https://www.businessinsider.com/coinbase-ends-salary-negotiations-recruiting-new-hires-2021-5 tldr, no more salary negotiation at coinbase. You get what you're offered, take it or leave it. What do you think? DISCUSS!
If they will give everyone top of range now sure. Kinda doubt it will go that way
People are going to leave so much money on the table
People who are underpaid and have no idea what they could be making will now get a competitive offer without the risk of being lowballed.
everyone is lowballed by default now I hate the hypocrisy of them trying to present it a net "benefit" to new hires, they are just trying to pay less to everyone.
If this means they pay less on average, then they will stop being able to recruit top talent. If it means they just pay everyone the max, then probably it will marginally boost their hiring effectiveness.
They target 75%ile, so, I doubt they would max the range. More like 75% of max for everybody.
75th percentile of top tier companies or 75th percentile of all software engineers? National median is 110k: https://www.bls.gov/ooh/computer-and-information-technology/software-developers.htm
Haha
All the more reason for them to be transparent about their pay levels upfront
Exactly. Going with this policy and not publishing the pay bands feels like a half assed approach.
100% agreed. This is only acceptable if they are open about leveling and pay bands BEFORE starting interviews. Iâd be fine with this as long as I knew what my range could be before wasting my time interviewing
It's more fair tho
Debatably more equitable but not more fair. The negotiation starts as soon as salary is mentioned, so the company can be aggressive towards you, but you have no recourse. This is just a veiled "progressive" excuse to issue take-it-or-leave-it job offers and avoid having to pay extra for high demand candidates. This doesn't benefit passive candidates with no backup offers.
How many levels/bands do they have?
No negotiation works well for all candidates if and only if itâs the top Coinbase can offer and/or higher than other competing offers if candidates have any. If not we basically have to settle with it. Sure itâs equal. But is it equally bad or good or average?
Also, their equity package now loses growth on outstanding unvested equity. Seems like a dick move by leadership to avoid sharing a larger part of the pie with employees.
Now that after theyâve IPOd. I doubt theyâll see massive gains in the public markets. This will de-incentivize people to build long term and I can envision constant churn. Unless CB a offers are like Netflix, the only people who wonât churn would be because they couldnât get other higher offers.
exactly, and super scummy to sell it as "predictable comp". like it's a hedge against drop in stock price for employees yea sure, CEO is betting his stock will go down.
I hate negotiation. This sounds great
Weak. Always ask for what youâre worth
So you're telling us that instead of asking for what's fair, you like to be handed whatever someone else decides is good for you?