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Anyone angel on a FAANG salary, not FB IPO millions?
by person_of_color 6y ago
Anyone angel on a FAANG salary, not FB IPO millions?
- cellis 6y agoYou have to be an accredited investor, most even non-faang-but-sv-sfbay senior swes can demonstrate this after 3 years.
- person_of_color 6y agoHow? do vests count as income here?
- shajznnckfke 6y agoAnything that shows up on your tax return.
- pavlov 6y agoIsn’t the requirement $2M net worth? Or did that change?
- einarvollset 6y agoAccredited Investor: Basically $200k annual income or $1m net worth Qualified Client: $2m net worth Qualified Purchaser: $5m in “investments” not including the fund invested into </venture compliance nerdery>
- smabie 6y ago250k/yr in income or 1m in net worth. So many (most?) SV engineers are qualified.
- jhardy54 6y agoMaybe at FAANGs, but $250K is far above the median SWR salary in SV.
- bradlys 6y agoMaybe for salary but not for TC. I suspect median TC in the bay area is close to $250,000 just because of how many people are earning $300k+ at public companies.
- person_of_color 6y agoReal world isn’t Blind
- jhardy54 6y agoAccording to levels.fyi, you're right: https://www.levels.fyi/Salaries/Software-Engineer/San-Francisco-Bay-Area/ https://www.levels.fyi/Salaries/Software-Engineer/San-Franci... Median Compensation Package: $237,000 - Base Salary: $152,000 - Stock Grant: $85,000 - Bonus: $1,000
- oneearedrabbit 6y agoCorrection: an individual income - 200k/yr as of Oct-15, 2020 [1] > Any natural person who had an individual income in excess of $200,000 in each of the two most recent years or joint income with that person's spouse in excess of $300,000 in each of those years and has a reasonable expectation of reaching the same income level in the current year [1] https://www.ecfr.gov/cgi-bin/retrieveECFR?gp=&SID=8edfd12967d69c024485029d968ee737&r=SECTION&n=17y3.0.1.1.12.0.46.176 https://www.ecfr.gov/cgi-bin/retrieveECFR?gp=&SID=8edfd12967...
- ojbyrne 6y agoAlso if you're married, joint income of $300k. For 2 people working in Silicon Valley, that's easily achievable.
- deleted 6y ago[deleted]
- desdiv 6y agoYou can also pay a few hundred dollars to take the Series 65 license exam and obtain accredited investor status through certification.
- yibg 6y agoNot sure how common but I know quite a few angel investors that have just been employees at tech companies. Most weren’t even at primarily FAANG companies. Realistically at least by SV income standards, it doesn’t take much to be an entry level angel investor.
- lend000 6y agoFrom my stint working in the bay area, it seems like tons of older low level executives at tech companies (probably bringing in comparable income to staff engineers at FAANG) treat angel investing like golf. Most of the wealthy folks will do it at least once as a social activity, but most of them don't really know what they're doing.
- chii 6y agoit's like buying a lottery ticket - good if you win, doesn't hurt if you lose.