Got the return offer. Signing bonus is too good to pass up for the first year pay (65). 2nd year pay looks pretty bad. I was thinking of: Graduate 1 year early => Work FB 1 year => Leave for Google/Airbnb/Lyft/HFT. I like the company and culture, but I can’t justify the paycut I’d be taking for not transferring. Am I missing something? Is this a good/bad career move?
I’d say take it get some experience under your belt and the first year signing bonus. If you’re not happy with your compensation/work, get other offers from companies that you want to move to or use those offers as leverage for a higher salary at FB.
People jump ship after 1 year all the time. But my advice is don’t make any bad decisions for just a couple dozen grand. The money will probably be there a year from now. Stay in college another year and enjoy yourself. Do a minor. Meet new people from all walks of life. You only get to do college once (unless you’re dumb enough to go to grad school).
FB 1 year to other top tier company is not going to look bad. Just means u got a better job.
Facepalm, as long as you perform well there's no year 2 drop.
You can get a $65k jump in TC after the first year?
Bonuses, refresher, raise, and potentially a promo... if companies really paid less in year 2 wouldn't everyone move? Sign on bonuses are historically used to hold you over until vesting but not where you are going to make a significant amount of money (excluding china of course).
My last 2 job hops were 1 year each before landing somewhere that compensated me well and I genuinely liked working at. Not only would I say hopping after a year is common I’d actually encourage it until you find a great fit!
What is HFT? Hillary Fuckin' Trump?
High frequency trading.
Other than the practical responses here on career development, you should read the terms of the sign-on bonus as most require you to pay a portion (or all) of the bonus if you leave within X years. The last one I saw was repay 100% if you leave before Year 1 and 50% if you leave between Years 1-2. This can also F you on taxes if not reconciled properly.
How so? Do you end up paying the tax that your company paid when they handed the bonus to you?
Well you would pay taxes on the bonus to the IRS. And then the company agreement would require you to pay back the bonus at 100% and it would be up to you to try and recoup the tax money from IRS if that’s even possible.
Nothing wrong with this if you can get another offer. Facebook won't hire you from industry unless you're at least IC4. Not sure what other companies policies are.
You can but if you do this a few times it'll hurt your resume. Also if you join and do a great job you might get a raise after 1y.
I disagree. I have been doing this all the time with 1 year tops.
How many times have you done it?