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This newsletter is based on popular demand from my subscriber chat. I am sharing relative numbers and factors which impacted my compensation growth over years.
This is my journey from 2018 till now. I have taken a lot of right and wrong decisions in my life but never regretted.
I have been very transparent on LinkedIN as well that I have optimized money in my early career and also made frequent switches. It has been a hot topic of discussion till now but for me, money has always been a tool to buy freedom.
The best thing that money can buy is financial freedom
Let’s start where I was in each year from 2018 → 2024 and what factors influenced my compensation
TLDR
Sharing the reasons below year by year
2018
Total Comp = X (X is average new grad SWE offer in 2018 at Tesla)
I joined Tesla in February 2018 and got a standard new grad SWE offer. The offer consisted of base, RSUs and annual bonus.
In June 2018, as part of RIF, I was laid off along with other 4000 employees. I was on their payroll till September and fortunately was able to find a job at SAP Labs. Since, I was on visa, so I picked the first job I got. Joined SAP Labs in September 2018.
Initial Offer at SAP Labs = 1.1 X + $12K sign on
The compensation was almost similar to what I was already making, so no increment.
2019
Total Comp = 1.3 * X (X is average new grad SWE offer in 2018 at Tesla)
I spent the majority of the year working at SAP Labs. I got an appraisal which was 5%. I left for Salesforce in November. I joined as a MTS and got a 30% increment over the total compensation I was making at SAP Labs.
Initial Offer at Salesforce = 1.6 X
The average for the whole year was about 1.3 * X.
2020
Total Comp = 1.8 * X (X is average new grad SWE offer in 2018 at Tesla)
I spent the entire year at Salesforce. I got an appraisal which was 3-4%. I spent the entire year as MTS and was promoted to SMTS at end of year but the new compensation kicked off from next year.
2021
Total Comp = 3 * X (X is average new grad SWE offer in 2018 at Tesla)
I got promoted to SMTS and got an increment of 20% over my previous compensation. Spent majority of the year operating as a SMTS at Salesforce. I joined Meta in November as E5
Initial Offer at Meta = 3.5 X + $100K sign on
Considering that I spent majority year at Salesforce, the average for the year was close to 3X.
2022
Total Comp = 3.3 * X (X is average new grad SWE offer in 2018 at Tesla)
I spent the whole year at Meta. The stock went down crazy from the price I joined but I am just calculating the value based on the price at December 31, 2022 i.e. $120
I got an appraisal of 3% and annual refreshers.
Since the stock fell down by 70%, I end up making even less initial Meta offer.
2023
Total Comp = 4.5 * X (X is average new grad SWE offer in 2018 at Tesla)
I spent the whole year at Meta. The stock came back to my grant price and even went above in December
I am just calculating the value based on the price at December 31, 2023 i.e. $350
I got an appraisal of 4% and annual refreshers.
Since refreshers are stacked, the old refreshers increased in value as well which significantly bumped the total compensation.
2024
Total Expected Comp = 6 * X (X is average new grad SWE offer in 2018 at Tesla)
META 0.00%↑ increased by 25% in February
Still working at Meta and this is an approximation of compensation
if META 0.00%↑ stays around $500.
if I spend whole year at my current compensation
Got an appraisal of 5% and annual refreshers
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Wow, that's a lot of salary growth over the past 6 years, if you created a ticker for your compensation, I'd have invested in it, I think it grows faster than any other market!
By the way, it reflects how much work you've put in here and the authenticity is commendable, kudos!
Really impressive Hemant!
jobs hops are always the best way to multiply one's salary.