How Six Figure Tech Salaries Really Work | MANGA
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- čas přidán 27. 07. 2024
- Hello! Tech compensation is unique and structured differently from other job compensation. In this video I'll go over the basics of understanding the 4 major pieces of tech compensation.
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📒 Timestamps 📒
0:00 - Intro
1:59 - Base Salary
2:21 - 3 Types of Bonuses
4:29 - Benefits
5:27 - Sponsorship
6:21 - Public Company Equity
10:31 - Private Company Equity
This Video is Sponsored
Thanks for watching! Like this comment if you are also an aspiring retiree 😜
Pls make a video on grabbing a job as remote software developer 🙏
Also mention what level of dsa is required(graphs,dp,tries are these compulsory).
F.I.R.E. 🙌🏾
I aspire to retire 🙋🏽♀️
Great video, very informative.
Loooool, Gavin Belson? I laughed so hard at that letter
Me watching disabled, unable to work since 2016 living in poverty as a result
If you’re watching and benefiting from this video i have advice for you…BUY DISABILITY INSURANCE you have the money, don’t think about it, just DO IT.
My entire life has been stolen from me by a rare condition that didn’t appear until my late 30s. I was just like any of you, working, starting my life, sickness and disability wasnt even on my radar.
Had i invested in disability insurance, i wouldn’t be living in poverty right now. I pray you remain healthy and able to work, but reality says not all of you will. It’s too late for me, but you have your whole lives ahead of you…don’t end up like me, please.
For those looking to get into tech: Another benefit to ask about during interviews, especially from large public companies like Tesla, is what their ESPP (Employee Stock Purchase Plan) program is like / if they have one. It's similar in concept to stock options it sounds, but basically if you buy into the ESPP program, you set aside a percentage of your income each paycheck towards purchasing your company stock at a fixed price, and often discounted 5-15% on top of that. I'm sure the exact details change company to company, but I work at a large tech company and my stock purchase price is fixed for 2 years 👀 my company's stock has done really well in the last 2 years, so this has become an extremely lucrative benefit for me on top of stocks from RSUs
I'm hoping to get into tech as a SWE next year. Thanks for the tip! @bukola's comment section really is a gold mine sometimes.
I was going to make a similar comment. A lot of folks miss this. I work for a big tech company and this has been a game changer. So folks, do ask about this and try to understand how it works and tap into it if you can
Fintech is not doing equally well as Tesla. My stocks dropped twice. Hope 2022 will be better.
Damn 😮
Solid video. I'm an SRE at a major tech company, and while my base salary is in the low six figure range, my annual RSU bonus plus ESPP made me a millionaire over the course of the decade that I've been there. Not super wealthy yacht-owning multi-millionaire, but I own my house outright and live comfortably.
What was it like getting the job and how did you prepare for it? Do you enjoy the job?
@@DoctorWhoNow01 I got the job because the manager of the team that hired me used to be a customer of ours from the job I was in before working at my current employer. He needed my skill set and we had previously worked well together. How did I prepare for it? I’d say because of the circumstances of my hire I didn’t need much preparation. Once hired, however, I had the opportunity to learn entirely new skills that complemented the ones I had at the time.
Do I enjoy my job? Yes!
Great! What state? A swing from CA to TX for example can net you 30% difference which may or may not be worth the move.. this location knowledge helps the community understand a little better the options ahead.
@@dtb7872 Was born in and grew up in the Bay Area, so got to see Silicon Valley grow almost from the very start. So yeah, being in California was definitely a factor.
@@asdf51501 Do you mentor people ? 😅
I switched careers to Tech and honestly one of the best decisions of my life!
congrats!! it was the best decision i made too!
What industry were you in previously?
@@user-ns3bz7he7m film/tv! so totally different.
Respect to you brother, I'm currently learning coding too and although challenging I'm surprised how interesting I find it
May I ask at which age?
Important: Indeed, your bonus directly depends on your and company performance. However, when you just joined company, your performance can't change performance of the company much, therefore good companies pay 100% of your bonus first year regardless a performance. Check it before signing an offer.
