They are paying 500k for developers that are just good at leetcode. Hemorrhaging money, convincing themselves they are hiring "top engineers". When are these companies going to learn.
The cryptocurrency industry consciously sells its product to the public using hype. Maybe the insiders believe their own nonsense.
I had no idea Coinbase was paying so much. Even most of FAANG doesn't pay that much. My total comp when I was at AMZN after 5 years at the company circa 2019 came no way near 500k, and this was was with great reviews from both my manager and peers.
Your figures are before 2020. Compensation has increased a lot.
I think the whole developer comp bubble is set to burst sadly. They were riding huge waves of equity grants and now they are crashing to earth. And I'm guessing a lot of these companies are realizing that the ROI for a $600K developer building REST APIs isn't there. I think once the dust settles, salaries will still be very high but not astronomic.
I imagine it will prove fascinating for economists to observe how well the down-stickiness of wages holds up.
A lot of devs makes $400-$600K at big techs. Yes, comps have gone nuts since 2020.
Isn’t Armstrong making $1M per day or something along those lines? Or did they come to senses since going public?
I think he was making around $5m per month... And he only needs $1.6m per year for the property taxes on his Bel Air estate.