Reneging FB London Offer
I got a FB E4 offer in Feb and am supposed to join on Jun (TC: GBP130K = 88K + 120K/4 + bonus). The saving (sipp + cash) is about USD100K. Due to the spike in Bytedance RSU (5x), my current TC in Singapore is SGD330k = 150K + 650K/4 + bonus. The saving (all cash) is about USD185K. Growth issue due to many reasons. It's hard to swallow this big cut in saving. My only resolution without pissing off FB is to be at FB London for one year then look to transfer to the US for better saving. Reneging the FB offer looks right number-wise but will get blacklisted by FB. Not many US companies are looking to hire internationally due to covid and visa. Let me know what you guys think. I optimize for saving and want to live in US in the future.
Move to UK: 1. Better WLB as compared to Chyna 996 2. Smarter and friendlier environment in FB 3. Easier to move to US 4. Travel around in UK and Europe vs stuck in 20 mile radius in singapore. 5. If you are single, great place in UK or US vs racist and xenophobic country 6. Better lifestyle in UK with car and weekend travel 7. Don’t look at money or short term gains
Regarding 5, not sure if Singapore or US/UK is more racist, assuming OP is Asian.
re: 5 if he is singaporean UK and US will be the xenophobic place. In singapore he is among his people
what is the level in Bytedance?
Just curious, how would you save 100k USD in London? What would be net income in FB London ?
I will put 40k in a sipp. Tax and NI on the remaining 90k is 30k. Living is 24k. Cash saving is 36k. Sipp + cash saving = GBP76k = US100k. Sounds right?
@MgCn32 Interesting, how could you (as an FB employee) put money into a sipp.? Do you mean Self-invested personal pensions?
I am an Indian expat in SG and. I am on the same boat. My FB offer is around 134K GBP with similar base stock and bonus and my current TC in SG is around 280K SGD due to spike in SE stocks(I work for SEA) and I have a couple of dependents (wife and an infant). My decision - I decided to let go of the FB offer and stay at current company. My Reasons: 1. My WLB at current company is very good. I read bad experiences of people about WLB at FB. For me, it's an important factor while switching jobs. 2. The overall saving difference is not something which I can ignore. 3. I find people in SG to be nice and honest. Also the crime rate is very low which makes it safer. 4. SG Weather is something which can be humid but I still like the sunshine and the thunderstorms too. :) 5. Agree that I cant buy a car but Public transport is so cheap and efficient, I find no need of it. 6. With the amount I save, I can do a Europe trip once or twice a year and the travel bug is sorted :) 7. The house I get on a similar rent in SG is much bigger and well located as compared to what I would get in London. I can maintain a better standard of living here and still save more. These are my opinions though, I would love to hear a different perspective.
Thank you for sharing. As you have a family, there're so just many uncertainties with moving while you already have a great life in Singapore with that salary. Going to the unknown with much lesser pay is tough. I am single so I can move on a whim. But I am still on the fence and cannot decide it as the difference in saving is so big. Did you renege the offer or decline it? What's the reaction of the recruiter when you do it?
Had to renege. Recruiter was understanding but she said I could have been more upfront. Things ended on a good note.
Yoe please? I can't even get a call from fb London with 3 yoe. Was referred.
2 yoe with a ML master at the time of the offer.
I'd say FB is a much better company culturally, I'd make the move but depends on if you're optimizing just for cash
Have you gotten your visa yet? How long did it take for visa processing? Did FB legal help?
For London, the offer is nothing special. You can get a better base in a a Bank or a Fintech. Cost of living in London is very high, assume that you are going to pay at least 1500 GBP just for rent (plus council tax, bills, etc.), unless you don't want to live in a depressed peripheric area, far away from the centre, or share a flat. I think you have underestimated the cost of living, I find London as expensive as Zurich and NY. Regarding your SIPP calculation: usually you can contribute toward your company pension found (no need to open another SIPP) but the total contribution (between you and the employer) should be 40k (annual allowance in 2021). FB already contributes to the pension (do you know the percentage?), so you won't be able to add further 40k (but only the difference).
you won't get blacklisted because you reneged. you might because there's nothing NEW that's causing you to renege - everything you've mentioned, you knew already when you signed the offer. that's just plain dishonesty. on the other hand, if you got a great competing offer after you signed - companies understand - you dont get blacklisted for that.
It is $55k TC cut which translate into $30k net per year. Do the math with yourself and decide if you are okay with that Finding relocation packages is hard .. especially for the UK