Most Meta employees are heavily compensated in stock. RSU's and options are what made the top-end of (US) software development so rich, and therefore pulled up the compensation of everyone else at every other level of that market. What effect will this have on compensation for everyone else?
I've never worked at Facebook, but looking at levels.fyi, a Facebook E5- between 4-15 years of experience, based on some other googling- would expect to make ~400k, ~half of that in stock compensation. The stock going down by 70% means that they are not getting the money that they thought they were. Are they going to start jumping ship to other companies? Is this going to flood the market with developers? Will the rest of the top-end of the software engineer market- who already got in trouble for colluding to try and keep down software engineer salaries[1]- lower their offers to match, with knock-on effects further up and down the market? As an American software developer, this matters to me, and I'd expect that a lot of other people would have opinions, rumors, and FUD to share on the topic.
I'm pretty sure bytedance is in the process of taking facebook's place as the high offer talent poacher, which is a shame imo because they aren't an American company
Also (this might not apply to you if you already own a home), but in the Bay Area it's like SWE salaries are tied to the housing costs. At the end of the day, what's the point of that 400k if the housing market leeches off of all of the surplus?
I've never worked at Facebook, but looking at levels.fyi, a Facebook E5- between 4-15 years of experience, based on some other googling- would expect to make ~400k, ~half of that in stock compensation. The stock going down by 70% means that they are not getting the money that they thought they were. Are they going to start jumping ship to other companies? Is this going to flood the market with developers? Will the rest of the top-end of the software engineer market- who already got in trouble for colluding to try and keep down software engineer salaries[1]- lower their offers to match, with knock-on effects further up and down the market? As an American software developer, this matters to me, and I'd expect that a lot of other people would have opinions, rumors, and FUD to share on the topic.
[1]: https://en.wikipedia.org/wiki/High-Tech_Employee_Antitrust_L...