I started working as an entry level engineer at my current company a little over a year ago.
I'm working with my manager to aim for promo in this next half (cycle would take place at the end of the year) to go from L3 -> L4. We both feel reasonably confident about putting up a packet. I also really like my manager and my team. I feel that I'm learning a lot and have decent WLB. Additionally, the L4 compensation range at my current company appears to be near top of market.
However, the L4 -> L5 promo timeline at my current company appears to be somewhat slow (2.5-3 years) and there's always some risk that the promotion doesn't go through this cycle.
Is it worth passively looking for jobs on the side to cross promote to L4 or should I just focus that time and energy on building a stronger promo packet for this half?
So you have:
I don't have full context here, but leaving this job (or even just devoting substantial energy pursuing that potential) seems like a bad idea 🤔. Most engineers would kill to be in your position.
However, the L4 -> L5 promo timeline at my current company appears to be somewhat slow (2.5-3 years) and there's always some risk that the promotion doesn't go through this cycle.
2.5 to 3 years is not slow for L4 to L5 - It's actually quite fast, especially given the market. Even when the market was good, mid-level engineers at Amazon and Google often took 4+ years to make the jump to senior.
I highly recommend the promotion course - It seems like you should just ride this gravy train while it lasts: [Course] Nail Your Promotion As A Software Engineer
I would stick around at least until you get the L4 (mid-level) promotion, since you almost have it. This has two benefits:
However, 2.5-3 years for the subsequent promotion is a long time. First lock in the promo, then explore external opportunities where you could grow faster.
One note on that, though: if you decide to interview, make that an active decision rather than passive. You ideally want 5+ interviews lined up to increase the chances of getting multiple offers and gaining leverage.