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It definitely is not. The 99.999% case for startups is you walk away with nothing, and that’s true even if you’re good enough to crush it at FAANG. Crush it at
by ethanbond 4y ago
It definitely is not. The 99.999% case for startups is you walk away with nothing, and that’s true even if you’re good enough to crush it at FAANG.
Crush it at FAANG for a few years and don’t spend like crazy and you’ll be a multimillionaire.
- speakfreely 4y agoThe definition of multimillionaire is a bit vague here, but I would assume the OP was referring to being in deca-millionaire territory. That is much more rare to accomplish at a FAANG company.
- xvector 4y agoThe average SWE at FAANG can become a deca-millionaire over the course of 20-25 working years. Starting from $0, this requires saving $125k a year for 21 years to reach $10.06M at an 11.88% interest rate, which is the S&P500 average. Well within the capability of any senior SWE @ FAANG, and it only takes 4 years to get to senior. But then capital gains taxes hit. Anyways, yes, a startup employee on the other hand can become a deca-millionaire in a year or two.
- airstrike 4y agoAlso the S&P average is more like 7%. But those SWEs also are issued stock compensation which can accelerate those savings meaningfully