Live data from Hacker News

“Rest and vest”: engineers who get paid and barely work

businessinsider.com

61–70 of 335 posts

Re: “Rest and vest”: engineers who get paid and barely work

#61
post #46
post #24

Earlier quoted context omitted.

The fact that they have a the market position and capital to buy up human resources and waste them simply to keep competitors from being able to develop products goes to show that they are abusing their monopoly positions. Wouldn't it be better for the economy & society at large if these talented people were working hard at building new & better products?

Alas, the employee would have to act ultimately.

People respond to incentives. If you can get paid 250K+ to sit around and hang out on reddit all day, why wouldn't you do that instead of busting your ass?

Re: “Rest and vest”: engineers who get paid and barely work

#62
post #34

It's not just SV that has this phenomenon. I worked at the NASA Jet Propulsion Lab from 1988 to 2000. I had risen to the rank of Senior Member of the Technical Staff, the second-highest rung on the technical career ladder. Beyond that there is the rank of Principal, which is very hard to attain. It's essentially the equivalent of getting tenure. It requires peer review. Most engineers never attain it, and I was not o…

From your linked blog post:

> The situation is particularly ironic because the argument that has been advanced for discarding Lisp in favor of C++ (and now for Java) is that JPL should use "industry best practice." The problem with this argument is twofold: first, we're confusing best practice with standard practice. The two are not the same. And second, we're assuming that best (or even standard) practice is an invariant with respect to the task, that the best way to write a word processor is also the best way to write a spacecacraft control system. It isn't.

Well said. I think I'm going to have to hold onto this argument for a rainy day.

Re: “Rest and vest”: engineers who get paid and barely work

#63
post #30
post #10

> she had been killing herself to make it more successful and protect her people from losing their jobs over it. > As tired as she was, she couldn't just quit this job. She owed a big chunk of money in taxes thanks to that stock and needed her salary to pay those taxes. > after getting violently ill at the thought of going to work Burned out and trapped by debt. Not a great place to be even with the $1mm/year compens…

Not sure how "She owed a big chunk of money in taxes thanks to that stock". One has to do really risky/dumb things with stock options to get into that scenario

All you have to do is execute them and hold. You owe taxes. Look up dual basis.

Re: “Rest and vest”: engineers who get paid and barely work

#64

Yes, but the Wall Street CEO's are sooooo hard working. Give me a break. I once worked for a company whose CEO completely ran the thing into the ground and eventually got fired but got paid millions anyhow. I jokingly said I could have ruined the company for half what they paid that meathead. I think the real scandal is the ridiculous amounts of money CEO's get paid for doing nothing in a lot of cases. The money thes…

Someone once said that your boss isn't paid more because he's better/works harder, but because only 1 of the row below can be promoted to boss, so they have to make the pay amazing, so everyone below works really hard for the company to try and get promoted.

Re: “Rest and vest”: engineers who get paid and barely work

#65
post #30
post #10

> she had been killing herself to make it more successful and protect her people from losing their jobs over it. > As tired as she was, she couldn't just quit this job. She owed a big chunk of money in taxes thanks to that stock and needed her salary to pay those taxes. > after getting violently ill at the thought of going to work Burned out and trapped by debt. Not a great place to be even with the $1mm/year compens…

Not sure how "She owed a big chunk of money in taxes thanks to that stock". One has to do really risky/dumb things with stock options to get into that scenario

[deleted]

Re: “Rest and vest”: engineers who get paid and barely work

#67
post #34

It's not just SV that has this phenomenon. I worked at the NASA Jet Propulsion Lab from 1988 to 2000. I had risen to the rank of Senior Member of the Technical Staff, the second-highest rung on the technical career ladder. Beyond that there is the rank of Principal, which is very hard to attain. It's essentially the equivalent of getting tenure. It requires peer review. Most engineers never attain it, and I was not o…

From your linked blog post: > The situation is particularly ironic because the argument that has been advanced for discarding Lisp in favor of C++ (and now for Java) is that JPL should use "industry best practice." The problem with this argument is twofold: first, we're confusing best practice with standard practice. The two are not the same. And second, we're assuming that best (or even standard) practice is an inva…

Thanks for the kind words.

Re: “Rest and vest”: engineers who get paid and barely work

#68
This article is very misleading. It's not uncommon for engineers who've been instrumental to a key product or development to be given a light duty afterwards. This is primarily because these folks bust their ass and quite literally are exhausted once their project ships. The time with light duty is meant to retain this key talent and give them back some work-life balance. Also if your thing lands and it's big enough you usually get promoted and they want you to focus on soft skill development, literally making friends, so you can go on to do something bigger. My last half, my manager told me that all he wanted me to do this half was make friends. This is because he was giving me space to find the next big thing. When you shift from task oriented work to bigger picture stuff, you can't just start building stuff thinking people will use it. You have to spend time talking to people about what problems they have and see if you can come up with a way to solve them. It's really not unlike a startup in that regard.

There's also the old joke of the mechanic that comes to fix the machine by knowing where to tap with a hammer. So having people around who know where to tap is key. They are well worth what they are getting because sites like Google, Facebook, Amazon, etc... can't go down and if they do millions of dollars are burning for each minute those sites are down.

Re: “Rest and vest”: engineers who get paid and barely work

#70
post #6

All's good when the stock price is inflated. The reckoning (cost cutting) will come.

Which is inevitable. They better saved enough money before the company wiped them out for its own existential crisis, because by then, it is hard to imagine how could they return to this ridiculous lifestyle once again.
Post reply on HN