My understanding from people there is that there’s also a sort of compensation cliff risk on year 3 for new joiners. Due to the way the stock grants & vesting

My understanding from people there is that there’s also a sort of compensation cliff risk on year 3 for new joiners. Due to the way the stock grants & vesting work, you get some fixed cash component in years 1-2-3 to offset, which goes away on the assumption you can start selling your shares now that they’ve vested. Further, as the stock was going up, there were downward adjustments to the number of shares granted after year 3 (since the dollar value was higher and put you “out of band”) if you hadn’t been promoted in time. Somehow I am doubtful there has been a equal adjustment to number of shares upwards as dollar value in 2022 has gone down. So it created a cycle of people coming in, working 3 years, then sitting out 6+ months so they could reset with a new offer all over again with the higher cash component plus negotiating their new stock grants...