$342,546/Yr - But At What Cost?
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- เผยแพร่เมื่อ 9 มิ.ย. 2024
- Have Companies & The US Government Pay You!
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Working at big tech is currently by far the most lucrative job path in the world. Fresh college grads can earn nearly $200,000 and it only goes up from there. But, the reality is that these high salaries and perks don’t come for free. Like with anything, the output is very much equal to the input, and let’s just say, it’s not exactly easy to survive at big tech. While we often hear about rest and vesters and slackers, the reality for the average FAANG engineer is a lot different, especially with the recent layoffs and budget cuts. You see, working at companies like Netflix is much less like a job and much more like being a professional athlete. In fact, that’s how Netflix describes it on their official careers page. And unless you’re constantly putting out top-tier performance, you’re gonna be cut from the team regardless of your previous contributions or seniority. But, oftentimes, there doesn’t even need to be consequences to get these engineers to work really hard given that they only hire high achievers to begin with. This video explains the difficulty of working and surviving in big tech and why the big salaries aren’t as generous as you might think.
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Timestamps:
0:00 - Big Tech Culture
2:29 - Pressure Cooker
6:12 - Good Cop Bad Cop
9:40 - Earning Your Wage
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I got rejected from a job at google after making it all the way through three rounds of interviews. Saw the next year they laid off thousands of entry level employees. A blessing in disguise tbh
Where did you end up getting hired?
@@TH-camShadowCensors The same thing happened to me here in Canada, got rejected and the people who got hired are now fired damn it really sucks
Exactly. Selection bias is the CORE of Big Tech’s activities. But even after you get selected as a good slave, you’re still easily expendable
Not really. A year at Google would get you a much higher salary at the next job if you were made redundant.
@@TH-camShadowCensorsYes if he doesn't state that then this comment doesn't make any sense.
There's a reason why FIRE exists and it's because Big Tech is only sustainable for 10 years, then you literally burnout and retire.
10 years at 200k a year is all ya neeeeeed
@@SyntaxWyntaxYee
I know plenty of people who have been in big tech for longer than that and haven't burned out
What is FIRE?
@@future62 I mean if you can sustain the grind, you might as well.
To summarize the video: Working for Big Tech is basically the same as working for almost any other company but you get paid more. Most of the things you mentioned are things that people already have to endure for much lower salaries.
Yep, I remember my first "corporate" job I ever had and if you compare the actual things that occurred and tasks you needed to do... They were exactly the same. I just got paid 8x more. It also made me laugh at how ridiculously unfair it fundamentally is when I got my first paycheck. The overwhelming majority of people working at those companies are hilariously overpaid.
Not necessarily. There are many tech jobs which are either fun or moral. Plenty of people are working in healthcare R&D from the tech side in a positive way. I work in video game development which has issues with crunch but I'm still doing my dream job at the end of the day. Big Tech or Fin Tech would pay 2x-3x my salary easy. The moral issues in addition to lack of passion for enterprise software keeps me away.
So like being a surgeon, or an investment banker. High salary, lots of stress and responsibility
I got a challenging job but there is no pressure. I work at my own pace. 80k a year without o.t
Pretty sure you don't end up in hyper competitive environments full of hyper competitive people with type A social climbing personalities in just any other company... Those types of people congregate in certain places and it's typically not your random no-name software shop.
This is why I prefer to be self-employed. I don't care how much salaries they pay.
Good for you
I like hiring self employed people than tenured people for my business as well. They’re more sincere
thats why i do onlyfans
But at the same time you're dependent on your customers, the economy and you're taking the risk that something could go wrong with your personal business. And at the same time you're risking that your capital investments could lose you money (which is of course really dependent on the industry).
@@egal1780 That's true, but in the end, it is worth it.
Honestly, I really hate fake tweet thumbnails. I don't know who started it, but it's just another form of clickbait.
