Reply to Facebook announces that remote WFH employees will have salaries decreased to match local COL

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[quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous]FB attracts top notch software developers and trains them very well.  If they want to piss all that talent off by cutting their salaries in half (even for those who are just as or more productive while wfh), then I will happily hire them for my company.[/quote]

Please do. Hope you can afford a $350K software engineer + a 20% pay raise because obviously your company stock (if its even public) can't touch Facebook's in Sioux Fall, Idaho or wherever you are.[/quote]

You both sound ridiculous. FB isn't going to cut salaries by half. However, they will cut them. It will still be above the local market.

If the business-owning PP is in a smaller town, he may have the possibility of hiring the FB engineer if FB eventually goes through layoffs, though. There won't be as many competitors vying for remote talent. [/quote]

Bingo.  $350k in SF will turn into $230k for a "live anywhere" fully remote position.  Less pay than SF/LA/NYC but substantially above local market.  Companies who formerly dominated small markets will see upward comp pressure in order to keep their best people.  We're on the cusp of a huge change in the way global talent is distributed and compensated.  Exciting times.[/quote]

Did...did you even listen to what Zuckerberg said?

He was very clear. Salaries match local cost of living.

So $350K in SF turns into $80K in Charlotte. Sorry I don't make the rules.

[twitter]https://twitter.com/ReutersBiz/status/1263928871197347840[/twitter][/quote]

Based on the latest IRS numbers, COL in SF is 29% more than in Charlotte, NC.  So $350->$230 is pretty accurate.  Good developers for BOA (who would never even score an interview @ FB) already make >$100k in Charlotte.[/quote]

I guarantee they hired a national salary study consultant to price out costs. Having worked with such consultants twice in the last few years, I can report they do not simply adjust for local COL. They’ll look for comparable jobs in the target area and develop a scale—and then they land on a target that appeals to whomever hired them.

If Charlotte pays $100, then FB in Charlotte will pay that or slightly less. [/quote]
You keep mentioning and forgetting to add that the company then choses where in the salary range they want to pay. Some set their target at the 30th percentile, some do the 90th.  FB already pays well above market, they are not going to adjust to the median salary in the locality.

You should know there are multiple ways to develop a comp strategy. [/quote]

And you should know that FB is doing this to cut costs. While they may have paid top dollar in the past, I don’t think that’s the case for this effort. Note: they are offering this current employees. They’ve likely done a risk assessment to determine how low they can go without losing too many staff. They have numbers for how many staff are likely to opt in, how many will likely stay put, and how many might leave.

While they had to pay top dollar to get employees to relocate to a high COL location, that won’t be the case. Plus, they need to cut costs. They aren’t doing this to benefit employees—don’t be daft.[/quote]
I love how you think other people don’t understand what FB is up to so you think you need to impart you (mis)informed wisdom. FB has always and will always pay top dollar for the local market which will still be less than SV. They will reap those savings - that goes without saying but you seem to need it called out. FB doesn’t hire Microsoft or lesser company talent. They won’t be paying 80k for a software engineer like you keep crowing.[/quote]

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