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"everyday life it’s still very prestigious place to be working at. Getting a mortgage or a car loan is easy, saying you work for Facebook gets you on the fast l

"everyday life it’s still very prestigious place to be working at. Getting a mortgage or a car loan is easy, saying you work for Facebook gets you on the fast line." I once felt that way but after leaving FAANG years later, I realized how snobby something like this would sound.

hiptobecubic 5y ago
Doesn't make it wrong, though.
- dymk 5y ago
  It is wrong. They care about the number on your paystub, not the company name.
  - AlexCoventry 5y ago
    Surely they take the stability of your job into account.
    - dymk 5y ago
      Credit scores are based on how good you are at paying off your debits, and how consistent your paycheck is. They care about the numbers, not the names.
- jumelles 5y ago
  It is 100% wrong.
CapmCrackaWaka 5y ago
I’m not sure what this means. Getting a mortgage and a car loan was easy, a car loan approval took no time at all. Does working at FAANG speed this process up somehow?
- bradly 5y ago
  No. Nobody cares about the specific company when you are getting a loan.
  - mattnewton 5y ago
    That was not my experience - see my sister comment. Some companies advertise explicit perks to FAANG employees hoping to win their business, including things like waving fees. I don't know if they would have negotiated the rate down anyways but I was quoted at a better mortgage rate in part because of my employment.
    - bradly 5y ago
      Interesting. Different than my experience, but I was FAANG in Southern California, not the Bay Area. We did have partners with all sorts of companies for discounts, so I would be surprised that there were discounts available, but it wasn’t like when you give your employee information when getting a loan they would do anything different. Now the travel perks were just being at FAANG we quite-nice and I miss those.
- rsynnott 5y ago
  I’m not sure how it would, at least these days. Mortgage underwriting is, I gather, pretty formulaic now. There was a time where it was an advantage if the branch manager approved of you, but particularly after the last crash, banks started getting a bit worried about that approach.
- mattnewton 5y ago
  At my FAANG company / Bank, in addition to just the paystubs being nice, it also did come with actual benefits including a lower rate on mortgage offers. I have no idea if they would extend them to anyone if pressed, but these kinds of offers tied to the company do exist.
hellotheremr 5y ago
Whenever I see a post talk about prestige, especially with a capital P, I can't help but think about Blind polls and prestigehunt. There's something about the word I can't take seriously...
hiq 5y ago
> a car loan Is it normal for a software engineer (or anybody who could afford it after saving for a few months) to get a loan to buy a car in the US? Is it worth it financially? Or is it to improve credit scores, maybe?
- klohto 5y ago
  Money’s cheap. Why wouldn’t you take a low interest loan and invest the leftover money yourself? Car is the worst investment you can do anyway.
  - hiq 5y ago
    Ok, so the interests are so low that it does make sense financially? I often see ads for such loans that seem less advantageous than just saving and buying it cash, so I thought it was mostly for people who could not save fast enough.

hiptobecubic 5y ago

Doesn't make it wrong, though.

dymk 5y ago
It is wrong. They care about the number on your paystub, not the company name.
- AlexCoventry 5y ago
  Surely they take the stability of your job into account.
  - dymk 5y ago
    Credit scores are based on how good you are at paying off your debits, and how consistent your paycheck is. They care about the numbers, not the names.
jumelles 5y ago
It is 100% wrong.

CapmCrackaWaka 5y ago

I’m not sure what this means. Getting a mortgage and a car loan was easy, a car loan approval took no time at all. Does working at FAANG speed this process up somehow?

bradly 5y ago
No. Nobody cares about the specific company when you are getting a loan.
- mattnewton 5y ago
  That was not my experience - see my sister comment. Some companies advertise explicit perks to FAANG employees hoping to win their business, including things like waving fees. I don't know if they would have negotiated the rate down anyways but I was quoted at a better mortgage rate in part because of my employment.
  - bradly 5y ago
    Interesting. Different than my experience, but I was FAANG in Southern California, not the Bay Area. We did have partners with all sorts of companies for discounts, so I would be surprised that there were discounts available, but it wasn’t like when you give your employee information when getting a loan they would do anything different. Now the travel perks were just being at FAANG we quite-nice and I miss those.
rsynnott 5y ago
I’m not sure how it would, at least these days. Mortgage underwriting is, I gather, pretty formulaic now. There was a time where it was an advantage if the branch manager approved of you, but particularly after the last crash, banks started getting a bit worried about that approach.
mattnewton 5y ago
At my FAANG company / Bank, in addition to just the paystubs being nice, it also did come with actual benefits including a lower rate on mortgage offers. I have no idea if they would extend them to anyone if pressed, but these kinds of offers tied to the company do exist.

hellotheremr 5y ago

Whenever I see a post talk about prestige, especially with a capital P, I can't help but think about Blind polls and prestigehunt. There's something about the word I can't take seriously...

hiq 5y ago

> a car loan Is it normal for a software engineer (or anybody who could afford it after saving for a few months) to get a loan to buy a car in the US? Is it worth it financially? Or is it to improve credit scores, maybe?

klohto 5y ago
Money’s cheap. Why wouldn’t you take a low interest loan and invest the leftover money yourself? Car is the worst investment you can do anyway.
- hiq 5y ago
  Ok, so the interests are so low that it does make sense financially? I often see ads for such loans that seem less advantageous than just saving and buying it cash, so I thought it was mostly for people who could not save fast enough.