Is it true that if it is a startup that is not one of the unicorns like Uber or Airbnb, then the TC may be just $180k - $200k base, plus stock options that may be worth $0 nine out of ten startups? That's, compared to MAANG $300k to $350k TC or contractor thru agency at $180k TC. Then startups probably don't pay so well, as we may have to work 10 to 12 hours per day, and even if the stock options can be worth $3M, but 1 / 10 startups succeed, so the expected value is $3M x 1/10 = $300k, and divided by 4 years, it is only $75k. So $180k base + $75k is $255k. MAANG at $300k but sometimes there are tons of meetings and with 40 hours of work, it is like 50 hours per week. So if the contractor job is easy, like 6 hours per day, then $180k x 50 / (6 x 5) = $300k so contractors may earn the same as MAANG full time counting by the hours. #startup
Have you found contractor jobs to actually pay above 40 hours regularly? I worked as a contractor for 4 years and was only paid above 40 hours one time when they called me at 2am on a saturday to fix something and I pretty much got let go over getting paid for those extra hours. The work load was often below 40 hours but for most jobs I had to be in the office for 8 hours 5 days a week regardless of work load, and when workload was heavy Id often be in the office 10-12 hours a day and working from home on weekends.
In my experience the 6 month to 1 year contract type of work doesn’t allow for that and in order to make more you need to either get time and materials contracts and work more hours over a shorter period of time or get firm fixed price contracts where you can really ramp up your effective hourly by building in efficiencies and automation into your process but charging as if you were putting in the time to do everything manually. That said, FFP has the risk of being more work than you estimated and lowering your overall take home
I worked at a company where we had to prepare to release the new website around 10pm and lift up the curtain around 12 midnight or 12:30am, and fix bugs or issues till the next morning around 3am (wink wink. the curtain down website where people wait on the website to buy something). We got paid from 10am to 4pm and then 10pm to 3am, although I can feel the manager wanted us to go home at 12pm or 1pm so that we don't have to bill them extra. Another company I worked for, I had to finish something on Saturday and I billed them for 2.5 hours. The manager got to the state similar to a volcano, and she was going like, "why do you need over time? Next time, you need to get pre-approval. And, you also need to document every single hour what you did in order to claim more than 40 hours." So I guess the rule is that they almost never want you to report more than 40 hours.
You can work multiple contracts and get close to $500k+ tc a year
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Yep, startups are high risk high reward. I personally lean towards bigger public companies because I think if you’re going to invest that much time and count on the options paying off you might as well found your own startup because the payoff will be way larger if it hits than working for a successful startup as employee 100 or whatever