I’m currently an E4 at Facebook making around $295k/year. 5 YOE.
On a lark I interviewed at Snap, and they made me an L4 (their equivalent of FB/Google’s E5) offer for $465k/year total comp. It’s in their Mountain View office.
$187k annual equity
$75k target bonus
$15k sign on
= $465k year one, $499k Y2, $546k Y3, and $593k Y4 (due to equity refreshers). They’ve dropped their backdated vesting schedule and the 1 year cliff; you vest monthly.
Facebook doesn’t do counteroffers, and it’d be at least another year at minimum before I could make E5 there.
I’m pretty worried about Snap’s future success and the follow-on effects (morale, attrition, recruiting, etc.). On the other hand the money’s hard to ignore, and they’d have to drop quite a bit before it’d be worth less.
I like both teams equally well, though I don’t have much of a read on Snap’s engineering culture.
I have never heard of yearly cash bonus here at snap. It is not like fb bonus where everyone gets it, even meets expectations. You may want this clarified.
You are right to be worried.
I guarantee you 200% that you will be a happier person working at fb. If snap can turn it around, then perhaps it might be not that much worse.
It may be possible for you to get an okay offer for level 5 at some other company.
I currently work at snap at L4 and was e5 at fb. (Btw L4 currently pays better than fb e5 but has less expectations than fb e5).
That said, it might be worth giving snap a shot for a year. I did, I gained a lot of perspective. Things have been very bad at the company for the past year but how the company is being run is getting better everyday. But just be warned that things are still miles away from where fb is, in literally every dimension.