talent pools and markets where they may get a similar output/value for a similar or even lower salary to that expected in the markets where they have a physical presence.
- by being active in the conversation about remote work and the future of the workplace and wherever those conversations happen.
So, even if your salary at one of this companies is 8 times your local rate, if you're good it'll most likely be worth it to them. Especially since:
- if they hired someone in NYC, Amsterdam, Tel Aviv or SF they'd be paying much more.
- they most likely don't need or want "a rockstar", whatever that is.
- they've interviewed you and have verified, to a certain extent, that you can perform well and can get you to comply with their standards, their expectations and needs; different as with an overseas contractor/outsourcing agency.
If your profile is impeccable and it screams "this person is a potential amazing hire", I'd suggest you aim for being compensated on the value you provide at the highest possible market rate the company you're interviewing with has access to.
If you're a good professional in a not-so-great job market in a developing country aiming to break the ice with remote work and big/interesting tech players, I'd suggest you aim for at least 1.5 your possible local compensation.
As someone pointed out in another comment, you can use GitLab's salary calculator to benchmark your country of residence and you job family in different scenarios.
https://about.gitlab.com/handbook/people-group/global-compen...
https://about.gitlab.com/handbook/people-group/global-compen...