I understand that Broadcom cuts benefits, but what about pay?
6 replies (most recent on top)
First, base salary is unchanged as all are using the same pay scale the same area. However, if your salary is higher than average on your level, you might get promote in the future or not get raise.
Second, bonus… it is based on your level. Level 5 engineers get 30%-60% depending on company and BU results and your rating . So far they never go below 100% target… most of the time they reach higher.
Third, stock is the same as other top company. I would assume it is the same as VMW. But BRM stock grows fast, so by the time you vest (1-4 years later) the share is 1.5-2 times.
That is why they said Broadcom total compensation is high. It is same with google and Facebook. When they give the stock, they calculate the value based on last 6 months …
Very simple. Broadcom wants more revenue and profit per employee. In return, you will get a part of that extra. Now, because the world does not have free lunches, obviously you will have to work harder or smarter for that ~1.5M revenue or so per employee.
Hock graduated from MIT. So, nothing about him or what he is aiming for is average. Now, to an average person, it could become harsh. I never plan or able to go to MIT. You stick me into MIT and of course, I am going to be miserable.
On R n D and innovation, it is really a choice for BU. BU has a financial matrix to uphold. Also, if you don't innovate, you will die eventually. Can you do just one thing, or both? We have BUs which can do both and BUs which can do one thing only. If you can't uphold the financial matrix but you have a good innovation story, Hock may sell you. If you can uphold the financial matrix but no path for more innovation, then you are a cash cow until you are not. If you can do both, you are a franchise and suppose to last forever. Now, the status of BU changes all the time. Nothing is fixed.
So, what's in for an average employee. You will be able to retire sooner or have more money. Does it worth it for you? It is your call of course.
Under Broadcom my compensation has doubled from my CA Technologies pay
It's all about the stocks and bonuses. Since joining Broadcom the stock has gone from $250-ish to whatever it has been lately $500-$600? The bonuses are generous too.
This is not a meme stock. Broadcom runs an efficient, lean, pragmatic, high profit margin business and they share their success with their employees and shareholders.
Every company should run like Broadcom. They're a well oiled machine.
Clear your minds of the bu-----t and see Broadcom for what it is.
It is a business.
Insurance is OK. Pay is better, RSU is where it’s at. I make double my salary with RSUs.
They won’t cut base salaries. Usually the people that stay are paid equally or better. You will get more stock most likely too. Now, if you want to stay will be a totally different problem. Broadcom is not for everyone and they will tell you they upfront.
I've looked at a few sites and it seems that VMware pays better than Broadcom. I'm now worried that they might decide to cut pay as well.