Well I'm glad this kind of business model would definitely not work in Europe. At least in a majority of the countries it wouldn't. What I mean with that is, that everyone would at least take 25-30 days off and even if they serve dinner at 8pm, a lot of people would just clock out and do other stuff in their free time until it is time for dinner
No need to clock out we do our own timecards. Anyway you can go workout, swim or play ping pong anytime you like during the day or night.
The same companies hire in Europe and pay a third the wage with worse benefits. Less time off, no free breakfast lunch dinner, no free bus service from your house to the office, etc.
The job market in the United States for technology is magnitudes better in every facet compared to Europe and everybody knows it. stop with the Europoor MuH rEgUlAtIoN cope. It sucks
I was thinking the same… imagine giving (for example) the French unlimited vacation and then some US managers being surprised that offices would be half empty throughout the year, hilarious! 😄🥳🙃
I think the US is a nice middle between the extreme work culture of east asia vs the relax culture of europe.
This is why Europe had been stagnating while US and Asia are growing.
An awesome book about Netflix is "no rules rules", by reed hastings. I actually prefer how straightforward and forthright Netflix is. Their section on unpaid time off explains how it benefits the employee but only if the company does it a certain way.
Agreed, much better to do it transparently like Netflix does
I work at a FAANG and told a group of high school kids to treat a career in tech as being an athlete. It’s not a longevity career and the smart people plan their career arc viciously from the start
How hard was it to get into FAANG? What type of education and/or experience did you need?
@@McFlashh pretty hard or at least takes some work. Need to study for exams. I have a non CS degree, but experience for a few years as a web dev. Just find an in or build experience on side projects/working on studf and study for exams
@@remixisthis What degree do you have, and what exams did you study for?
That is excellent advice. What you want should not be working for FAANG, working for FAANG should be seen as an investment, I give x effort and years and in exchange I get money and a strong resume, what you do with the money and the resume is what your focus should be. Getting into FAANG is as simple as a video game grind, it even rarely takes that much talent, everyone by now knows what they need to do and how to hack it, (few are willing and are always looking for shortcuts..) hell there's even books titled "how to hack the interview", but 16-18 year olds are much more likely to fall for "best place to work" and the extensive organizational psychology that is designed to steal their years and make them think something like working for FAANG forever is a goal.
@@bn2247 This
As someone who is studying to work in big tech, I always find pretty shocking how this companies manage to make their employees do more by offering things that are apparently super friendly and convenient.
That being said, life is a marathon and so is work, that's one of the reasons why this is not a deterant for me (neither a motivator). The main reason I want to work in big tech is to make something that matters and develop something that is worth my life, my years and my sanity.
Indeed. I work at big tech and it's the most hectic job I've ever had. But I also feel energized going to work and feeling that I'm building something exciting. It's a great thing to do in your prime years.
If you want to build something exciting and new you should work at a start-up making something exciting and new, not work to make the newest version of Office or Gmail or some other already existing software product where the best you can do is some marginal improvement.
@RealHumanUser
Gotta love to read his coding comments or engineering documentation.
Not really. While it can be important if in some roles; Generally we care more about logic, domain knowledge and problem solving - which is why math is important. If you want to dunk on someone go for their naiveté / lying about their life's work having meaning and keeping their sanity. They could choose to pursue a career doing something without a 1% acceptance rate, high salary, obvious detrimental effect on society, and known burnout. @@RealHumanUser
Lol, I hope you get your reality checked 😂 You're not the first
I good amount of people in big tech go on to leave and build their own stuff. :)@@legolas66106
As a software developer in non "big tech" your videos are causing me serious depression hearing how much these people make doing pretty much the same thing in doing. I was idiot for not moving out west after school.
If you want to feel better, in Portugal where I live in, a Junior makes 14k/year and a Senior with multiple years of experience makes 60k/year
Look up the cost of living for these cities. You might be making less, but chances are your money is going farther.
