4 ms·

Do you know how much money $175kUSD is to a lot of people?

oxidethrowaway 5y ago
Yes! Of course it is, but employment is a market like anything else. The difference between $175K and market rate compensation (which may be significantly higher right now, considering the job market and the skills they’re asking for) is captured entirely by the founders and investors. We shouldn’t be shaming people for expecting a higher portion of the value they create in a competitive market like this. But the fixed salary method creates a lot of secondary problems for a company: It can become a revolving door as people join for quick experience and resume-building, but then leave as soon as they can get a higher paying job somewhere else.
- nextaccountic 5y ago
  > The difference between $175K and market rate compensation (which may be significantly higher right now, considering the job market and the skills they’re asking for) is captured entirely by the founders and investors Why wouldn't some % of this be captured by your teammates?
  - oxidethrowaway 5y ago
    That’s why I asked about equity. If they’re giving significant equity then I have no problems with the $175K compensation limit. One of my favorite employers right out of college did almost exactly this same thing: Everyone gets paid the same (although they had a couple tiers) and a lot of talk about how we’re all equal. I believed it, until the acquisition event and I realized that the founders and early team members literally had 100-1000X or more as much equity than I did. All of the talk about paying everyone the same suddenly seemed like a cruel joke.
deleted 5y ago
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hinkley 5y ago
Also it looks like they did a 3% inflation bump in the last month, as it now says $180,250 on their careers page. Another 10% salary makes a much bigger difference when your finances are out of control. Once you are living below your means it moves your retirement date around. It's not enough to move your Fuck You, I'm Moving to Tuscany date by an appreciable amount.
- steveklabnik 5y ago
  (The bump was done nine months ago, it even talks about it in the linked post itself.)
  - hinkley 5y ago
    Did that make it onto the careers page at the same time?
    - steveklabnik 5y ago
      I don't remember to be honest. I would hope so!
      - hinkley 5y ago
        I feel like I looked a month ago and it was still a round number. Happy to be wrong though.
        Twisol 5y ago
        I applied within the last few months, and would swear I had the idle thought that it wasn't a round number like it used to be. Berenstain Bears moment, maybe!

Yes! Of course it is, but employment is a market like anything else. The difference between $175K and market rate compensation (which may be significantly higher right now, considering the job market and the skills they’re asking for) is captured entirely by the founders and investors. We shouldn’t be shaming people for expecting a higher portion of the value they create in a competitive market like this. But the fixed salary method creates a lot of secondary problems for a company: It can become a revolving door as people join for quick experience and resume-building, but then leave as soon as they can get a higher paying job somewhere else.

nextaccountic 5y ago
> The difference between $175K and market rate compensation (which may be significantly higher right now, considering the job market and the skills they’re asking for) is captured entirely by the founders and investors Why wouldn't some % of this be captured by your teammates?
- oxidethrowaway 5y ago
  That’s why I asked about equity. If they’re giving significant equity then I have no problems with the $175K compensation limit. One of my favorite employers right out of college did almost exactly this same thing: Everyone gets paid the same (although they had a couple tiers) and a lot of talk about how we’re all equal. I believed it, until the acquisition event and I realized that the founders and early team members literally had 100-1000X or more as much equity than I did. All of the talk about paying everyone the same suddenly seemed like a cruel joke.

deleted 5y ago

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hinkley 5y ago

Also it looks like they did a 3% inflation bump in the last month, as it now says $180,250 on their careers page. Another 10% salary makes a much bigger difference when your finances are out of control. Once you are living below your means it moves your retirement date around. It's not enough to move your Fuck You, I'm Moving to Tuscany date by an appreciable amount.

steveklabnik 5y ago
(The bump was done nine months ago, it even talks about it in the linked post itself.)
- hinkley 5y ago
  Did that make it onto the careers page at the same time?
  - steveklabnik 5y ago
    I don't remember to be honest. I would hope so!
    - hinkley 5y ago
      I feel like I looked a month ago and it was still a round number. Happy to be wrong though.
      - Twisol 5y ago
        I applied within the last few months, and would swear I had the idle thought that it wasn't a round number like it used to be. Berenstain Bears moment, maybe!