Submitted 1 year ago by L4s@lemmy.world [bot] to technology@lemmy.world
Salesforce looks to poach outbound OpenAI staff with “full cash” compensation offer::Salesforce CEO Marc Benioff has revealed the firm will offer positions to outgoing OpenAI employees amidst a looming exodus from the beleaguered tech giant.
What is “full cash” compensation?
No shares in n years. Cold hard cash. Unusual at mid to high tier level in tech
No stock/bonus/etc. Basically no contingent salary, just flat out “you made 700k total with bonus/stock? You base salary is 700k.”
Most tech compensation is stock - nobody in the industry ever asks about salary, they ask about total comp. A full-cash offer means their salary is massive instead of split between salary and stock.
A full-cash value is almost always a way better deal. There are obviously exceptions where the stock skyrocketed, but that is not particularly common.
I bet they mean that they are offering cash bonuses to sign instead of restricted stock
Cheesus@lemmy.world 1 year ago
Must be great to read if you were one of the employees laid off from these companies.
Corkyskog@sh.itjust.works 1 year ago
It’s one company and AFAIK only one person was fired… and he already accepted an offer at MS. The rest are just bailing with him.
Lmaydev@programming.dev 1 year ago
I think this is likely what they are referring to. They gutted their staff earlier in the year.