@@TotalBorroto yea but it's been 10 years since school and I'd need to review a lot of stuff to pass the interview. So yea I guess I need to stop being lazy.
@@pedromarques9267 thanks that does make me feel better lol
@@4m470 cost of living is trivial compared to those monster salaries.
I honestly thought this was well known. The reason software engineering at big tech pays like investment banking/business consulting/big firm law is because you're expected to *work* like you're in one of those fields ie 60-100 hour workweeks barely any vacations and implicitly agreeing to give away your 20s in return for money.
Wrong my friend at Microsoft works only 20 hours on average of actual working
Tiktok made kids think its only a few hours a day so they majored in CS and cant find jobs now
I work for a tech company, i am forced to vacation, and i am asked not to respond to messages or mails during vacation.
Bruh. I work in big tech, if youre talented and can keep up, its not that stressful. Skill issue or toxic managers are another story
@@preston7376 Yep. I work for one of the companies featured in this video and once you get past the imposter syndrome and you play their games, it's really not all that stressful. Honestly, if the hiring managers and interviewers did their job right, you wouldn't be there unless you made the grade.
Yea, I'm busy, but I'm doing 45 hrs week max. 45 hours of busting ass, though. But that's how I work. I go home and do what I want to do and leave work at work.
Unfortunately, the weird management tactics are very opaque at this company. The knowledge that someone is going to get PIP'd even on a team full of high performers is unnerving, but the professional sports team analogy used in the video makes a lot of sense. You keep those stats up or you're traded. You're not going to retire at this company. If you're good, you'll vest fully and you may find some golden handcuffs after then, but everyone knows they'll be gone within a decade whether it's their decision or someone else's. If it's the latter, there will be a nice severance for a soft landing. "No hard feelings. Here's $50K cash to not make a stink walking out the door."
What is a company or an industry where you only work 40 hours a week, get limited PTO, can make over 150k, and have some decent stability to produce offspring? It seems impossible to find.
Hahaha 😂
Lol, it doesn't exist 😂
@@luke5100I’m a senior systems engineer at a large non tech company making $175k and this is the way
Maybe it’s hard to find cuz you are hard to hire
I have property managers with little schooling and no formal training that make $100k+/year (after bonus so OTE) in Houston.
The ones that have a good head on their shoulders can easily make over $100k
I could swear I've heard you say on other FAANG videos that they often hire people whom they don't really have sufficient work for just to keep talent away from competitors.
Obviously the labor market has gotten tighter, but that seems completely at odds with this video. I'd be interested in a deeper dive into what has changed or what accounts for the two different takes.
This is a good point, but I’d say there’s always stuff to do at a big tech company. At any company, some projects and ideas get left behind because there’s always something more important to do. These projects can get worked on if a big tech company overhires and then wrings out all they can from their extra employees, even if they would get ignored at other companies.
Interesting video. I have worked at a few of these big tech companies and always found the culture kind of fun. I always like to be learning something new and these companies are always are short on people to do all the tasks so you can try things you have never done before.Also, some people hang around these companies for decades. And I know people at various SV high tech companies that have been there for 30 years. They like what they do and have found a way to keep their jobs challenging and rewarding.
Your videos are highly appreciated. We learn so much.
🙏
Hauri is one wise young man do gotta love his content and context. Go Hauri!
In my experience, people making this kind of money are either in upper management or are statistical outliers. Most people I know in tech work outside of Silicon Valley and make somewhere between 100,000 and 200,000 USD a year. That's still great money, but it's not 500k+.
E: also, the idea you need to be a constant "rock star" to even stay employed is just not true at all. I've seen people in big tech coast for most of their career. They do their work in short bursts then relax. I'm not criticizing, they're fulfilling the job description, they're just not breaking their back beyond that.
Pretty much
I know lot of engineers with 10 years experience in big tech making at least $400K.
Not managers, just individual contributors.
