I had a Netflix offer this year I declined (yes, people decline Netflix now and then)
The salary was eye-popping...$400k. That's just to be a senior developer. There were RSUs on top of this so total comp was probably $500k. That's crazy!
I knew if I joined I would be terminated but that didn't bother me...the salary was crazy and apparently the goodbye package is also generous. I suppose it's sort of nuts to know you will be fired from day one though.
In fairness they make sure you understand what you are getting in to. My future manager even phoned me on a Saturday to make sure I understood. So I have respect for them
When the next recession hits, working in tech will get worse and even the monster salaries will go away. Almost no one here has had to experience a real drop in demand for developers
There are no RSUs at Netflix, just for everyone 5% each year of annual salary in free stock options at 40% of current value, vesting every month. You can also use up to 100% of your salary for buying stock options at 40% of current value. The policy made rich many people who invested heavily in the stock options program years back.
The severance package is 4 months of salary.
I doubt you got an offer from there, because it is all very clear, or you did not pay any attention.
Dude I don't even know how the stocks work at my current employer. Can't force you to believe I got an offer there and I'm not forwarding you my offer letter...so choose to believe me or not.
Putting aside the very rude "dude", it is not a matter of how RSUs work or do not work, more simply they never talk about RSUs because they do not give RSUs.
As I said, you never got an offer or you did not pay any attention. It is fine either way, of course. No need for any letter.
Not even remotely similar. RSU for a public company given at $100 per share can be sold at $100 per share (or more or less depending on the value of the share when it is sold). For public companies, that is basically cash. If you buy an option at 40% of current $100 value means you pay now $40 dollars for the option of buying the share at $100 in the future (Netflix has a 10 years horizon). That means that you start making money ($1, pre-tax!) when the stock reaches $141. If it does not happen, you have lost your $40.
400k??? This seems insanely high. Are you one of a kind specialist of sort? I find it hard to believe that regular engineer, even in the prime of his career can expect such high salary.
Their location is brutal and basically transit-inaccessible. You'd have to pay me seven figures to live near Los Gatos or do the crazy commute from some place interesting.
That’s more than double average salary. Seems like worth going for it, even knowing that they will fire you eventually. Hold on for 6 months, make a yearly salary, take 6 months off :)
Most of the time they do not hire average people – in the sense that they are not considered average, then some of them are actually pretty bad, but it is part of the business of false positives.
hmm, from what I have seen, $400k is usually their de-facto salary that gets junior folks (L4/E4) from F/G to make their top of market and move to NFLX. Beyond that, do you know how the comp progression is?
The salary was eye-popping...$400k. That's just to be a senior developer. There were RSUs on top of this so total comp was probably $500k. That's crazy!
I knew if I joined I would be terminated but that didn't bother me...the salary was crazy and apparently the goodbye package is also generous. I suppose it's sort of nuts to know you will be fired from day one though.
In fairness they make sure you understand what you are getting in to. My future manager even phoned me on a Saturday to make sure I understood. So I have respect for them
When the next recession hits, working in tech will get worse and even the monster salaries will go away. Almost no one here has had to experience a real drop in demand for developers