Facebook Pays Interns $74k A Year?

DAMN THAT CAPITALIST SWINE FOR PAYING HIS LOWEST-LEVEL MINIONS SO WELL

The hypocrisy on the internet nowadays is revolting.
 
My cousin works for Facebook as a programmer. I'm guessing he gets paid really well since he is buying a house closer to Facebook since they moved thier offices and his commute was a little over an hour.
He is buying in the $1.5 million range.
 
Monkey God said:
DAMN THAT CAPITALIST SWINE FOR PAYING HIS LOWEST-LEVEL MINIONS SO WELL

The hypocrisy on the internet nowadays is revolting.
Click to expand...

+1

about 15 years ago, a relative of mine interned at apple for just shy of 100k, made just over 100k as a second level engineer, retired about a decade later a millionaire, not from his salary, but from his stock options.

if you want good talent you will pay for it, only issue here is whether or not they are weeding out the good and bad of it.

or should they do like the rest of american companies, and pay them minimum wage and take all the money for the executive compensations.
 
nealric said:
This is a recurring trend these days.

The most desirable candidates get ever-higher salaries, while the merely good face wage deflation.

If you think Facebook interns get paid highly, look at interns at top law firms. They get paid $3k a week ($160k annualized) and get wined and dined all summer.
Click to expand...

Yeah, but interns at top law firms are basically training to become professional leaches. It's to be expected. Ditto for Wall Street. At least the best of the best software engineers are creative people who give much to the lives of others.
 
Zepher said:
My cousin works for Facebook as a programmer. I'm guessing he gets paid really well since he is buying a house closer to Facebook since they moved thier offices and his commute was a little over an hour.
He is buying in the $1.5 million range.
Click to expand...

Your cousin is either much more than a "programmer," or got equity from joining early, or has a wife who makes a lot of money too. Either that or he's buying way too much house.

The 3x annual salary rule still applies.
 
I know for a lot of people not living in Palo Alto 74K sounds like a lot, but it really isn't, especially for top talent. I would estimate that 74K in Palo Alto is about the same as 40K in the rest of the nation. It is nice that Facebook is paying its interns a lot of places try to use/abuse the unpaid intern thing.
 
Aluisious said:
Your cousin is either much more than a "programmer," or got equity from joining early, or has a wife who makes a lot of money too. Either that or he's buying way too much house.

The 3x annual salary rule still applies.
Click to expand...

If that was a set "rule" then I don't think anyone would be able to buy a house just about anywhere.
 
as a seasonal fire firefighter for the state of california I guess you could call me an intern, and we get paid about half that
 
nealric said:
This is a recurring trend these days.

The most desirable candidates get ever-higher salaries, while the merely good face wage deflation.

If you think Facebook interns get paid highly, look at interns at top law firms. They get paid $3k a week ($160k annualized) and get wined and dined all summer.
Click to expand...

It's pretty much the same on an MBA summer internship for any consulting or finance company of note. Consulting will tend to work you harder than finance during the summer as it's a bit easier to contribute in a few weeks without the training requirements but generally all summer internships are a sales pitch to make you join the company.

12k a month, company picking up the check most nights and 2nd year tuition paid at the end. Result.

Onwards, to the meat grinder.
 
Aluisious said:
Your cousin is either much more than a "programmer," or got equity from joining early, or has a wife who makes a lot of money too. Either that or he's buying way too much house.

The 3x annual salary rule still applies.
Click to expand...
Not sure what his future wife does, they are getting married in August.
He's been there for almost 3 years. Left Microsoft to work for Facebook.
 
MavericK96 said:
If that was a set "rule" then I don't think anyone would be able to buy a house just about anywhere.
Click to expand...

You're right. The flexibility comes in when you're younger and have good earning potential. idea being that If I borrow 5 times my salary at 28, it's easy to cover by the time I'm 35 as your career progression covers it. You've always been able to borrow based on higher multiples like that if you were a lawyer, doctor etc but the banks got a bit over zealous with it and it became established practice for almost everyone.
 
ballistic90 said:
I make close to that as a contractor. Hell, even when I was a DNS Administrator at Comcast, working out of the tallest skyscraper in Philadelphia I still didn't make that much.