@@gund89123 I believe you, but I also believe the numbers on levels.fyi, which are much more in line with what I've seen outside of Silicon Valley
@@gund89123 I believe you, but I also believe the numbers on levels(dot)fyi (have to edit the link, I think TH-cam auto-deletes the comment if I don't). The salary ranges reported there are a lot more in line with what I've seen from people working outside of Silicon Valley.
In general, location isn't brought up nearly as much as it should be in salary discussions. 100k in San Francisco is very different from 100k in the mid-west.
Most of the money over 200k usually comes from stock compensation rather than base salary. A new grad fresh out of college on Google on California can start on 220k on total compensation but the base salary is actually something like 140k. And that's for a new grad. A mid level engineer can reach as high as 300k on TC on California. Now 500k+ is definitely unrealistic and something only the top of the top would earn.
I've also heard the same about being employed. Once you pass the "Olympics" of job interviews its just another regular software engineering job. You just need to reach the terminal role of the company where you can just stay at position and responsiblity without being expected to rise higher or take on more responsiblity. Though not every team is the same and a higher visibility project is going to be more pressure than maintaining a legacy tool.
These videos are so good. Thanks a lot.
love the margin call fotage. it fits perfectly. well done, hari. all the best to you for 2024!
🙏
I imagine it's time to chop my Netflix subscription. I end up watching a couple of hours per quarter. So it's time I learn from their strategy and make the earn their pay
😂 hahaha, they can’t even fault you
Yarrr a pirate 's life is free
Pfft. Network engineer at an ISP here. Quite happy to be a big fish in a small pond and get a fraction of these numbers, thanks. Call me lazy, I don't care lol.
😂 fair enough
Same here.. and 150k or less don’t get you far bro.
Lazy
@@noctisarcanus7894 Professional underachiever 😉
Not all tech companies are the same though.
I have friends working at Google, Apple.
I heard that Google employees have best work life balance.
And least politics @ Google and Apple.
Unlimited paid time off is scam.
You are not forced to take vacation.
The sick day culture is also pretty bad...Especially since the remote work started. My manager was always highlighting sick people then finishing by saying "you should take some rest", but the peer pressure and the fact that it was highlighted made it that sick days actually taken were rare...
Big Tech has become a real life version of the Hunger Games -- everyone is intentionally pit against everyone else in a kind of 'last man standing' sort of way. The garbage they produce doesn't suggest their methods result in what they should actually want.
Some colleges are that way, The tops ones thing that C = Average, so to get a B you have to really good, and an A=exceptional.
Nobody make 200k straight outta college in IT and only a select few hit 300-500k I'm talking phd level
It’s more common than you think haha :)
Most tech jobs don't require PhD's, maybe Master's though. PhD's are for people who generally want to into research or lecturing.
They do on California. Just not 200k on base salary. Its a combination of sign on bonuses, performance bonuses, stock compensation based on how good the company is doing on stocks, etc. An L3 Engineer on Google can totally start on that amount. But California is much more expensive than other states and taxes are very expensive.
IT maybe. But the video talks about developers in the core of the company's products. They get paid well. And some don't even have a Bachelors degree. Also, PhDs in these companies are found in their research organization ( Google Brain, MSFT Research, FAIR (Facebook AI Research)). You had better rock solid in logic and mathematics in these groups. They get to work on the next big idea and write research papers versus productizing ideas.
This is so false lmao. Every engineer with 5+ years experience at my non FAANG company makes 400k+ (I'm 600k rn) and we're all bachelor's or no degree
Pretty much just cements the argument that high turnover should come with high fines. If you're burning through people, you're the abusive problem.
Great video as always
Thank you as always Balpreet!
a video on the new boeing stuff might be interesting 👀
Thanks for the suggestion Jash!
I'm building a house this year as a side project in a market with very strong short-term rentals. I could make $500k profit tax-free every 2 years selling my primary residence.
That's the equivalent of $390k/yr taxed as regular income. Which is more than the CEO of our small company makes.
