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Along with layoffs the company killed the cupcake budget. (Mind you the stock is sky high and they’re raking in cash.)
If a company doesn’t think your decade of commitment to making them money merits a fucking cupcake, it goes without saying you’ll get screwed on comp.
I wonder how stock options play into this. Assuming you have generous stock options in a thriving company, wouldn’t it be worth it to stick out 3-4 years for a majority of that equity?
Take the pay increase vs the equity every time. Plus by changing 5 times, I diversified my equity on more companies and ensured something hit at least a little.
Though at some point it feels like you reach a ceiling even if you change jobs.
At which point your only options is (unless you're in the) FAANG or making your own business if you're in tech (or relatable ish businesses). Or moving to a low cost of living state / city. I feel like the ceiling for me is awful, since in Florida the cost of everything is going up, but companies aren't willing to pay competitive salary, despite boasting about it, they all seem to pay standard / average pay.
FWIW I'm actually coming out of a 3 year hiatus making 50% more than the FAANG position I left in 2021.
Though at some point it feels like you reach a ceiling even if you change jobs.
I wonder how stock options play into this. Assuming you have generous stock options in a thriving company, wouldn’t it be worth it to stick out 3-4 years for a majority of that equity?
With options, there's always a risk that they will be worth nothing, or very little. I would rather have some options in several companies than a lot of options in one to increase the chance that some of them will be valuable. That approach does require you to buy the options, whereas staying at one company means you can delay the purchase
Problem is, my part of the company isn't in Houston, so qualified employees are hard to find. So we need to hold on to people, which is hard when we rarely hand out raises. I do my best to train up my guys, but I know that they're probably going to move on in a couple of years. My goal is to make an enjoyable environment so that they'll come back eventually at a higher pay rate.
My best worker - the one I'm training up to be a lead - is the lowest paid member of the team, and I can't do anything about it. It sucks.
I wonder how stock options play into this. Assuming you have generous stock options in a thriving company, wouldn’t it be worth it to stick out 3-4 years for a majority of that equity?
Never put your savings into the stock of the company you work for. If (as happens) the company goes bankrupt you can be out of a job and all your savings at the same time. The only exception is if you have reason to believe you will be CXX - at that level (or one below in some cases) your stock owners is published to shareholders and they look for high levels to show you have your personal wealth on the line for the company - and you also have enough power to do something about it. (most of us don't have enough power for anyone to care what we think). Stock options are the same as any other stock: don't put your net worth into it.
I have long ago learned that until the money is in my bank account it isn't mine. Sometimes the promised $$$ arrives, sometimes it does not. But always I want to see the money.
Earlier quoted context omitted.
I assume it will always be true outside of employees who are exceptionally VIP or employees selling to union/government roles that are compensated strictly according to length of tenure. The employer gets labor at a lower price, and the employee gets lower volatility. If you want the best price, you have to do the work to keep buying and you have to do the work to keep selling, only way any market can work.
Except the employee isn't guaranteed lower volatility. At. All.
The former is not controllable from the perspective of a labor seller, but the latter is. Whether or not the tradeoff is worth it is dependent on the seller and always in flux.
I would say the tradeoff is usually not worth it.