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$900k Median Package for Engineers at OpenAI

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Re: $900k Median Package for Engineers at OpenAI

#341

Post by seanmcdirmid »

glimshe wrote: post #338
seanmcdirmid wrote: post #316

Earlier quoted context omitted.

Are you sure they aren’t pulling your leg? I’m an L5 in Seattle and I don’t see that much (still well paid, just not that well paid).

I am 100% sure, I saw the paycheck.

Ah, I really don't believe you now since much of that income is going to be from a once/year stock grant. There is no way you could tell how much they were making by looking at their paycheck (well, pay stub, who gets paychecks anymore?).

If you saw their w2 or 1040, your claim would be more credible, since that's when most of us learn how much we actually made in the previous year.

Re: $900k Median Package for Engineers at OpenAI

#343

Post by scarface_74 »

seanmcdirmid wrote: post #340
scarface_74 wrote: post #339

Earlier quoted context omitted.

Population is decreasing in all four of California’s largest cities. https://www.sfchronicle.com/politics/article/california-popu... And house prices are declining in Seattle. https://www.king5.com/article/money/economy/seattle-housing-... Why live in a high cost city when more jobs are remote?

> Population is decreasing in all four of California’s largest cities. Again, this is a "It's too crowded so no one comes here anymore" problem, not a "California sucks, let's leave" problem. If you can't make it economically in SF or LA, move to somewhere like Atlanta where making it economically is easier. Housing prices fall a bit, from $2 million for a starter house to $1.9 million, but they just as quickly go ba…

> work remote in Seattle and love it (but my wife has to RTO, so we still need to be here). But I guess if someone isn't great at math, an LCOL city is probably a better choice anyways, since they don't have to think so hard about the math and can justify their choices with simple click-bait-style narratives.

So exactly how does it make more financial sense to live somewhere that is more expensive than somewhere much less expensive making the same money?

What’s the mortgage on that 2 million dollar home compared to mine?

And I’ve been to Seattle a number of times. That’s where my employer’s headquarters is located. It’s a dreary place.

Re: $900k Median Package for Engineers at OpenAI

#344

Post by deanmoriarty »

seanmcdirmid wrote: post #341
glimshe wrote: post #338

Earlier quoted context omitted.

I am 100% sure, I saw the paycheck.

Ah, I really don't believe you now since much of that income is going to be from a once/year stock grant. There is no way you could tell how much they were making by looking at their paycheck (well, pay stub, who gets paychecks anymore?). If you saw their w2 or 1040, your claim would be more credible, since that's when most of us learn how much we actually made in the previous year.

The paycheck statements at my FAANG include the amount of RSU vested YTD, and each vesting event generates a separate paycheck as well. Vesting schedule is also typically monthly these days, with no initial cliff. What is yearly is any refresh grant, but then even those vest monthly.

If you look at one you have a pretty good way to extrapolate the expected TC for the year.

Re: $900k Median Package for Engineers at OpenAI

#345

Post by glimshe »

seanmcdirmid wrote: post #341
glimshe wrote: post #338

Earlier quoted context omitted.

I am 100% sure, I saw the paycheck.

Ah, I really don't believe you now since much of that income is going to be from a once/year stock grant. There is no way you could tell how much they were making by looking at their paycheck (well, pay stub, who gets paychecks anymore?). If you saw their w2 or 1040, your claim would be more credible, since that's when most of us learn how much we actually made in the previous year.

My "claim"? I don't know what else to say, buddy. You believe me if you want, I help my friend with taxes so I've seen everything relevant and simply called "paycheck".

I'm trying to be nice to you by sharing information you can use in your future negotiations, but it seems you're just angry you are not making as much as my friend. Maybe next time I should just let you leave 100K+ on the table and go on with my life.

Also, doesn't Google famously have an internal spreadsheet where people share their salary anonymously? You can check that too if it still exists.

Re: $900k Median Package for Engineers at OpenAI

#346

Post by TechBro8615 »

fragmede wrote: post #324
TechBro8615 wrote: post #55

Earlier quoted context omitted.

