Looking at levels, snapchat seems to pay about a level higher for the same role when compared to faang companies. Why?
maybe they used vest time pay, their stock went up 10x in like a year or 2
I doubt it. Snap employees make over a million at vest
how come u didn’t hop there then for 1M
I see it as offsetting higher risk. FAANG stock is rock solid and almost guaranteed to appreciate. Snap, Uber, Pinterest, etc. stock could go up, but it's less certain so there's more risk involved.
Question: why does risk matter if you can jump companies? Eg. If stock falls under initial vest, just jump to reset your RSU grant
You can jump but you lost of those 1-2 years of TC as mentioned in offer letter due to stock fall. In big companies, atleast TC would have been stable if not increased in those 2 years due to stock growth
So snap can hire people from facebook or google.
I thought Snapchat was a dying product, turns out people still use it
literally 0 of my friends use snapchat
We probably aren’t their target market
yeah. I dont know why neither. When I updated my Linkedin profile, recruiters stop DM me.
Maybe they don’t even try knowing most places aren’t matching that TC.
Random guess but looking at levels, it seems that their yoe for roles are much higher Maybe that’s why?
Yes, it's kind of complicated. There is also no refresh stacking. On the low end of the levels Snap pays quite a bit more but on the high end of the levels you can probably get the next level up at G/FB and it will be less if you account for stacking.
Didn't they merge L5 into L4, or something like that?
I don’t know why but I got a package 60% higher than my current lowball at G so sayonara
What was the new package?
It was a dying product 1 year ago. Then management went to the whiteboard and discussed. Came back enlightened with the fact that the smartest people in the world only care about one thing: TC. Product quality, popularity, revenue, impact etc is all nonsense. They started handing the highest offers out using borrowed money. And guess what, it worked. In no time, the smartest people joined their ads business. These people were able to bullshit really well at investor events. That was the only thing needed to inflate valuation. Nirvana for the confused 25-year old kids who are on the board of Snapchat! These smart people saved the management’s ass. The cycle of high TC continues, thanks to the inflated valuation. They can keep this going for a long time. Lesson learnt for any failing startup - borrow money, give the highest TC in the market (by a lot), you will get the smartest people to join you from FANGs and beyond, let them bullshit around for a year, that will inflate valuation and cycle can continue.
Doesn’t work for every company, snap is pure tech with a big user base. Great for really high leverage engineers
lmao looks like someone didn’t get into Snap
Smaller team, high caliber
higher caliber in which way? I got competing offers from Lyft and Snap and Lyft's was significantly higher. I might try to go to Snap at some point though as the team I interned on was great