I received an offer for a M1 role from Meta London a few days back. I am currently based in India and hence, was trying to understand the taxation in the UK to evaluate my offer from all angles. In multiple articles on RSU taxation in UK, I read that the employer's NIC is deducted from the RSUs. This is a deviation from how things work for cash compensation where employer pays for their NI contribution. This deviation makes the effective tax rate on RSUs quite high i.e. 56%-58%. My recruiter said that Meta pays the employer's NIC even for the RSU part of the compensation but he didn't sound very confident and said I should check with a tax consultant anyway. Can someone working at Meta London share how their RSUs are taxed especially with regard to the employer's NIC? Current TC - USD 130k base, 20% bonus, USD 55k RSU (converted from INR to USD at current exchange rate) Yoe - 14 years #meta #london #rsu #taxes #facebooklondon
Your recruiter was right. Meta pays employer nic.
Thank you for confirming.
Just to clarify something. NIC are paid by employer and employee at every levels and for every type of income. Eg if you earned £20k, about £8k would be subject to NICs. Your employer would pay ≈15%, and employee would pay ≈10%. These percentages vary with tax bracket, but basically there will never be a point where only employee, or only employer is paying NICs
OP do you mind sharing your interview experience? It will help with my preparation for the EM roles in Meta London.
My interview experience was similar to what has been described earlier. The overall process took 2 months. It started with a recruiter reaching out to me on LinkedIn. Within a few days there was a recruiter screen which covered my profile at a high level (team structure, 1:1s, dealing with high and low performers etc.). After I cleared the recruiter screen, they asked to provide availability for the phone screen. It happened after 3-4 weeks. They asked questions around people management (1:1, dealing with low performance, giving and receiving feedback). Also, a few questions on the technical details of a project and the followups on that. After I cleared the phone screen, the recruiter briefed me about the virtual onsite and requested availability. I provided my availability after 4 weeks so that I could prepare. They in fact encourage you to take that much time. It had the following rounds - 1. Coding - one easy and one medium Leetcode. Since this is for EM role, the interviewer will generally help you and it is not stressful at all. Practicing 1-2 problems daily for 2-3 weeks is enough. 2. People management - 1:1s, dealing with high and low performers, tough situations etc. Specific examples are required here and they will interrupt you if you talk in hypotheticals. 3. Behavioral - covers the usual stuff from their interview prep guide. It is not so much about new or unheard questions but more about having concrete examples and being able to talk about those in as much detail as required. 4 and 5. Machine Learning system design - cannot tell the exact questions due to the NDA but here too, it is more about how do you structure your response to cover most of the areas. 6. Project retrospective - talk about the project of your choosing. Not very structured and was almost conversational. I knew the ins and outs of the project I chose with concrete examples for both technical and not technical challenges. Overall, I would say that the interview prep guide they share with you covers everything that you need to get prepared. Don't spend too much time in finding out the perfect material (paid or otherwise). Writing down answers to some of the questions also helped me a lot. Hope this is helpful for your prep.
Thanks for your detailed response OP. Did you have the relevant experience for the role you applied for? In my case, I have spent most of my time in embedded development ( C and parallel computing) and don’t have relevant distributed computing industrial experience. Do you think it will reduce my chances here? I am trying to bridge that gap with lots of preparation but I don’t know if that will help much or not.
I rephrase: fix salary, bonus, and vested stock are tax the same. So if your yearly TC on your contract is written to be £x (you need to devise RSU /4, and do the FX conversion), you just put this number in https://www.tax.service.gov.uk/estimate-paye-take-home-pay/your-pay And that should the right take home estimation, modulo the quarterly stock price. I'm I correct?
Op what's your meta offer?
Base - GBP 140k, bonus - 20%, RSU - USD 680k (4 years), sign-on - GBP 15k