Talented engineers scoring big paydays in Silicon Valley
If you fancy yourself a savvy eningeer or developer, Silicon Valley is the place to float your resume. Demand is high for code junkies who know their stuff, and if you play your cards right, you could line your portfolio with millions of dollars worth of stock. Christopher Fry, senior vice president of engineering for Twitter, is a walking example of just how valuable top engineering talent has become.
Citing Twitter's IPO documents, Reuters reports Fry received $10.3 million in cash and stock last year working for Twitter. That includes $10.1 million in stock awards, a salary of $145,513, and a $100,000 bonus check. All tallied, Fry is among Twitter's highest paid executives, having earned more than Chief Technology Officer Adam Messinger, Chief Financial Officer Mike Gupta, and Chief Operating Officer Ali Rowghani. In fact, the only one who earned more is Twitter Chief Executive Disk Costolo, who raked in $11.5 million.
How can people like Fry command so much money? According to Iain Grant, a recruiter at Riviera Partners, the number of top-level talent isn't getting any bigger, yet "demand for them has gone through the roof."
While Fry's compensation came mostly in the form of stock, company's are going to great lengths to attract A-team employees. There's a start-up that offered an engineer a yearlong lease on a Telsa sedan valued at $1,000 per month.