@CreditKarma how did the acquisition by @Intuit go?
Mailchimp was acquired by Intuit yesterday, and it’s been a rough ride for many so far. From disappointing “transaction bonuses” to lackluster offer letters to losing out on a lot of benefits, we’re hurting. Was it this bad with Credit Karma? Will it get better? What should we expect? TC: $210k
Mailchimp benefits were better than Intuits?
We are being run as a separate company. No changes to comp or benefits, other than a retention grant that has about doubled in value since it was issued last year.
No changes to benefits? Can you expand on that because our benefits are changing
Our benefits remain entirely separate from Intuit’s. We can’t participate in the Intuit ESPP, for example.
https://www.protocol.com/amp/credit-karma-intuit-ken-lin-2652917351 By reading this interview you can see MC and CK are two completely different acquisition stories.
Hate to say this but .. I think your leadership sold you folks out for their own enrichment. Intuit will probably visit CK compensation at some point, but we were guaranteed little to no change for a year (as stated in the deal terms).
They 100% did.
You're entirely correct. The merger bonus was an indicator. 12 bil, but can only give people 200 mil in cash, lol.
Yeah we got fucked
Ok since MC team is getting sensitive about comp, let’s talk about real numbers here. Here is my TC including benefits and let’s company with MC. Role- senior DE Base - 170k Yearly Bonus - 15% but I always get more then 20% because company doing good. Refresher- at least 60-80k 401k- 10k company contribution ESPP - at 15% discount Phone + internet reimbursement. Transportation are extra. Now someone from MC mention their distribution and let’s company apple to apple. Also CK team, please mention your salary also. I heard Intuit salary is still better then CK but let’s compare.
Thanks for sharing! Is your refresher number the amount that vests in a single year?
CK comp is higher from what I hear. It was a major concern in the Eng org when the acquisition was announced.
MailChimp founders screwed you, this is what they negotiated. They took billions off the table for themselves while leaving you with peanuts.
Did you see their bonuses and 401k contributions above? It was a private company and they were getting those contributions in lieu of RSUs. If Intuit went to a private equity firm tomorrow, we wouldn't be getting anything extra outside of our RSUs.
You'd only feel screwed if you compared yourself to the founders.
Wow sorry MC crowd. Small consolation but not mentioned yet are things like Intuit’s $1300 yearly “well being for life” stipend for health-related expenses, a robust internal spot-bonus program called “spotlight”, the 15% off employee stock purchase plan (which at times has been more like 30% off with how well it’s been doing), spot bonuses for patents, a scholarship program for employee families.
Yeah we all got the useless koolaid spiel, you don't need to reiterate.
I think you guys should read more into all the benefits intuit offers. It is top of the class even for bay area. - Wellness reimbursement 1300$ - 15% ESPP with potential 6 month lookback - Annual refreshers 70k for seniors, 100k+ for staff - 15-20% annual bonus. Intuit almost always gives more than 100% bonus since the company has been doing well. - Healthcare costs 20$ a month. There are so many added healthcare benefits for mental health, physical well-being. You can even get a financial advisor through intuit benefits. - spotlights: anybody can gift you spotlight money - 1:1.25 401k contribution All this will tally out with your next refreshers or just move within Intuit. Mobility is easy.
$20 a month for health insurance?? I call bullshit based on the benefits website
You are really penny pinching here, okie $30? In grand scheme of things; are you going to fight over the added 100-200$ a year? What you see on benefits is not the true cost, the insurance is further discounted when you enroll. Idk how it is for mailchimp, that’s all I pay.
Great. We’ve been completely untouched in eng so far, except for a retention bonus that vests over 4. Raises and promos going forward as they previously did. Sorry to hear things are not going as well for you
This actually makes me feel a bit more hopeful, thanks!
Did eng experience layoffs or mass resignations (due to the acquisition, not covid)?