5 ms·

Even if I liked the job I would take it. Six months paid holiday would be too good to pass up.

swyx 5y ago
depends. it (used to be) a tough job to get. i've heard vague indications that their profit sharing would have been extremely lucrative. but i dont know exact numbers. but just on a numbers basis if you made 1m a year profit sharing but a normal job outside you'd make 200k, you'd have to really hate working there to quit purely for the 6month payout.
- void_mint 5y ago
  Eh. This thread is about employees of 3+ years, in which case, even if the profit share is very lucrative, they've received that profit share 3+ times. On top of that, I doubt Basecamp pays poorly. If you're even vaguely burnt out or bored, 6 months off sounds like a dream.
  - deleted 5y ago
    [deleted]
  - jrochkind1 5y ago
    I believe the profit-sharing plan is new, announced as part of these "changes". > In addition, we recently introduced a 10% profit sharing plan If so, it's hard to say for sure how lucrative it would be either, especially if you aren't privy to the details of what they say they are offering. But if so, nobody's gotten it already, you'd have to stay to get it. https://world.hey.com/jason/changes-at-basecamp-7f32afc5 https://world.hey.com/jason/changes-at-basecamp-7f32afc5
  - mr_ndrsn 5y ago
    Profit sharing was paid out for the first time in 2021-01.
    - void_mint 5y ago
      Good to know. Thank you!
baron816 5y ago
Yeah, let’s say your salary was $200k. They give you $100k immediately, you turn around and find another job after a month off at $190k—that means you’re making about $273k this year.
- deleted 5y ago
  [deleted]
- francisofascii 5y ago
  It depends on the terms, is it a lump sum? Or would the paychecks end when you get the new job?
  - stock_toaster 5y ago
    Severance (or "buy-out"), is typically (in my experience) a one time lump sum event.
  - deleted 5y ago
    [deleted]
  - iainmerrick 5y ago
    Why would they end? What business is it of theirs?
- rufus_foreman 5y ago
  $273k means you would be hitting the top marginal federal income tax rate and also the net investment income tax. If you are in a state with high state income tax rates, your additional $100k nets you $50k. Of which maybe $10k goes to replace the post-tax income you lost for the month you spent looking for a job. $40k in the bank is a nice bonus, but I wouldn't quit a job I liked for it.
  - madeofpalk 5y ago
    Also getting a new job is a pain. I don't like doing it. It reminds me of people flippantly declaring "just sue!" as if it's an easy or pleasant thing to do.

swyx 5y ago

depends. it (used to be) a tough job to get. i've heard vague indications that their profit sharing would have been extremely lucrative. but i dont know exact numbers. but just on a numbers basis if you made 1m a year profit sharing but a normal job outside you'd make 200k, you'd have to really hate working there to quit purely for the 6month payout.

void_mint 5y ago
Eh. This thread is about employees of 3+ years, in which case, even if the profit share is very lucrative, they've received that profit share 3+ times. On top of that, I doubt Basecamp pays poorly. If you're even vaguely burnt out or bored, 6 months off sounds like a dream.
- deleted 5y ago
  [deleted]
- jrochkind1 5y ago
  I believe the profit-sharing plan is new, announced as part of these "changes". > In addition, we recently introduced a 10% profit sharing plan If so, it's hard to say for sure how lucrative it would be either, especially if you aren't privy to the details of what they say they are offering. But if so, nobody's gotten it already, you'd have to stay to get it. https://world.hey.com/jason/changes-at-basecamp-7f32afc5 https://world.hey.com/jason/changes-at-basecamp-7f32afc5
- mr_ndrsn 5y ago
  Profit sharing was paid out for the first time in 2021-01.
  - void_mint 5y ago
    Good to know. Thank you!

baron816 5y ago

Yeah, let’s say your salary was $200k. They give you $100k immediately, you turn around and find another job after a month off at $190k—that means you’re making about $273k this year.

deleted 5y ago
[deleted]
francisofascii 5y ago
It depends on the terms, is it a lump sum? Or would the paychecks end when you get the new job?
- stock_toaster 5y ago
  Severance (or "buy-out"), is typically (in my experience) a one time lump sum event.
- deleted 5y ago
  [deleted]
- iainmerrick 5y ago
  Why would they end? What business is it of theirs?
rufus_foreman 5y ago
$273k means you would be hitting the top marginal federal income tax rate and also the net investment income tax. If you are in a state with high state income tax rates, your additional $100k nets you $50k. Of which maybe $10k goes to replace the post-tax income you lost for the month you spent looking for a job. $40k in the bank is a nice bonus, but I wouldn't quit a job I liked for it.
- madeofpalk 5y ago
  Also getting a new job is a pain. I don't like doing it. It reminds me of people flippantly declaring "just sue!" as if it's an easy or pleasant thing to do.