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$900k Median Package for Engineers at OpenAI

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Re: $900k Median Package for Engineers at OpenAI

#291

Post by scarface_74 »

kortilla wrote: post #280
scarface_74 wrote: post #131

Earlier quoted context omitted.

Only at a deep “we buy ugly houses” type of discount and only if the company allows it and if there is a market for it. Like I said earlier, I know the value of my “equity” in a publicly held company: =GOOGLEFINANCE("AMZN", "price")* (number of shares). I can log into Fidelity and sell my shares during hours when the market is open and not at a discount.

> Only at a deep “we buy ugly houses” type of discount and only if the company allows it and if there is a market for it. This is incorrect. There is often significant unmet demand for private successful companies. Employees can often sell at close to what investors end up paying for it.

A startup that isn’t making a profit is by definition “not successful”.

Re: $900k Median Package for Engineers at OpenAI

#292

Post by yuliyp »

markus_zhang wrote: post #67

Now the problem is how to get into this kind of companies. Is LC hard mandatory for junior-senior (below lead) IC job?

LC hard shouldn't be needed for almost any companies except ones which are delusional. LC hard are there as practice for programming contests.

Re: $900k Median Package for Engineers at OpenAI

#293

Post by paulryanrogers »

xwdv wrote: post #255
paulryanrogers wrote: post #143

Earlier quoted context omitted.

Those skill sets aren't interchangeable.

There is very low barrier to entry for being a developer. The only thing separating an unskilled individual and a developer is learning time.

People have different thresholds and capabilities. IME even if they could grind through the learning curves most don't have the desire or logical reasoning skills to be even mediocre programmers. Keep in mind too that it's still culturally uncool, despite a few bubbles of nerd hype.

Re: $900k Median Package for Engineers at OpenAI

#294

Post by leoh »

seydor wrote: post #107
ldjkfkdsjnv wrote: post #6

Other 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

overpaying is going to attract the wrong people

I think this is often, but not always true. I think it's not true (and rational for employers) if they:

* have a set of interview questions that help clarify they have the "right" kind of person

* have a performance review process that ensures that hired individuals continue to engage in ways that are understood to be most useful to the company; i.e. that validate (or invalidate, as the case may be) hiring practices

Re: $900k Median Package for Engineers at OpenAI

#295

Post by jedberg »

prepend wrote: post #254
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…

> staff Eng level, many thousands of people I don’t work at a FAANG so I could be totally off but I think there’s only about 1,000 L6+ at google [0] and they employ the most. So it’s not thousands of people at this level within a company. Maybe only a few thousand in total of all companies in the US. [0] https://www.quora.com/How-many-people-are-at-each-level-of-t...

I can tell you for certain that that number is off by a few orders of magnitude

Re: $900k Median Package for Engineers at OpenAI

#296

Post by xwdv »

paulryanrogers wrote: post #293
xwdv wrote: post #255

Earlier quoted context omitted.

There is very low barrier to entry for being a developer. The only thing separating an unskilled individual and a developer is learning time.

People have different thresholds and capabilities. IME even if they could grind through the learning curves most don't have the desire or logical reasoning skills to be even mediocre programmers. Keep in mind too that it's still culturally uncool, despite a few bubbles of nerd hype.

Those are myths that developers use to gatekeep the software industry.

You don’t need a special mind to be a programmer, you just need to have a willingness to do this work. Which many people don’t.

Re: $900k Median Package for Engineers at OpenAI

#297

Post by occamsrazorwit »

giantg2 wrote: post #12

It's always interesting to think about how someone somewhere is earning as much as you earn in a decade or lifetime in a single year. Also that you are that person for someone else.

> you are that person for someone else

Especially if you're American. Gallup [1] reports:

> The median annual household income worldwide is $9,733, and the median per-capita household income is $2,920

Even among developed nations, Americans get paid more.

[1] https://news.gallup.com/poll/166211/worldwide-median-househo...

Re: $900k Median Package for Engineers at OpenAI

#298

Post by refurb »

rafram wrote: post #195
refurb wrote: post #147

Earlier quoted context omitted.

The sole proprietor is also able to get a tax deduction on his truck that the developer can't.

Only if he uses it for work ( exclusively for work, if you ask the IRS). And he’s paying double in payroll taxes - sole proprietors/self-employed workers pay 15%, employees pay 7.5%.

Yes, it would have to be a full time work vehicle.

And sure they are paying double payroll tax, but they also get to deduct all their expenses associated with employment (customer dinners, internet, computer equipment, mileage to customers, etc).

Re: $900k Median Package for Engineers at OpenAI

#299

Post by pkd »

dumbaccount123 wrote: post #121
BrandoElFollito wrote: post #97

Earlier quoted context omitted.

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…

Are you here to just brag? Also the dollar sign goes on the other side.

Currencies are formatted differently in different locales, even foreign ones.

Re: $900k Median Package for Engineers at OpenAI

#300

Post by sangnoir »

moralestapia wrote: post #243
johnmyleswhite wrote: post #217

Earlier quoted context omitted.

Have you met any IC8+/D1+ working for Meta in the US?

Honestly, no. I mainly hang out w/ people from Europe and random parts of the States (like MA, they're paid good but not THAT good). Dumb question maybe, but now I'm curious. What does it really take to land a job like this one? Luck? Your network? Experience? All of it?

Luck, experience, and lots of Leetcode. Networking can get you a referral for an interview, but you definitely need the former.
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