3 ms·
I will say - people here are not chronically underpaid. It depends a lot on how the stock is doing but a lot of people here are from pre-IPO. So, it's not uncom
by bradlys 5y ago
I will say - people here are not chronically underpaid. It depends a lot on how the stock is doing but a lot of people here are from pre-IPO. So, it's not uncommon for people to have a 7-figure TC. The company basically 50x'd its valuation in <3 years. So, even if you got a kinda not-so-great amount of stock back when you joined, you still are getting a ton of money.
For newer candidates such as myself who joined post-IPO, the pay is definitely nowhere near competitive for the level of effort. I'm making a good amount but I'd say it's closer to average-slightly-below for FAANG but it's also my first big name. I didn't have a competing offer to push that could push them to the top of the band or into the next level. My offer was for about $360K recurring TC (I have ~8years of xp). Now, it's worth like $330K because the market went down so hard but just a month ago... It was $450K. So, the stock is very tumultuous and frustrating to deal with. I wish I had joined a Google or something because my last company IPO'd but the stock tanked 75% since IPO. I've held the entire time and am wondering if this shit is gonna be a penny-stock now. I went from thinking I could buy a home in the next year or two to "well, I'm fucking nowhere and I spent nearly $100k on those options. FML."
A lot of my peers have been here before IPO and are putting up with the shit because they make so much money. A lot of people here are making crazy money even if they joined just a month before IPO because it 3x+ just before they listed. The people who are post-IPO (like myself) tend to put up with it because it's their first big name - although blind leads me to believe a lot of people quit... Just not from my immediate team. We'll see. I'm surprised no one has left on my team in the 6 months I've been here.
I'm in SV, obviously.