Why Is Turnover At FAANG So High?
发布时间 2022-09-14 19:00:21 来源
摘要
I’m sure you’ve all heard about how FAANG companies rank as some of the best places to work in the world, but did you know that FAANG companies also have some of the worst turnover in the world. At first glance, this might seem a bit confusing, but when you take a closer look at the situation of FAANG employees, this makes a lot more sense. First of all, by the time most FAANG software engineers make it to their mid-30s, they’re already extremely well off. Thanks to all of the stock compensation they earn and the enormous growth of FAANG stock, these guys are usually worth over $5 million if not $10 million by the time they’re in their mid-30s. So, they’re not exactly motivated to stay at a FAANG company just for the money. Even if they were motivated by money though, studies have shown over and over again that switching companies frequently usually results in higher pay over the long term. Not to mention, given the connections and knowledge these guys have, they can often start their own companies that go on to be worth hundreds of millions if not billions. So, it makes little sense for them to continue working at FAANG. Finally, while FAANG’s company policies themselves are relatively relaxed, many employees find it stressful anyway due to the competitive personalities of everyone working there. And more times than not, this leads to burnout and the need to switch companies and get a fresh start. This video explains why FAANG companies are unable to retain their employees despite their generous policies and insanely high pay.
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Timestamps:
0:00 - Turnover At FAANG
2:08 - Financial Freedom
5:28 - Money Driven
8:22 - Burnout
11:23 - The Truth About FAANG
Resources:
https://pastebin.com/wDyenDVL
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