zlacker

>>zuhaye+(OP)
Based on what I've seen/heard, they seem to follow a similar comp philosophy to Netflix -- pay top of market to get the best people.

But it's also important to note that only $300K of that is in cash. The other $600K is in profit participation, which could take years (maybe even a decade!) to be realized. It could also be worth $6M a year when it's realized.

But ultimately it's an investment of your time. Or to think of it another way, you're getting paid $900K a year but you're also investing $600K a year in OpenAI, which may end up being an amazing return or nothing at all, just like any startup investment.

Although with Sam at the helm, my guess is it will probably be worth more than $600K a year.

>>jedber+l7
Honestly, if you take 300k home, the risk isn't that high. But the reward is insane.

>>jocaal+uc
To be realistic ... 300K in the bay is barely livable if you're targeting a middle class life with kids and targeting retiring at 65.

First, ~46% of it is gone in taxes including federal tax (~25%), state tax (~8%), FICA (~4%), and sales tax on everything you eventually use the money for (~9%).

So that's 162K left. Not a lot to pay sky-high rents, car payments, insane medical bills despite insurance, lawyers to fight said bills, save up money for parental elderly care, save up money for yourself for retirement, etc.

And yeah, having kids on that money? Very difficult.

If you're not in the bay area, different story, it's a very nice income. But they probably won't give you that package if you're remote.

And if you're in the bay and not planning on having kids, it's an okay salary.

>>dheera+cf
I get what you're saying, but the median income for SFO is way below what tech people get paid. "barely livable" is perhaps a bridge too far for the $300k+ crowd. :)

>>tyingq+yg
The median person in SFO lives a way worse life than a median person in Ohio

>>bluede+Yi
Eh, you'd be surprised how much being able to walk to things, and generally being in a major international city improves your quality of life if that's the kind of thing you prefer...

>>Zetice+Dn
I lived in SF for 9 years. Good memories. And during peak tech boom you could easily shield yourself from the worst of the city. Ubers were cheap, office perks kept you from venturing out, and foot traffic was high enough to make the open air drug use less visible.

But since 2020, it became absolute misery.

I moved to NYC, and I’m much happier here. So your point about being in a walkable city still stands.