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Have you ever thought of finance jobs at tech companies? Specifically senior financial analyst or finance manager roles. I start as an SFA (having never worked in FP&A) at AWS in a couple weeks, and finance at tech companies seem to lean much more into the data analyst side of things.
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Apr 22, 2024 19:04
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Mustang posted:Have you ever thought of finance jobs at tech companies? Specifically senior financial analyst or finance manager roles. I start as an SFA (having never worked in FP&A) at AWS in a couple weeks, and finance at tech companies seem to lean much more into the data analyst side of things. Oh, good idea! I haven't specifically looked at that yet, but I live in the Seattle area so that would definitely be worth pursuing.
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Apr 22, 2024 19:11
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Only thing I'd add is that from looking at the LinkedIn profiles of other big tech finance folks, it seems the big tech companies typically down-level people if it's their first role in tech. Like senior finance managers from a finance firm coming in as a finance manager, or a finance manager coming in as an SFA.
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Apr 22, 2024 19:16
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When is a contract position worth considering? I've been approached by a couple of recruiters for 6-8 month contract roles that very sound interesting, but at the same time the idea of leaving my role (where I'm well regarded and have a decent amount of job security) for something with a definite end-date feels a bit daunting.
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Apr 23, 2024 04:44
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dpkg chopra posted:When is a contract position worth considering? I've been approached by a couple of recruiters for 6-8 month contract roles that very sound interesting, but at the same time the idea of leaving my role (where I'm well regarded and have a decent amount of job security) for something with a definite end-date feels a bit daunting. what multiple of your salaried hourly is the contract role paying?
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Apr 23, 2024 18:18
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dpkg chopra posted:When is a contract position worth considering? I've been approached by a couple of recruiters for 6-8 month contract roles that very sound interesting, but at the same time the idea of leaving my role (where I'm well regarded and have a decent amount of job security) for something with a definite end-date feels a bit daunting. In tech I get these contract offers fairly often and there’s practically no scenario in which I’d leave my salaried position for a single digit multiplier of my hourly wage. The only scenario I would even consider it is if said contract was enough money in the contract to be equal to 2 or more years at my current salary during the duration of the contract and paid for something desirable like top secret government clearance. Beyond that not worth leaving my steady tech job. Maybe if things got really bad at my job and I was looking for an immediate exit strategy.
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Apr 24, 2024 16:19
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I feel like contract work like that is good when you're trying to establish yourself in an industry but cause burn out and can be limiting if you're trying to secure a more leadership oriented path. So kind of a thing for people young in their career, imo.
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Apr 24, 2024 16:21
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There are people who like doing contract work because it doesn't tie them to a specific company, but honestly if you don't immediately come up with that on your own you're probably not one of them.
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Apr 24, 2024 16:33
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My Uncle decided to do contract engineering work in the 90’s and 00’s and his method was akin to “I’m going to work for a year, then take 3-6 months off to work on my model train hobby and travel to <exotic locale>, then spend 3-6 months looking for my next contract opportunity” So I think OP above who said something like 200%+ multiple of you current yearly salary feels like a decent gauge. E: \/\/ Benefits is a good point…My Uncle had a wife who carried the insurance during his times off! I’m sure the calculus is a bit harder if you need to pay COBRA or pick up a marketplace plan every time. Crazyweasel fucked around with this message at 12:20 on Apr 25, 2024 |
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Apr 25, 2024 11:55
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All of the contract roles I've seen advertised recently have paid, essentially, the same hourly wage I am on - but without the benefit of annual or sick leave, all casual! It's an obscenity cos I'd actually be happy to consider contract work but financially there seems to be no benefit
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Apr 25, 2024 12:11
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I have a short call today so we’ll see. Like a month ago I might have considered if the pay was at least somewhat better (once you factor in taxes and overhead) and the role was a good way to get experience and connections at an interesting company. But now the situation at my spouse’s company has become too unstable right now to risk both of us having no health insurance if she gets fired.
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Apr 25, 2024 12:27
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There's all kinds of contract roles and you need to be clear about what it is - is this a staffing company doing placements and you get a W-2, is this a defined term W-2 role, is this a 1099 role for a defined scope of work, etc. People just say "contract role" and that can mean many different things depending on the situation.
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Apr 25, 2024 13:32
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Yeah my assumption here is W-2 on a fixed term, which won't have tax implications necessarily. For pay on those I typically see more entry level stuff being the same pay (but you benefit from experience and probably a lower bar of entry) but for higher end jobs or should have higher pay. If not I'd only take that if I was getting somewhat desperate.
