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All this stopped not because of any class action, but one company Meta will not play along with the cabal. Zuck raised the salary so much he started poaching le

All this stopped not because of any class action, but one company Meta will not play along with the cabal. Zuck raised the salary so much he started poaching left and right from other tech giants. Google and Apple had no choice but to match the salaries to retain and hire top talent. For all the fault of Meta, they knew the worth of employees and have always tried to give them a good bargain.

paxys 4y ago
Umm no the practice stopped because of antitrust action against these companies by the DoJ. See https://en.wikipedia.org/wiki/High-Tech_Employee_Antitrust_Litigation https://en.wikipedia.org/wiki/High-Tech_Employee_Antitrust_L....
umbs 4y ago
Netflix also played a huge role in raising salary bar. Anecdote: In 2008, I was working at Ericsson in San Jose, as a junior software engineer on edge routers. I was paid ~$140K (bonus + RSU). We heard that very senior engineers were paid around $180K. Cisco was sought after place in our industry (Networking). They would pay ~$225K for senior engineers. (all numbers are unverified and rumors). Then one of my peer at Ericsson, a junior engineer, had an offer from Netflix and told during lunch break, his total comp was $250K, all cash (no RSU). I can still remember the gasps that followed. I have read the book "No Rules Rules. Netflix and the Culture of Reinvention" [0]. It's fascinating the number of times Netflix pivoted and rewrote many rules. They discuss their philosophy on compensation in the book. They played important role in raising the salary bar. [0] https://www.amazon.com/No-Rules-Netflix-Culture-Reinvention-ebook/dp/B081Y3R657/ref=sr_1_1?crid=20M4J0OHIXJJB&keywords=no+rules+rules+netflix+and+the+culture+of+reinvention&qid=1672727377&sprefix=no+rule%2Caps%2C357&sr=8-1 https://www.amazon.com/No-Rules-Netflix-Culture-Reinvention-...
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paxys 4y ago

Umm no the practice stopped because of antitrust action against these companies by the DoJ. See https://en.wikipedia.org/wiki/High-Tech_Employee_Antitrust_Litigation https://en.wikipedia.org/wiki/High-Tech_Employee_Antitrust_L....

umbs 4y ago

Netflix also played a huge role in raising salary bar. Anecdote: In 2008, I was working at Ericsson in San Jose, as a junior software engineer on edge routers. I was paid ~$140K (bonus + RSU). We heard that very senior engineers were paid around $180K. Cisco was sought after place in our industry (Networking). They would pay ~$225K for senior engineers. (all numbers are unverified and rumors). Then one of my peer at Ericsson, a junior engineer, had an offer from Netflix and told during lunch break, his total comp was $250K, all cash (no RSU). I can still remember the gasps that followed. I have read the book "No Rules Rules. Netflix and the Culture of Reinvention" [0]. It's fascinating the number of times Netflix pivoted and rewrote many rules. They discuss their philosophy on compensation in the book. They played important role in raising the salary bar. [0] https://www.amazon.com/No-Rules-Netflix-Culture-Reinvention-ebook/dp/B081Y3R657/ref=sr_1_1?crid=20M4J0OHIXJJB&keywords=no+rules+rules+netflix+and+the+culture+of+reinvention&qid=1672727377&sprefix=no+rule%2Caps%2C357&sr=8-1 https://www.amazon.com/No-Rules-Netflix-Culture-Reinvention-...

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