Facebook/Meta stock lost 30% of it's value a few months back and may not recover any time soon.
Many of these people are high level, so I'm guessing (based on a quick skim of levels.fyi) about 50% or more of their TC comes from stock.
This amounts to an effective 15% pay cut in a year with record inflation.
I think most of us would leave our job over a 15% pay cut, especially if we were well established in the field. On top of this it loosens those golden handcuffs quite a bit for anyone who was on the fence about being employed by facebook, but couldn't say no to the comp.
Facebook/Meta stock lost 30% of it's value a few months back and may not recover any time soon.
Many of these people are high level, so I'm guessing (based on a quick skim of levels.fyi) about 50% or more of their TC comes from stock.
This amounts to an effective 15% pay cut in a year with record inflation.
I think most of us would leave our job over a 15% pay cut, especially if we were well established in the field. On top of this it loosens those golden handcuffs quite a bit for anyone who was on the fence about being employed by facebook, but couldn't say no to the comp.