If I'm successful at it. I'll quit the 8-5 after building the second house. "Retiring" from my engineering career at 44 and just building a house every couple years. No more high stress rat race. With a million dollars invested outside retirement after 4 years.
No more self evaluations, unpaid overtime, asking permission for time off etc.
Not in a hurry to buy here as big financial issues are about to be recognized, IMO. Banks are in big trouble and over-leveraged (bail-ins?), debts are out of control; peeps CC's are maxed, and globalists think we should depopulate, eat bugs, and be controlled for their benefit. This should all get resolved very soon, might be very bumpy for a while, but peace and tranquility on the other side.
There's so much f*ckery in markets that they may just close for good. I'll be patient for better clarity over the next 2-3 weeks,At this point, I'm still at a crossroad regarding whether or not to liquidate my $138k stock portfolio. What's the best way to take advantage of this current market?
It's crucial to have a well-thought-out strategy and not make impulsive moves based on short-term market fluctuations. Patience and a long-term perspective are key. You should consider a market expert to guide you.
Mind if I ask you to recommend this particular coach you using their service?
He appears to be well-educated and well-read. I ran a Google search on his name and came across his website;
thank you for sharing.
This isn't the first time I've seen his name on social platform. I think his good reputation speaks for him, thank you for the recommendation I just contacted him
Even though I took coding classes and know I don't really like coding, I'm still regretting my decision not to go into software engineering.
It is not for everyone. Unless you love it, don't do it because you hear the money is good (which it is). That will matter little when it is 2 AM on Saturday and you are trying to get a system online by noon Sunday for the users half a world away.
@@JBoy340a Now that you mention it, I'm reminded of my previous job. I was in the improvement science dept at a hospital, and much of my regular patient safety work was cancelled due to covid. So I ended up learning VBA and automating the process of doing doctor audits, to make it upload automatically to the database and send customized reports automatically to all the relevant depts. I got it working, but man I didn't enjoy it at all.
I wonder if the PTO use disparity could have something to do with the types of jobs that tend to offer more or less PTO.
For instance, I've never heard of any intense manual labor jobs that offer unlimited PTO. In fact, I've worked a few with 0 PTO hours and only three sick days the entire year.
Your logic is so flawed in this video. It's not that software engineers are overpaid. It's the fact that all other jobs have not kept up the correct pay band with inflation. Corporations are dealing in record profits and doing stock buybacks while that money should be paid out for correct wages
Yep, thank you... I was starting to feel alone in this regard
Very eloquent in the way you delivered this video
A good exposé! 😊
Would really really like to see a videonthat breaks down what are those "engineers" actually doing so actively to be worth that much.
Best example is for instance Netflix.
What is that huge active need for software engineering when you have a streaming platform.
It all seems blown up.
Thanks for the suggestion smet!
So I have been a professional developer for years and it still took me weeks to even properly PLAY high resolution video files. These people need to stream them
@@LogicallyAnswered
Thank you for considering.😊
It's all comes down to miths. Maybe in software circles it is know and appreciated/exploited but outside it and especially outside USA it all sounds like a fairy-tale or made up jobs.
Needs to busted open.
What are you looking at is the finished product. You dont really know all the backend technology behind netflix.
@luke5100someone actually made a video on that exactly, I forgot the channel name
This echoes what I read on the book by Netflix's CEO: Reed Hastings " No Rules Rules".
Awesome video!
Are you an AI. Love the speed at which videos are pumped out❤
Hahaha nah
@@LogicallyAnsweredvery impressive generated voice and face. 10/10 Generative AI score.You could give these thech companies a run for their money.
So, they ask that you work as much as you are paid for...and thats wrong??
