I am wondering why people working at FB continue after 4 years if they had vested all their initial grant. Does FB refill the initial grant after completion of 4 years to avoid TC decrease? Or so the refreshers essentially fill that gap? Why would someone continue if the comp reduces after 4 years? #Facebook
Probably refreshers
Facebook refreshers are generous
Isn't this an issue at all FAANG?
Standard refreshers are designed to help you weather the cliff, but also additional equity my friend! I have not been there 4 years yet but my TC has more than doubled since I joined, and when I hit 4 years it will still be much larger than initial TC
What is additional equity?
It’s additional stock given in addition to your refresher (and it can be substantial!). It’s used to reward outstanding performance or bring someone to market (in the case of a promotion for example)
If you are a high performer you will get additional equity (and promotions) that more than make up for your initial grant.
How high has to be the performance?
If they don't give refreshers your comp would go down dramatically! 🤷🏾♂️
That would be a deal breaker for high level folks, since stock is their biggest TC component. However note that poor performers manage themselves out in 4 years with all weak refreshers
Which makes sense. Same at Amazon.
Refreshers for high ratings almost keep up with a good initial grant, but not with stock appreciation... So there is a cliff of you joined 3-5 years ago, even if you are doing well.
But with stock appreciation and high refreshers TC must be astronomical. Can anyone even beat that?
Yup, and I got used to the "astronomical" (not really) TC, and the cliff will bring me back to earth. Seen another way, finally shedding the golden handcuffs....
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