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. $190k salary $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. What do?
Wow that’s a $170k raise. Go to Snap and ride it out. G/FB will always be there for you
Go for snap, but keep your interview skills up to date! They may even lay off you..
For sure Snap, the only risk is that the value of annusl equity can go down, but it's so high that if your tc drops to 400, it's still good
Forgot to mention this in the post, but there’s also the chance they cancel or reduce the bonuses if they don’t meet company goals. Management seems pretty capricious. Like, last year they apparently cancelled the planned bonuses and instead gave out options to some people, which is...weird.
That bonus cancelling shit sounds like a red flag to me.... but I know I would be tempted by the level bump. I would probably hit that and ride it out a year and worse case now you got new level at following company
Also it is a good time to join snap. The shares are at a historic low, but I assume they would bounce back. They seem to focus on innovation and may have gotta few things wrong, but I think they can always do well than present and keep innovating!
“but I assume they would bounce back.” - a dangerous assumption for any company that’s at their historic lows.
Time to take a second mortgage and put it on snap?
That’s a big jump. Take it.
$465 TC with 5 YOE, what else can I say other than CONGRATS! 🎊
Do you guys think Snap will survive? Don’t take it in the wrong way. I have some stocks...
I think Google or some other giant might acquire them. There's no other young people social media company out there.
Yes this is the question to be asked. But that would be fortune telling to answer this. And surviving have a broad meaning e.g. Yahoo. Thus Idk. But I am sure of one thing: Zuck will go behind them relentlessly. And he is better at that than Page going after FB once. Based on my analysis, I think the real annual value of the offer in 2022 is either ~$250K + insecurity or ~1M + long term success. Would you take it even in the worst case? Then go for it if you also liked the position.
Ha--I'm in the exact same situation! The offer, YoE, comp, all of it. Set up some calls or meetings with the hiring manager(s) if you can. Like any job, it's mostly going to come down to your immediate team--I asked some tough questions and liked the answers I got in response, so I'm now seriously considering it.
Oh, cool. I’m a Blind n00b, but I think I sent you a PM.
Good for you! I only wish I could make that much when I have 10 YOE.
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Dayumm... I'd hit that TC!