4 ms·

Personally, I like your take - however “reasonable pay” generally defaults to “median pay”. A great employee who sticks it out for “median” pay, might be selli

by lumost 4y ago

Personally, I like your take - however “reasonable pay” generally defaults to “median pay”. A great employee who sticks it out for “median” pay, might be selling themselves short, but this can be made up for with a reasonable boss and team you like working with. Netflix effectively pays the “max pay” for all positions. Naturally, they do not have difficulty hiring with this philosophy - but it comes with the trade off that they either need a rediculous interview gauntlet or performance management process. They do a bit of both from what I understand.

donthellbanme 4y ago
Liking the place you spend more time in than your own living room matters. I have stuck with subpar pay because I liked my bosses, and didn't hate comming into work. I have quit high paying jobs, with union representation. (And yes--those bastards will eventually drag us all back. I thought Jamie Diamond's demand that if you want to work here show up to the office. Even Diamond retreated. Might be the only war he ever lost? Then again Diamond might be feeling less immortal? He had his aorta replaced a year ago, and is a survivor of throat cancer. I don't know why I'm writing so much about Diamond. Maybe--because if I had a do-over, I would have gone into finance, and hopefully retire early?)
- mjamil 4y ago
  Nit: Jamie Dimon (and not Diamond). Less of a nit: You apparently care about liking your workplace. Sample size of 1, but I know of (a) no-one who went into finance who enjoyed their tenure; and (b) plenty of folks that retired early from their tech careers and none from their finance careers. (Most have moved from i-banking to PE or VC, but they’re still slogging away.)
  - deleted 4y ago
    [deleted]
  - astrange 4y ago
    Before they pay you a lot in finance, they probably do a better job making sure your expenses grow with it so you can’t retire on them.
- nuclearnice3 4y ago
  > Might be the only war he ever lost? He was fired from Citigroup in 1998 by Sandy Weil, who he had worked with for 15 years. So there's that.
thatfrenchguy 4y ago
Netflix doesn’t pay max pay though, they pay «5-6 year of experience at a FAANG » in cash according to levels.fyi. This does not compensate for the layoff risk in any meaningful way.
- trunnell 4y ago
  Former Netflix manager here. Netflix frequently competes for L6/L7 talent against Google, Apple, and FB -- and wins. Look at the detail view on levels.fyi and sort by compensation. They pay extremely well for the best talent. But that's not really the point. Your job safety is ultimately about whether other companies would hire you. And if you're good enough to get a role at Netflix, then you can get another job extremely quickly here in the valley. Most top recruiters know that Netflix is very selective. I have yet to see anyone who was let go at Netflix struggle to get another job. They usually get multiple offers, in fact.
  - throwaway_1928 4y ago
    But to have an axe constantly dangling over your head is no way to live. If you are competent, better to choose a more dignified existence along with high pay. And with Netflix stock down 72% in 6 months, the choice becomes even easier.
    - pedrosorio 4y ago
      > But to have an axe constantly dangling over your head is no way to live. If you are competent, better to choose a more dignified existence And yet, you often hear of Google's rest and vest culture and how bored people are in that environment. Some people might prefer an all-around high achiever culture, at certain points in their careers. > And with Netflix stock down 72% in 6 months Given Netflix's compensation structure (all cash) this is irrelevant unless you believe the market valuation indicates the company is doomed in the short term.
      - throwaway_1928 4y ago
hintymad 4y ago
> Naturally, they do not have difficulty hiring with this philosophy - This is a common conception. Netflix's option plan is extremely generous. Per this link (https://www.teamblind.com/post/Netflix-is-a-truly-great-company-KyCWi7vU https://www.teamblind.com/post/Netflix-is-a-truly-great-comp...), a Netflix employ would lose monly only if its stock price always goes down: "Netflix is generous in giving you options. Its option plan was the best in the world. It allows you to forfeit your salary for options. The options had 5X of discount, and later 2.5 times. The company also gave you for free options that is worth 5% of your total salary. Your options vest every month. And of course, the options will not expire until 10 years later. That is, Netflix does NOT even tries to use delayed vesting schedule to retain you. "
- hintymad 4y ago
  *misconception

by lumost 4y ago

donthellbanme 4y ago

Liking the place you spend more time in than your own living room matters. I have stuck with subpar pay because I liked my bosses, and didn't hate comming into work. I have quit high paying jobs, with union representation. (And yes--those bastards will eventually drag us all back. I thought Jamie Diamond's demand that if you want to work here show up to the office. Even Diamond retreated. Might be the only war he ever lost? Then again Diamond might be feeling less immortal? He had his aorta replaced a year ago, and is a survivor of throat cancer. I don't know why I'm writing so much about Diamond. Maybe--because if I had a do-over, I would have gone into finance, and hopefully retire early?)

mjamil 4y ago
Nit: Jamie Dimon (and not Diamond). Less of a nit: You apparently care about liking your workplace. Sample size of 1, but I know of (a) no-one who went into finance who enjoyed their tenure; and (b) plenty of folks that retired early from their tech careers and none from their finance careers. (Most have moved from i-banking to PE or VC, but they’re still slogging away.)
- deleted 4y ago
  [deleted]
- astrange 4y ago
  Before they pay you a lot in finance, they probably do a better job making sure your expenses grow with it so you can’t retire on them.
nuclearnice3 4y ago
> Might be the only war he ever lost? He was fired from Citigroup in 1998 by Sandy Weil, who he had worked with for 15 years. So there's that.

thatfrenchguy 4y ago

Netflix doesn’t pay max pay though, they pay «5-6 year of experience at a FAANG » in cash according to levels.fyi. This does not compensate for the layoff risk in any meaningful way.

trunnell 4y ago
Former Netflix manager here. Netflix frequently competes for L6/L7 talent against Google, Apple, and FB -- and wins. Look at the detail view on levels.fyi and sort by compensation. They pay extremely well for the best talent. But that's not really the point. Your job safety is ultimately about whether other companies would hire you. And if you're good enough to get a role at Netflix, then you can get another job extremely quickly here in the valley. Most top recruiters know that Netflix is very selective. I have yet to see anyone who was let go at Netflix struggle to get another job. They usually get multiple offers, in fact.
- throwaway_1928 4y ago
  But to have an axe constantly dangling over your head is no way to live. If you are competent, better to choose a more dignified existence along with high pay. And with Netflix stock down 72% in 6 months, the choice becomes even easier.
  - pedrosorio 4y ago
    > But to have an axe constantly dangling over your head is no way to live. If you are competent, better to choose a more dignified existence And yet, you often hear of Google's rest and vest culture and how bored people are in that environment. Some people might prefer an all-around high achiever culture, at certain points in their careers. > And with Netflix stock down 72% in 6 months Given Netflix's compensation structure (all cash) this is irrelevant unless you believe the market valuation indicates the company is doomed in the short term.
    - throwaway_1928 4y ago

hintymad 4y ago

> Naturally, they do not have difficulty hiring with this philosophy - This is a common conception. Netflix's option plan is extremely generous. Per this link (https://www.teamblind.com/post/Netflix-is-a-truly-great-company-KyCWi7vU https://www.teamblind.com/post/Netflix-is-a-truly-great-comp...), a Netflix employ would lose monly only if its stock price always goes down: "Netflix is generous in giving you options. Its option plan was the best in the world. It allows you to forfeit your salary for options. The options had 5X of discount, and later 2.5 times. The company also gave you for free options that is worth 5% of your total salary. Your options vest every month. And of course, the options will not expire until 10 years later. That is, Netflix does NOT even tries to use delayed vesting schedule to retain you. "

hintymad 4y ago
*misconception