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Google Makes Massive Counteroffers To Retain Employees

techcrunch.com

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Re: Google Makes Massive Counteroffers To Retain Employees

#51

Post by brg »

staunch wrote: post #49
btilly wrote: post #41

Let's see how crazy this is or isn't. From http://www.google.com/finance?client=ob&q=NASDAQ:GOOG I see that Google has a market cap of $184.61B. According to http://en.wikipedia.org/wiki/Google Google has $46.24B in equity, and 24,400 employees. Equity tends to add to market cap 1-1, so Google's market cap from ongoing operations and potential for growth is $138.37B. That works out to about $5,670,000 per employee .…

^ Google employee.

And staunchest defender since his first day as an SRE.

And since I'm here, btilly you have one of the best AB testing decks out there, and I thank you for that.

Re: Google Makes Massive Counteroffers To Retain Employees

#52

Post by btilly »

staunch wrote: post #49
btilly wrote: post #41

Let's see how crazy this is or isn't. From http://www.google.com/finance?client=ob&q=NASDAQ:GOOG I see that Google has a market cap of $184.61B. According to http://en.wikipedia.org/wiki/Google Google has $46.24B in equity, and 24,400 employees. Equity tends to add to market cap 1-1, so Google's market cap from ongoing operations and potential for growth is $138.37B. That works out to about $5,670,000 per employee .…

^ Google employee.

Actually not a Google employee any more. I left some months ago.

Re: Google Makes Massive Counteroffers To Retain Employees

#54

Post by btilly »

brg wrote: post #51
staunch wrote: post #49

Earlier quoted context omitted.

^ Google employee.

And staunchest defender since his first day as an SRE. And since I'm here, btilly you have one of the best AB testing decks out there, and I thank you for that.

You're welcome for that.

Re: Google Makes Massive Counteroffers To Retain Employees

#55

Post by groby_b »

jhuckestein wrote: post #42
hyperbovine wrote: post #34

Earlier quoted context omitted.

I would like to believe that the US visa laws are insufficiently moronic to be defeated by such a ploy... can anyone confirm?

The laws are moronic, confirmed. I don't know what gave the GGP the idea that salaries are publicly declared in visa filings (which are not public anyway). The laws are not THAT moronic.

As far as I know, salaries are included in H1B visa database. Ah, here's the article where somebody mined it for game developer salary: http://realtimecollisiondetection.net/blog/?p=107

Re: Google Makes Massive Counteroffers To Retain Employees

#56

Post by anonymous246 »

grellas wrote: post #50

Multiple sources close to Twitter have said that someone with access to Twitter’s most confidential information, such as who they are interviewing for key executive spots, may be leaking that information directly to Google. This sounds dubious to me. It is not only unethical for a senior Twitter employee to be leaking such information but it is plainly illegal . An employee owes a fiduciary duty to his employer to pe…

I've gotten restricted stock units (orders of magnitude less obviously), and I definitely don't recall them working like a loan etc.

The transaction is that you get N shares over a K-year vesting schedule (cliff + monthly/quarterly vesting etc). The dollar value on shares that TC published is arrived at by multiplying N by today's GOOG stock price.

This is better for the employee than cash because the stock price in one year may be higher than today. For the same reason, it's better for the company to give shares instead of cash, since they can pay out less in today's dollars.

Re: Google Makes Massive Counteroffers To Retain Employees

#57

Post by nl »

grellas wrote: post #50

Multiple sources close to Twitter have said that someone with access to Twitter’s most confidential information, such as who they are interviewing for key executive spots, may be leaking that information directly to Google. This sounds dubious to me. It is not only unethical for a senior Twitter employee to be leaking such information but it is plainly illegal . An employee owes a fiduciary duty to his employer to pe…

Whenever a company incurs a material event, it must be publicly reported in fairly short order in SEC filings. A $150 million outlay? That would seem material even for Google.

No it's not - employee compensation is an ongoing expense. You don't see Goldman Sachs doing disclosure everytime someone gets a bonus!

Anyway, Google discloses stock grants every quarter.

Stock-Based Compensation (SBC) – In the fourth quarter of 2010, the total charge related to SBC was $396 million, compared to $276 million in the fourth quarter of 2009.

We currently estimate SBC charges for grants to employees prior to January 1, 2011 to be approximately $1.6 billion for 2011. This estimate does not include expenses to be recognized related to employee stock awards that are granted after December 31, 2010 or non-employee stock awards that have been or may be granted.

http://investor.google.com/earnings/2010/Q4_google_earnings....

Re: Google Makes Massive Counteroffers To Retain Employees

#58

Post by copper »

anonymous246 wrote: post #56
grellas wrote: post #50

Multiple sources close to Twitter have said that someone with access to Twitter’s most confidential information, such as who they are interviewing for key executive spots, may be leaking that information directly to Google. This sounds dubious to me. It is not only unethical for a senior Twitter employee to be leaking such information but it is plainly illegal . An employee owes a fiduciary duty to his employer to pe…

I've gotten restricted stock units (orders of magnitude less obviously), and I definitely don't recall them working like a loan etc. The transaction is that you get N shares over a K-year vesting schedule (cliff + monthly/quarterly vesting etc). The dollar value on shares that TC published is arrived at by multiplying N by today's GOOG stock price. This is better for the employee than cash because the stock price in…

That's how RSU's work, though. AFAIK. grellas is right that there's a difference between restricted stock and restricted stock units (which in practise have a tiny, fractional price of the actual market value).

Re: Google Makes Massive Counteroffers To Retain Employees

#59

Post by jonburs »

groby_b wrote: post #55
jhuckestein wrote: post #42

Earlier quoted context omitted.

The laws are moronic, confirmed. I don't know what gave the GGP the idea that salaries are publicly declared in visa filings (which are not public anyway). The laws are not THAT moronic.

As far as I know, salaries are included in H1B visa database. Ah, here's the article where somebody mined it for game developer salary: http://realtimecollisiondetection.net/blog/?p=107

A company hiring H1-B workers must show that they're paying average+ wages for the position [1]. They need not disclose actual salaries paid to individuals, nor are they precluded from paying above market rate.

1. http://en.wikipedia.org/wiki/H1b

Employers must attest that wages offered are at least equal to the actual wage paid by the employer to other workers with similar experience and qualifications for the job in question, or alternatively, pay the prevailing wage for the occupation in the area of intended employment, whichever is greater.

Re: Google Makes Massive Counteroffers To Retain Employees

#60

Post by dotBen »

dotBen wrote: post #45
ChuckMcM wrote: post #4

This isn't an April Fools post is it? I mean seriously, if you're willing to pay $50M or $100M to keep a single employee from walking, what happens if they die on their commute into work? What sort of risk are you carrying anyway? And I didn't think I could be amazed by 'Google scale' any more, sure proves I was wrong on that.

what happens if they die on their commute into work? Then their estate would inherit whatever %age of the vesting period that they agreed. So if they had agreed, as was written on TC, $50m over two years and they died after 6 months then the estate would receive $12.5m unless there was a cliff agreed.

The above is a factually correct - are the downvotes because I gave a literal answer or because I'm not jumping on the "oh I'm outraged at these amounts" bandwagon?

If Google wants to golden-handcuff an employee with a $50 deal that's their prerogative. If you don't like it, sell your GOOG stock. If you don't have GOOG stock then why are you so worked up about it?

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