Excellent video! I really like your presentation style. I wonder if Netflix's cash-only, do-or-die compensation scheme has any influence over the content they put out. They have a beautiful interface, certainly, but their content largely feels like spaghetti against the wall. There are wins, of course, like "Stranger Things", but there is a lot of slop. I don't get the sense that there's a unified artistic vision, the way you would have with HBO or Showtime or Hulu. I suppose that artistic legacies take time and trust to build, and to do that, you need to rest, breathe, and not feel threatened. If everyone is scrounging for cash and trying not to get fired this may not be easy to build.
When you put it that way, how do I sign up? Have you ever worked for any other company that is motivated to slash as much out of the benefits while still working you as long as they can even if its not productive? Tech workers might not have a long 40 year career with one company, but they will get paid well in the mean time. And who wants to work that long on one project? Skipping around might make life more interesting working on a virility of projects. Well getting paid too? Big Tech company's seem like the best gig going these days!
As sinister as these companies are, due to the natural fact that money right now is mostly in tech, tech workers will always be spoiled in comparison to other fields.
Every corp is equally evil, tech can just afford to spend more money convincing their people they are less evil. That means more money for us to suffer as much as the others, that is undeniable and anyone that works in tech that has friends that work in almost anything else can see this clearly, it is disproportionate and unfortunate, whenever I talk to my friends about their jobs the only thought that comes to my mind is that I'm overpaid, when I talk to other engineers at work, I genuinely feel underpaid and that my 'skills' should be making me twice as I am, in the end perspectives are limited and most videos like this one will come from the perspective of someone that works in tech that has no idea what it's like to do anything else, I don't think it makes them less valid, as long as they are understood from that context.
I agree, Microsoft has brought productivity and timetracking to an art and they too had (don’t know of it applies) a policy of firing bottom underperforming employees plus dozens of other sly tactics…
Is this why the Netflix app on my firestick actually works while the hulu and paramount apps constantly crash?
Jack Welsh at GE invented the concept of constantly firing the "bottom fifteen percent" each year and hiring newbies to take their place. Obviously, there is nothing new under the sun.
Also lots of politics play a role in those tech firms.. You can literally be promoted 1-2 quarters ago and get axed not even a few months later. For the CV it's great, but wouldn't count to be there for more than 2-3 years.
One of my friends has worked at AWS since 2012. And he loves it there.
Must be a high achiever :)
Made it to E6 and making 700k. Feels great and I can keep going for many years
Jacque Elul's "Technique" applied to the corporate setting. Theres a reason why Kurzweil and the tech world liked this hypothesis
Really surprises me how easy it is to fire people in America. Just not the case where I’m from. Ends up in labour court!
Am never giving up on this CHANNEL…
I love NETFLIX now! The sports team analogy won my heart!
Its about making enough to move forward substantially in life. A chance to work in big tech even for a short while is a chance to retire early overall.
Not sure about that. I've been at Amazon for 7 years and I've found it quite chill.
May be not 343k, but it must be commensurate with housing costs. If one needs to buy a house in the SFO bay-area companies should pay at least 3x the monthly payment.
Ive taken AP Physics 1 and E&M. Physics 1 is a poorly designed class that teaches physics in an unintuitive and limited way that causes a lot of students to struggle. E&M on the other hand is taken at a time when you have the necessary math skills to really break down and understand the phenomena being studied. I know a great many smart people who struggled with Physics 1 and aced E&M.
world class engineers at google:
looks around everyone coasting together
errbody thinking that these tech companies are just a holiday with all the perks but the reality is the perks lure you in but realistically you can't maximise half of all those perks given how busy you need to work.
At that point just be a Wall Street criminal and do 90% less work. $370k is pennies to Google.
I mean, they expect you to perform to get those salaries, is not that like expected?
I worked for Amazon for 5 years. Hated every single day of it. Tons of incompetent devs sitting on pinnacle of their ego work there. Lots of them get hired after solving leetcodes and watching Indians TH-cam videos. When it comes to infrastructure and actual implementation, 7/10 do not know anything. Most of them are book smart, zero common sense. I left the job, took some breaks, joined non FAANG job as lead dev and now I am a Director. Here, people actually care about each other. CEO even officially stated that he will not layoff any employee during hard times. I am making about 25% less than what I would have made in Amazon, do I give a crap?