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Apr 25, 2024 14:03
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Might be too specific for this thread but wanted to get a gut check on a situation. Recently had a reorg in my company, my separate business subunit (50ish people, highly specific R&D) got absorbed back into the main company with the "assurance" that our work is continuing. I'm an individual contributor that fits in well with another group and my manager (director level) and I were merged into that other engineering group. I bring some new skills and experience so I'm not worried about being made redundant anymore than I have been. Last week I found out that I'm moving under an individual that's a level above me (e.g. senior engineer 2 vs. my senior engineer 1), that reports to the director of that group. My former manager is now working alongside my skip-level boss without any reports. My new manager has a similar education but ~3 years less experience post graduation. Initially I was pretty pissed about all of this and felt like I was getting buried, been in this role for about 1.5 years and felt like my promotion potential just got flushed. Since we were so siloed from the main organization, nobody really has any idea what sort of work was accomplished so I'm pushing to bring that forward ASAP. Any thoughts? Not much out there job wise but I did rage apply to a position the day I learned about the change. I assume my new manager may be title swapped to the "management track" sometime in the future but nothing has really been brought up about this. This person could be a rockstar and everything will be fine but could use some tips on how to make sure I don't get buried and stagnate in my role.
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Apr 25, 2024 16:41
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Mr Newsman posted:Since we were so siloed from the main organization, nobody really has any idea what sort of work was accomplished so I'm pushing to bring that forward ASAP. This is what really jumps out at me. You're doing the right thing by building awareness of what your group's been doing recently. I wouldn't start applying for new jobs seriously just yet based on what you've posted but having an up-to-date resume never hurts.
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Apr 25, 2024 16:44
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Yeah, I did update it and actually sent it around to the new people above me. It was sort of requested by one person in that reporting line anyways. I wasn't that concerned until chatting with a different former manager of mine who got pretty grumpy about it. Kneejerk reaction was that it felt like getting demoted in a way. Obviously there are opportunities here. Sucks that it feels like a new job again though.
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Apr 25, 2024 17:14
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There's so many moving parts, really hard to say. I wouldn't rage too much about the title of the person you report to, these things change fast and it doesn't necessarily limit you at all. The fact that your former manager is losing his reports means getting a new manager is probably for the best. Senior 1 to Senior 2 usually takes more than 2 years, when do you think you're actually up for a promotion? How many people report to your new guy? Honestly I'd say keep an open mind and don't rage or have a lovely attitude and see how things shake out. If you get the bad vibes bail. It sounds like these re-orgs are bigger than you so if you're getting squeezed you won't change things.
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Apr 25, 2024 18:14
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Lockback posted:The fact that your former manager is losing his reports means getting a new manager is probably for the best. Yeah it was just me and him in the former business subunit, hiring freezes meant no additional headcount and then work wasn't really materializing outside of the projects I was handling. I think he is mostly on his way out anyway so it was going to happen regardless from what I've been observing. I assumed I was going to report to my new skip-level if there was a change. Not sure re: promotion. This position was a lateral move for more money so I probably have 3-4ish years in this sort of role. I think it'd be straightforward to get a bump by jumping. My new manager has one current report and has been managing them for a year-ish from what I can see. Definitely keeping an open mind. Appreciate the comments. Bit blindsided by the decision to place me where I am but like you said, just need to see how it shakes out.
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Apr 25, 2024 20:28
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dpkg chopra posted:I have a short call today so we’ll see. Had the call. Best case scenario it would be a 25% pay bump and I would be a w2 for the staffing company (we didn’t discuss whether healthcare would be covered). The role was interesting but not interesting enough for just a 6 month commitment. I think. I’d have to interview anyway and I figure interviewing is worth it even if I don’t take the offer if only to be in their radar. Very annoying just offer me a job ffs.
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Apr 27, 2024 07:15
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In the US staffing companies hiring W-2s still usually offer benefits (they usually have to) but they're typically not quite as good. That's situational though.
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Apr 27, 2024 14:53
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does anyone know of a good survey or site detailing which companies are viewed as the most "desirable" places to work at by elite college grads? where do kids graduating from the ivies, stanford, MIT, etc., want to work for their first job? what companies are they fighting to get into? hopefully looking for quantitative data on this. I know stuff like "big tech good" and so on.
