Why Facebook people are so stressed with performance review deadline(PSC)?

Nutanix
salesr

Go to company page Nutanix

salesr
Jan 13, 2021 14 Comments

It seems like a exam? Is company culture that cut throat competitive? Do people like it? I have heard people telling me oh i have to go, just 22 hours 43 min left in my psc #tech #facebook

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TOP 14 Comments
  • Think about everything you worked on over the past 6 months. Now categorize it into performance axes and summarize it. Now figure out how to prove that it was impactful and meaningful. Now reflect on what you did and think about how you could have done it better. Now go do it for 5-15 peers. You have one week to finish.

    All in all, a pretty easy week, but a lot of writing and researching.
    Jan 13, 2021 7
  • People get stressed out because facebook pays (a lot) for performance and a difference in rating or getting an earlier promotion can be life changing for some.

    Since this is known to begin with, why do people start stressing around psc time?

    My explanation is that they suddenly start looking back at the half and they dont want to mess things up. They look at some peers that are naturally stressed and those that share tales of super long and detailed self reviews, unfair treatment, and other concerning stories that they would normally ignore, BUT because the stakes are high it affects their psychology.

    Most confident explanations by people on what helps "succeed" in psc are false...

    It's simply a technical phase of writing down what you accomplished over the half that will help make sure your manager didnt forget something major you did when they discuss your performance.

    You can do a terrible job in writing the feedbacks and get a stellar rating or do a great job but receive a poor rating because the whole purpose behind the exercise is evaluating your accomplishments of the past half
    Jan 14, 2021 2
    • Uber
      princeZ

      Go to company page Uber

      princeZ
      When you say “pays a lot” is that in stocks? Because I heard the cash bonus is around 15% max (x2) which is very standard across the industry - many have higher targets.
      Jan 14, 2021
    • Yes - the target cash bonus is between 10-25% below director (a function of level). Performance applies a multiplier of 100%, 125%, 200% or 300% on that.

      But the more meaningful effect is on equity.

      Cash bonuses are immediate, but their effect is short-lived. Refreshers and promotions can have a huge effect on your comp going forward.

      As an example, an E5 that could get a refresher of 120k with a meets all rating (it's actually more, but lets keep it simple). That means 30K per year for the next 4 years. If, instead, they had a greatly exceeds rating that could double and mean a pay bump of 60K per year for these 4 years. There is no after-the-fact correction of this of you later perform better.

      Similarly, a promotion could easily double the baseline refresher amount which would mean the 60K per year would be roughly the baseline of the next level.

      There is more stress around stock allocation than cash bonuses because these are only granted once per year (in the current cycle). That means that if someone is borderline for a promotion and they don't get it this half, they won't get a refresher matching the size of the next level for another year.

      This becomes more extreme as people go up the levels because the stock grants size grow exponentially with level (versus a more linear growth in base salary) - a bigger share of someone's comp is made up of this equity.

      Lastly, for top performers there is something called AE (Additional equity) which is separate from the rating and an additional amount of equity that can be the size of an additional annual refresher... This one is very rare, but people like to think they may get it
      Jan 14, 2021
  • Uber
    princeZ

    Go to company page Uber

    princeZ
    What does PSC stand for? And what does it mean 22 hours left? Their feedback tool closes or what?
    Jan 13, 2021 1
  • Well, you expecting tech bros like to write many essays?
    Jan 13, 2021 0