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As Tyler said that's first year TC only (although with average SWE tenure reaching ~18 months, it's not unrealistic to hop around and integrate a signing bonus into your comp every other year - also depends what stage company you like working at and how comfortable you are with accepting risk). After that it's "only" around $200k, without any raises, bonuses, or stock refreshers.

I understand that it's a one-time bonus and TC drops off after that. I'm still curious what the circumstances were for that specific candidate and whether they had unusual circumstances that gave them more leverage than the usual bachelor degree new grad.

B.Sc. from a top 20 university, 10+ competing offers from FLAAG and various unicorns, and no doesn't rhyme with Midas

$275,000 first year total compensation because of the large signing bonus. The per-year TC drops a fair bit afterwards:

$115 + $60 + 15% of salary bonus = ~$192. Numbers in thousands.

Normally you don’t actually add signing bonus to your TC. I have heard of similar offers at FB for returning interns with competing offers.

There are new grads making even more at Jane Street, Two Sigma, and Citadel