FAANG employees sure are full of themselves considering they've worked at companies that have failed to innovate for two decades. What was the last successful product that Google launched with all their highly paid engineers?

it's not a product, but that transformers paper that came out of there is proving to be pretty, er, transformative

Not for Google, though...

Re: $900k Median Package for Engineers at OpenAI

#347

Post by DropInIn »

deanmoriarty wrote: post #224
moralestapia wrote: post #213

Earlier quoted context omitted.

I read this here and there and don't doubt it, but then again I've never seen/met anyone IRL (outside of C-level) making this much money as an employee. Are they just extremely rare cases or am I just not aware of the valley and their customs?

I believe you are just not aware. C-Level folks make many millions a year, either liquid or paper. I am at FAANG and virtually everyone at L6 (staff Eng level, many thousands of people) is paid at least $500k, with monthly liquidity (no cliff). With a bit of luck stock wise, it’s also not uncommon at all to get to $500k+ at L5 (senior eng level, many dozens of thousands of people). Everyone in my SF network (hundreds…

With a GDP per capita of just about 50k, that means each of those people earn no less than 10 shares of the nation's wealth...

That means 10 people have to be completely destitute to achieve that level of distribution...

Though GDP can always grow, the simple truth is that a nation has a fixed amount of production in any given year and this shit is a disgusting manifestation of the imbalances of its distribution.

Re: $900k Median Package for Engineers at OpenAI

#348

Post by marvin »

BrandoElFollito wrote: post #333
marvin wrote: post #259

Earlier quoted context omitted.

I'd call "may retire, or work on whatever you want for the rest of your life, after a few years of saving" life-changing.

Twice my salary will not allow me to retire much earlier and sustain my level of living. Maybe ay 1M€/year that would be doable.

If you don't increase your standard of living, it will. (Or the other caveats of course; assuming you're not already close to retirement, impending economic catastrophe or whatever).

Doubling salary post-tax will at the very least put you at a 50% savings rate, and that yields a time from zero to financial independence of 16.5 years. Assuming historically-similar stock market returns and a safe withdrawal rate of 4%. This relationship does not depend on absolute numbers beyond those stated above, only savings rate.

Most likely you'd not be starting from zero and having a positive savings rate already. Whether you'd be comfortable doing this is a different question. Many would never be, and hence never completely comfortable retiring.

Re: $900k Median Package for Engineers at OpenAI

#349

Post by deanmoriarty »

DropInIn wrote: post #347
deanmoriarty wrote: post #224

Earlier quoted context omitted.

I believe you are just not aware. C-Level folks make many millions a year, either liquid or paper. I am at FAANG and virtually everyone at L6 (staff Eng level, many thousands of people) is paid at least $500k, with monthly liquidity (no cliff). With a bit of luck stock wise, it’s also not uncommon at all to get to $500k+ at L5 (senior eng level, many dozens of thousands of people). Everyone in my SF network (hundreds…

With a GDP per capita of just about 50k, that means each of those people earn no less than 10 shares of the nation's wealth... That means 10 people have to be completely destitute to achieve that level of distribution... Though GDP can always grow, the simple truth is that a nation has a fixed amount of production in any given year and this shit is a disgusting manifestation of the imbalances of its distribution.

Now do the same calculation with a tech CEO earning $100M+ a year.

Re: $900k Median Package for Engineers at OpenAI

#350

Post by DropInIn »

deanmoriarty wrote: post #349
DropInIn wrote: post #347

Earlier quoted context omitted.

With a GDP per capita of just about 50k, that means each of those people earn no less than 10 shares of the nation's wealth... That means 10 people have to be completely destitute to achieve that level of distribution... Though GDP can always grow, the simple truth is that a nation has a fixed amount of production in any given year and this shit is a disgusting manifestation of the imbalances of its distribution.

Now do the same calculation with a tech CEO earning $100M+ a year.

I have many times, the point is the same: They all get an absurd percent of the pie despite being less productive for the essential needs of society than the average construction laborer.
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