I am hearing FAANG folks bragg about salaries, the numbers are astounding.
Do you think this is sustainable?
7 replies (most recent on top)
IIRC Silicon Graphics lost money every quarter for a decade. The last article I read on Tesla said they’re still losing money on every car. Plenty of companies exist solely because investors still throw cash into these black holes. In the case of some FAANG companies their quality has gone massively downhill but the money is still there so they’ll keep paying. When they go bankrupt they’ll dramatically increase the pay for the senior people who will wind down the company (how much real estate did the guy who destroyed Sears extract?)
The FAANGs had two years of massive growth from a captive audience due to the pandemic lockdowns. Reality is now setting in as people get back to normal life, and the outlook for these businesses is causing the NASDAQ to tank.
There will always be big comp packages for the right talent for an important role. The days of money being thrown around to just anyone are over.
i makes $740k in cisco mgr tell team he no touching pay
I know one thing - money is all the matters in this world.
And I'm a genius. That's the first thing.
Genius and money are the same thing.
Look at that Elon Mump fellow.
Timeless.
In this market, I make well over 500K. I love my job, and don't speak with recruiters for any opportunities offering less.
Yes. Companies with differentiated reward systems for the elite, best of the best, technical talent are ki----g it. It's war for the top talent. Companies that don't compete for talent at this level and rely on lower skilled employees lose market opportunities and die.
Now is payback time for all of the expensive schooling, long nights in the lab, and years of improving your skill sets on your own time. At last talent gets paid what it is worth.
With Fed stopping money printing (covid stimulus) and rasing interest rates (with more to come) to tame inflation.. along with Stock markets falling (including fang stocks).. this model will not be sustainable for unskilled roles. However if the individual has real skills, which adds real value to business then dollars will stay for those roles. For others enjoy till it lasts!