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Is this really true? Seems to me like they get endless applications.

by throw1234651234 6y ago

geodel 6y ago
Exactly. It is an old scam. I am surprised otherwise smart engineers still fall for this.
- treis 6y ago
  Perhaps I'm dense, but what's the scam here?
  - TuringNYC 6y ago
    3,746 openings that supposedly cannot be filled. Except 100,000 people are applying and failing because in order to get the position, you need to pass a test with a 5% pass rate -- because you need to write and debug code on a whiteboard within 30 minutes. Oh, and once you get the position, you dont get all your comp, rather it is in stock that vests over time, and the stock can fall. Oh, and you also have to pay rent NOW (not when your stock vests.) Oh, and the rent is absurd. Oh, and you went to a top school got great grades and you're rewarded with a shitty 1br apartment because that is all your cash comp can buy you since you are limited to one or two cities.
    - hansvm 6y ago
      > rather it is in stock that vests over time, and the stock can fall At a public company the stock based compensation is nearly equivalent financially (ignoring taxes) to getting 4yrs of comp up front that for a period of time can only be used to invest in your employer. That exposes you to a lot of risk, but on average it results in higher pay since on average the markets are going up (not just in tech) and you're able to invest money you don't yet have (contrasted with, e.g., if stocks were awarded according to current market rate). That risk profile won't suit everyone, but it's not inherently bad. > you're rewarded with a shitty 1br apartment because that is all your cash comp can buy Rent isn't thaat high. A nice oceanfront 2br goes for $3k/mo including utilities. Plus, if you really wanted to dip into stock-based comp for rent, your signing bonus will more than cover the difference for the several months till your first grant. > because you need to write and debug code on a whiteboard within 30 minutes. Yeah, that can be pretty shitty. It works out for a lot of people, but I'm certain that process overlooks good engineers.
908B64B197 6y ago
They do. Sending a resume is free. Takes a few minutes to apply. It's not like applying to college where, to be competitive you have to write a personalized essay (and pay the application fees). "Johnny is soo good with computers, always repairing the wifi, he should go work at Microsoft.". Relevant: https://blog.codinghorror.com/why-cant-programmers-program/ https://blog.codinghorror.com/why-cant-programmers-program/

Is this really true? Seems to me like they get endless applications.

geodel 6y ago

Exactly. It is an old scam. I am surprised otherwise smart engineers still fall for this.

treis 6y ago
Perhaps I'm dense, but what's the scam here?
- TuringNYC 6y ago
  3,746 openings that supposedly cannot be filled. Except 100,000 people are applying and failing because in order to get the position, you need to pass a test with a 5% pass rate -- because you need to write and debug code on a whiteboard within 30 minutes. Oh, and once you get the position, you dont get all your comp, rather it is in stock that vests over time, and the stock can fall. Oh, and you also have to pay rent NOW (not when your stock vests.) Oh, and the rent is absurd. Oh, and you went to a top school got great grades and you're rewarded with a shitty 1br apartment because that is all your cash comp can buy you since you are limited to one or two cities.
  - hansvm 6y ago
    > rather it is in stock that vests over time, and the stock can fall At a public company the stock based compensation is nearly equivalent financially (ignoring taxes) to getting 4yrs of comp up front that for a period of time can only be used to invest in your employer. That exposes you to a lot of risk, but on average it results in higher pay since on average the markets are going up (not just in tech) and you're able to invest money you don't yet have (contrasted with, e.g., if stocks were awarded according to current market rate). That risk profile won't suit everyone, but it's not inherently bad. > you're rewarded with a shitty 1br apartment because that is all your cash comp can buy Rent isn't thaat high. A nice oceanfront 2br goes for $3k/mo including utilities. Plus, if you really wanted to dip into stock-based comp for rent, your signing bonus will more than cover the difference for the several months till your first grant. > because you need to write and debug code on a whiteboard within 30 minutes. Yeah, that can be pretty shitty. It works out for a lot of people, but I'm certain that process overlooks good engineers.

908B64B197 6y ago

They do. Sending a resume is free. Takes a few minutes to apply. It's not like applying to college where, to be competitive you have to write a personalized essay (and pay the application fees). "Johnny is soo good with computers, always repairing the wifi, he should go work at Microsoft.". Relevant: https://blog.codinghorror.com/why-cant-programmers-program/ https://blog.codinghorror.com/why-cant-programmers-program/