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At Facebook, Google, and Snap, at least, the RSUs start vesting immediately (no cliff) and are as good as cash as the stock is liquid. It's not very clear what your distinction is.

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Even if liquid, these salaries probably reflect people vesting stock from years ago - and the high end would include people vesting stock offered at a much lower valuation. In this kind of ranking there’d be a bias towards companies with rapidly growing share prices ... and remember that last performance is no indicator of future returns.

No, these are roughly inline with new hire offers

At all of the five listed levels?

Yes

You can get from 180k to 260k as a new grad at Google.

I'm an L5 that joined a FAANG last year, and earn 440k/yr. If I counted stock inflation, it would be 500k/yr. Most people don't count stock inflation into their total compensation.

When I compare the numbers for my level, I see a salary that is more or less in line with mine, and I see RSU compensation that is in line with the number of RSUs that I received in 2019.

In other words: it does not take into account stock appreciation.

I don't know whether or not that's generally true, but from where I sit, the numbers seem sound and are not inflated due to a rising stock market.

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