I am expecting a written offer from Snap by end of week. I have asked the recruiter for 750k-800k and they mentioned that its possible for L7 IC and EM. Currently EM (E6) at Netflix. Wasn’t seriously trying to leave but the comp would look good. 1. Is it possible for Snap to pay this? 2. I heard Snap was laying off 25% of their workforce. Did that happen yet? 3. Do your RSU vest and give you the target comp or are Snap employees seeing comp come in consistently below target? 4. How is moral and the business doing? I heard growth in UK and US projected in Q1. Current TC: 680k cash Snap Offer: 830k and I have until next Thursday to make a decision. Wish me luck! #snap
1. Yes 2. No?? 3. Get used to volatility. Just sell above your grant price.
Volatility is fine but looking for first-hand trend insight that I cant see off bloomberg. Are these layoffs complete? https://www.theverge.com/2022/8/30/23329301/snap-layoffs-20-percent-employees-snapchat
That's almost a year ago.
They pay a lot. I joined when stock was $8, so I'm doing well. There were layoffs, but doesn't seem to have affected pay. Everyone who was under water got a "top up" around $10/share. Morale is ok relative to everywhere else. I came from Google and morale seems better here. That being said $680k cash is hard to beat
Thanks Snap. I’m pleasantly surprised that morale is good at Snap. Thats a bit of a relief. Interviewers all seemed really nice and no red flags. Any refreshers?
In our new comp system you can get refresher 4 times a year each of which equates to 6% (exceeds) or 12.5% (top) of your total TC, but keep in mind this is only for like 15% of the company. This will be a sort of hunger games scenario in some teams
After tax that bump is only 35-50k with huge risk of layoff? 🙈
I will get a final offer, make a decision, and share here. I agree. Lots of risk with Snap imo. Hoping Q1 results and slowdown in rate hikes help.
Same question. Do you really want change job for 10% -15%? Evaluate pros and cons make a decision.
I think Snap doesn't negotiate but also has a fixed small range for the offer which is often top of the market. L7 should be about $930k. Monthly vesting, no cliff. No annual stacking refreshers (you will still get yearly stocks but all vest 3 years later). ^ was the case 2 years ago so not sure if things have changed this year due to market conditions.
Good data point. They asked my range and I tried to ask them instead but recruiter was good at dodging. Normally I would push but in this market, I didn’t want to burn a bridge. I will let you know. Fwiw
Hmmm. I left snap after 1 year, so what I would like to ask you is what makes you tick at work and what possible team you maybe joining before I say anything.
Its going to sound bland but basically without doxing myself but backend engineer focused on distributed systems. I know a lot of people hate it but I like cross functional work. I got good at looking at other peoples repo’s and solving issues for them.
You will be fine. Take the offer if you are okay with a little volatility.
Congratulations OP. What role is this offer for?
EM role which I heard translate to L7. Backend engineer but dont want to share more because netflix teams are lean and I dont want people to know. 😭
EM tends to be L6, Sr EM/director is L7, it’s a very high position here, but it certainly pays well. Congratulations on the offer
What’s your YOE if you don’t mind me asking?
What about the PIP in Snap? Is it as bad as in Amazon? Did you consider that?
It’s not as bad. Snap doesn’t have a pip quota but everyone here is naturally just talented so you can’t really slack
I am a top performer everywhere I’ve been. I don’t worry about pip culture. If I did, I wouldn’t have joined Netflix.
Op, did you end up accepting the offer? Btw did you clarify with the recruiter if it is L6 or L7? They seem to have a very high bar for L7.
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What’s your TC at Netflix?
Added
Snap offer may not beat netflix. Snap tc includes 25% of base as bonus. You might only get 10% because of weak company performance. So cut $35K from TC. And if tiktok ban doesnt happen the stock will dip a bit.