Refreshers at meets are typically 25% of the "standard" grant (so your comp will go down after 4 years unless you have outstanding performance or your director gives you an Additional Equity grant) Vesting cadence is typically quarterly or monthly.
If they are at 25% for meets, why will your comp go down? 25% times 4 == 100%
Most people don't join with the "standard" grant, they negotiate it up quite significantly.
Refreshers only being you up to the "standard" target TC (as defined by the company). So after their initial grant fully vests, most engineers will see their comp drop by a couple hundred k, even with refreshers.
This is a huge contributing factor to the low retention at big tech - it's why most people leave by the time their initial grant runs out.
If they are at 25% for meets, why will your comp go down? 25% times 4 == 100%
Most people don't join with the "standard" grant, they negotiate it up quite significantly. Refreshers only being you up to the "standard" target TC (as defined by the company). So after their initial grant fully vests, most engineers will see their comp drop by a couple hundred k, even with refreshers. This is a huge contributing factor to the low retention at big tech - it's why most people leave by the time their…
Thanks, that is my same experience as at my bigtech.
Money is time, and time that is free to choose is more freedom to spend your time how you please, and work on things that may not need to have a financial half.
> more freedom to spend your time how you please "More freedom" sounds amazing right up until the point you remember that you aren't getting a salary every month but still need to pay rent and buy food and stuff...
Having enough money to live off (or interest) is the increasing freedom.
$400k for Senior is an outlier. According to Levels.fyi - and my personal contacts - https://www.levels.fyi/t/software-engineer/locations/san-fra... Median TC - something just-south of $300k TC (not salary) is more likely. Furthermore, the higher you go, a greater proportion comes as RSUs, not cash - even if it was $400k TC, a good chunk of that is money you literally can't spend for a couple of years.
Oh dude, Levels is so out of date! Don't actually use it for serious negotiation. Levels systemically removes "outlier" offers, and people with good offers don't post until they leave 2 years later. So there's a huge lagging+dampening factor when you use Levels. It should be more of a "minimum offer" calibration. $500k for senior (L5) is kind of the expected offer these days. If you are interviewing at FAANG you are…
> $500k for senior (L5) is kind of the expected offer these days.
...I never knew I could feel so insecure about my career.
May I contact you directly for some advice and questions?
You actually can’t. There are off market and on market plans. Even though it’s by the same insurer, on market insurance is only taken by 50% of the places that take the off marketplace plans. Been down that road a few years ago and it was a disaster. Ended up getting a great plan for my company through the state chamber of commerce.
In my experience in west and northeast coast states, the plans are the same assuming they are ACA compliant. The employer even shows the same gold/silver metal level labels when you select a plan, and I’ve always had BCBS plans, which has the same networks via employer or via healthcare.gov They only things that I expect to change are total premium, deductible, out of pocket expense, copays, and network. Otherwise, t…
Reimbursemenet rates are not the same. Some doctors will accept 1 and not the other.
I used a hospital for a new baby birth. Because my plan was on-market, the provider doing delievery didn't accept it (Despite it being on the in-network list). So I got to be stuck with a ~13k bill. Was super cool.
This was back ~8 years ago, so perhaps it's all been sorted.. but I have such a bitter taste in my mouth after having to pay this out of pocket, I won't touch on-market plans with a 100 foot pole.
Vesting for each grant starts at one year and is monthly after that. So you're really only waiting one year for the first big chunk of stock to be liquid. 400k TC at Google means that you have 400k (pre-tax) liquid at the end of the year (depending on the stock price, which has historically gone up).
Where is vesting monthly versus quarterly or annual?
IIRC the vest schedule is 25% at one year and then 75% over the next three years in monthly installments.
> Common fallacy is to imagine that the exact same deal at the same price would have happened without a broker. > Without a broker you may not find a buyer at all. This only applies if your business isn't super profitable and you're looking to get rid of it. If you have a wildly successful business and you enjoy running it, you don't need to find a buyer, you can wait until one comes along.
I do deals a fair bit larger than this, and so am obviously biased, but while this sounds appealing, the fact is that only once or twice out of the couple of dozen times I’ve heard back from founders that decided to DIY their M&A have I not thought to myself “you got taken to the cleaners”. The buyers on the other side are professional buyers. They get promoted by buying great companies for as little as possible. Mos…
Agree with this. Been on quite large deal teams in non-tech. We always made fun of the lawyers and merchant banks. They bring dozens of teens to do chores, sit in on meetings where serious business is conducted (best one was 2x4 people talking in a room with 60! people in silence in Teams) and generally do nothing that is of any value to us serious business people considering the deal. At the end of the period where we’ve worked our asses of creating possible avenues of value, both the contracts and financial arrangements materialize out of thin air. This is boring paperwork of course, so we keep on joking about the absence of value added and the fact that we pay them hundreds to thousands of euros per hour to get us coffee. (This started out as a cynical post, but this is I think how it is. They add unseen value, transactions are closed without legal and financial snags, and we deal-makers should be thankful for that. You can’t spend a week pissing on commas in a contract if someone hasn’t written it first.)
I wonder if your employer sponsored plan is not ACA compliant. Health insurance has a 2% profit margin, and premiums are tightly regulated by state insurance commissioners. So a wildly different premium indicates a change in coverage, or a change in the underlying risk pool. For an annual out of pocket maximum of $10k to $18k and age rating factors capping age 64 premiums to 3x age 21, the minimum bronze/silver month…
This is very informative. I am investigating. Thank you!
I wonder if your employer sponsored plan is not ACA compliant. Health insurance has a 2% profit margin, and premiums are tightly regulated by state insurance commissioners. So a wildly different premium indicates a change in coverage, or a change in the underlying risk pool. For an annual out of pocket maximum of $10k to $18k and age rating factors capping age 64 premiums to 3x age 21, the minimum bronze/silver month…