Amazon increases capped pay to $350K/year
Most companies simply don't give raises that keep up with inflation. So, the only way to make more money is by leaving after 2 years. Amazon wants to keep their SWEs happy (even though most people don't last very long) and the best way to do that is by increasing their base salary.
Most companies have awful vesting schedules, so it's better to get paid more than to rely on a solid check later on. I know most of us are indies here, but it's crazy to see the money left on the table at full-time positions. If at the end of the day your interested in maximizing revenue, stick to one of the FAANGs and just rest and vest there.
Hi Ryan, this is incorrect, Amazon raised the max cap of the base salary to 350k, not the salaries of SWEs per se. Some people will see a slight increase on their compensation, but not everybody, specially if you are not a new hire.
If you’re in SaaS for maximizing income you’re doing it wrong.
The way I see it
Employed at FAANG: reliable way to quickly become reasonably rich if you manage your finances right. You can work there for ~10 years and retire as a millionaire.
Freelancing / indie business: best way to live your ideal lifestyle from the beginning. Why retire if you love what you’re doing? Probably won’t get rich as reliably but you can still make good money.
VC backed startups: your best bet to get very rich (10M+) but the outcome is far less predictable than FAANG.
Source? I think they simply raised the cap on the base salary... not increasing the salary for everyone. This will allow them to give more in cash and a little lesser in stock.
Maximizing revenue is overrated.... I thought we were maximizing profits and independence? 🤔
Correct - just thought it was interesting news related to the tech space (not the same as the indie hacking space, but adjacent).
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L68 is partner at MSFT so you can't compare it to others
And for context, that's what some of the devs make on my team so in comparison that partner salary is peanuts.