5 ms·

The operator of the Uniqlo chain of casual apparel stores will pay midcareer hires up to 1 billion yen ($8.8 million) a year I don't see any possibility that t

by vanusa 5y ago

The operator of the Uniqlo chain of casual apparel stores will pay midcareer hires up to 1 billion yen ($8.8 million) a year I don't see any possibility that this is accurate as reported.

Victerius 5y ago
You could work for 6 months and then retire for the rest of your life. Extremely low and high wages drive people away, but for different reasons.
- sharkweek 5y ago
  I hope to one day fall so far upward that I end up in a multimillion dollar a year role that I can flail through for a year (maybe two) then call it a day.
  - effingwewt 5y ago
    Yea, CEO's and their golden parachutes. They make 8000% of the median worker income, and whether the company succeeds or fails they rake in millions. When the company is successful all credit goes to the CEO, and when they fail blame goes to everyone else as the CEO takes time to be with family with their golden parachute worth millions. The era of the cult of CEO needs to end, it's become grotesque.
varelse 5y ago
- bidirectional 5y ago
  Ilya Suskever is not just an employee, they're C-suite and notable enough to have a Wikipedia page. Obviously people earn millions per year, but they're generally pretty notable and rare.
- mabbo 5y ago
  This is HN. You'll get more downvotes for complaining about downvotes than you will for saying something people disagree with.
  - varelse 5y ago
    - whimsicalism 5y ago
      You're just asked to follow a few basic guidelines [0]. Not so much about being "inflammatory." [0]: https://news.ycombinator.com/newsguidelines.html https://news.ycombinator.com/newsguidelines.html
- gzer0 5y ago
  For the vast majority of humans, these salaries are simply not obtainable, at all. These kind of reports are great for one thing- wishful thinking. To assume that everyone is making or will make the top 0.1% of the top 1% in salaried income is completely absurd. Maybe the one off rockstar engineer is making this, but for the average techbro this is not going to happen.
  - varelse 5y ago
- whimsicalism 5y ago
  You're shadow boxing an opponent that doesn't exist. Ilya Suskever is not a "mid-level" (as per the article) employee, he is a C-suite level employee at a tech venture. Implying that uniqlo is using "$8.8m salaries to draw talent" implies that those salaries are broadly available to "mid-level" employees. This is extremely implausible to me, given that that level of compensation (4x more than the C-suite employee you identified) is on par or larger than CEOs of some of the largest banks in the world.
  - varelse 5y ago
- pwncake 5y ago
  down votes? Sir, you're in a hacker news forum.
  - varelse 5y ago
- kadoban 5y ago
  Salaries like these are a stunt in the _vast_ majority of cases. There's so few people that could ever be worth that kind of money that it's pretty clearly just the PR department throwing this at the wall for news. Blatant attention grabs don't often get praise from engineers.
  - deleted 5y ago
    [deleted]
  - varelse 5y ago
    In tech, engineers that aren't paying at least some attention to the compensation of their peers will not fare well IMO. No one wants you to undervalue yourself more than the org underpaying you to undervalue yourself. I'm for open compensation personally, but since we can't have that lest there be madness or something, make sure your grass is sufficiently watered to remain green.
- adam_arthur 5y ago
  It's moreso just a logical conclusion. It's possible that a company could pay this much. But likely they could pay half this amount and still get same talent. In a free market with logical players, makes 0 sense to pay 3-4x the highest competitor in wages, when you could pay 25-50% more and get the same talent. Of course that's just the theory. Companies can pay whatever they want in reality.
  - varelse 5y ago
    Raising the ceiling on compensation for exceptional talent seems like good business strategy to me. This is a great time to understand technology as we become a science-hating culture completely addicted to science and technology to survive. Milk it for all it's worth no matter what your skill level. If your boss can afford to buy bottled farts from reality stars and Bored Ape NFTs they can afford to pay you more.
sethev 5y ago
I think the headline is misleading. If you read the article, it sounds like they've increased the salary cap. It seems like a leap to assume they're offering anyone salaries at that cap. The CEO isn't getting paid this amount.
kadoban 5y ago
My guess would be that "up to" is carrying all of the weight of that sentence.
- tootie 5y ago
  $100K salary and 880000% bonus potential
whimsicalism 5y ago
- kreid1 5y ago
  agreed
sockpuppet69 5y ago

by vanusa 5y ago

The operator of the Uniqlo chain of casual apparel stores will pay midcareer hires up to 1 billion yen ($8.8 million) a year I don't see any possibility that this is accurate as reported.

