Got an offer for Snapchat, London based (non sales). I was told there's a quarterly outperformance equity but there was no mention of annual performance bonus. Can someone at Snapchat give me insights as to how this works? Many thanks #snapchat
Top 25% of employees get roughly an additional 12.5% of their annual equity target quarterly. If this happened every quarter it means you get a 50% bump in equity pay annually.
That's incorrect. It either 6.25 or 12.5 of their TOTAL comp in equity.
Yeah, it’s TC, not equity.
I wouldn't give someone who doesn't post TC a bonus mate
Haha there is no bonus anymore except for the quarterly one few people get
It's quarterly. If you still worked here you would know that.
Ask me any questions you like. I still work here.
Top 10% of employees get 12.5%, next 15% get 6.25% of their target equity stacked on top. Vesting starts immediately, so if perf is in July, then equity starts vesting in July, and first stock is deposited in August. Bottom 75% of employees get nothing.
In add, no more meal card, review well being benefit reduced from 100 £ per month to 150 £ on quarterly basics and only with a limited lists of providers. RTO 5 days
5 days?! Recruiter said 4 during the process 👀
Bullshit especially in London as no one is coming to the new huge building, they are reinforcing the policy and beginning of September - they will mention back to back 5 days
Based on a rating you received quarterly: Top (best 10% in org) - 12.5% of total compensation (base + yearly target equity) Exceed (next best 15%) - 6.25% TC Meets (70%) - nothing Not meet (5%) - danger zone
Office itself is super nice, fancy breakfasts / lunches / dinners included
Bruh which office are you going into
It’s a bit different question about employer’s contribution of National Insurance (NI) and how much is paid by Snap. 1) For one’s base salary, is the employer part of NI (~13% deduction) paid by Snap? Or in other words, (employee only pays income tax and employee NI. 2) For RSU’s vested, is the employee supposed to bear the cost of employer’s NI contribution (~13%)? Essentially this means RSU’s will be taxed at 60% (45% tax, 2% employee NI and 13% employer NI). Can anyone from Snap@London clarify on the above points? Thanks!
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Can you share your offer?