If I started hunting for a new job now, I wouldn't take $current*1.05f, I'd go for $MARKET_RATE
That's the only number that really matters here when push comes to shove. It doesn't matter how good you are, no local companies are going to pay you $500k/year to act as an individual contributor in Idaho or Tokyo, because the market rate is ~$90k. On the plus side, if you get an offer for a principal FAANG engineer position in the SF Bay, you can negotiate up to $500ish even if your last job was paying $90k.
If I started hunting for a new job now, I wouldn't take $current*1.05f, I'd go for $MARKET_RATE
That's the only number that really matters here when push comes to shove. It doesn't matter how good you are, no local companies are going to pay you $500k/year to act as an individual contributor in Idaho or Tokyo, because the market rate is ~$90k. On the plus side, if you get an offer for a principal FAANG engineer position in the SF Bay, you can negotiate up to $500ish even if your last job was paying $90k.