51–60 of 63 posts
It's amazing that at their scale, they are still mostly in GCE. They are easily an order of magnitude larger than netflix, and at least netflix is smart enough to have built their own CDN.
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Other top companies also give signing bonuses as well as the usual vesting schedule, so I'm not sure this really evens it out.
Yeah but they don't give 2 signing bonuses right? That seems downright weird from a terminology perspective... how can you legally have 2 signing bonuses if you sign only once? :)
I personally don't see what's wrong with a N/2N/3N... vesting schedule for post-IPO companies. You're buying in long term, that's the deal. Is it sided to favor employee retention for the employer? Sure. The overall comp at AMZN is pretty competitive though. That's the deal.
It makes more sense for a fiscally stable company like Amazon, which actually sees reliable stock growth and a real business model as compared to snap with neither of those things-- but that's not a criticism of the vesting schedule, it's a criticism of snap's true value. That's the thing that would keep me from a company like that, not the length of my RSU vesting periods.
Source: ex AMZN employee
I did some accidental market research on Snap with my girlfriend's 9 year-old cousin this weekend. She had tons of snaps, but informed me that they were almost all blank images. She and her friends send each other these blank images to maintain 'streaks,' which count the number of continuous days that two people have messaged each other. So attached to these streaks were the cousin and her friends that if the 24 hour…
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I don't see how they are "very different things". That stock has a monetary value, does it not? They could offer it to their employees in exchange for a salary reduction totaling those $34M/year. Alternatively, they could have sold that stock. Or taken a loan using that stock as collateral.
> They could offer it to their employees in exchange for a salary reduction totaling those $34M/year. It doesn't really matter. If the business is unsustainable then all such moves won't cut it anyway. Businesses typically lay people off when things aren't going well, and things aren't going well for snap. They could pay them that money today but what about tomorrow?
In practice though, maybe Snap just can't grow that fast. Which is fine, but it's still sad that 220 people lost their jobs.
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Not really, that's only $155k per person. The cost per engineer is probably around $400k.
I feel so underpaid right now it's not even funny.
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Even considering insurance/benefits, stock options, and various bonuses, 400K/year is a lot more compared to 150K.
Note that the 400k/year is cost per employee, which does not directly translate to "paychecks and benefits per employee". The employer pays payroll taxes, needs to pay rent on square footage for the office to support the employee, etc. That's all going into cost per employee, but isn't money the employee sees directly.
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That's correct. Source: Current AMZN employee
Correct, however they also give 2 signing bonuses, that bring you to an "equivalent" total compensation, so at least you are getting straight cash, not hoping for a stock payout that may not come.
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That's correct. Source: Current AMZN employee
Holy hell. Are the grants massive?
I did some accidental market research on Snap with my girlfriend's 9 year-old cousin this weekend. She had tons of snaps, but informed me that they were almost all blank images. She and her friends send each other these blank images to maintain 'streaks,' which count the number of continuous days that two people have messaged each other. So attached to these streaks were the cousin and her friends that if the 24 hour…
edit: he says they've done that at least twice
Someone should let them know not to keep having layoff rounds periodically. It is better to have one deep round and that's it. What they are doing creates so much uncertainty, anxiety, and kills employee morale.