Seriously? 4 years at FAANG would net you $1,000,000 savings?
That seems... crazy. Can someone explain how that works? Your salary alone living in the bay area, definitely isn't goin to net you $1,000,000 in savings.
That seems... crazy. Can someone explain how that works? Your salary alone living in the bay area, definitely isn't goin to net you $1,000,000 in savings.
Considering how well those stocks did after such offers were made to me, and how frugal I am (avid minimalist spending <50k a year in the bay), I would have saved even more than 1M (I know most of my friends working there did).
Also, the 1M from the startup wasn’t net, but gross (taxed at long term capital gain luckily).
Could you please explain how does this work? Is it a one-time payment of 600K spread over 4 years? And afterwards you just end up with 210K base (or maybe a small increase) for the following years, with no additional bonuses/etc?
This looks like an RSU grant of 600K; there are different vesting schedules (i.e. how much of the RSU becomes actual shares in the company, owned by you which you can sell/keep). Typically its 25% every year with a 1 year cliff (i.e. you get 0 actual shares when you start, but 25% after a year and so on).
This is not necessarily true if you've plateaued and is not necessarily true if your realized comp greatly exceeds your target comp. If your target comp is $500k per year but you're realizing $1000k per year due to stock growth then your refreshers will reflect the $500k rather than the $1000k.
I would not want to live that way but they seem to be pretty happy.