Palantir - "need based salary"

[Anonymous]

Hi All,
On a recent job interview with Palantir, I was informed that they offer salary that is "need based". I haven't encountered this and don't really know what it means outside of a government assistance narrative. Does anyone have experience with this company or this type of compensation structure?
Thanks,

[Anonymous]

That's so fing stupid. WTF is need based, who decides the need.

[Anonymous]

That sounds awful. So, if your boneheaded colleague is a barely mediocre performer with 12 kids, s/he is going to earn more than you because you only have two kids? Do you only get a raise if you have more kids or need a new car?

[Anonymous]

Sounds like communism.

[Anonymous]

Maybe it means how much they need you ; )

[Anonymous]

Did you ask the interviewer what that means? If you feel a "need" to f*ck their spouse would he/she provide that too?

Walk away.

[Anonymous]

What they mean is that they have lots of flexibility in their salary range - they will offer what they need to hire the talent they want. In other words, they are making it clear they are negotiating with their job applicants on salary. Despite its CIA roots, it's not a government agency that has specific, narrow salary bands.

FYI - Palantir is a pretty hot company. Their last financing round valued the firm at $15 billion.

[Anonymous]

Maybe it was a sneaky behavioral interview question.

[Anonymous]

"Great! I am so excited that you offer a need based salary structure. There's a lot of stuff I need and most of it is kinda pricey so to whom do I submit my salary needs and when do I start?"

[Anonymous]

Need based means how much they need/want the applicant. If you have sought after skills and they want you, they will offer more to incentivize you to leave your current employer and work for them.

[Anonymous]

If you have passed the test and can get a job there, it's pretty lucrative. Their options can be very attractive. This keeps your income taxes down. You can exercise and pay taxes when you want/need. If you can get some options, it will be pretty attractive when they IPO. If you live three birds eye mile from work, they will pay a lot of your housing. This include rental or towards mortgage. There's always food at the office. Lots of fun rah rah activities. You can easily transfer to a lot of their offices all over the world. Crazy and interesting silicon valley perks. Overall a fun place to work for the right fit. You do work a lot of hours. I have family there that likes it. Lots of smart folks.

[Anonymous]

they mean salary as in cash not total comp. The idea is you'll be offered a few choices of cash salary and stock options. The salary part is to cover your needs now and the options are your investment in the future of the company. Everyone is in a different place though: kids, student loans, large mortgage, appetite for risk, whatever, those are the "needs" you're presumably factoring in. hence the several choices to fit your salary "needs" v. willingness to take options.

The housing subsidy in DC isn't large unless you got in early when the office was still in Tysons rather than Georgetown: it stayed large for those earlier employees because they presumably factored it into salary choice.

[Anonymous]

Anonymous wrote:If you have passed the test and can get a job there, it's pretty lucrative. Their options can be very attractive. This keeps your income taxes down. You can exercise and pay taxes when you want/need. If you can get some options, it will be pretty attractive when they IPO. If you live three birds eye mile from work, they will pay a lot of your housing. This include rental or towards mortgage. There's always food at the office. Lots of fun rah rah activities. You can easily transfer to a lot of their offices all over the world. Crazy and interesting silicon valley perks. Overall a fun place to work for the right fit. You do work a lot of hours. I have family there that likes it. Lots of smart folks.

I agree with this, if you're between 22 and 30. If you are older or have a family, good luck. It's definitely cult-like. The in-office "perks" are to keep you there all hours, which is fine with many young employees.

[Anonymous]

Anonymous wrote:

Anonymous wrote:If you have passed the test and can get a job there, it's pretty lucrative. Their options can be very attractive. This keeps your income taxes down. You can exercise and pay taxes when you want/need. If you can get some options, it will be pretty attractive when they IPO. If you live three birds eye mile from work, they will pay a lot of your housing. This include rental or towards mortgage. There's always food at the office. Lots of fun rah rah activities. You can easily transfer to a lot of their offices all over the world. Crazy and interesting silicon valley perks. Overall a fun place to work for the right fit. You do work a lot of hours. I have family there that likes it. Lots of smart folks.

I agree with this, if you're between 22 and 30. If you are older or have a family, good luck. It's definitely cult-like. The in-office "perks" are to keep you there all hours, which is fine with many young employees.

Oh, and they have a salary cap. So yes, options are good, but salaries are not comparable to other jobs in the same industry.

[Anonymous]

The salary cap is meaningless. It is quite high now, but always moves and and anyway options are probably where you will get your payoff. Total compensation is actually really high (way more than other DC software companies) if you think the options will pay off.