$900k Median Package for Engineers at OpenAI • Hacker News Board

Re: $900k Median Package for Engineers at OpenAI

#41

Post by TenJack » Sat, Jun 24, 2023, 5:09 PM UTC

ed25519FUUU wrote: post #34

jedberg wrote: post #28

Based on what I've seen/heard, they seem to follow a similar comp philosophy to Netflix -- pay top of market to get the best people. But it's also important to note that only $300K of that is in cash. The other $600K is in profit participation, which could take years (maybe even a decade!) to be realized. It could also be worth $6M a year when it's realized. But ultimately it's an investment of your time. Or to think…

I guess the first part of that is like netflix, but as you know the second part is not since netflix is 100% cash unless you want to participate some portion of that in the employee stock plan.

The part about paying top of market to get the best talent is the same. The breakdown of comp is not.

Re: $900k Median Package for Engineers at OpenAI

#42

Post by rr808 » Sat, Jun 24, 2023, 5:09 PM UTC

antisthenes wrote: post #25

giantg2 wrote: post #12

It's always interesting to think about how someone somewhere is earning as much as you earn in a decade or lifetime in a single year. Also that you are that person for someone else.

Is it interesting? I am that person for myself, for my first year in the workforce. I am also that person for myself when I was studying in college. I think it is only interesting in the case when you are performing the exact same job, and yet the compensation varies by an order of magnitude or more.

I think the point is people earning $8/hr 40 hrs/wk 40 years = $665k total for a lifetime's work. Of course most people in the world earn much less than this.

Re: $900k Median Package for Engineers at OpenAI

#43

Post by JKCalhoun » Sat, Jun 24, 2023, 5:09 PM UTC

giantg2 wrote: post #12

It's always interesting to think about how someone somewhere is earning as much as you earn in a decade or lifetime in a single year. Also that you are that person for someone else.

I find it interesting too. Also interesting to see how I measure with regard to my parents.

Re: $900k Median Package for Engineers at OpenAI

#44

Post by danielvaughn » Sat, Jun 24, 2023, 5:09 PM UTC

Trasmatta wrote: post #21

Looks like they don't hire remote, otherwise I would absolutely be applying right now...no way am I moving to SF. (Not that I think I would have a realistic chance, since I'm sure they're getting the best of the best applicants right now. But still.)

Same, and the base salaries from their actual job listings were mostly 200-270K per year. Definitely not a bad salary, but not worth it given the cost of SF living.

Re: $900k Median Package for Engineers at OpenAI

#45

Post by m3kw9 » Sat, Jun 24, 2023, 5:09 PM UTC

You better perform with that pay

Re: $900k Median Package for Engineers at OpenAI

#46

Post by JKCalhoun » Sat, Jun 24, 2023, 5:10 PM UTC

nsxwolf wrote: post #36

So do you gotta grind leetcode for this or what

Guessing they're looking at degrees and/or experience.

Re: $900k Median Package for Engineers at OpenAI

#47

Post by [deleted] » Sat, Jun 24, 2023, 5:10 PM UTC

wmf wrote: post #37

almost_usual wrote: post #9

Earlier quoted context omitted.

> It’s important to reiterate that the PPUs inherently are not redeemable for value if OpenAI does not turn a profit. That said, there are investors that have been willing to pay for these PPUs and that’s where the value being told to candidates is derived from. > In conversations with recruiters we’ve heard from some candidates that OpenAI is communicating that they don’t expect to turn a profit until they reach the…

If OpenAI has a monopoly on AGI within the current neoliberal capitalist framework they'll make trillions before the system collapses. It's like Aramco but bigger.

[deleted]

Re: $900k Median Package for Engineers at OpenAI

#48

Post by sunk1st » Sat, Jun 24, 2023, 5:10 PM UTC

nsxwolf wrote: post #36

So do you gotta grind leetcode for this or what

you grinding leetcode is how they built this in the first place

Re: $900k Median Package for Engineers at OpenAI

#49

Post by biztos » Sat, Jun 24, 2023, 5:10 PM UTC

jdm2212 wrote: post #13

ldjkfkdsjnv wrote: post #6

Other companies nickel and diming engineers think they are somehow getting something for free. All the highest performing companies in the world pay insane amounts to their programmers

Paying someone a lot doesn't magically make them a good engineer. You have to actually hire the best people, and there's only so many of them to go around.

I'm sympathetic to this argument, because I know both low-quality and high-quality engineers at most FAANGs, but in principle isn't offering a lot of money a good way to attract talent?

In the case of OpenAI you also have interesting tech and a brand that will massively accelerate your career if you want to stay in that field. So while yeah, you have to hire the best people; and OpenAI like everyone else will be paying $LOTS to a few useless engineers in the mix, I think "$900K and everyone knows it" is a pretty good substitute for talent-spotting, which anyway can't be bought.

Re: $900k Median Package for Engineers at OpenAI

#50

Post by [deleted] » Sat, Jun 24, 2023, 5:11 PM UTC

wmf wrote: post #29

almost_usual wrote: post #10

Earlier quoted context omitted.

Not stock PPUs which are only worth anything if they turn a profit and according to OpenAI that isn’t happening until AGI. https://www.levels.fyi/blog/openai-compensation.html

OpenAI PPUs are no different than stock in a growing-but-unprofitable company like old Amazon. You don't have to wait for dividends; you can sell your PPUs to speculators who expect returns in the future.

[deleted]