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I chose Facebook over Uber on 1/18/2019, which grossed me $92k.

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Re: I chose Facebook over Uber on 1/18/2019, which grossed me $92k.

#21

Post by heyoni »

gnu8 wrote: post #17
huntermonk wrote: post #11

Earlier quoted context omitted.

From February until October 5th, I lived at [NEMA]( https://www.rentnema.com/ ) downtown in SF. I was in a 450 sqft. apartment, and it was $3270/month. I absolutely hated it. NEMA was fine, but SF is not for me. On October 5th, I just moved down to Menlo Park next to FB. I'm in a 3BR 1BA which is $1850/month. It's much better here.

Still not great. It hardly makes sense to pull $300k/yr just to pay it all out to a landlord.

At $300k/year, your weekly paycheck is roughly $3300 after withholdings...I’d hardly say that all your cash is going to your landlord.

Re: I chose Facebook over Uber on 1/18/2019, which grossed me $92k.

#23

Post by Traster »

I think most people should understand by now, these massive option grants are basically playing roulette with a huge chunk of your remuneration package. It's meant to align your interests with the company but let's face it - no one starting at facebook today will have any meaningful impact on the share price as an individual. Instead it's a great way of companies making their employees take significant risk.

When I graduated I could have worked at 3 generally similar companies, the lowest salary offer was £27k, the highest was £35k, all had significant RSU packages (nothing like crazy US numbers). In the 5 years following my graduation, 1 company got bought by Intel providing a 50% pop for the share price, 1 company got bought by Softbank providing a 50% pop for the share price, 1 got eviscerated by Apple and practically destroyed the share price. There was no meaningful way of knowing which way any of those would go. As a graduate I had no real chance of impacting the shareprice of those events. Yet for some reason between 0-30% of my renumeration was determined by it!

Re: I chose Facebook over Uber on 1/18/2019, which grossed me $92k.

#24

Post by Traster »

cityzen wrote: post #13

This feels like a weird, socially awkward humblebrag

I think there's some real value in people openly actually laying out what their compensation package is, how it worked out and the risks involved is actually really valuable. Obviously we shouldn't be making too many decision from anecdotes, but more awareness of peoples' compensation in the industry is a good thing.

Re: I chose Facebook over Uber on 1/18/2019, which grossed me $92k.

#25

Post by windexh8er »

heyoni wrote: post #21
gnu8 wrote: post #17

Earlier quoted context omitted.

Still not great. It hardly makes sense to pull $300k/yr just to pay it all out to a landlord.

At $300k/year, your weekly paycheck is roughly $3300 after withholdings...I’d hardly say that all your cash is going to your landlord.

They're not getting paid $300k a year. They're getting paid $160k a year and the delta is made up in RSU. I'm not sure how FB transacts on stocks for you but depending how they deal with the taxes involved OP could be off by a large factor in the net calculation. Also not sure how FB vests stock, but if it's traditional OP still hasn't vested anything (1 year cliff).

Re: I chose Facebook over Uber on 1/18/2019, which grossed me $92k.

#28

Post by huntermonk »

windexh8er wrote: post #25
heyoni wrote: post #21

Earlier quoted context omitted.

At $300k/year, your weekly paycheck is roughly $3300 after withholdings...I’d hardly say that all your cash is going to your landlord.

They're not getting paid $300k a year. They're getting paid $160k a year and the delta is made up in RSU. I'm not sure how FB transacts on stocks for you but depending how they deal with the taxes involved OP could be off by a large factor in the net calculation. Also not sure how FB vests stock, but if it's traditional OP still hasn't vested anything (1 year cliff).

It's not traditional actually. We vest quarterly, and I've sold my stock as soon as I've received it (two vest days so far). My third vesting is November 15th.

The last picture gives you my estimated total comp for the year, $343k. It will be something close to that unless $FB has a major change between now and next vesting date in February 2020.

Re: I chose Facebook over Uber on 1/18/2019, which grossed me $92k.

#29

Post by boring_twenties »

cityzen wrote: post #13

This feels like a weird, socially awkward humblebrag

How so? It seems to be a pretty standard compensation package for a software developer in California, and his post is clearly targeted at that audience.

To my mind, in order to be a humblebrag, he'd have had to be posting about a much higher income than his target audience. E.g. posting this same thing to a general audience, not other Silicon Valley devs. Or posting to the same audience, but about a $500k+ income.

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