4 ms·

The traditional view is that young engineers should join startups in hope of a massive payoff if one goes big, but working for 10 years at BigCo with good salar

The traditional view is that young engineers should join startups in hope of a massive payoff if one goes big, but working for 10 years at BigCo with good salary and stock plans can set you up for life without any risk. One path to avoid is the one I took which was to work at a big tech co as a contractor. Good rates but nothing to show for it after 10 years other than the experience and whatever I had put in my 401K.

AlotOfReading 2y ago
Another path to avoid is working "W2" for a BigCo via a contractor. You don't get any of the security or compensation, and you may not even get the benefit of the name for your resume.
I_AM_A_SMURF 2y ago
I don't know that sounds very optimistic. I'm 10 in tech and L6 now. I'm definitely not set for life, like, not even close.
- wnolens 2y ago
  In big tech? One can pocket an avg 100k/year. Less in first few years, more later on. That isn't "quit immediately and coast" money, but several times a juicy down payment in the bank and a guaranteed MINIMUM 200k USD/year for the rest of your life IS set for life IMO.
  - spacemadness 2y ago
    It is not several times a juicy down payment if you live where near any big campus. And a lifetime salary above 200k in tech is not a thing. Tech is riskier the older you get unfortunately.
    - saagarjha 2y ago
      Uh, it very much is? Sure, there is age discrimination, but there are plenty of people in their 50s and 60s making well north of that.
- elevatedastalt 2y ago
  The key is to move out of the bay area as soon as you have a 2M net worth.
  - dave333 2y ago
    This is the other mistake I made - not moving away - now I have grandkids here and have to stay - tough life I know :-)
- dave333 2y ago
  A compromise would be joining a Unicorn that is post IPO but is hiring like crazy and growing fast. Hang onto the company stock rather than diversifying into index funds hoping it will grow much faster than average/split etc. No risk and big rewards.

AlotOfReading 2y ago

Another path to avoid is working "W2" for a BigCo via a contractor. You don't get any of the security or compensation, and you may not even get the benefit of the name for your resume.

I_AM_A_SMURF 2y ago

I don't know that sounds very optimistic. I'm 10 in tech and L6 now. I'm definitely not set for life, like, not even close.

wnolens 2y ago
In big tech? One can pocket an avg 100k/year. Less in first few years, more later on. That isn't "quit immediately and coast" money, but several times a juicy down payment in the bank and a guaranteed MINIMUM 200k USD/year for the rest of your life IS set for life IMO.
- spacemadness 2y ago
  It is not several times a juicy down payment if you live where near any big campus. And a lifetime salary above 200k in tech is not a thing. Tech is riskier the older you get unfortunately.
  - saagarjha 2y ago
    Uh, it very much is? Sure, there is age discrimination, but there are plenty of people in their 50s and 60s making well north of that.
elevatedastalt 2y ago
The key is to move out of the bay area as soon as you have a 2M net worth.
- dave333 2y ago
  This is the other mistake I made - not moving away - now I have grandkids here and have to stay - tough life I know :-)
dave333 2y ago
A compromise would be joining a Unicorn that is post IPO but is hiring like crazy and growing fast. Hang onto the company stock rather than diversifying into index funds hoping it will grow much faster than average/split etc. No risk and big rewards.