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Ask HN: Is it possible to make FAANG salaries without working there?

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191–200 of 547 posts

Re: Ask HN: Is it possible to make FAANG salaries without working there?

#191

Anecdote: I'm a Sr. Staff Engineer at a large employer in a LCOL city. Typical middle class houses cost $300k - $500k here, with luxury houses costing roughly $1m and small starter homes costing $200k (just using real estate as a rough proxy for cost of living). My base salary is $150k/yr. My cash bonus maxes out somewhere around $80k/yr, and typically falls in the $50k - 70k range. I also receive equity worth roughl…

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Tax rates are marginal, this is wrong.

Re: Ask HN: Is it possible to make FAANG salaries without working there?

#192

Anecdote: I'm a Sr. Staff Engineer at a large employer in a LCOL city. Typical middle class houses cost $300k - $500k here, with luxury houses costing roughly $1m and small starter homes costing $200k (just using real estate as a rough proxy for cost of living). My base salary is $150k/yr. My cash bonus maxes out somewhere around $80k/yr, and typically falls in the $50k - 70k range. I also receive equity worth roughl…

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[deleted]

Re: Ask HN: Is it possible to make FAANG salaries without working there?

#193

Anecdote: I'm a Sr. Staff Engineer at a large employer in a LCOL city. Typical middle class houses cost $300k - $500k here, with luxury houses costing roughly $1m and small starter homes costing $200k (just using real estate as a rough proxy for cost of living). My base salary is $150k/yr. My cash bonus maxes out somewhere around $80k/yr, and typically falls in the $50k - 70k range. I also receive equity worth roughl…

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That's just not how taxes work: https://www.irs.gov/filing/federal-income-tax-rates-and-brac...

Re: Ask HN: Is it possible to make FAANG salaries without working there?

#195

Earlier quoted context omitted.

Maybe for Canada.

I say this as a Canadian living in Ottawa, their salaries are not good.

They used to give a pretty good stock package but it lead to chaos in the company when the stock went down 10x and people were paid 50% stock.

Re: Ask HN: Is it possible to make FAANG salaries without working there?

#196

Anecdote: I'm a Sr. Staff Engineer at a large employer in a LCOL city. Typical middle class houses cost $300k - $500k here, with luxury houses costing roughly $1m and small starter homes costing $200k (just using real estate as a rough proxy for cost of living). My base salary is $150k/yr. My cash bonus maxes out somewhere around $80k/yr, and typically falls in the $50k - 70k range. I also receive equity worth roughl…

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In the USA this is not how tax brackets work. You are taxed on your income in each bracket at that rate, not overall

Re: Ask HN: Is it possible to make FAANG salaries without working there?

#197

Anecdote: I'm a Sr. Staff Engineer at a large employer in a LCOL city. Typical middle class houses cost $300k - $500k here, with luxury houses costing roughly $1m and small starter homes costing $200k (just using real estate as a rough proxy for cost of living). My base salary is $150k/yr. My cash bonus maxes out somewhere around $80k/yr, and typically falls in the $50k - 70k range. I also receive equity worth roughl…

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Rubbish.

Suppose your salary is X and the level that 32% starts is M

You get taxed on your first $X earnings at the lower rates. Then only the amount above the 32% mark ie X-M is taken at 32%. Thus everyone in the 32% band gets more money than those only in in the 24%.

Re: Ask HN: Is it possible to make FAANG salaries without working there?

#198
post #185

Tangential to this topic, but are there publicly traded companies that pay only in stocks? I'm curious to know if someone who gets paid only in stocks will come out ahead in terms of taxes they owe than someone getting a comparable base pay.

I don’t see how it would be any different for US taxes. When publicly traded stock vests you are taxed on value of the stock at that time as income. So, it is treated the same as if you received it as cash compensation for tax purposes.

I can’t speak to non-public company stock though.

Re: Ask HN: Is it possible to make FAANG salaries without working there?

#200

Earlier quoted context omitted.

I am part of the group that misses unlimited PTO. I was averaging 8-9 weeks of time off under the unlimited model while I am capped at 5 weeks at a company with actual PTO. The only difference is that I get paid out any remaining PTO, should I leave, whereas with unlimited, there was no expectation that it will be paid out on departure.

I also came from a place with unlimited and I loved it. Makes me wonder if the people that regurgitate the notion that it's a trap actually have worked in places with unlimited.

Agreed. I was skeptical at first, but I've worked at several companies with unlimited PTO and they all specifically encouraged people to take time off. One place was explicit that the reason they switched to unlimited was to get people to take vacations: "PTO is not meant to be a bonus when you leave the company. We want you to rest and recharge."

My current company recently made a rule that you have to apply for time off through the HR software. Not make it harder to take PTO—all requests are auto-approved-just so HR can track it. At the next all-hands the CEO said something like "You guys work really hard... we're, uh, worried." My manager has been bugging me to take a proper vacation instead of my usual day off here and there.

There are certainly awful, exploitative workplaces out there. But there are also great companies run by good people.

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