TC based on stock appreciation is meaningless because you're just investing in the stock. Most of these faang salaries are comparable to contracting, the only exception is netflix and only because it pays cash
This is what people working in finance tell me. 350k as an engineer with no stock appreciation seems pretty good to me.
But 180k with 200k of stocks a year and those 200K increase every year is much better
Yes, money is meaningless. You've hitmon a deeply philosophical point about the value of anything. But money is great to have. Invested in stock, deposited in a bank, or stuffed under a mattress, stock based TC is just as good. It's actually money at the end of the year. What's the point you're trying to make? Meaningless=contracting? Or Are you jealous of the big league TCs? You do bring up a related issue: given how much the stock market has appreciated, which employers can keep refresher grants high enough to keep their TCs steady or rising?
Its just this weird hand holding thing were your employer invests for you
You're right, but. That's true only for employees who haven't the first clue about how stock buying, selling, and taxation works.
Nobody is confused. TC is not based on appreciation when people post their offers
It is though because people just read their 1040s and call that their base salary
Nope. People are posting in the standard base plus annual bonus plus RSU grant per year they get which is TC. 1040 is a sort of TC which includes appreciation but none interviewing will post that since they just got the job when they post their offers
You are right. If you earn 150k base an vest 200k a year in public company stock, your TC is 150k and you should totally do contracting for 175k because stock doesn't matter
In reality your first year is 150k and 20k and it grows 10x by the time you excercise it, vs bidding up a 110/hr w2 or 125 hr C2C that brings it to 170k vs 250k
You are thinking about small startups....
The info is still helpful. Money is money.
contractors get fewer perks, benefits, and generally shittier management, control, and culture. a huge part of why i became a full time engineer is quality of life - i like designing, pitching, executing on my own projects at my own pace wherever i want and health insurance on top i challenge you to find a job that matches (quality of life + work life balance + lifetime earnings) / (hours worked + stress) of a full time, salaried FAANG engineer
Challenge accepted: Two Sigma beats FANG and comp is all cash (base + bonus).
This is not the right forum for you
one of my classmates from high school went into investment banking immediately after her bachelor’s and made 800K / year cold hard cash. she also worked from 6 am to 2 am every week day. i’ll take funny money and a flexible, less intense schedule over that any day
So few people make it in ibanking, probably less than 5k ibsnkers in nyc making more than 500k a year
Nobody in ib makes over 300k base not even MDS
netflix is 80 hours / week of work, really shitty commute (traffic around los gatos is always awful, no easy public transportation option), and they will happily fire you on a whim while you’re on vacation. almost no FAANG fires without at least PIP first
Cope. I would murder 6 million liberals for 1 Netflix yoe
then why not just work at two sigma or jane street, or go full quant somewhere? bloomberg also pays all cash, comparable to netflix based on team and way chiller
you’re not wrong