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

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

#402

Sure, if you work at many hedge fund you'll make similar money, and likely more if you are good at the job and the fund has success. One other nice thing is that instead of restricted stock you get actual money. And generally the money will be locked up for less time than the 4 year vesting that these companies often follow. And on top of that you can usually invest your money fee free in your own fund to help juice…

> And generally the money will be locked up for less time than the 4 year vesting that these companies often follow.

Err...4-year vesting doesn't mean the money is literally locked away until you hit 4 years' tenure. A $1m stock grant vesting over 4 years might pay $250-350k every year, depending on the vesting schedule and stock performance.

If a hedge fund pays $1m every 2 years then they're just paying more period. It's not the vesting schedule which causes the difference in comp.

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

#405

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.

I've only heard bad things about unlimited PTO, but I've only experienced good things. I've worked at two places with unlimited PTO, and at both, I typically took ~5 weeks and nobody had an issue.

At one place I worked at, they only gave 3 weeks, but with the option to "buy" a 4th week with a slight salary reduction that effectively made that 4th week unpaid, but with the loss of pay spread out over the year. It was nice, though I actually wish I could have taken more, especially since the company did a shutdown between Christmas and New Years and forced you to burn a week of PTO at that time, which meant that you really only got 2 or 3 weeks throughout the year to do what you wanted.

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

#406
I have near-FAANG base plus bonus working as a manager/tech lead at non-FAANG in a series B tech startup focused on industrial production (keeping it vague). It is well funded by tech elites and pays more than a comparable company would pay, and I've been here for a few years. I don't have anywhere near FAANG equity potential.

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

#407
post #49

According to levels.fyi, FAANG only pays the most at the most experienced levels. I'm not sure if those are even hired for, they might be promoted into. Of the rest, the top paying ones seem to be fintech and AI startups. Only Netflix still scores high in top salaries. It would make sense too, as they have a lot of leverage. Lots of people joining are happy to take a cut just to have the FAANG name on their resume. A…

Those salary websites are very wrong.

Levels.fyi is to be trusted. 100% accurate for Google SWE ladder at least.

Can be an apples-to-oranges comparison for some other companies with large stock appreciation (e.g. Meta), where a lot of the comp number are vested TC rather than granted TC.

The numbers accurately reflect longer term employees W2s, but not the offer you’d get if you joined today.

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

#408

Earlier quoted context omitted.

> Because the stress and risks of running a small business as a solo inexperienced first time business owner are insane compared to a regular 9-5. Believe it or not you get over this. It’s kind of like the fear of going up on stage to give a presentation. Some people get an addictive rush, these are usually serial entrepreneurs who just love to be in charge because they have no problems with risk/stress tolerance (mo…

> You get better at handling the stress as you get more comfortable with Some people, but not many people... > Everyone should attempt to start a small business or a side consulting gig Why? > Failing that, you should strive to make it to VP-suite of your company Why? Why take time out of your day to tiger parent strangers on HN when you can just have your own children and damage them instead?

>just have your own children and damage them instead

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

#409

Civil servants living in the DC or SF metro areas max out at about $195k not including benefits. The benefits include an actual pension, really good health insurance, and 1-1 salary matching into a 401(k)-like retirement fund (the TSP). Also, you're actually expected to work 40 hours a week and generally not more, and you're expected to take all your vacation. It takes a while to get to that level, or you need to get…

Just going to jot down some thoughts about this, as it's something I'm very familiar with.

GS-15s aren't particularly common (fedscope data says 3.1% of federal employees are GS-15) and overwhelmingly they are supervisory positions (or more commonly supervisor-of-supervisors). Even if you do find a non-supervisor GS-15, the federal government mostly contracts development, so it's exceptionally rare to find a federal engineering position that does something other than contract oversight (generically called acquisition). I'm not saying those positions don't exist, they are just rare, and typically reserved for promotions from within the agency or federal government. Also, since GS-15 is so senior in the federal government, even if the position is technical it will start to be political.

Pay is pretty low for new grads and experienced engineers, but decent when you're in the ~3-8 year range of experience. Most agencies are hiring new grads at GS-7 or GS-9 (in SF that's $61k to $75k to start) which is a joke. So even if you can get on at a federal agency as a GS-14 or GS-15 level, you'll have an exceptionally hard time hiring new engineers. Pay at the high end, especially in HCOL areas, very quickly hits the congressional limit and makes it pointless to seek promotion (Look at the SF are GS-14 table: https://www.opm.gov/policy-data-oversight/pay-leave/salaries... ). You can theorhetically bonus up to 20-25%, and I've heard that some intelligence agencies just do that across the board, but most agencies are probably giving a 2-3% bonuses each year.

This is a sad and interesting factoid: Long ago congress passed a law saying they need to track federal vs private sector pay and adjust the pay to federal employees to match that. Of course, there is an exception that allows the president to disband this requirement in case of national emergency. So now every year the president literally writes a letter declaring a national emergency and manually decides what the pay increase will be, which is always significantly lower than what is recommended. Here are the national emergency letters from 2023 and 2022, but they have been issued by every president for decades now:

2023: https://www.whitehouse.gov/briefing-room/presidential-action... 2022: https://www.whitehouse.gov/briefing-room/statements-releases...

Benefits are good, but not amazing. Yes, there is a pension and a wide variety of health insurance options, but they're mediocre compared to what a lot of high-paying tech jobs offer. TSP is basically vanguard with lower fees and a 4% match. You can look at the healthcare options here: https://www.opm.gov/healthcare-insurance/healthcare/plan-inf...

The 40-hour work week it completely true. If you're trying to work overtime, you'll actively be discouraged and told to stop it and go home. There is generally support for telework, but it's very political, and who knows if it will get killed in the future.

Lots of agencies, especially the agencies that need a lot of technical work, will require you get a security clearance and that comes with it's own considerations. Drug use and foreign contacts are a big problem and makes recruiting even more difficult.

It's possible to find a job at some agencies working on stuff that feels very rewarding and very important, but you will always constantly feel like the bureaucracy is constantly fighting you.

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

#410

Sure, if you work at many hedge fund you'll make similar money, and likely more if you are good at the job and the fund has success. One other nice thing is that instead of restricted stock you get actual money. And generally the money will be locked up for less time than the 4 year vesting that these companies often follow. And on top of that you can usually invest your money fee free in your own fund to help juice…

> And generally the money will be locked up for less time than the 4 year vesting that these companies often follow. Err...4-year vesting doesn't mean the money is literally locked away until you hit 4 years' tenure. A $1m stock grant vesting over 4 years might pay $250-350k every year, depending on the vesting schedule and stock performance. If a hedge fund pays $1m every 2 years then they're just paying more period…

> Err...4-year vesting doesn't mean the money is literally locked away until you hit 4 years' tenure

No one said it did:)

My point was that a typical bonus is about 2/3's employees at the moment its granted and 1/3 held back for a year sometimes two, so you get money faster than a typical 4 year vesting schedule.

Does that clear things up?

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