Silicon Valley is known for its lofty compensation packages. However, base salaries are often only a tip of an iceberg: apart from base salaries, compensation packages may also include cash bonuses, stock options, and other benefits. Have you ever wondered how silicon valley professionals use their bonuses?
Q4 2020 hedge fund letters, conferences and more
A Google professional asked the Blind platform “What are you doing with your bonus?”
How Silicon Valley Professionals Plan To Use Their Bonuses
Key Learnings from ~1,400 professionals:
- 67% of professionals are investing their bonuses
- 75% of Google professionals are investing their bonuses
- 74% of Uber professionals are investing their bonuses
- 77% of Twitter professionals are investing their bonuses
- 21% of professionals are saving their bonuses
- 27% of Microsoft professionals are saving their bonuses
- 35% of Goldman Sachs professionals are saving their bonuses
- 36% of Intuit professionals are saving their bonuses
- 8% of professionals are making a big purchase with their bonuses
- 13% of Apple professionals are making a big purchase with their bonuses
- 29% of VMWare professionals are making a big purchase with their bonuses
- 17% of Capital One professionals are making a big purchase with their bonuses
- 4% of professionals are donating their bonuses
- 11% of Cisco professionals are donating their bonuses
- 9% of SAP professionals are donating their bonuses
A Facebook professional shared “Buying a custom built bike. My bonus is for big purchases. The rest of my income goes to my future.”
A user at SpaceX responded “What bonus lol”
Another user shared they will be using their bonus to buy an engagement ring!
A different Google user said “Pay off my credit cards”
IT workers can get anywhere from 40% to 200% on top of their base salaries, according to Levels.fyi. The higher the employee’s level is, the higher the bonuses. It looks like there are a variety of ways professionals plan on spending their bonuses this year.