I guess I just got to wait until my wife gets working. As an attorney, I expect her income to end up a lot higher than mine eventually...
Click to expand...

Your wife is an attourney? Id scrutinize her when she comes home from work. They are known to "do" everyone in office and everything in town when their partner is not around......
 
Iratus said:
You're right. The flexibility comes in when you're younger and have good earning potential. idea being that If I borrow 5 times my salary at 28, it's easy to cover by the time I'm 35 as your career progression covers it. You've always been able to borrow based on higher multiples like that if you were a lawyer, doctor etc but the banks got a bit over zealous with it and it became established practice for almost everyone.
Click to expand...

Or, y'know, any number of common things happen and you go bankrupt real quick.
 
That seems normal for starting engineer level at a multi billion company. I don't know, my department post sign showing starting position for our department is 60k+, so I don't think 74k is that much off for top level highly recruited engineer.
 
TBH I'm surprised it's "only" 74k. I made that kind of money and I didn't even have formal education in engineering.
 
So after California taxes and bay area cost-of-living that is what, $35,000/year?
 
I make considerably more than that now, but it took me 5-6 years and I didn't start out doing that. For me it took specialization and focus in an area that pays well.

That is a lot for a starting pre-entry level job as an intern. I made 16.75/hr at my first IT job, but only if you don't count all the years working at a bullshit retail "tech counter" type job back in the day. Still, for all you people saying you hate Zuckerberg... just admit if you could make the money, you'd take it (assuming it was good move for you, etc).
 
My Fiances friend is interning at Ebay this summer at 20k/month. Not that surprising.
 
After they issued their shares to idiots at $38.00 at the IPO (currently at $26), they certainly have means to pay interns whatever they want. Its sad that their IPO had the highest % participation of retail investors of any IPO to date (mom & pop investors accounted for 25%). I wonder how much will they pay interns once their multiple comes down to a more reasonable level (at projected earnings of $0.40 per share they are trading at 65x forward earnings). If they were to trade at Google multiple their stock would be worth less than $6... Sure many people are betting that their earnings are going to increase exponentially, but based on their IPO filings I would not necessary make that bet as Facebook has not really found a way to monetize their business platform in a way that Google did...
 
cj3waker said:
as a seasonal fire firefighter for the state of california I guess you could call me an intern, and we get paid about half that
Click to expand...

Coffee and Donuts Forever, Dawg. You get your nomex dirty yet? We could always tell who was CDF, they had bright and shiny nomex and never got out of their trucks.

Ex-hotshot here, just razzin ya.
 
Doesn't surprise me. I had an offer for a software engineering internship at a quite-good-but-not-very-top-tier tech company in the middle of nowhere which would have worked out to $70k a year. A bit more for the bay area doesn't seem unreasonable.
 
MavericK96 said:
You DO pay engineering interns (generally).
Click to expand...

I fucking wish it was that much out here. I got paid about a third that for an aerospace engineering intern position when I was going through and living expenses and wages in Australia are generally higher than the US. The most any of my friends (that I know) made in a year in and intern position was about 60k.
 
Parja said:
If you go into a field that doesn't pay interns, that should be your first indication that it's a shit field.
Click to expand...

LOL, zing.

Hell I was a physics major in school and I still got paid well for a software internship.
 
Tudz said:
I fucking wish it was that much out here. I got paid about a third that for an aerospace engineering intern position when I was going through and living expenses and wages in Australia are generally higher than the US. The most any of my friends (that I know) made in a year in and intern position was about 60k.
Click to expand...

Aerospace was a hot industry, 50 years ago and in the US.
 
in 2008, my pay at a large oil and gas E&P company as a summer intern was $6000/mo + $3000 for housing for a summer. This was in Houston, my rent at the time (1 br apt, good area) was $650/mo :cool:.

It was typical pay, but higher then average for the industry in general.

Full time offer was about $6700/mo + $9000 sign on bonus + great benefits. I ended up taking a different job, however.
 
You must log in or register to reply here.
Back
Top