Overpaid FAANG Employees Are Getting A Harsh Reality Check

$1.8 million is way over priced for 1 software engineer

Boohoo poor rich people

Metaverse is dead in the water because a small handful of companies think they can force sole ownership of it instead of being involved in it. It will happen, but it will not be a platform controlled by a company, it'll be an amalgamation of services that collectively decide to allow cross-compatibility. It starts with zero control, as all major systems do, and then it will be infected by advertisers over time. Starting from ground zero as an advertising platform is idiotic and the quickest way to alienate people that would have visited.

People don't want to be sold to, and I don't think advertisers will ever get that through their thick, troglodite skulls.

There's gotta be tradeoffs with those massive salaries anyway.

Take their money and give it to the truck drivers and warehouse workers

Zuckerberg made million dollars mistake and still have a job. Angry birds? Remember?

Haha, Brazilian FAANG employees earning 36K per year sent regards.

A breath of fresh air,bye Indian techies 😢

Those salaries seem high until you see how much it cost to live in Silicon Valley.

San Francisco may even become livable again.

We didn't lay off engineers making 300k/yr plus, they are our best engineers. We laid off the newer, less productive, expendable engineers we only pay 100k/yr

Those two years are very valuable for the smaller companies.

My company is somewhat of a Silicon Valley company, and people used to argue that our salaries are "competitive" to FAANG. Until I found out how much FAANG employees actually make based on TOTAL compensation. The stuff you don't really see outside of base pay.

My friend who got laid off by Meta shared with me his severance was close to $120K and he's only a "mid level" senior. Can't imagine how much the staff and higher employees made. You see even after these FAANG employees get laid off, they still get paid so much they can take their juicy time to find another job. Heck some can wait long enough and eventually go back.

So I can completely understand the overall sentiment of people not feeling sorry for these people.

I'm enjoying all this because I only buy shares of companies that pay dividends, not token dividends either.

The markets are still doubtful that the Federal Reserve will keep to its plan to raise interest rates until inflation is under control, even if bond yields are rising while stock prices are falling. What is the greatest method to profit from the current bear market while I'm still deciding whether to sell my $401,000 worth of stocks?

I’m sort of happy FB are hitting tough times. This company via Zuck were finned $24 million for election interference. Arms length fancy named election ‘helping’ companies, totally fake cover for outright cheating. So if this is Khama great bring it on.

Good riddance. There is absolutely zero chance these tech workers and someone who came out of a 6 month bootcamp or some average 4 yr degree get paid in the hundreds of thousands when a 13 year old kid who has an interest in programming can do the same thing. The gravy train is over and I hope all these overpaid tech workers have to join the real world. As an investor, I'm sick on compensating these lavish lifestyles to just corporate fat.

These corporations are FRAUD and steal from other countries, specially the poor ones.

I like how everyone in America works for "a background company", as if the whole finance, farming, and forestry industries are just ancillary to the US's existence.

Someone making $150k at TI in Dallas Texas would be living a better standard of living than someone making $300k in San Francisco. With an income of $300k you are in a combined CA and Fed tax rate of 44.3% plus spending 4 to $5k in rent for an apartment. In texas with an income of $150k you would be paying 24% taxes and paying $3k for a good sized house.

As for stock options just downsize them efore they hit four years that way you don't have to pay out the stocks.

I dislike the statement, " you can't feel sorry for them, because they were making high salary"... thats just jelousy talking. Truth be told, these people have families, and have structure there life's to there current salary. So if they are no longer making that salary, things will def become hard for them and there families

A lot of gross, pro-corporate, anti-worker sentiment in the comments lmao. I have worked "blue" and "white" collar jobs. They're both work. I don't think people willing to break their bodies weekly for a check are the only people deserving of any job security whatsoever. I don't really think most of the workers have been overpaid either, considering they're responsible for keeping multi-billion dollar corporations in business and drawing in billions in profit. Corporations shouldn't really have much expectation of worker loyalty because they have zero loyalty to the workers.

Ai is replacing all these ppl n they wanna keep it quiet for as long as possible

If all those employees refused to go to work. It would be the robber Barron's getting the reality check. Except America is a land of cowards. That literally allowed themselves to be treated like garbage. Americans have no balls.

If they were let go and had no money after the amount they made then that's poor planning. I'm hanging right above Bidens Poverty line.

Looks like humble pie is on the menu for some of these self absorbed jerkoffs.

how do you figure they are overpaid? google, facebook, etc. generate over $1M+ in revenue per employee. they pay their SWE $300K + snacks and pocket the rest. if the google engineers were smart they'd have a union and fight with google to split more of the profits with them

Thats fine and dandy but don’t we still have loads of startups which have not conquered the megamarket yet but seem to be heading there? So can’t the layed off FAANG employees work for those companies now? Or the number of promising investmentworthy new tech startups is also declining? If so then why?

Thanks Biden.

I won't be happy until interest rates are up at least to 20%! This is the only way to reverse inflation!

That's not the main reason they pay the majority of the salary in stock rather than an actual salary. The main reason they do that is so that the employee doesn't have to pay as much federal and state tax. If you pay them a 1/2 a million dollars a year in salary they're going to have to pay about 37 to 38% of that In federal tax. But if you pay them in stock and they hold that stock for at least 12 months they don't have to pay but 15% capital gains tax.
It's called a tax loophole

Crazy that these companies were willing to gamble with their entire pool of investors just to keep up an inflated bidding war over talent. And to what end? How many talented devs want to work for a company where there is no longer any sense of long term job security? Terrible.

"Reality check": 6-figure BASE salaries and a list of "perks" that can't fit here.

FAANG employees haven't produced anything that got consumers talking for almost 5 years while they were getting paid the most.

This will be the final nail in the coffin for birth rates.

Overpaid is a strong term to use for anyone except the C suite

who the f. wants to build fairy-tale children environment (metaverse) for a living? you get home at the evening and you are thinking: "I did something impotant for the society today" :D probably that's why the salaries are so high.

Technolgy companies are not immune to market forces as previously thought and so money is running out which means you have to get less people to do more. Tech companies overextended themselves. They have to do what older industries have been doing for years for leveraging when it gets hairy out there.

AI is about to change the landscape for everyone in tech including the higher level programmers. Will be interesting to see what they will do since AI will be doing many of their old jobs.

This is crab bucket nonsense meant to distract from the fact that in the same time period CEO salaries have gone up TWO THOUSAND percent. God forbid the people generating the increased profits see any of it.

They hire ?

1.8 million 😮😮😮😮

its true. These FAANGs can pay such crazy salaries because they pay no tax and they pay no dividends as a result they hoard cash and use it on their employees, they then use this money to drive asset price inflation. the economy is breaking down because big money is not being paid to the right people which would push societal progress the most.

So they literally just print new stocks so long as the company keeps growing?