Hands down, the number one problem in hiring and retaining senior engineers is being able to match the compensation level. FAANG-type companies have a huge difference to practically everyone else. Startups, especially, can’t match the salary, and few make up for it in equity comparable to the risk level engineers take on by accepting the job. Senior engineers typically know better, and so you end up with mid or even…
I find this "salary first" a little bullshit too. For the most part it's true, but it's not strictly true. If Amazon offers me $180k but I need to work like a slave, but a startup offers $150k but is very chill, I'm gonna choose the startup.
And the stock grants won't begin to compare.