7 ms·
Wow, you aren't kidding when you say Netflix pays well!
by paxtonab 11y ago
Wow, you aren't kidding when you say Netflix pays well!
- _dark_matter_ 11y agoOh my god, $350k for a senior software engineer? I'm absolutely floored.
- whoiskevin 11y agoReally not that much when you take out the taxes, food and housing premium of the area. That is what should floor you as well
- untog 11y agoIt is still a lot of money.
- chucksmash 11y agoYou are utterly and completely incorrect. $30,000 a month is a fantastic salary. No ifs, ands or buts.
- rgawdzik 11y agoYes, considering that is the equivalent of a minimum wage yearly salary every two weeks.
- stefap2 11y agoMonthly Gross Pay $29,166.67 Federal Withholding $8,195.61 Social Security $1,808.33 Medicare $422.92 California $2,831.70 SDI $262.50 Net Monthly Pay $15,645.61
- frankc 11y agoit's better than that because social security tax will be capped four months in.
- raverbashing 11y ago5k can get you a nice place in SV (maybe even less) Even if you have kids you can probably save something like 5k/month, which is good.
- drewg123 11y agoIt is still pretty good. If you figure the housing premium between the Bay Area & a "normal" city is $1.5M vs $300K for roughly the same "middle class" house, then the monthly mortgage difference is about $5500, or about $66K/year. So that $350K is equivalent to $284K in a "normal" place. Even being really conservative, and figuring extra costs (private school tuition, because even that $1.5M might not be enough to get you good schools, extra CA taxes, higher insurance rates, etc), we're still at an equivalent of about $250K. And that's a lot better than most people could get in any "normal" metro area as a Software Engineer.
- Serow225 11y agoCompare them to Microsoft for equivalent-sounding positions in CA, interesting...
- drewg123 11y agoThat's not an unreasonable total compensation level for senior engineers in the bay area. Remember that Netflix does not typically offer bonuses, stock grants, etc, and just pays people a salary. While most other big tech companies (eg, Google) have salary as 1/2 to 3/4 of your total compensation, with the remainder being bonus and stock grants (or options). So in the Google table here, you will see far lower salaries than Netflix, just because at Netflix, your total comp is almost entirely salary. I suspect that the Google H1B's are getting stock grants and bonuses that will increase their compensation substantially. I'm not an H1B, but I'm speaking from experience. I'm a senior software engineer at Google, and I'm starting at Netflix in a few weeks. My total comp will be in the same ballpark at Netflix as my current total comp at Google, but will move from salary + bonuses + stock at Google to being almost entirely salary. I'm excited that I might actually be able to do my own taxes in the future.
- toephu2 11y agoIsn't it better the Google way? You will be taxed less since you can keep the stock for 1+ year and get taxed at the Long Term Capital Gains rate. Being almost all salary will get you taxed to death.
- drewg123 11y agoMy Google stock comes as RSUs (well, they call them "GSUs"), and it is taxed as if it were income as it vests.
- ryanobjc 11y agonot so because options and RSUs mean that until the vest you don't get ownership of the stock. So if you keep it for an ADDITIONAL year then you get taxed long term on the _additional gain_. Basically options and RSU = normal income
- adrr 11y agoOptions gets hit by AMT tax when you strike them(assuming your total income puts you into AMT). You're going to be screwed either with RSUs or options by taxes just little less with AMT.