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Apr 27, 2024 19:41
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pmchem posted:does anyone know of a good survey or site detailing which companies are viewed as the most "desirable" places to work at by elite college grads? where do kids graduating from the ivies, stanford, MIT, etc., want to work for their first job? what companies are they fighting to get into? is this not just "what has the fattest comp package?"
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Apr 27, 2024 20:23
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Here's a 2022 report from Universum on the most attractive employers for business, engineering, and IT students. They surveyed 185k students. https://poetsandquants.com/wp-content/uploads/sites/5/2022/11/WMAE_2022_report.pdf    I went to a t20 MBA program and I'd say that looks pretty accurate. Some of my friends went to higher ranked MBA programs and the perception I get is that the top consulting firms are more sought after in their schools, though maybe not higher than FAANG (or whatever they call the big tech companies these days).
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Apr 27, 2024 20:27
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Mustang posted:Here's a 2022 report from Universum on the most attractive employers for business, engineering, and IT students. They surveyed 185k students. this is perfect, thanks. their interactive 2023 ranks are here: https://universumglobal.com/rankings/united_states/engineering/
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Apr 27, 2024 21:18
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I am currently living in $Asiancity, and am about to move overseas for a global role. Earning X at <20% tax, cash/equity split is 80/20ish. I’m in good standing with my VP, who has given me two choices: Option 1: Move permanently to US. Gross comp is 2X but effective tax is about 20 percentage points higher, and the cash/equity split would need to be more equity less cash. Rent my own home. Option 2: Assign to $other1stworldcountry. Gross comp only 1.3x including COLA but no change to cash/equity split, plus tax equalization. Housing is comped. I also have certain fixed expenses in $Asiancity that for various reasons will need to be paid in either scenario, equal to about 0.25x. Overall the difference is: option 1 +++equity —cash. Option 2 ++cash —equity. I already went with option 2, but have a short window to change my mind. What I’m curious about is whether there’s any structural long term advantage to being in the US that I am missing. Overall it seems like a truly insane amount of hassle for a bigger number on paper that will be eaten up quickly with high tax, high costs of living and poor social support that means I need to buy a lot of basics privately. Also I’m not rich enough to just bet on the equity. But maybe it’s actually just really good to be on a path to US PR due to job market, economic prospects and what have you? Also not sure if I am undervaluing having a higher total comp on paper for future employment due to a higher base. Level wise I’m something like an Amazon L8, and I have a weird, unique and hard to explain role with a funky combined skillset (professional qualifications + sales, biz dev and stakeholder management). Beefeater1980 fucked around with this message at 14:41 on May 11, 2024 |
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May 11, 2024 11:27
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What do you mean regarding poor social support? The US sucks rear end for anyone below like the top 5-10% in terms of income but with the type of role you describe you would certainly have good employer sponsored health insurance etc.
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May 11, 2024 12:53
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Beefeater1980 posted:I am currently living in $Asiancity, and am about to move overseas for a global role. Earning X at <20% tax, cash/equity split is 80/20ish. I’m in good standing with my VP, who has given me two choices: i expect youll be way further ahead in US. your current company may be lowballing your US comp, but if they're helping with [a transferrable] work authorization i'd go with US. at L8 you should be in the top .1% income. it will be easier to send money back home if you have way more money.
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May 11, 2024 13:19
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KYOON GRIFFEY JR posted:What do you mean regarding poor social support? The US sucks rear end for anyone below like the top 5-10% in terms of income but with the type of role you describe you would certainly have good employer sponsored health insurance etc. I have a general sense based on biz trips over the last 10 years or so that lots of touchpoints with public or utility services - minor health issues; the cost of getting electricity, gas, heating; public transport, education for kids and so on - are high friction in terms of time and cost in the US. I know them to be low friction and low cost in Country 2. leper khan posted:i expect youll be way further ahead in US. your current company may be lowballing your US comp, but if they're helping with [a transferrable] work authorization i'd go with US. Yeah would be L1 visa. It’s definitely not 0.1% levels in real terms, even pretax. US comp probably is lowballed - my guess is 20-25% under FAANG equivalent. But because I need to maintain a household in home place either way, but in US I have to rent for myself and in Country 2 I get a housing allowance, the cash delta is significant. The numbers favor country 2 month to month, US longer term if I value the equity at face or higher. My question is about qualitative / external factors. Is there something that means it’s worth the hassle of moving to the US, being on IRS radar, worrying about kids dealing with anti-shooter drills in schools, getting used to an unfamiliar culture, and so on (I am aware the chance of actually being in a school shooting incident is very low, but having to think about it as a possible scenario seems to me very damaging for kids)?
