Pale-Lettuce7794's journey

I’m currently navigating a tough situation at my job as a catastrophe modeler at a large insurance brokerage. I earned my PhD in Civil Engineering last year and chose to move into the industry instead of staying in academia. While the role is relatively easy—mostly running software and supporting other teams—I’ve taken the initiative to build and maintain our team’s data pipeline and repository, along with developing in-house models for portfolio optimization. Despite receiving "exceeding expectations" on every performance review, I’m feeling demotivated due to the lack of a meaningful raise and a clear path to promotion. My manager initially mentioned a 6-8% raise, but when I brought it up during my August review, he didn’t recall making that promise and suggested I was asking for too much. I provided metrics showing my contributions and achievements, but upper management only recommended a 2% raise, which feels inadequate given the rising cost of living in San Diego. I appreciate my manager and the work-life balance, but I need fair compensation and a real promotion pathway to stay motivated. Knowing that promotions are slow here and that many coworkers have been waiting for years without progress adds to my frustration. Currently, I’m interviewing for a contract-to-full-time role elsewhere that offers a salary nearly double my current pay, along with benefits like insurance and a 401k. Although contract work makes me nervous, the potential for a career jump is enticing. I’m torn between staying in a comfortable position with supportive management and pursuing this new opportunity that could lead to better financial stability. I’d love to hear from others who have made a similar transition from contract to full-time.