Buffer’s Salary Formula 3.0 • Hacker News Board

Re: Buffer’s Salary Formula 3.0

#61

Post by StavrosK » Thu, Jan 04, 2018, 9:04 PM UTC

ci5er wrote: post #60

StavrosK wrote: post #27

Earlier quoted context omitted.

That's my point: Getting paid less on top of not having those advantages isn't appealing to me. However, your argument is not valid: Large size doesn't imply high cost. Neither Shanghai (most populous city) nor Manila (most dense city) have higher costs of living than SF.

> Manila (most dense city) This comment doesn't take away from your point - but isn't densest either Dhaka or Mumbai?

Apparently not, Manila is considerably more dense than both, at least unless I'm reading the table wrong:

https://en.m.wikipedia.org/wiki/List_of_cities_by_population...

Re: Buffer’s Salary Formula 3.0

#62

Post by ci5er » Thu, Jan 04, 2018, 9:12 PM UTC

JustSomeNobody wrote: post #34

moxious wrote: post #22

Earlier quoted context omitted.

Not all developers care about salary first. I see this overall approach as more like flying a flag and publicly indicating culture because there's a particular crowd they want. This is how they advertise what's important to them and draw like minded people closer. That seems 100% legit to me, and super useful for any dev considering them that they're so straightforward. No one has to like it or choose it for themselv…

They should. All companies care about money first, so why shouldn't the employees? Having an awesome work culture should be something every company strives for and shouldn't make up for mediocre pay practices.

I have a question (actually two) for you...

I'm thinking about comp for a company. I'm looking to make it (I think they call it) "remote-first", because there are some fabulous people on planet earth that don't live in the Bay Area. Also, I have no intention of living in the Bay Area, so it's selfish too.

Question 1: IF I had a goal to pay every new employee 10% above market rate - should I peg that to their locale or to the highest rate market (e.g. the Bay Area)

Question 2: SINCE I intend to grow 2x~3x YoY w/ no VC investment, the VCs are not going to pressure me to have a liquidity event at any particular time. That "uncertainty" means that stock-options are a highly speculative bet on the part of of the employee(s). Would you consider 30% of your base to be adequate to make up for the lack of options that would-or-would-not make in any particular time-frame? If not - what would be a nice kicker (for you)?

Re: Buffer’s Salary Formula 3.0

#63

Post by ci5er » Thu, Jan 04, 2018, 9:15 PM UTC

StavrosK wrote: post #61

ci5er wrote: post #60

Earlier quoted context omitted.

> Manila (most dense city) This comment doesn't take away from your point - but isn't densest either Dhaka or Mumbai?

Apparently not, Manila is considerably more dense than both, at least unless I'm reading the table wrong: https://en.m.wikipedia.org/wiki/List_of_cities_by_population...

Woah! If that is true... wait. I see that they've shrunk the square-mile definition of "Manila" proper in this table.

That makes sense. Thank you for the reference.

You know - it's funny. Paris rates above Hong Kong (which does not even appear in the table), and Paris never felt (to me) as dense as HK. Even Manila never felt (to me, subjectively) as dense as HK.

Re: Buffer’s Salary Formula 3.0

#64

Post by humanrebar » Thu, Jan 04, 2018, 9:28 PM UTC

moxious wrote: post #54

jasonkester wrote: post #26

Earlier quoted context omitted.

Negotiating your market rate isn't caring about money 'first'. It's caring about money 'at all.' They're different. Leaving $50k/year on the table at age 30 will move your retirement date back ten years. It takes a lot of culture to make up for that.

Remember, labor is just another thing we buy and sell. In other markets, like those for cars, there are specialists that focus on naming fixed, non-negotiable prices. What buffer is doing seems pretty similar. Like I said, the market has lots of options for devs. I don't know if they're $50k off...when I said not all devs care about salary, I'm talking about the last 10%. I don't know anybody who ignores $50k.

When you're netting $20k a year into your 401k, mortgage, principal, and long term savings, $10k is a lot of money.