It also depends on how long you've been at your current employer. Conventional wisdom is that once you're somewhere ~2 years, you're automatically leaving 10-15% on the table, because most companies are very stingy with raises. In an overheated market like SLC, that estimate is probably quite low.

Here's an anecdote: recruiters are so desperate that one of them spammed myself and several associates for a specific role, and this particular solicitation contained an apology that the base was "only" 135k. I know that's "just out of school" rate in SF/LA, but in most of the country, that's considered pretty darn good. And this recruiter is here pre-emptively apologizing to every stranger she spams for the "low" rate.

I got a lot more anecdotes, most of which are substantially better than that, but that's a quick simple one indicative of the kind of market we're in right now.

At a recent-but-former employer, we routinely hired in new people at +40% more than their peers who'd been there for >3 years, simply because the market wouldn't accept anything less and HR was hyperskeptical of any raise >2%.

My advice to anyone unhappy with their current compensation or employer is to go out and ask for the most ridiculous number you can think of. You may be surprised.

Maybe they're holding out for something larger, like 300%,