Victerius 5y ago

You could work for 6 months and then retire for the rest of your life. Extremely low and high wages drive people away, but for different reasons.

sharkweek 5y ago
I hope to one day fall so far upward that I end up in a multimillion dollar a year role that I can flail through for a year (maybe two) then call it a day.
- effingwewt 5y ago
  Yea, CEO's and their golden parachutes. They make 8000% of the median worker income, and whether the company succeeds or fails they rake in millions. When the company is successful all credit goes to the CEO, and when they fail blame goes to everyone else as the CEO takes time to be with family with their golden parachute worth millions. The era of the cult of CEO needs to end, it's become grotesque.

varelse 5y ago

bidirectional 5y ago
Ilya Suskever is not just an employee, they're C-suite and notable enough to have a Wikipedia page. Obviously people earn millions per year, but they're generally pretty notable and rare.
mabbo 5y ago
This is HN. You'll get more downvotes for complaining about downvotes than you will for saying something people disagree with.
- varelse 5y ago
  - whimsicalism 5y ago
    You're just asked to follow a few basic guidelines [0]. Not so much about being "inflammatory." [0]: https://news.ycombinator.com/newsguidelines.html https://news.ycombinator.com/newsguidelines.html
gzer0 5y ago
For the vast majority of humans, these salaries are simply not obtainable, at all. These kind of reports are great for one thing- wishful thinking. To assume that everyone is making or will make the top 0.1% of the top 1% in salaried income is completely absurd. Maybe the one off rockstar engineer is making this, but for the average techbro this is not going to happen.
- varelse 5y ago
whimsicalism 5y ago
You're shadow boxing an opponent that doesn't exist. Ilya Suskever is not a "mid-level" (as per the article) employee, he is a C-suite level employee at a tech venture. Implying that uniqlo is using "$8.8m salaries to draw talent" implies that those salaries are broadly available to "mid-level" employees. This is extremely implausible to me, given that that level of compensation (4x more than the C-suite employee you identified) is on par or larger than CEOs of some of the largest banks in the world.
- varelse 5y ago
pwncake 5y ago
down votes? Sir, you're in a hacker news forum.
- varelse 5y ago
kadoban 5y ago
Salaries like these are a stunt in the _vast_ majority of cases. There's so few people that could ever be worth that kind of money that it's pretty clearly just the PR department throwing this at the wall for news. Blatant attention grabs don't often get praise from engineers.
- deleted 5y ago
  [deleted]
- varelse 5y ago
  In tech, engineers that aren't paying at least some attention to the compensation of their peers will not fare well IMO. No one wants you to undervalue yourself more than the org underpaying you to undervalue yourself. I'm for open compensation personally, but since we can't have that lest there be madness or something, make sure your grass is sufficiently watered to remain green.
adam_arthur 5y ago
It's moreso just a logical conclusion. It's possible that a company could pay this much. But likely they could pay half this amount and still get same talent. In a free market with logical players, makes 0 sense to pay 3-4x the highest competitor in wages, when you could pay 25-50% more and get the same talent. Of course that's just the theory. Companies can pay whatever they want in reality.
- varelse 5y ago
  Raising the ceiling on compensation for exceptional talent seems like good business strategy to me. This is a great time to understand technology as we become a science-hating culture completely addicted to science and technology to survive. Milk it for all it's worth no matter what your skill level. If your boss can afford to buy bottled farts from reality stars and Bored Ape NFTs they can afford to pay you more.

sethev 5y ago

I think the headline is misleading. If you read the article, it sounds like they've increased the salary cap. It seems like a leap to assume they're offering anyone salaries at that cap. The CEO isn't getting paid this amount.

kadoban 5y ago

My guess would be that "up to" is carrying all of the weight of that sentence.

tootie 5y ago
$100K salary and 880000% bonus potential

whimsicalism 5y ago

kreid1 5y ago
agreed

sockpuppet69 5y ago