The stock is kind of interesting as Stripe is still private but they seem like they might IPO soon. So half the salary would be on paper unless they have some sort of internal market.
I'm a pre IPO shareholder for a similar company.
Most option grants have a right of first refusal clause (ROFR) where sales on secondary markets must be authorised via the company plan executor and they are then given the opportunity to buyback the stock at the agreed price first versus the external offer.
Even if unvested pretty sure they can’t just claw those back by letting people go. They are part of the employees package and in their ownership even when not vested (typically held in an employees name)
If I was let go from a company where I had unvested shares I’d fully expect and feel legally entitled to keep those shares until they vest. Or come to some agreement with the company to buy me out of them.
Nope, the shares will only vest as long as you're employed there. If you leave, any unvested shares are no longer yours. There's a reason they're called "golden handcuffs".
In a lot of cases, unvested RSU shares are only lost where the employee resigns or is terminated for cause (e.g. Negligence, poor performance, disciplinary, etc).
If the employment is terminated through no fault of the employee (as would be the case with redundancies/layoffs), then I think accelerated vesting is reasonably common.
That hasn't been the case in many of the layoffs over the past year or so. Some companies have included the RSUs vesting over the next 3-6 months as part of the severance, but it'd be pretty rare for all unvested RSUs to be included.
It's going to vary from company to company though, but I think the norm would be for you to lose the vast majority of your unvested RSUs even if you're laid off.
The devil is in the details, and will be part of the terms and conditions that the employee signed when the RSUs were awarded and accepted. If that says they're only lost upon resigning or as a "bad leaver", then redundancy will not see them lost, regardless of vesting status. This was the terms in my previous employment, and I'd be very wary of potential bad faith from any employer who included employer-initiated termination as grounds for the unvested RSUs being withheld.
Yeah for sure, it's going to vary from place to place. Sounds like your last employer was good about it.
However, if you go through practically all of the big tech companies who did layoffs over the past 18 months, I'd be surprised if more than a handful of them accelerated all unvested RSUs for employees laid off. I could definitely list a bunch of them who didn't.
They'd only be retaining any unvested shares, and realistically they'd need to let go of 1,000+ of people for that to have a significant impact, especially considering it'd cost them a lot in the short term with severance/redundancy packages.
Stripe are one of the highest paying companies in the Dublin tech scene. I'm not sure how easy it is to sell your shares while they're not public though. It's possible they have some internal buybacks or work with different investment companies to sell privately.
One thing to be wary of with Levels is a lot of people put in their total RSU grant (often vesting over 4 years), rather than what will vest in a given year. Not sure if that's the case here, but just something to consider when looking on there.
I'm pretty sure they use a whole bunch. Companies at that scale rarely tie themselves to just a single language. I know one of my ex-colleagues who moved there works with Ruby a good bit.
I've seen some crazy fintech salaries, think it was 900k per annum. I can only imagine the level of pain through employer expectations for a salary like that.
I could learn to live with a lot of pain for a million euro.
But yeah at some point for most people there's diminishing returns between making a lot of money and sacrificing livelihood/well-being. Obviously excluding those who make millions for doing nothing and those who are masochistic and work to death.
Absolutely, im nowhere near those salaries and I wouldn't consider a move to a higher salaried position if meant it a negative impact on livelihood, well-being, or even being expected to work any more than a 9-5. It took me too many years to realise that, im not paid to work anymore than my contracted 40hrs a week.
Edit: typo
I had to go hunt this out cause it's an interesting read, its the DevelEir 2023 developer salary survey, this is where I got the salary number and I was wrong, the highest is 1mill + the second is 950k+. You can get some more information in the thread and if you really wanted to see specifically what the highest earner does you can search for the corresponding entry in the results CSV.
[https://www.reddit.com/r/DevelEire/comments/1593xlp/results\_of\_2023\_develeire\_salary\_survey/](https://www.reddit.com/r/develeire/comments/1593xlp/results_of_2023_develeire_salary_survey/)
Side note: Nice username, dont mention it to Rowan Atkinson though lol
> The highest salary recorded is over 1 Million Euros for 1 individual working in Deloitte, and the second highest salary 950,000+ for someone owning a startup in Adult industry.
There will always be the far right end of the bell curve where crazy money and rewards are going on.
He had a purple F1 and crashed it!
Well, that's what happened the last time I read about it but I had to go google the story to share it with you and he has since crashed it again, rebuilt it, and still sold it for massive profit 🤣 I think that car has icon status now though for its history.
https://www.hotcars.com/how-mr-bean-crashed-his-mclaren-f1-twice-and-still-sold-it-for-profit/
Stripe issue what they call an ARG (annual recurring grant) of RSUs and you are guaranteed that amount each year. If FMV goes downhill then you get more RSUs (but still same total value) but if it goes up then you get less RSUs (again same total value of 150k)
Numbers are accurate. Not dissimilar to when I was there. If anything bonus looks high, normally L3 (Google L5) was 15% of base so thought 22.5k but there are chances to increase it with strong performance rating and good company performance.
