They could save a substantial amount of the salaries by offshoring their technical team.
Even to the UK, where tech salaries top out around $100k.
Even to the UK, where tech salaries top out around $100k.
Citation needed.
I work in a FAANG in London. I am a middle-performer in a non-senior position and not even a "real" software engineer (I code, but its not my main job responsibility) and I am £84K/$101K basic, £149K/$180k total-comp. If I were a proper engineer, I'd expect to get at least 15-20% more than that, and if I were promoted to a "senior" position I'd expect a similar 10-15% pay rise too.
There is money to be had in London.
* 150k cash base
* 80k cash bonus (between sign-on & EOY performance)
* 225k vests in the first year? 900k over 4 years?
* What's an RSU guarantee? Does it convert to cash if some price is not met by the time it vests? I couldn't find anything on Google about this, but I am probably looking in the wrong place
That only works if you're building a new team and product from scratch. Even then if management if in the US the communication issues will cause problems. Trying to outsource an existing live product is very expensive (ie: better get those massive retention bonuses ready so your whole US team doesn't bail the second it's announced) and error prone (ie: rebuilding all that knowledge about the product and market takes time).
Plus there's a very large financial tech consulting market where you can make loads more as a contractor.
Consulting is definitely lucrative.