This is at least the second time you've brought up Amazon stock comp distribution without mentioning the sign on bonus that exists to offset it.
Amazon offers are structured such that your pay per year is relatively* consistent across all 4 years. It just switches from cash heavy to stock heavy in the later years. It isn't some trick by Amazon.
* Often stock growth is assumed. So, ignoring potential stock growth, your pay at the time of the offer is actually lower in the later years.
You’re right, but stock comp is usually the most lucrative part of the comp thanks to rapid growth of tech companies. The average employee that stays for 2 years doesn’t really benefit from that like they would at other tech companies.
health matters more than money in the end
atleast Netflix clearley stated and mentioned that
I don't understand why it requires so many top-end engineers to keep a video streaming company working. You would think that the software infrastructure was created and then put into maintenance mode. What on earth are so many engineers doing all day every day?
A lot of them only work for 3-4 hours a day. They will tell you that. Those jobs are more quantity product than quantity. They’re only needed to work on specific tasks most people can’t do.
You are thinking about the people that maintain the existing infrastructure. They get paid less. The people developing the next streaming products or creating efficencies that reduce the streaming companies costs by millions get paid more.
I don't see Netflix as a big tech company - but I've been using them off and on since they mailed DVDs lol. They have made some TV shows and movies that are really good and keep a good depth of popular movies rotating on their streaming platform. That's not high tech. Netflix has also made a lot of badddddd shows as well.
How about a video about BASF and there current Situation: expanding in china and having a really hard time in Germany (Ludwigshafen) right now because of various reasons like the missing gas deal with russia (gazprom). I work for them and I think it would be a really good subject for a video :)
Idk man. I feel like they are paying well enough to “suffer” these “difficulties”. They deserve the best talents if they pay well. And after they leave these big tech firms for better WLB, they often find even better paying jobs with normal hours - which shows how valuable their big tech experience is. I dont think there’s anything wrong trying to make it competitive. Would you rather work at a Japanese company where tenure speaks the loudest or a place like FAANG where your personal ability trumps? I think the answer is pretty clear here.
The thing I don't get about this business model, isn't there a lot of lost costs with recruiting and retraining employees all the time?
He’s already enjoying my first Agreament ammount repaying ❤🇲🇾
3, 4, 5 600,000, a million a year,,,,,, that's insanity. I made like 10 bucks an hour for over a decade. I just couldn't fathom that kind of money! I don't know anything about what it takes to get a job at these places, but I imagine if they're paying you this kind of Rockstar money, they get to keep your soul.
These companies are worth over a trillion dollars, by market capitalisation. Their engineering/development team is what make all their products and services - so they pay them lots of money.
A lot of it is not in cash, but stock options. It can take up to 5 years for these stock options to fully vest. So in year 1 you own 20%, ... But you usually get another set of options every year. Often the latter sets are smaller unless you get a promotion.
You can’t pay me enough to work for any of them
payout is ALWAYS directly proportional to expectation and believe me , they are high ..i worked as a contractor for google and facebook. They deadlines are is not possible for a 40 hour week period unless you are a genious.. Most of us , worked at least 50 hours and more than 60 right before go live..
Finance (investment) industry is where the moneys at.
unlimited PTO is not a feature its a bug. They sell it as a perk, in reality it is abolishment of rights that workers fought for...
yes it's all rosy for people of the protected class of the day, who are safe from cuts and reprimands. you know how these people are.
Sone of the "day in a life of" videos that were popular for awhile would seem to contradict the idea that there aren't a lot of free loaders
I've never heard that Netflix is the most cutthroat. It's always amazon or meta.
I think the only industry that can keep Up with These salaries is finance.
Yeah, investment banking and quant
Well these tech companies make more money than financial companies. But there's one company that makes way more in net profit than any tech and finance company, and that is an oil company called Saudi Aramco.