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May 11, 2024 14:40
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How many more years do you expect to work for? Based on level, once you have your transferable visa your total comp will go way up once you jump companies. The healthcare / infrastructure friction points are friction, but generally only the first time. Once they're set up, it's just more of the same. What part of the US would you be based in? That would make a big difference. Is your spoken English fluent or close? Is your family's? How familiar are you and your family the cultural/ language in country 2?
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May 11, 2024 15:06
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KYOON GRIFFEY JR posted:What do you mean regarding poor social support? The US sucks rear end for anyone below like the top 5-10% in terms of income but with the type of role you describe you would certainly have good employer sponsored health insurance etc. If you are not living in one of a scant handful of places in the U.S., you will need to have a car, and those scant handful of places are wildly loving expensive. Having to drive yourself everywhere every day is loving awful for your health, both physical and mental, especially in the environment you're driving in in the U.S. Even if you have good health insurance, it is entirely possible for you to be heavily out-of-pocket on a health expense. If the health expense isn't due to something that happened to you at work and you get fired because you can't work any more, you are completely hosed. If it is due to something that happened at work, it will likely be loving years before you get paid out, and in the meantime you aren't going to be able to make rent, which goes double if you're living in one of the places where you don't need a car. If it's a car accident that causes you to not be able to work, and it's the other person's fault, it's very likely they aren't going to have enough insurance to cover you, and you're going to be falling back on your own insurance, only now that insurance is going to be fighting you saying it's not their problem because you should be getting it from the auto insurance. If you're from the U.S., navigating the healthcare bureaucracy to try to get treatment is a Lovecraftian loving nightmare; if you're not from the U.S., I can only imagine it's much, much worse. This is to say nothing about having to manage U.S. taxes and U.S. credit reports, to say nothing of the relatively constant everyday stressors of things like everything being more expensive than its price, having to figure out whether or not whatever item you're buying from even "reputable" retailers is a scam with no fallback if it is, trying to get prescription medicine if you need it, etc. If I weren't American, and my options were "move to any of several industrialized countries that's not my native country or the U.S., or move to the U.S.," unless they're paying me "hire someone else to deal with all the bullshit American society foists on its citizens" money (and I strongly suspect 1.55x ain't it), I would be writing off the U.S. as well. Money is happiness, but also happiness is happiness.
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May 11, 2024 18:38
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Ham Equity posted:If you are not living in one of a scant handful of places in the U.S., you will need to have a car, and those scant handful of places are wildly loving expensive. Having to drive yourself everywhere every day is loving awful for your health, both physical and mental, especially in the environment you're driving in in the U.S. Even if you have good health insurance, it is entirely possible for you to be heavily out-of-pocket on a health expense. If the health expense isn't due to something that happened to you at work and you get fired because you can't work any more, you are completely hosed. If it is due to something that happened at work, it will likely be loving years before you get paid out, and in the meantime you aren't going to be able to make rent, which goes double if you're living in one of the places where you don't need a car. If it's a car accident that causes you to not be able to work, and it's the other person's fault, it's very likely they aren't going to have enough insurance to cover you, and you're going to be falling back on your own insurance, only now that insurance is going to be fighting you saying it's not their problem because you should be getting it from the auto insurance. If you're from the U.S., navigating the healthcare bureaucracy to try to get treatment is a Lovecraftian loving nightmare; if you're not from the U.S., I can only imagine it's much, much worse. hey c’mon. that’s not a fair assessment. it doesn’t even begin to touch on the costs of raising children in america
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May 11, 2024 19:00
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Spoderman posted:hey c’mon. that’s not a fair assessment. Oh, yeah, if OP has young children, the difference in the costs of childcare is likely to immediately chew through any additional salary.