Sometimes they prorate the bonus based on your start date, but like you said always best check before signing an offer!
Getting equity and stock options as comps is life changing 🙌🏽
This guy out here both supporting others and teaching the masses is see you Proffesor see you in class
I'm hoping to make the transition into tech as a SWE sometime next year. This is really good info to be aware of and gives me a better starting point to do additional research before interviews // comp negotiation. Thanks for speaking on this!
SWE means software engineer? Right?
Thank you so much for this video! I know nothing of this life, but the comp structure is very fascinating!
Awesome video! I learned so much. Thanks for putting this together and helping us out. A lot of people don't take the time to explain things like this.
Omg! I love this video. I had to learn all of this the hard way and there's soooo few us in tech
As first generation professionals many of us don't know this. Thank you for sharing and guidance us!
Excellent video. I love negotiating offers, and it’s a muscle that matters in your long-term financial life.
Thanks for this video Bukola really appreciate you taking the time to explain these things in a nice and simple way!
Amazing video. I never thought about how big of a deal equity is, so I’m glad I watched this video.
Great video! Thanks for making it!
I always interpreted the "cliff" as the sudden drop in comp after year 4. Because after 4 years of growing, your comp in year 4 will likely be much higher than year 5, when you're just getting refreshers granted 1-2 years prior.
thank you so much @Bukola! This video is much needed!!
Oooffff this was veryyyyyyy informative! I really enjoyed watching this video!! Thank you for uploading ❤️❤️❤️❤️
Thanks Bukky, this video is highly informative. You are such an awesome tech speaker!!!
This is a really good starter video. Evaluating your options is more tricky than using the formula, because the number of outstanding shares is not easily ascertained, and you may have a reasonable approximation for valuation based on the last pre-money evaluation during the companies last raise (which may also not be easy to ascertain). The main point is when you stated that potential employees should think of equity as a lottery ticket and to align the companies and employee performance incentives.
Damn this is super helpful. I'm thinking of switching my career into tech and your videos are super helpful and encouraging! Thank you Bukola!! 🥺🥺
Great information and thanks for putting this out!
No problem!!
Love this 👏🏾 keep them coming
Thank you for this! I’m leaving the military I’m a few months and have no idea how civilian monies work 🤦🏾♂️
Omggg Jeremiah on a Bukola video????
This is better than a Marvel crossover event I swearrrrr ♡♡♡
that's so interesting! hope the video was helpful!
Thanks for this comprehensive video, Bukola! Your channel is amazing!
very helpful and informative, really enjoyed the equity bit!!!
Thank you so much for this video. I am still learning and this video is so helpful!
Thanks so much for this video. It was so helpful. I always wondered what these terms meant!
Here early,, as a SE student, got to siphon every bit of gold spat by this queen💯💯thank you sis
Great video a lot of BIT folks don't understand these things and get screwed over in long run. Hopefully they find this really useful!
Excellent explanation! Thanks!
This is extremely informative and helpful. Thank you so much!
Wow Bukola, I am shocked that I actually understood everything you discussed. You are an excellent teacher. I seem to always learn so much from your videos. Great job!😊
Thanks for these videos Bukola. I recently subscribed to your channel and it was worth it. Keep up the job👍
Work at a FANG company and this is pretty much spot on information. Great video.
I appreciate your content. I'm only about 3 videos in but I love what you're doing.
Excellent content, wish I would have had that knowledge when I moved to my first start up in 2013. Two notes concerning stock options: figuring out the outstanding shares can be tricky since the company might not want to tell you, and (at least in the US) one can de-risk the options via secondary market. That is, there are companies out there that (for a cut) take on the risk for you, which I wish would be available in Europe as well. Otherwise the likelihood you sit on the taxes paid upfront when there is no successful exit can be high and one may end up with debt (happened to colleagues). Again, thank you so much and KUTGW!
Great video Bukola!
Hallelujah! someone finally explains this thank you 😊
Ayee glad you enjoyed it🙌🏿🙌🏿
Your channel & content so fire! thank you so much for all of this info!
