Spoiler: only the two founders are making out like bandits. Mailchimp employees aren't given equity.
From 2015 on the corporatization took over, the flat hierarchy was completely discarded in favor of multi-tier CwhateverO monster departments, team fragmentation and purposeful reassignments, and basically a 100% annual employee count growth mandate.
That's also around when the big raises and bonuses stopped, and everyone was assigned to a role and level which has a set salary value range etc.
For me 2018 was the end of my patience for it, but I think some are trapped believing in an older version of themselves.
As much as I appreciate equality goals (what role, level, value ranges are there for), and believe their benefits outweigh their costs, they function by lowering ceilings and lifting floors. The only way to earn outsize bonuses these days is to be directly tied to outsize earnings (e.g. commissions), and that's hard to do with engineers.
The engineers route to that kind of risk/reward dynamic is by founding / joining something early (that actually grants options) and trying to make it huge.
Our decision to "grow up" was more a decision to try addressing non-email markets, and hire so many people and buy so much real estate that profit then depended on that choice.
Now they have half the talented staff because of boneheaded management decisions, half the loyal customers because the team stopped being able to address their needs, etc. If that's "mature" to bankers or VC's then I'd call them over-mature.
Ignoring the shifting sands would’ve likely meant a more gradual decline, instead of an unpleasant growth, and would’ve almost certainly yielded less than the chosen path.
The talented people and half the customers would’ve likely bailed either way.
And that makes it even more depressing.
From what I heard from friends, it was a great place to work. But I guess most of that will change when the corporate overlords decend and start optimizing things.
Not in the scheme of things, especially with regard to comp. Plus, they had a shitty PHP stack that was a spaghetti web.
I desperately tried to convince my Atlanta Mailchimp friends to quit and join me at a pre-IPO company. No takers. After our IPO, I made a life changing amount. Enough to retire before 30. They got paltry "bonuses" every year.
Mailchimp had some weird cool aid that made people like working there despite there being plenty of better alternatives. I just wish I could have convinced my friends to leave.
A company can just be a great place to work. No cool aid necessary.
It would have been a solid choice.
But there’s a lot to be said for staying to work at a company you love and enjoy, especially if your compensation is already enough for a very comfortable life.
Imposter syndrome is a bitch, when there's always someone better than you out there, so there's probably a lot of Kool Aid in making people feel like they've made it, are part of the tech party, and are valued employees.
And working customer-facing is always a cooler cocktail party gig than being a master of the universe behind the curtain at Oz. For some.
Different folks optimize for different things. I doubt they'd turn down you buying the next round of drinks, and for some people... that's enough.