Something to keep in mind here is that senior and super-senior engineers (staff, principal, distinguished, whatever honorifics they’re using now) are a minority within the engineering population, by design. Of engineers with those titles, only a minority of them work at the megatech companies that sit at the top of the stock market. They are huge corporations, but they aren’t the majority of the market. And there’s nothing to suggest that someone getting that paycheck is making over half a million a year in total comp.
And speaking of “Total Compensation”, a general PSA for anyone in tech (especially new devs): don’t consider equity as compensation until you can and do cash it out. If it’s not money in your bank account, it’s not compensation, it’s a lottery ticket. If you are offered options, especially if you’re early in your career, you’re very likely to exit the company (either voluntarily or via a layoff) before any of your options mature, much less all of them. Most options plans start vesting after 12 months, and don’t fully vest until 4 years. the median tenure for tech workers with a college degree in the US aged 25-34 is 2.8 years, so the majority of them would be leaving before a significant percentage of their options mature. It might still be a good gamble in some cases, and even bad gambles sometimes pay off, but don’t make the mistake of equating equity with cash, they aren’t the same.
Hope you’re willing to relocate to SF and still spend 50+% of your income on housing you will never own.
If you get a good offer from big tech to move to a high CoL area, it can be worth it because the offers are that good. You will be able to pay off a home within a decade. Even if you start at entry level you will be expected to be promoted within a couple of years. For most hirees this will already make them senior. It’s expected that everyone can eventually make it to senior.
I wasn’t suggesting someone randomly move to SF without an excellent employment opportunity.
As for startup equity, one could argue it shouldn’t be considered part of total comp since most startups do not exit successfully and even fewer exit in a way where the payout will be comparable to a big tech salary.
I’m talking about this image
And this comment:
Something to keep in mind here is that senior and super-senior engineers (staff, principal, distinguished, whatever honorifics they’re using now) are a minority within the engineering population, by design. Of engineers with those titles, only a minority of them work at the megatech companies that sit at the top of the stock market. They are huge corporations, but they aren’t the majority of the market. And there’s nothing to suggest that someone getting that paycheck is making over half a million a year in total comp.
And speaking of “Total Compensation”, a general PSA for anyone in tech (especially new devs): don’t consider equity as compensation until you can and do cash it out. If it’s not money in your bank account, it’s not compensation, it’s a lottery ticket. If you are offered options, especially if you’re early in your career, you’re very likely to exit the company (either voluntarily or via a layoff) before any of your options mature, much less all of them. Most options plans start vesting after 12 months, and don’t fully vest until 4 years. the median tenure for tech workers with a college degree in the US aged 25-34 is 2.8 years, so the majority of them would be leaving before a significant percentage of their options mature. It might still be a good gamble in some cases, and even bad gambles sometimes pay off, but don’t make the mistake of equating equity with cash, they aren’t the same.
And I was addressing this:
If you get a good offer from big tech to move to a high CoL area, it can be worth it because the offers are that good. You will be able to pay off a home within a decade. Even if you start at entry level you will be expected to be promoted within a couple of years. For most hirees this will already make them senior. It’s expected that everyone can eventually make it to senior.
I wasn’t suggesting someone randomly move to SF without an excellent employment opportunity.
As for startup equity, one could argue it shouldn’t be considered part of total comp since most startups do not exit successfully and even fewer exit in a way where the payout will be comparable to a big tech salary.