4 ms·
You don't need to win the IPO lottery to make good money in tech. Facebook's median compensation according to their SEC filings is 240k/year. That's the median
by esoterica 8y ago
You don't need to win the IPO lottery to make good money in tech. Facebook's median compensation according to their SEC filings is 240k/year. That's the median over all employees; the median engineer compensation is probably even higher. If half of their 25,000 employees are making 240k+, a decent fraction of them are probably making 400k, 500k+ even. It's hard to consider these people exploited.
- maxxxxx 8y agoGetting a job at Facebook is also a lottery win. Not too many will get a job at these highly paying companies.
- esoterica 8y agoIt's a minority of tech workers who will end up at a FAANG-tier company, but it's not a tiny minority. There are hundreds of thousands of people being employed by firms in this category. It's less like winning the lottery and more like winning a dice roll.
- MrTonyD 8y agoI was reading that it is up to the discretion of companies like Facebook as to how they compute the median. So Facebook can decide to include stock options and projections of their future value when computing the median. I suspect that they fudged their numbers in an effort to make their executive pay look reasonable relative to the employee pay.