Million dollar engineers?

techie2018

So there has been a lot of talk recently about the "true elite" guys in the IT field have million dollar salaries. These are the guys that don't apply for jobs, because these are guys that are so well known guys that companies seek them out.

So you see these stories all over the place. Apparently to break the million dollar mark you need to invent, create, or develop software and/or tools that are widely used in the industry. For instance Jeff Dean, one of the engineers who created MapReduce, is a guy that always bought up and most people suspect he makes over $3 million at Google.

Now granted you would probably have to be in Silicon Valley to see such a salary. Because just about everywhere else even the principal engineers and architects top out at about 250k, even at fortune 500 companies. Then again to get $3 million you would to be much more than a principal engineer or architect. You would need to be a technology inventor at top 4 tech company most likely.

But I have heard about the so called 10x coders making a million dollars plus. 10x meaning they are so skilled and productive that they can do the work of 10 average coders.

So my question is has anyone worked with or know of these truly elite guys who are over a million a year?

paul78

That number usually includes variable compensation component. I think we had a thread about that in the past. Technical skill and productivity is usually not the factor. Software engineers who do quant work can usually command pretty high salaries.

The percentage of engineers that make are compensated over $1MM is probably minuscule and a rarity. The more realistic and attainable high-end would be in the 350K to 500k unless the individual develops a commercially viable product which they monetize. Kinda like that PHP developer - Mark Zuckerberg

MontagueVandervort

Is this your goal? Is that why you're bringing it up?

If so, best of luck to you!

I would imagine a great level of responsibility comes with earning $1M/yr. I'm not too close to that amount yet and already am beginning to feel a great deal of responsibility.

But I would do what I do for free and, in fact, I have.

DatabaseHead

Closest to that would be a senior director I worked with, who was in supply chain.  He was co lead developer and handled all the project planning etc...   His base was like Paul mentioned 350 and bonus around 40% of that annual.  

That job was ridiculously demanding and he only lasted 4 years.....   

beads

Have to come with some really excellent stock options then divided over a number of years. With that, check out what some engineers over at say Apple might be making with ESOP (Employee Stock Option Plans) are or have been making over the years. Suspect that is where you are hearing of seven figure contributor (non-business owner) salaries. That of course is more educated guess than anything.

Write when you start the seven figure position!

Warm regards,

- b/eads

paul78

beads said:

Have to come with some really excellent stock options then divided over a number of years. With that, check out what some engineers over at say Apple might be making with ESOP (Employee Stock Option Plans) are or have been making over the years. .....

Just wanted to clarify for others... An ESOP is an employee stock ownership plan. It's not stock options which is different. ESOPs are generally available to all employees with some contingencies such as tenure (typically one year). The way that ESOPs work is that an employee can purchase stock of the company usually at a discount. In the US, an ESOP is a defined contribution plan so it considered a form of a retirement plan under IRS rules.

@OP - why do you ask? Most highly compensated individuals in companies (engineers or otherwise) - I would expect that the bulk of the compensation come in the form of cash bonus, stock bonus, and option grants. The vast majority of people in these high-wage technology categories usually have their compensation tied to specific goals and metrics. There are definitely a few people on TE in the low to mid six figure category but I do think that 7 figure plus typically is normalized compensation from previous compensation grants in stock and options. It's very misleading to think that someone can just get hired at that compensation scale.