I’m a new grad considering on of my offers from Facebook. It is the standard return internship package at 118k base, 160k vesting over 4 years, 75k signing, 10k relocation, 10% target bonus. So my assumption is that getting promoted to E4/E5 doesn’t mean your stock grant increases, it just means the refreshers should have added up by then? I’ll assume I can get to E4 in a year and E5 in 2 years after. And also I’ll assume the refreshers are 50k for E3 and 80k for E4 and 140k for E5. So for the first few years are these calculations correct? Year 1 (as an E3): End of year tc: 118(base) + 40(initial grant vesting) + 75(signing bonus) + 10(relocation) + 12(~10% target bonus) = 255k *promotion to E4 happens after first year, base goes to 158 according to levels* Year 2 (as an E4): End of year tc: 158(base) + 40(initial grant vesting) + 16(~10% target bonus) + 12.5(year1 refresher) = 226.5 Year 3(as an E4): End of year tc: 158(base) + 40(initial grant vesting) + 16(~10% target bonus) + 12.5(year1 refresher) + 20(year2 refresher) = 246.5 *promotion to E5 happens at end of year 3, base goes up to 195k according to levels, 15% target bonus* Year 4(as an E5): End of year tc: 195(base) + 40(initial grant vesting) + 30(~15% target bonus) + 12.5(year1 refresher) + 20(year2 refresher) + 20(year3 refresher) = 317.5k Year 5(as an E5): End of year tc: 195(base) + 30(~15% target bonus) + 12.5(year1 refresher) + 20(year2 refresher) + 20(year3 refresher) + 35(year4 refresher) = 312.5k So by end of year 4, my initial grant has already been fully vested and from then on until I get promoted to E6, the E5 refreshers will continue kicking in. Is this correct? I used to think that when you got promoted, you also got another RSU grant corresponding to that promotion. This seems to be completely false though. So for example, the average stock grant for E4 hires according to levels is around 560k over 4 years. So after you get promoted from E3 to E4, you don’t get this 560k as additional rsu, correct? It’s just that the refreshers should stack up so that it becomes close to that number? So from what I can tell, the numbers on levels.fyi definitely seem skewed higher since most are external hire offers? It seems like staying after your initial grant vests fully and getting a lot of internal promotions puts you at a clearly smaller tc than external hires who get in at that level. I’m also not really taking stock appreciation into consideration.
Back test on the stock growth over the past 4 years and see how the compensation changes
Don’t forget base salary increases at the end of each year, even if you’re not promoted. Also, you don’t immediately receive the new level’s refresher after promo. The time when you were the previous level is weighed in to the refresher calculation.
Could you explain the last statement?
The refresher formula has target amounts for each level (OP says $80k for E4 and $140k for E5). If you were E4 for most of the year and get promoted to E5 new the end, your refresher will be closer to $80k than $140k.
Kids these days... haven’t even started working yet and mapping out what they’ll do after 2 promotions.
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yeah you’re right. you can work somewhere else and join fb after 4 years then :)