@@McFlashh But for most companies the profit per employee (and thus indirectly their productivity) and how that changes as they hire more people, and of course market dynamics like supply, are the driving factors for the actual salaries and bonuses people receive. A company is most interested in the variable profit per unit of input, not the total profit.
And for Saudi Aramco that's absolutely true. But usually an oil company doesn't need that many employees, compared to more traditional industrial companies. But I don't know how that's compared to finance and technology.
I really have to respect Netflix's take on its workers. It's quite honest. A lot of companies out there give the misleading impression that you are part of family when things are going great. When it's time to downsize you feel betrayed. You feel like the Blacksheep in the family who needed to be cast out.
I work in tech and I've never met an engineer that makes $600k/yr.
Me neither but I think they all reside in sillicon valley
@@shengqiwang3311 the Valley does pay higher salries than engineers in say Austin.
No wonder google just fired thousands of
Its impossible to beat youtube in term of entertainment
Difference: You just get paid more, but get the same treatment as a regular minimum wage employee.
Though, you need a degree for which you or your parents have a new mortgage.
But if you are good you can pay off you parent and your mortgage in a few years. I know 25-30 year-olds that own homes in the Silicon Valley.
My little brother, who is a bit of a douche, has worked at facebook, amazon and now is a consultant for google. He proves it doesn't take brains or heart to make it in business. Just a lot of bravado.
Had to wait until the very end to get to the meat and truth. Simple: Employee should be compensated to 1/3 or expected revenue produced. In Big Tech, Finance, Legal, and Entertainment you have a higher revenue stream. So if you are making the company $1 million a year, you are justified at $300,000. Now that the money isn't as easy Big Tech is going to lower wages
Then they lay off 10,000 people
Yeah those salaries at the beginning are straight up bullshit.
it's pure market monopoly.
I find it ironic that bezos has such an aversion to tenured employees, when he and all of the s-team were multi-decade tenured themselves.
"By the time they are in their 30s, they are often earning 500 thousand dollars, to one million dollars" - this simply isn't true. These are principal/staff positions and above, they represent a very small percentage of engineers at these places, regardless of tenure. Most people at all ages are capped around 250-350 if you look at the majority of people here, which is not exactly a pittance, but you are being sensational. Very very few people are making 500k+ percentage wise. Yes it is possibly, but in your 30s especially its actually quite rare. Also most people who've been at the company for a few years make much less than new hires. On blind you will hear about 350k mid level incoming offers (sensational, and likely an exception with competing offers, during a crazy period of wage inflation like 2021), but the vast majority of mid levels were low 200s at the time.
Unlimited PTO is a scam
Why don’t people take 365 days of a year of if they have unlimited paid day of???? Serious question
They drop you if you do that. It is all at will work. Either side can say bye with zero notice!
so its not unlimited than, they are lying?@@JBoy340a
lol you want to tempt the employer who just fired thousands of productive employees to increase their bottom line?
So its a scam?
I don’t think you used good cop bad cop analogy right. Probably better saying carrot or stick
Rest and vest
You say they only pay out on merit, but if you look at the slate of bad decisions they made. how come they were never found out earlier. maybe their is some bias going on here
Idk . When you're talking 300k plus a year... i would do John Wick's job. Let alone, anything these guys are going through
😂
350k a year is around 175k after tax. But I hear you.
easy to say but unless you can compete with the high performers the stress is going to burn through your body.
this is Blind app put into a video!
Lmaooo - Oh no! people have to work hard to get paid at big tech! The horror! Or you know, you can work just as hard in most other jobs and get paid a lot less lol. If you're going to have to work hard, at least get paid for it.
It's not sustainable and they know it
i am watching this with $300/month salary 😢
😭😭
You've already been celling your soul. You just didn't know it.
"unlimited vacation"
Whoever swallowed this is so naive. How could this possibly work?