I was wondering how do people manage the Cliff Year at Amazon. Especially folks that receive a significant bonus in Year 1 and Year 2? Being reduced down to 160k or 185k must change some habits? Do you just wait 6 months when RSU's kick out to pay down or buy big purchase items and just have the monthly pay focused on bills and miscellaneous stuff like home items, small trips, and groceries?
I’m fiscally responsible and therefore I don’t notice any impact
Cost of living where I live is cheap and my spending yearly is fine at 160k just wanted to get some experience pointers and best practices from people that had to go through this process before as it is pretty unique to Amazon.
When you’ve worked enough years and have many RSU’s vested, provided you sell you will have lotsa 💸💸
I thought the same, some people I know just buy a car with stock and ignore getting a loan. Something I will have to get used to but helps me save in the long run.
How is the total compensation after the cliff year? Does Amazon make sure that you keep the same total TC? Or you would experience a drop in the total annual TC?
They make sure your TCT is higher if you perform well. TCT != TC, TC factors in variable stock price.
@Yolo! - what's TCT?! And did you mean to imply that if you're a good performer then you will get RSU refreshers during the first 4 years which will push your comp higher?!
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Most people have spending habits that are more than sustainable with 160k or 185k... what kind of bug purchases are you making?