Can someone ELI5 what refreshers mean?
I’m a MTS 1 at VMware. Obviously there is concern over layoffs, but I’ve been hearing that Broadcom offers great refreshers to employees. Can someone explain what that actually means? Is it new company stock received? TC: 150k YOE: 1 #swe #engineering #broadcom #vmware
Answering in the Broadcom context: You get an offer to join in 2023, for example. The offer comes with a 4 year stock grant that vests quarterly. You accept the offer and are now a Broadcom employee. March 2024: You receive another Broadcom RSU grant with a 4 year vesting schedule (on top of the grant you already had). Note that this first one may or may not happen for VMware hires. March 2025: You receive another 4 year RSU grant. Your previous grants stay intact. March 2026: You receive another 4 year RSU grant. And so on. The number of stocks you receive in each grant isn't a constant, and will vary but the general idea is to have it equal to a % range of your base salary. Eventually, if someone stays 3+ years, they'll have 4 parallel stock grants. And every year in March, they get a new grant.
Yes this is the answer 👆🏻 I don’t think most people understand how much money you make in stock if you can stick it out a few years. Unparalleled for most people and what they will make in their careers.
And to stress the point further, the overwhelming majority of people will get the refresher grants. As opposed to it being for rank 1s only incentive at most companies.
Old link but still true. Broadcom doesn’t employ a lot of ppl (not much fat) but pays very competitively. https://www.bizjournals.com/sanjose/news/2019/03/05/median-tech-pay-avgo-fb-goog-panw-nflx-intc-csco.html
New rsu grant
Meaning we get additional stock on top of our existing package? I’m asking because at VMware RSUs already vest twice a year, so I’m trying to see what’s the improvement.
Yep.