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Silicon Valley Startup Weeby Blows Up Salary Structure For Top Software Enggrs
Posted on 9/23/14 at 12:15 pm
Posted on 9/23/14 at 12:15 pm
quote:
A Silicon Valley startup is changing the playbook when it comes to hiring engineers by paying top talent like pro sports teams pay top athletes.
19-year-old Joe Brown said he spent countless hours on his laptop at home learning how to program. “I heard it was a waste of time a lot.”
His parents don’t think that way anymore. Brown just signed a contract with Mountain View game developer Weeby.co for $100,000 a year, plus $10,000 monthly raises until he reaches a quarter-million a year, plus equity in the company.
“I feel very lucky,” said Brown. “ I guess luck comes to the well-prepared. But I’m lucky.”
Brown is Weeby’s first hire under a new program that is blowing up the salary structure for its top engineers.
“I think in Silicon Valley, there’s this ongoing talent war going on,” said Weeby.co CEO Michael Carter. “The truth is that the best people are worth this much.”
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Posted on 9/23/14 at 12:18 pm to hikingfan
quote:
Brown just signed a contract with Mountain View game developer Weeby.co for $100,000 a year, plus $10,000 monthly raises until he reaches a quarter-million a year, plus equity in the company.
Wow.
quote:
“I think in Silicon Valley, there’s this ongoing talent war going on,” said Weeby.co CEO Michael Carter. “The truth is that the best people are worth this much.”
That's true but if you're tossing out quarter million salaries and equity to 19 year olds, you can't afford to miss on too many of them.
Posted on 9/23/14 at 12:23 pm to hikingfan
I wish I would have learned to program. Such a marketable and in demand skill. I will be attempting to get any children I have in the future interested in it.
Posted on 9/23/14 at 12:25 pm to hikingfan
quote:
“I heard it was a waste of time a lot.”
This really frustrates me.
Posted on 9/23/14 at 12:27 pm to hikingfan
they only want to be a 40 person company, I doubt that will blow up the structure that google, apple, facebook, linkedin, and all the other giant software companies have built.
And as a startup they are probably having to pay more so that people will be willing to work for a company that might not be around in a year.
And as a startup they are probably having to pay more so that people will be willing to work for a company that might not be around in a year.
Posted on 9/23/14 at 12:38 pm to hikingfan
wow..that is nuts. I think to a point this already happens in silicon valley. When you go for an interview, it is a technical interview where hiring managers can gauge your level of expertise. At most companies if the hiring manager wants you, then HR will negotiate with you. It is up to the candidate to decide what he is worth.
I guess in this case though..they are hiring this kid based only on potential. That could be risky because I know a lot of very smart engineers that are not very productive either because they have bad interpersonal skills or bad time management skills.
This could happen in some small startups, but I can't see this catching on in larger more established companies.
I guess in this case though..they are hiring this kid based only on potential. That could be risky because I know a lot of very smart engineers that are not very productive either because they have bad interpersonal skills or bad time management skills.
This could happen in some small startups, but I can't see this catching on in larger more established companies.
Posted on 9/23/14 at 12:51 pm to hikingfan
quote:
His parents don’t think that way anymore. Brown just signed a contract with Mountain View game developer Weeby.co for $100,000 a year, plus $10,000 monthly raises until he reaches a quarter-million a year, plus equity in the company.
Holy shite!
Posted on 9/23/14 at 1:23 pm to hikingfan
quote:
by paying top talent like pro sports teams pay top athletes.
Has anyone seen a professional sports team structure a contract like this or have such a low salary for top talent?
How is this like sports contracts?
Posted on 9/23/14 at 1:25 pm to hikingfan
quote:
“I think in Silicon Valley, there’s this ongoing talent war going on,” said Weeby.co CEO Michael Carter. “The truth is that the best people are worth this much.”
I think we all know the first company that will fold once the bubble bursts.
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