221–230 of 351 posts
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That person could probably be making 500k+ at a FANG with less variance in the stock component.
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?
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For people not living there but curious about trying it out: What's a reasonable range for "very well paid job in France"? Is it all cash or is there equity?
For a entry-level developer in a large French company you would aim a 50k€. But this is just the bare salary - you will have to take off about 20-30% for various taxes. But then you get free healthcare and education, and retirement. Some companies will have a bonus ("intéressement / participation") which can be an extra 10 to 20% once a year. You would typically have a straight salary, no equity or something like tha…
> When you look at the most senior positions, this is about 130k€.
You're being generous here. A new grad in France in engineering or development gets more often in the 40k€. The most senior positions in most companies plateau around 90k€.
In some companies in Paris it's higher, but that's the exception.
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Honestly, if you take 300k home, the risk isn't that high. But the reward is insane.
To be realistic ... 300K in the bay is barely livable if you're targeting a middle class life with kids and targeting retiring at 65. First, ~46% of it is gone in taxes including federal tax (~25%), state tax (~8%), FICA (~4%), and sales tax on everything you eventually use the money for (~9%). So that's 162K left. Not a lot to pay sky-high rents, car payments, insane medical bills despite insurance, lawyers to fight…
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That person could probably be making 500k+ at a FANG with less variance in the stock component.
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?
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 of people) virtually make above $500k.
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This is a good point. I look at 900k$ and think wow from the perspective of my very well paid job in France. Getting 900k$ a year would bring great things to me and probably make me retire earlier. This will not be life-changing though. And then I think about people who earn 5% of what I do and for them multiplying their income by two would probably be truly life changing for them. And then these 900k$ do not look th…
For people not living there but curious about trying it out: What's a reasonable range for "very well paid job in France"? Is it all cash or is there equity?
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No, Netflix pays top of market like you said “in cash”. Paying “profit sharing” in a company that isn’t profitable isn’t nearly as valuable. Edit: I love this analogy > Or to think of it another way, you're getting paid $900K a year but you're also investing $600K a year in OpenAI, which may end up being an amazing return or nothing at all, just like any startup investment. Would someone invest 2/3rds of their compen…
> Would someone invest 2/3rds of their compensation in one company? I know I diversify my RSUs within six months after getting them. I also sell my RSUs right away. But you're forgetting one thing -- if I make $600K somewhere else, I can't invest it in OpenAI. It's the opportunity to invest in a startup that you wouldn't get otherwise that is most valuable, if you think the startup will be valuable.
Can you name on tech company that went public in the past decade that has outperformed the S&P? What’s OpenAIs moat that couldn’t be duplicated by a deep pocketed public tech company like Facebook, Google or Amazon (my employer)? Two of those companies already have large publicly available data centers and an existing customer base to sell to.
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Vehicle registration fees, like many others, are 100% a blunt money collection mechanism imposed by the government. This has nothing to do with a poor or wealthy person buying a new Playstation 5.
Vehicle registration fees are a way of offsetting a small part of the massive subsidies the government gives to vehicles. If anything, they should be much higher for everyone.
If you want them to pay, tax the fuel and consumables like tyres, or put a tax based on how hard is to recycle the car once it hits the scrapper. Bit more complex with EVs I admit, but making someone pay just for keeping car even if they use it once a week is silly.
Yearly fee should be proportional to legalese required to keep it registered (paying wages), not much more.
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To be realistic ... 300K in the bay is barely livable if you're targeting a middle class life with kids and targeting retiring at 65. First, ~46% of it is gone in taxes including federal tax (~25%), state tax (~8%), FICA (~4%), and sales tax on everything you eventually use the money for (~9%). So that's 162K left. Not a lot to pay sky-high rents, car payments, insane medical bills despite insurance, lawyers to fight…
To be realistic, even in the Bay, 300k is more than livable if you're targeting a middle class lifestyle with kids and retiring at 65. If you can't retire at 65 on 300k a year, you're not living a middle class lifestyle. Not even close. Rent: 4k/month = 48k. Car payments 750/month = $9k. Using your post-tax numbers (which are wrong) that leaves over $100k per year for all the other random stuff you've listed, which i…
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The median person in SFO lives a way worse life than a median person in Ohio
Only if you define "good life" as having a big house with a big yard.
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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 payi…