3 ms·
> If 80-90% of it is in stock / options with vesting (as I'd suspect it is based on that article) it is likely only true after the targets / target dates are hi
by pooper 9y ago
> If 80-90% of it is in stock / options with vesting (as I'd suspect it is based on that article) it is likely only true after the targets / target dates are hit.
My initial reaction was:
Does anyone actually do this? If someone says "salary" package, I'd assume all of it is cash.
but then I took a peek.
> Top performers can make $1 million in salary and bonus a year, plus options, according to people familiar with its hiring. Total compensation can exceed $3 million. Zhang declined to comment on specific figures, saying most employees prefer stock over cash.
So it is $1M in salary/bonus and up to $2M+ in stock grants bla bla (paper that I can't spend).
> Zhang isn’t backing off his aggressive plans, despite the controversies over pay and business practices. Asked about one competitor's concern that Toutiao is trying to hire 200 AI engineers, a huge number given the limited pool of talent, Zhang says that's not quite right: "It may be more than 200.”
This is the interesting part. at $1M per head, 200 engineers is $200M. It sounds like a lot and it is. I feel like someone is getting taken for a ride and I suspect it is the poor idiots who are taking $3M+ in paper over a little under $1M in cash salary and bonuses.
I'd take the $1M cash and save like crazy because this is ridiculous overspending. I cannot imagine why you'd need 200+ data scientists to work on this project.
But then I want to remind the reader that I have been wrong before and spectacularly so about Dropbox. I cannot believe Drew and gang are doing so well for themselves. Make sense that I am a poor idiot on the Internet.
- mywittyname 9y agoBecause each of those data scientists are a billion+ dollar per year lottery ticket. $3mm per year is a steal when you look at it that way.