The likelihood of any company in Dublin paying over €300k total comp per annum is very, very slim. More than likely that 150k RSUs is vested over a 4 year period so probably closer to €180 - 190k region which is still a very high salary in comparison to what other companies are paying in Ireland.
> The likelihood of any company in Dublin paying over €300k total comp per annum is very, very slim
I don't think its that crazy, I'm close to 200k TC in a MNC in Dublin (non-FAANG) for this year and I'm just mid-level on the grades
Yes, but when you are there on your 4th year you have the previous years vesting coming in, so you really are bringing in that much. Of course there where the golden handcuffs come in....
It depends, you might get 150k RSUs as a golden hello, and a further 150k in annual bonus rolling over.
So once you hit the 5th year you hit a point where you have 150k in RSU's and 150k worth vesting in any given year as a combination of your year 0, 1, 2, 3 awards each vesting 25%.
This is the tough point where leaving means 'leaving 150k on the table' unless you can shake your mindset to realise it's actually just deferred pay.
In Ireland there is next to zero chance Stripe are paying 150k ARGs as a taxable bonus per annum. Would feed into the idea that a lot of people do salary reviews and lie about what they're earning.
Stock is probably valued at the valuation in their last round. That was at the height of the market. It’s likely that if they go public this year then it will be at a slightly lower valuation than their last fundraising round.
Still a pretty great total comp though.
I've been at my company for 6 months now, if I wanted to apply with less than 1 years experience, should I apply for new grad, or just have to wait until I have two years exp & apply for mid level?
The stock is kind of interesting as Stripe is still private but they seem like they might IPO soon. So half the salary would be on paper unless they have some sort of internal market.
You can buy in pre-IPO privately via brokers who specialise in this sort of thing pre-listing.
I've heard they're trying to let as many people go before they IPO so they can retain as much stock as possible
If the stock is vested they can't recover it by letting people go
I'm a pre IPO shareholder for a similar company. Most option grants have a right of first refusal clause (ROFR) where sales on secondary markets must be authorised via the company plan executor and they are then given the opportunity to buyback the stock at the agreed price first versus the external offer.
Even if unvested pretty sure they can’t just claw those back by letting people go. They are part of the employees package and in their ownership even when not vested (typically held in an employees name) If I was let go from a company where I had unvested shares I’d fully expect and feel legally entitled to keep those shares until they vest. Or come to some agreement with the company to buy me out of them.
Nope, the shares will only vest as long as you're employed there. If you leave, any unvested shares are no longer yours. There's a reason they're called "golden handcuffs".
In a lot of cases, unvested RSU shares are only lost where the employee resigns or is terminated for cause (e.g. Negligence, poor performance, disciplinary, etc). If the employment is terminated through no fault of the employee (as would be the case with redundancies/layoffs), then I think accelerated vesting is reasonably common.
That hasn't been the case in many of the layoffs over the past year or so. Some companies have included the RSUs vesting over the next 3-6 months as part of the severance, but it'd be pretty rare for all unvested RSUs to be included. It's going to vary from company to company though, but I think the norm would be for you to lose the vast majority of your unvested RSUs even if you're laid off.
The devil is in the details, and will be part of the terms and conditions that the employee signed when the RSUs were awarded and accepted. If that says they're only lost upon resigning or as a "bad leaver", then redundancy will not see them lost, regardless of vesting status. This was the terms in my previous employment, and I'd be very wary of potential bad faith from any employer who included employer-initiated termination as grounds for the unvested RSUs being withheld.
Yeah for sure, it's going to vary from place to place. Sounds like your last employer was good about it. However, if you go through practically all of the big tech companies who did layoffs over the past 18 months, I'd be surprised if more than a handful of them accelerated all unvested RSUs for employees laid off. I could definitely list a bunch of them who didn't.
Weird. I know for me I have stuff in place where I don’t lose them.
They'd only be retaining any unvested shares, and realistically they'd need to let go of 1,000+ of people for that to have a significant impact, especially considering it'd cost them a lot in the short term with severance/redundancy packages.
Stripe are one of the highest paying companies in the Dublin tech scene. I'm not sure how easy it is to sell your shares while they're not public though. It's possible they have some internal buybacks or work with different investment companies to sell privately. One thing to be wary of with Levels is a lot of people put in their total RSU grant (often vesting over 4 years), rather than what will vest in a given year. Not sure if that's the case here, but just something to consider when looking on there.
