$900k Median Package for Engineers at OpenAI
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Re: $900k Median Package for Engineers at OpenAI
#2[flagged]
Re: $900k Median Package for Engineers at OpenAI
#3Instead of traditional equity, OpenAI issues PPUs which represent a share of the profits. More details on how it works here: https://www.levels.fyi/blog/openai-compensation.html
Re: $900k Median Package for Engineers at OpenAI
#4> The tax filings also reveal previously unreported details about one of the most valuable and well-known technology ventures operating today, including the level of investment by Reid Hoffman, free Teslas for early OpenAI engineers and the skyrocketing computing bill that may have prompted it to take a $1 billion investment from Microsoft.
https://techcrunch.com/2023/05/17/elon-musk-used-to-say-he-p...
Re: $900k Median Package for Engineers at OpenAI
#5300k salary + 600k stock
Re: $900k Median Package for Engineers at OpenAI
#6Other 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
Re: $900k Median Package for Engineers at OpenAI
#7It’s incredible that in some part of the world the programmers are called “nerds” but in San Francisco are millionaires.
Re: $900k Median Package for Engineers at OpenAI
#8[deleted]
Re: $900k Median Package for Engineers at OpenAI
#9Instead of traditional equity, OpenAI issues PPUs which represent a share of the profits. More details on how it works here: https://www.levels.fyi/blog/openai-compensation.html
> 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 their mission of Artificial General Intelligence (AGI). As with any startup, there are risks associated with equity and it’s important to consider the possibility that equity can be worth nothing.
This is weird. They don’t expect to be profitable until AGI exists? Does the monetary system we have today even matter at that point?
Re: $900k Median Package for Engineers at OpenAI
#10300k salary + 600k stock
Not stock PPUs which are only worth anything if they turn a profit and according to OpenAI that isn’t happening until AGI.