5 ms·

In Germany, if an employee gets laid off after 2 years, they would get 50% monthly salary times number of years worked, so 1 months pay. That means the Airbnb

In Germany, if an employee gets laid off after 2 years, they would get 50% monthly salary times number of years worked, so 1 months pay. That means the Airbnb severance package is equivalent to a 6+ year employee, for every employee getting laid off. That's generous by German standards, isn't it? Then when you consider the median income for a software engineer in Germany is $54k, whereas in the USA it's $92k, and at Airbnb it's $200k+, that means that an engineer being laid off from Airbnb could be receiving the median annual income of a software engineer in Germany as severance, not including stock. That, to me, is generous. https://www.howtogermany.com/pages/termination-employment-contract.html https://www.howtogermany.com/pages/termination-employment-co...

beagle3 6y ago
In Denmark according to GlassDoor [0], Avg developer salary is 530K DKK/yr =~ $76K ; The policy for severance months[1] is sliding, but is front loaded and starts at with 1m severance for 5m worked, sliding down to 6m severance of >9years with a few more stops. In Israel, according to GlassDoor [2], the avg pay for a software developer is 253K ILS =~ $72K USD; severance policy is 1m severance for every 1y worked. When I was employing people in the UK, salaries were significantly higher than those paid in Israel or Denmark, though they are lower (~$68k/year) now that the GBP lost so much of its value (and ... I haven't employed anyone in the UK for more than a decade; not sure how different it is now) I'm not familiar with the german market, but - $75K vs. $92K is 20% difference, which from my experience is very consistent, including at the high end (Amazon in Israel is offering top engineers $300K-$350K/yr for example, and I would guess FB, Goog, MSFT are doing that as well, "regular" senior engineers at the $150K level). And it's important that this severance pay is not, in any way, dependent on benevolence, generosity, or even proper management in most cases -- employers are forced fund governmenta-approved-and-regulated severance funds on a monthly basis, so bankruptcy doesn't rob the employee. McDonald's employees get the same arrangement, although some companies (mostly finance and high tech) are much more generous than that. [0] https://www.glassdoor.com/Salaries/copenhagen-software-developer-salary-SRCH_IL.0,10_IM958_KO11,29.htm https://www.glassdoor.com/Salaries/copenhagen-software-devel... [1] https://www.eurofound.europa.eu/observatories/emcc/erm/legislation/denmark-severance-payredundancy-compensation https://www.eurofound.europa.eu/observatories/emcc/erm/legis... [2] https://www.glassdoor.com/Salaries/tel-aviv-yafo-software-engineer-salary-SRCH_IL.0,13_IM1002_KO14,31.htm https://www.glassdoor.com/Salaries/tel-aviv-yafo-software-en... - note, this is for Tel-Aviv but payscale.com gives a similar number for the entire country. p.s. Israel is not actually in Europe - it's in Asia (very close to North Africa and relatively close to Southern Europe). But from a legal and cultural perspective, Israel is closest to being European -- specifically, Irsaeli Laws were forked from British Laws in 1948.

beagle3 6y ago

In Denmark according to GlassDoor [0], Avg developer salary is 530K DKK/yr =~ $76K ; The policy for severance months[1] is sliding, but is front loaded and starts at with 1m severance for 5m worked, sliding down to 6m severance of >9years with a few more stops. In Israel, according to GlassDoor [2], the avg pay for a software developer is 253K ILS =~ $72K USD; severance policy is 1m severance for every 1y worked. When I was employing people in the UK, salaries were significantly higher than those paid in Israel or Denmark, though they are lower (~$68k/year) now that the GBP lost so much of its value (and ... I haven't employed anyone in the UK for more than a decade; not sure how different it is now) I'm not familiar with the german market, but - $75K vs. $92K is 20% difference, which from my experience is very consistent, including at the high end (Amazon in Israel is offering top engineers $300K-$350K/yr for example, and I would guess FB, Goog, MSFT are doing that as well, "regular" senior engineers at the $150K level). And it's important that this severance pay is not, in any way, dependent on benevolence, generosity, or even proper management in most cases -- employers are forced fund governmenta-approved-and-regulated severance funds on a monthly basis, so bankruptcy doesn't rob the employee. McDonald's employees get the same arrangement, although some companies (mostly finance and high tech) are much more generous than that. [0] https://www.glassdoor.com/Salaries/copenhagen-software-developer-salary-SRCH_IL.0,10_IM958_KO11,29.htm https://www.glassdoor.com/Salaries/copenhagen-software-devel... [1] https://www.eurofound.europa.eu/observatories/emcc/erm/legislation/denmark-severance-payredundancy-compensation https://www.eurofound.europa.eu/observatories/emcc/erm/legis... [2] https://www.glassdoor.com/Salaries/tel-aviv-yafo-software-engineer-salary-SRCH_IL.0,13_IM1002_KO14,31.htm https://www.glassdoor.com/Salaries/tel-aviv-yafo-software-en... - note, this is for Tel-Aviv but payscale.com gives a similar number for the entire country. p.s. Israel is not actually in Europe - it's in Asia (very close to North Africa and relatively close to Southern Europe). But from a legal and cultural perspective, Israel is closest to being European -- specifically, Irsaeli Laws were forked from British Laws in 1948.