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How do you measure the performance of a developer?

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@utee wrote:

Employees often think they are not being paid well. Employers on the other hand do feel their employees aren't worth any more. The solution has been performance-based remuneration with a minimum acceptable wage at entry level and a satisfactory maximum or possibly no maximum.

For some fields, it is easy to measure performance, e.g. that of a digital marketer. The borderline is always the amount of revenue brought into the business directly or indirectly, from which a percentage is used to determined remuneration.

But how do you rate the performance of a position such as that of a developer? What metric or KPI can be tied to 'writing code' and used to determined benefits?

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