I’m currently an L5 UX Engineer (similar to front-end SWE). My base is 170k and total comp this year will be around 340k. In a year I might be able to get to L6 and work remotely. I’ve been at Google almost 8 years. I’m comfortable, but sometimes frustrated. I have an offer from a privately equity firm in NYC that specializes in hedge funds. Comp would be 225k base with a bonus of up to 375k. Title would be VP, but that is common in finance. Bonus isn’t guaranteed and could be much lower. No remote work. Should I switch?
Toss a coin
L6 plus remote work sounds like a sweet deal. You can live in a 0 state tax place with low housing. If 375k max bonus is the hook, consider that “max bonus” at FB for E6 would in theory be 120+k cash bonus and a 600k stock refresher grant. I’m assuming the numbers at Google will be close, but the likelihood of that happening is extremely slim. Ask the recruiter about the likelihood of getting the max bonus and what a normal “meets expectations” bonus looks like.
If this is a change in location, then with everything else being almost equal, the location should be the deciding factor. Would you like NYC? the commute, the lifestyle, weather, schooling for your kids if you have any. You might like the east coast better if you grew up there.
L6 and remote work go together at Google or is specific for you?
Team is distributed in multiple offices, so manager is ok with remote work and traveling. Unusual for Google, and specific for my situation and team.
Only 10% rise, that is even not guaranteed! Stick to G, unless the offer is 550k+ (assuming you hit L6 in a year or so)!
I think OP meant max bonus is 375k and not TC. Base is an additional 225k.
Exactly, total comp could be up to 600k. Couldn’t get the recruiter to tell me the likelihood of earning the max or what the average would be (meets expectations). Though have a friend who works at the hedge fund and he’s been able to get close to the max bonus.
Hedge fund is another world compared to tech industry
I thought google didn’t allow you to work Remote or is this changing? If so I might need to do some leet code!!
It hasn’t changed. remote work is discouraged, but it is allowed in very rare and unique circumstances for people with a good track record. I still would have at least 25% travel, so I wouldn’t be totally remote.
Don't do that unless you absolutely need the raise. Otherwise try to change within Google or at least within tech. You'll be way less respected in the banking industry, even with a vp title.
Hell no. You’ll be worked to death and treated like second class citizen in HF. Stick with your cushy ass life at Google.
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I will elaborate (ex-Investment banking SWE) 1) SWEs are cost, not profit pool. You are second-class citizen. 2) Regulations: you can’t freely trade. Every transaction needs compliance pre-approval and subject to 30-day holding period 3) Some groups will treat you as contractors 4) Infrastructure is from last decade with sick “security “ restrictions. I measured: things which would take me ~40 min in AWS, will take 1 month to get done (like few weeks for firewall ports opening) with few layers of incompetent implementors in process. 5) Talent: the bar is much lower
Talent bar is lower in IB divisions of banks and traditional fintech companies. But many hedge funds have had the reputation of hiring super smart developers and paying them in the top.bracket. Two Sigma, Jane Street, DE Shaw to name a few. I think the talent here is at par with FAANG. A simple evaluation is learning more about their interviewing experiences