I hear that there is PSC culture at Facebook and that they should be avoided as an employer. Do you know what "PSC" means in this context. Thank you!
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Great PSC description below. Very extensive.
The 2% tops also have a subtle lusty 'look' by the way.
@nmw+13z18mcE It’s sounds like a load of C-ap. Stay away from FB.
PSC stands for Performance Summary Cycle at Facebook… You get performance reviews every six months (starting in January and July). The company is amazing and this process is dialed in very well.
This is how it works (this is a few years old thing when my wife worked there) - there is a two week period where employees asks for peer feedback (usually 3-5 peer reviews), writes a self-assessment, and write a manager assessment.
Then managers read all the peer feedback and the self-assessment… At that point they determine a "Performance Assessment" or rating (for those six months at issue) – promo discussions take place here.
This is followed with calibration where managers meet to look at the assessments of peeps on their team and ensure that people are justly rated (compare all folks in the teams)...
Facebook has 7 performance assessments, you are evaluated under each. There is a firm guideline for what % of employees should be at each level… However it is explicitly not a forced curve… This helps if you are on small team otherwise I’d be crazy.
The curve is tough at the tail ends, top performers and bottom performers are I think about 2% of the overall bucket each. If you are at the bottom you are out – if you are at the top, you will be flush with money.
Anyhow, once assessments are done that’s it – set in stone and this will drive your comp – this applies to all like raises, bonuses, equity grants, etc… On the equity side, facebook gives out raises and additional equity once a year however promos and bonuses are two times a year, so you buy a Tesla first and then you buy a Porsche second.
Once PSC is done you will have a chat the manager and you’ll get the feedback… This is how it was when my wife worked there long time ago though, not sure if they changed things…