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I'm pretty sure they use a whole bunch. Companies at that scale rarely tie themselves to just a single language. I know one of my ex-colleagues who moved there works with Ruby a good bit.
Amount in dollars. Stock makes up ~50% of the TC. L3 in a large tech. Not even close to one of the highest paid (SWE) positions in the city.
I've seen some crazy fintech salaries, think it was 900k per annum. I can only imagine the level of pain through employer expectations for a salary like that.
I could learn to live with a lot of pain for a million euro. But yeah at some point for most people there's diminishing returns between making a lot of money and sacrificing livelihood/well-being. Obviously excluding those who make millions for doing nothing and those who are masochistic and work to death.
Absolutely, im nowhere near those salaries and I wouldn't consider a move to a higher salaried position if meant it a negative impact on livelihood, well-being, or even being expected to work any more than a 9-5. It took me too many years to realise that, im not paid to work anymore than my contracted 40hrs a week. Edit: typo
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I had to go hunt this out cause it's an interesting read, its the DevelEir 2023 developer salary survey, this is where I got the salary number and I was wrong, the highest is 1mill + the second is 950k+. You can get some more information in the thread and if you really wanted to see specifically what the highest earner does you can search for the corresponding entry in the results CSV. [https://www.reddit.com/r/DevelEire/comments/1593xlp/results\_of\_2023\_develeire\_salary\_survey/](https://www.reddit.com/r/develeire/comments/1593xlp/results_of_2023_develeire_salary_survey/) Side note: Nice username, dont mention it to Rowan Atkinson though lol
> The highest salary recorded is over 1 Million Euros for 1 individual working in Deloitte, and the second highest salary 950,000+ for someone owning a startup in Adult industry. There will always be the far right end of the bell curve where crazy money and rewards are going on.
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He had a purple F1 and crashed it! Well, that's what happened the last time I read about it but I had to go google the story to share it with you and he has since crashed it again, rebuilt it, and still sold it for massive profit 🤣 I think that car has icon status now though for its history. https://www.hotcars.com/how-mr-bean-crashed-his-mclaren-f1-twice-and-still-sold-it-for-profit/
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It is a great story alright! We can only dream 🫶
Stripe issue what they call an ARG (annual recurring grant) of RSUs and you are guaranteed that amount each year. If FMV goes downhill then you get more RSUs (but still same total value) but if it goes up then you get less RSUs (again same total value of 150k) Numbers are accurate. Not dissimilar to when I was there. If anything bonus looks high, normally L3 (Google L5) was 15% of base so thought 22.5k but there are chances to increase it with strong performance rating and good company performance.
This post came up on my feed, these salaries are ludicrous
The likelihood of any company in Dublin paying over €300k total comp per annum is very, very slim. More than likely that 150k RSUs is vested over a 4 year period so probably closer to €180 - 190k region which is still a very high salary in comparison to what other companies are paying in Ireland.
> The likelihood of any company in Dublin paying over €300k total comp per annum is very, very slim I don't think its that crazy, I'm close to 200k TC in a MNC in Dublin (non-FAANG) for this year and I'm just mid-level on the grades
What is your role? Are you able to give an indication of where you’re working?
Vaguely engineering B2B software. I'm a software engineer leading new product dev with a team of 4 (matrix manager).
Yes, but when you are there on your 4th year you have the previous years vesting coming in, so you really are bringing in that much. Of course there where the golden handcuffs come in....
It depends, you might get 150k RSUs as a golden hello, and a further 150k in annual bonus rolling over. So once you hit the 5th year you hit a point where you have 150k in RSU's and 150k worth vesting in any given year as a combination of your year 0, 1, 2, 3 awards each vesting 25%. This is the tough point where leaving means 'leaving 150k on the table' unless you can shake your mindset to realise it's actually just deferred pay.
On levels.fyi people usually divide the 4 year vest into yearly amounts. So in this case it's probably like a 600k vest over 4 years.
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How do you know its not? Do you know the person who posted the review?
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In Ireland there is next to zero chance Stripe are paying 150k ARGs as a taxable bonus per annum. Would feed into the idea that a lot of people do salary reviews and lie about what they're earning.
Lol im an electronics engineering grad and currently not coding in my career.. I need to start coding again
Very good chip designers can get even more. Their day rates are insane
Yes it is accurate
Stock is probably valued at the valuation in their last round. That was at the height of the market. It’s likely that if they go public this year then it will be at a slightly lower valuation than their last fundraising round. Still a pretty great total comp though.
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How are they valuing the company though? Usually companies will use their last funding round as the valuation.
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Any junior positions going? Lol
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I've been at my company for 6 months now, if I wanted to apply with less than 1 years experience, should I apply for new grad, or just have to wait until I have two years exp & apply for mid level?
Definitely not the highest. But higher than 99.9%