This is an excellent vid! Thanks for the info
Excellent content! This is very important information.
Working in the tech industry is the best niche to get access to great benefits! If I ever work for a corporation again, that would be a tech one, not a financial one full of greedy managers. :) Thanks for the insightful video!
Thanks for the great content/info Bukola. You gained a sub.
@Bukola: Great video! Thanks for the pro tips!
This was super helpful. Thanks Bukola!
Thanks, this was very informative. When I get an offer, I will definitely keep this in mind.
clap clap thank you Bukola. I learned so much from this video.
Thank you Bukola. This is really useful :)
Great video to refresh your knowledge and for beginners. Very smart lady here!
Thanks, this was super informative!
Wow you cleared so many misconceptions I had about RSUs!
Yay, glad this was informative!
I love your videos Bukola. You provide great, informative info for girls in tech!
I appreciate you so much... You gave me the courage to do it! Thank you thank you ❤️
Bukola, you could teach an MBA…this information is incredibly valuable!!! I wish you even greater success for 2022🙏🏽🎉👏🏾
This content is as real as it gets. I wish you were 5 years earlier though 😂
Really helpful. Practical and not just about "top options to invest in" Thank you
Amazing video, I learned alot.
Very useful BukolA... Thanks for the insight. Love OMO OLOGO
this was so helpful, thank you so so so much!!
This was very informative!
Thank you 🙏🏿
This was great info. Thanks for the knowledge.
Omg thankyouuuuu. 💙💙💙. Your videos are so helpful and informative
Thanks for talking about both sides of equity.. Public shares vs Private shares. Workers should take advantage of the opportunity to invest.
Whew chile I never clicked a video so fast!!!!!!!!!! Only posted 23 minutes ago?? Dangg I'm running late!!! 😭😭😭😭💞🙏
Thanks for stopping by!!
Thank you!! I have subscribed!
From Tech CZcams To Another, Love This : You Should Do A Video On Negotiating Your Salary As A Developer! ( That would be interesting)
I would enjoy seeing this too.
Great video! I don’t even work in tech but I love your videos & I feel like this info is relevant for other career areas too. I wanted to ask if you can do a video on employee stock purchasing plans? I’m starting a new job at the end of the month. I saw that’s one of the benefits but I’m not sure what that means lol
Great video and overview!!
So I'm working in a completely different field (media) for a US company, out of Greece. For some reason I hadn't even considered that there are any other types of compensation other than the base salary! Thank you, I will definitely take this into consideration. I took the first offer they gave me and that's been my salary for the past couple of years, even though my productivity and tasks have expanded vastly...
Oh no! Well you certainly understand it now at least 😂 Super informative - lots of pieces to the puzzle of how much you’re getting paid 🤷🏻♂️
Thax Bukola, this is gold!!
Thanks, and you're the first comment!
@@Bukola1 like always Bukola ..and kindly respond messages via ig
You don’t even have to be an SE to work at a tech company, there are many client facing positions that pay well and award you similar benefits like Rsu’s and ESPP’s
Examples please?
UI/UX designer. Product manager. And many more…
@@andxxxcb client success manager, user adoption specialist, training specialist, tech support:
Sales, SDR, account managers
@@cozyrain410 lmao .. okay
@Angelica so you expect people to "magically" know what those abbreviations mean? Just spell it out. Do you know what these mean? DRE, SWTW, IROW
Thank you so much for this!
Good content, thanks for sharing 👍
The Hooli offer letter was perfect😂! Love the Silicon Valley reference
Great content ! Thank you
I wish i had found this video before accepting my new job. The little things do matter like company car, gym membership (turns out gas and gym is expensive...), FOOD while on the job, extra HSA funds for annual checkup, pension plan, also a well-defined raise/bonus structure Eg. Finish X number of projects with no quality issues and get X amount of money, (apparently this type of structure isn't common). My last company was my first company out of college and I took a lotta that stuff for granted. I got wide eyed with the base salary and sign on bonus. Ah well, lesson learned. Great video, bookmarked for future reference.
