I've heard (2nd hand) Microsoft also handed out SSAs ("Special Stock Awards") last month, but it's unclear how they chose the recipients (all across the level range and performance score range, though it appeared more targeted at ~3-4 year hires who are probably approaching their cliff and considering jumping).
Some Apple engineers rewarded up to $180k in stock bonuses as incentive to stay
61–70 of 272 posts
Re: Some Apple engineers rewarded up to $180k in stock bonuses as incentive to stay
#62Earlier quoted context omitted.
Yea, and that’s 30k before tax. The marginal rate is quite high for senior engineers. Most likely around 15k after tax
Is that relevant? Wouldn’t an extra $30k at a new company also get taxed the same amount?
The GP was highlighting that 30k per year is very little to keep senior talent. I was adding some perspective to how little it really is after considering taxes at the highest bracket.
Re: Some Apple engineers rewarded up to $180k in stock bonuses as incentive to stay
#63In 1979 an inflation-led recession rocked the US economy, abated for about 3 quarters, then returned for another 4 quarters starting in 1981. I expect the same to happen in the months ahead, and in that context Apple's offer is attractive. For anyone who hasn't lived through a deep recession, or an inflation-led recession (stagflation)... it really sucked.
Those recessions weren't inflation led, they were intentionally caused by the fed to break inflation.
Re: Some Apple engineers rewarded up to $180k in stock bonuses as incentive to stay
#64Well, I’d love to work for Apple, but I have no interest into moving from Minnesota suburbs to the Bay Area with all of its sanitation and ludicrous cost of living problems. If I was Apple… it was the wrong time to build fancy headquarters. You got a few years, and now the area around it is falling apart and your employees have fallen in love with remote work.
The Bay Area is 6900 square miles of land and cost of living is as high as any other metro on average per square mile. London, Tokyo, New York and pretty much every other major metropolis has problems akin to the Bay Area but we never quite as frequently refer to London or Tokyo “falling apart” the way we like to attract all our collective attention to bash the Bay Area here.
> London, Tokyo, New York and pretty much every other major metropolis has problems akin to the Bay Area
I've never lived in the Bay Area/SF so I can't comment on the problems there, but I have lived in London for the past few years.
I volunteer extensively with the homeless, and I haven't seen a fraction of what people describe in San Francisco, or anywhere near the level of antisocial behaviour or crime. Every week I'm serving food on the streets for at least a few hours; I've never once been threatened with anything other than words (and even then maybe twice with words?), never seen needles lying around (co-volunteers have, not common though), and never seen human faeces on the street.
Re: Some Apple engineers rewarded up to $180k in stock bonuses as incentive to stay
#65Apple is clearly an incredibly successful company but to take an example why would an energetic young developer ever choose to work on Apple Music over Spotify? I say this as an Apple Music subscriber but one is a company that is existentially all in and the other that sees a revenue stream. This is evident in the quality of the respective products. If you’re not in the AR/car divisions then what is the point.
Being number one can be downright boring. Spotify is incentivized to not rock the boat and keep the profits coming. It's very, very difficult to affect big and powerful change in that environment.
Spotify isn't in a position to just let the profits keep coming. In fact, they've never posted a profitable year yet.
Re: Some Apple engineers rewarded up to $180k in stock bonuses as incentive to stay
#66Fuck me, how do I position myself as a developer being poached for $200k?
Re: Some Apple engineers rewarded up to $180k in stock bonuses as incentive to stay
#67Earlier quoted context omitted.
I don't have an insider perspective on this, but from where I'm sitting, it sure looks like the giant bag of money is sufficient and Meta/Facebook hasn't had to worry about any of those things for a long time.
The giant bag of money is the tax. If they weren't having problems with retention and hiring because of the ethical dilemma, they wouldn't have to offer such a large retention bonus.
No post body was provided.
Re: Some Apple engineers rewarded up to $180k in stock bonuses as incentive to stay
#68Earlier quoted context omitted.
Yea, and that’s 30k before tax. The marginal rate is quite high for senior engineers. Most likely around 15k after tax
Is that relevant? Wouldn’t an extra $30k at a new company also get taxed the same amount?
It matters if not everything is about money.
Is 15k extra per year an effective boost to happiness?
Is 15k enough to keep working for Big Brother, in a job with very limited freedom, professionally and socially
Is 15k enough to keep working in a company that keeps users addicted to unhealthy behaviors?
Re: Some Apple engineers rewarded up to $180k in stock bonuses as incentive to stay
#69Earlier quoted context omitted.
The Bay Area is 6900 square miles of land and cost of living is as high as any other metro on average per square mile. London, Tokyo, New York and pretty much every other major metropolis has problems akin to the Bay Area but we never quite as frequently refer to London or Tokyo “falling apart” the way we like to attract all our collective attention to bash the Bay Area here.
Well speaking just for London when I lived there for 12 years before leaving commutes were as easy as jumping on the tube for 30-40 minutes, pretty reliable from a reasonably priced distance. The Bay Area sounds like actual hell in comparison.
“Sounds like actual hell in comparison” What gives that assumption?
I have been taking the Caltrain for work in the past decade, sure it isn’t the most ideal or perfect railway system in the world debatably but it sure is the workhorse of a bustling population that doesn’t get as much praise for doing it’s job.
Re: Some Apple engineers rewarded up to $180k in stock bonuses as incentive to stay
#70> "Most engineers received stock worth $80,000 to $120,000, with the bonuses provided as restricted stock units that are set to vest over the course of four years provided the employees stay with Apple and do not take jobs at other companies." Is that really a significant amount enough to ward off being poached? 120k over 4 years is 30k a year if linear. I would think at the pay scales being discussed they would get…
30k works better than you would think even though its "not that much" for these workers because of the loss aversion bias.
Not even loss aversion replicates well.