For anyone making this kind of money at an early age, don't spend it... invest it.
If you're actually making $1.2 million a year, invest at least $500k/yr.
Then if you need to take a pay cut later, hopefully the dividends from your investment accounts brings your total income close to where it once was.
Also if you're reading this wondering if people actually make this amount of money coding... the answer is no, with the exception of an incredibly small percentage of people. Expecting $800k comp is not realistic for 98% of people.
This is good advice. But it's worth pointing out that by default many of these people are heavily invested in GOOG. And those that aren't are probably heavily invested in market instruments propped up by the GOOG price.
So, mumble mumble, something about diversifying.
I'm sure the layoffs are likely to lead to a short-term bump because the markets will interpret it as Google adulting. But if they're signalling that they're afraid of AI eating their market share, then you probably want to be proactive about that.
Well, yeah I agree. But I think most people do by default. That's really the idea of vesting... to align employee interests with the interests of the company.
If you're actually making $1.2 million a year, invest at least $500k/yr.
Then if you need to take a pay cut later, hopefully the dividends from your investment accounts brings your total income close to where it once was.
Also if you're reading this wondering if people actually make this amount of money coding... the answer is no, with the exception of an incredibly small percentage of people. Expecting $800k comp is not realistic for 98% of people.