Very helpful video. thank you :)
Great video thanks 🙏🏾
Thank you so much posting this. It was very informative….
No problem!!
I've recently had to talk to my company about being "out earned" by new technicians . Also heard the term be phrased as "salary compression " as well. Anyways now I need to do the follow up and see where we are at. I know most companies go back and pay those senior employees. This is one of things where I just have to remain focused and get what I want.
Perfect Explaining Thanks Really Needed this ❤️👌
Awesome 🙌🏿🙌🏿🙌🏿
A Queen and more 🙌🏾🙌🏾
One more thing to add to stock options, remember to look at what type of options you are offered. There are two types ISO (Incentive stock options) & NSO (Non-qualified stock options) they have different tax implications. Usually whoever your company partners with to distribute these options have good documentation around when and how these options are taxed.
Great video!
Thank you for this video. My son is currently a sophomore in college studying computer science specifically focusing on software development. So this was pretty cool to see. I tried to tell him how great a decision he made to study computer science, but I don’t even think he realizes it yet.
He should also consider government contracting in IT. We make good money and sometimes developers get offers for a government position. After the one year probation you can't really get fired. You can easily move around the planet with a government job. If you go straight into the military with a college degree you can build a double retirement. IT pays well in the military too. You can retire very early and get your retirement. Plus healthcare for life. Many contractors were once military. So imagine retiring at 38 with a monthly $4k/month then working on contract for $90k/ year. You don't need most benefits because you have the military benefits for life. No I am not former military. I wish I had known this. I am 51 and work in software development with a contracting company for the military. The retired military contractor will get Social Security for their contracting work on top of their military retirement once they have their quarters complete.
@@tracygarner5912 Thank you very much. I’ll be passing this information on to him.
Just hopes he avoids game development. Smaller salaries than other tech sectors for same seniority
Bookmarking for later. This is the content I am here for.
Ayee 🙌🏿🙌🏿
This was so so helpful! Just got an offer and I was trying to understand. Deffs gonna look a bit more into the tax implications cos I’m still not entirely sure how that will work over my vesting period. Are there any resources beyond just googling that you found helpful?
Defiantly need to rewatch, but excellent content.
this is so helpful!
YOU GOT THE STAMPS PHONE CASE I LOVE IT
Love your acting skills 😂😁. Dev stories next, please?
I didn't know this before joining a FANG company. But looks like I'm still very good based on the explanation. Thanks!
Nice video and even nicer person to look at.
Offer letter from Gavin Belson, oh my god rofl :D Nice detail! Great video
This was really well-made. You should honestly sell the notes you probably have on how you learned about all these attributes. Assuming you haven’t already.
Thank you for this video. It caught my attention because my son is a freshmen majoring in computer science so this would be very helpful for him. I am also aware of how stock grants work as I have personally experienced that. I am in the employee benefits field. Definitely do not dismiss your benefits that a company offers. If you receive similar offers from two or three companies, ask for what employee benefits (medical, dental, vision, life, disability, etc.) they offer and the employee cost. Although most tech companies offer great benefits, if everything else is relatively the same (base salary & bonus) but one company is charging you $100/month for health insurance while another is charging $20/month, that almost a $960 savings. This also assumes similar health insurance plan. Check to see if the insurance benefits are good (low deductibles, low copays, etc.) Consider the company where you will pay less for health insurance, dental, vision, etc. Salary & bonus are only part of your total compensation package, employee benefits make up a large portion. Finally piece that Bukola mentioned is don't be afraid to ask for a higher salary. As long as it is reasonable and you have a few reasons why you are asking (i.e. office is further away that you wanted so you have to spend more time/money commuting), companies will increase the offer. The worst they can say is No.
Solid tips!
Any discussion of working for a start-up and being paid with equity should include mention of overhang - you mentioned dilution, but overhang is a dirty secret that recruiters don't want you to know about or think too hard about. This is a subject that you MUST bring up with a recruiter AND hiring manager before you go to work for anyone on a promise of a future liquidity event.