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My companies stock has fallen nearly 50% from it's peak this year. Leadership originally told me they wouldn't do anything when I pointed out average rent (I am
by kodah 4y ago
My companies stock has fallen nearly 50% from it's peak this year. Leadership originally told me they wouldn't do anything when I pointed out average rent (I am single) was rising over half my paycheck and that my stocks had fallen greatly. I went all the way to HR with it, even demonstrating that under these conditions their new target software engineer was required to be married to another high income earner in both the Bay and San Diego. HR could do nothing. Eventually we had a town hall with hundreds of complaints, sometime later the CEO sent out an email saying they were raising our salaries 20% (which is still nowhere near market) across the entire company rather than addressing issues in specific markets. I'm turning in my notice after my bonus period and accepted a position with a substantial increase in base, stocks, and bonus pool. The position is also remote, which is another thing my current company told me will never happen.
- cbo100 4y agoIsn't that the gamble of choosing a position where such a large proportion of your income is based on a volatile stock price? If you want protection from the company on the downside would you accept the company setting a maximum on the upside?
- deleted 4y ago[deleted]
- WA 4y agoGoes both ways. It is also a gamble by the company. They give employees stock and let the market pay for the salary instead of paying huge salaries in cash.
- kodah 4y agoMy yearly RSUs are big, but I set my base salary up to cover all of my expenses and give me spending money. RSUs go straight into investment vehicles after they reach maturity. That's to say, I don't depend that much on stocks, but they are the critical path to getting a house in this market, which is also the critical path to lowering most of my expenses.
- bradlys 4y agoTo be fair here - you’re not paid based on how much your local environment costs. You’re paid based on what a company think it can get away with paying you.
- kodah 4y agoEven more true than you may know! During this process I learned that my company establishes salaries, not based on COL or an hourly average, but an average of what they're competitors (aka "peers") are paying.