Does Amazon care about their reputation at all? Their 401k plan sucks balls, the match is embarrassing, the first thing anybody asks me is “do you get prime free” and I get to respond “no because Jeff Bezos is a cheap fuck”, rumor has it they give older employees negative raises if their stock went up more than expected (I haven’t confirmed this yet but if it’s true it’s fucking crazy) I have to imagine Amazon’s negative image comes at a cost. I wonder how well theyd be doing if they were viewed by the public as one of the top employers. Giving all the employees free prime would cost almost nothing and be a good positive conversation point between the public and the employees. I suspect when the stock starts to struggle they’ll have a lot more trouble retaining people. TC 240 YOE 4 Taking a pit stop at Amazon before greener pastures.
How long have you been at Amazon?
A couple weeks. Probably joined at a local peak so will likely see my compensation drop in year 3 and 4. Not planning to be here when that happens.
While I think healthy criticism is good, I feel like you’re going in with a bad mentality. I also came in expecting to not have a great time and leave for a better company soon after. I was pleasantly surprised when I actually came to like my job and team. Not that I plan on staying forever, but I wouldn’t write off your experience a couple weeks in.
Eventually is gonna bite when stock falls or flatten
Yes, benefits do suck and timing your employment at Amazon is a huge factor. I was lucky to join 6 years ago but feel bad for anyone who chooses to join now, especially if they are not getting a TC bump.
I thought about that a lot. Got a guy on my team that’s been at amazon for 12 years. He loves Jeff. Talks about Jeff like he’s a cousin. Then I realized.... Damn I would too. This guys fucking loaded now. But alas, I joined at 2k and not planning on staying past year 2. I doubt many people in my inaugural class will. Amazon’s reputation, benefits, and wonky pay structure almost guarantees an exodus if they can’t keep growing that stock till the heat death of the universe.
Stock may go to 3500 but still not the 5x to 10x return most yellow badges got in the last few years. To get the same kind of return the stock would have to be at 8k or 10k. Could get more money with a stock split but unlikely. I quit for the same reasons too. Atleast for the short term all value is baked in the price. May come back to Amazon later when stock is at a half or 3rd of what it is now and new lines of business show potential (like ads or streaming video or games)
A lot of folks here had massive TC jumps when Amazon’s stock went through the roof. But for newcomers, it’s unclear what that jump will look like. If it’ll even happen anytime soon. In similar circumstances, most companies would hemorrhage talent in the near future, their product quality will start to suck, and they’ll get stuck with B-player politics and bureaucracy. But I think that Bezos and his VPs will realize this and prevent this from happening well before it results in any business loss. They’ll up their employee TC and benefits before they lose any money whatsoever. There’s a reason why they’re Amazon, after all.
I hope you’re right. I’m certainly not banking on one of the first trillion dollar companies ever becoming a two trillion dollar company any time soon.
But also realize this could take years. Really depends on how much Amazon is losing top performers and how difficult it is to bring in new people. From the looks of it though, seems like mostly everyone is still dying to work at Amazon. I don’t think this notion of “Amazon is a shitty place to work, so I won’t accept their offer” seems too widespread. It’s still considered Tier 1, even in terms of TC. So, yeah. I don’t think their benefits are changing anytime soon. That’s my personal guess.
All I know is that warehouse workers there routinely try to commit suicide by jumping off of multi-story storage units/levels. Sounds like a grade-A company if you ask me.
Actually the suicide rate in our 500,000 warehouse population is lower than the suicide in the general American population, but given enough hundreds of thousands of people even with a low rate there are going to be some ill people who commit suicide. But hey, go ahead and ignore the objective way of looking at things and spew whatever troll garbage you like.
Suicide is extreme case & I have not personally heard of such or if there is any, it must not be solely because of working in fulfillment center. But boy, you cannot deny that FC work is brutal & there is no room for slackness. It is some of most inhumane place you will visit though it won’t appear to look like one. All happy n chirpy but that shit is dark behind the scene. This coming from someone who worked on the floor as their manager :-(
> ...rumor has it they give older employees negative raises if their stock went up more than expected (I haven’t confirmed this yet but if it’s true it’s fucking crazy) It's not true. Thanks for bothering to verify before spreading something unsubstantiated in public. Sorry to hear you're unhappy. Maybe you should move on sooner than later.
The 401k plan issues are entirely because of the 500,000 people who work in warehouses and do not contribute. That results in the plan failing the IRS fairness test which is why most of us get part of our contributions returned every year. You could selfishly say that Amazon should divert payroll for low income workers to automatic 401k contribution, creating a "safe harbor", just so YOU could get a tax deduction. In that case we could also expand the match and even allow after tax contributions. But that's just selfish because in the 15% tax bracket, or 0% bracket, that most of our warehouse workers are in the 401k has NO tax benefit and simply locks up money they would rather have deposited in their checking account to spend on basic needs.
If you are not happy GTFO instead of complaining
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Tell me one thing, did you get any offer from any of the other FAANG companies when you joined Amazon?
I did not, but that’s not relevant. IBM had a better 401k and that’s just embarrassing. I was maxing my 401k and getting 6% match. I can’t even max my 401k at Amazon because of the hce discrimination test. And the measly 2% match requires three years loyalty. Ya that’s worth it. They pay well. So I joined. Half of this I knew, half I learned, but none of it is a surprise.
Go back to IBM lol Such a baby