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May 11, 2024 19:06
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I have immediate family in europe and coworkers all over the world. Generally I'd say your quality of life in EU is better the lower your income is. It crosses over somewhere around the top 3rd-top quarter in household income (Say $125k in a median COL area, higher in most cities though a few cities are BIG outliers, most cities are reasonably close). Pretending that people don't spend time commuting in the EU or East Asia is not particularly useful. And the kind of health insurance the top 25% or so have is usual pretty comparable to what you get in EU. There's some additional risk but also way more of the resources are dedicated to those folks. Childcare is a big difference in the US, though you also probably will have a much larger place to live. Taxes are not that onerous compared to Western Europe and the lack of VAT of other taxes makes a BIG difference. Again. this becomes less burdensome the higher you make. Of course, it mostly matters what is important to you and what you want to experience to really determine COL. Do you like consumer electronics, global-level entertainment, "modern city" attractions and convivences, Higher paced living? You're going to love the US. There's also a ton of natural attractions that are very easy to get to, the concept of the "road trip" is an American institution for a reason. I typically find people from EU or east asia VASTLY underestimate the diversity in the US landscape and locations. If you prefer local watering holes and local culture, a walking lifestyle, getting to experience more cultures in a less corporate landscape, enjoy a slower pace, Your probably going to like Europe more. If it's purely dollars and cents I'd have to imagine you'd most likely come out ahead taking the US job and being somewhat frugal but thats hard to tell with just ratios and it does kinda look like they are underpaying you in the US (or WAY overpaying you by most EU/East Asia standards) but, again, hard to tell. If they gave you a US market rate even with a home rental I think you would come out ahead in all but maybe the top 3 or 4 COL cities.
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May 11, 2024 21:15
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I need some advice, A year ago, I was laid off from my tech job after nearly a decade. I saw it coming, could've shifted to a different role, but I really liked what I was doing and part of me really wanted to take a break. I got a decent severance package and unemployment benefits, which I spent going overseas exploring the dumb possibility of becoming an expat. I've realized it wasn’t for me and I'm back in the States. Despite my solid career, finding a new job has been unexpectedly challenging, especially on the West Coast, where I'm originally from which is annoying. I've been on the hunt since February looking around LA which has got me nothing and I've almost landed a decent offer, but it’s all the way on the East Coast, where I have no friends or family. The job is near NYC which is kind of cool but I'm older, don't really care about making new friends now that I'm older and it's still an hour away. It does pays well (TC >$120k/y), lines up well with my skillset and I work on hot tech stuff where I will learn a lot and could use anywhere else in the future. If you were me, would you keep looking for something closer to home, or just take opportunity? I still have money but the thing is all my hobbies involve having an income and I want to go back living my life instead of staying lean. Interviewing is exhausting only to be told they like me but went with someone else. I’m also concerned hitting over a year of being unemployed is going to a negative, or if the economy takes a downturn again. 
Gucci Loafers fucked around with this message at 23:06 on May 11, 2024 |
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May 11, 2024 22:53
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That's really tough. I would say it'd probably be easier to find that next job if you have a job, but you'll have some headwind with a NY State address to try to get back to LA. BUT, the job market also sucks so part of me says grab what you can and things might get easier in the coming year or two.
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May 11, 2024 23:09
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Thanks all, I’m grateful for the advice. I think there are two reasons given to prefer US based on what people have been saying: * Higher Total Comp -> better lifetime earnings * Assumption that the higher comp translates into a high discretionary spend month on month. First one is possible. Second one is wrong: US tax is around 20 percentage points higher than what I pay now or in Country2 scenario, and I would need to rent at my own expense also in a top 3 COL city in the US, while also maintaining a family home back in $country. I am a lot better off in *cash* terms with Country2, but the trade off is a substantially lower compensation on paper and a moderately lower total compensation in real terms due to missing out on the extra equity. E: @Gucci Loafers I would lock and learn. Take the job, see what you can get out of it and be ready to move fast because your BATNA is always going to be better if you’re in employment. Beefeater1980 fucked around with this message at 23:20 on May 11, 2024 |
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May 11, 2024 23:16
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Gucci Loafers posted:I've been on the hunt since February looking around LA which has got me nothing and I've almost landed a decent offer, but it’s all the way on the East Coast, where I have no friends or family. The job is near NYC which is kind of cool but I'm older, don't really care about making new friends now that I'm older and it's still an hour away. It does pays well (TC >$120k/y), lines up well with my skillset and I work on hot tech stuff where I will learn a lot and could use anywhere else in the future. $120k/year isn't that high in NYC and its environs. Do some research on what you'd actually be able to afford.
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May 12, 2024 01:23
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Gucci Loafers posted:I need some advice, NY in tech at senior+ should be double that. or higher.
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May 12, 2024 02:29
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I'm not in NYC and still outside the city. I think there's some truth that I should be making a bit more but rent is average for the area is around ~$2,400/mo. Maybe I can push it when I get the official offer but it's the only thing I got.
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May 12, 2024 03:10
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Beefeater1980 posted:Thanks all, I’m grateful for the advice. It sounds like you ran the numbers and also don't like or really care for America. Without some real numbers, locations, and data or feels like everyone is struggling to give you advice.
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May 12, 2024 16:15
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