What is salary progression like at Indeed?
For those of you who have worked at Indeed for several years, or know someone who has, what is salary progression like? I have an offer from Indeed as a SWE at level L2 that’s $226k TC for the first year but then drops to $190k for the second year because the sign on bonus goes away. The drop in salary makes me nervous. I know I can try and be promoted to L2.5 (aka L2-II) but also wondering what the salary bump would be for that. Please if you have additional details leave them in a comment. I appreciate your info. #salary
I got a 2% base pay increase after two years lol. Increases very much depend on management discretion, advocate for them. As long as you are within "target comp" I would not ever expect you to get a base pay increase tbh. So keep that in mind, you may already be there. Otherwise it is certainly possible to rake in a high (18% or 20%) bonus if you can argue for high impact. New hires are certainly coming in and doing well. Your second year TC is considerably higher than than what I'm making in 2021. Promos are basically designed to be flat but "unlock" more pay progress if you believe that this will actually happen. Most of your increase will be in RSUs, so nothing for a year. They are very unlikely to promote you within a year of hire.
This is really helpful info thank you.
Much of what is stated was for the old performance management process. We moved to a 2x a year process. Everyone is eligible for promotion during the eval cycle. This allows us to quickly promote people if we underleveled you during the hiring process. Bonus tiers are now 10, 15, & 20%. Datafrog is correct that promos will maintain your salary (you get a 10% bump, but your bonus will go down due to higher expectations), but increase your RSUs (historically by 2x). The 1 year cliff is our version of golden handcuffs
Nobody at Indeed had received an annual refresher yet, nor do we have any transparency about amounts. There isn't a lot of info here period.
RSUs were given for the first time this year. They're being handled differently than LTIPs. We've asked for clarification on what the policy for refreshers would be like and haven't received transparent answers. No one actually knows what will happen because this is only the first year. We'll know better in January/February.
Are you including your vested RSUs in year 2? Generally TC is structured so that the sign-on bonus carries you until RSUs vest. Your TC year 2 should be >= year 1. Otherwise they gave you a whack offer, and I'm not sure how that got approved. I guess you could have convinced them you've got a lot you're leaving on the table with Amazon so they're trying to make you whole To the meat of your question - salary progression is ok, nothing amazing. Expect no more than 5-10% of salary growth a year. The bigger bumps happen when you level up and get more RSUs
My TC is 150k base, 105k RSUs split over four years with 25% each year, and a 13% bonus, and a sign on of 32k. Thanks for the info on salary progression at Indeed.
What org are you joining that has a 13% bonus band. As far as I'm aware, all of software engineering uses 10%, 15%, and 20%. Or are you using some expected average? Year 1 TC = 150*10% bonus + 32k = 197k Year 2 TC = 150 *10% + 105 RSU grant * 7/16 vested = 165 + 46 = 211 I think you may be misattributing the years for your RSU vesting. There's a 1 year cliff and then 1/16 vested every quarter thereafter. So Day 1 of the quarter following your 1 year anniversary you vest 4/16 + 3/16 for the other 3 quarters of year 2