The Facebook marketplace has numerous employees, but the ones that are the backbones of the overall structure are the engineers. A Facebook software engineer gets an average pay of $150,000, including an additional $16,009. Facebook is an organization that awards risks and embraces failure. Its mission is to connect the world through the platforms they offer – like Instagram, Facebook, and WhatsApp – something we’ve all used once in our lives. To help fix the scale of problems that have been exposed, Facebook is hiring more engineers at a staggering rate. These are the people who will be responsible for taking Facebook into the future. With the company set to double in the next few years, these engineers are relying on fixing things and growing the business.
In this article, we are going to discuss the Facebook software engineering salary. We will briefly run you through the aspects of working for Facebook, from salary to total compensation benefits.
Facebook Software Engineering Salary Levels
Like any other tech company, Facebook also works according to some standard software engineering levels to help in the hiring and promotional processes.
The six standard levels that Facebook follows are:
- Level 1 – Software Engineer I (E3)
- Level 2 – Software Engineer II (E4)
- Level 3 – Software Engineer III (E5)
- Level 4 – Software Engineer IV (E6)
- Level 5 – Software Engineer V (E7)
- Level 6 – Software Engineer VI (E8)
All the engineers who join Facebook are assigned different levels associated with seniority. The higher the position, the more responsibilities you take on. These levels are put up to ensure that every employee gets comparable pay as per their contribution. Unlike other tech companies, Facebook prefers to call all its employees a ‘Facebook software engineer’ instead of giving them a title. These levels help the employer decide how much the employee would be paid. The salary levels for a Facebook software engineer starts at E3, and all the engineers work at the lower levels. The higher the position, the more specialized skill sets are required, hence the jobs are rarer. For an employee to reach a higher level, extensive knowledge and experience are required with excellent soft skills. The higher you are at the hierarchy, the higher your pay will be.
Facebook Software Engineer Compensation Packages
Before diving directly into the figures, getting a hold of how a Facebook software engineer is paid is better. As obvious, the salary and compensation of an employee depend on their experience and the hierarchical level. The compensation packages work a little differently in the tech industry than in others. There are four major components to the Facebook compensation packages:
- Base Salary: There are few components to them; the first one is called “base salary,” which is when the company has to pay you in cash. At companies like Facebook or Google, it is paid on a bi-weekly basis, meaning every two weeks, so there are 26 base salary pay periods in a year. The base salary is the gross amount, exclusive of the taxes.
- Additional Bonus: The second component to the compensation packages is the “additional bonus”. The additional bonus is typically given as a percentage of your base salary. There is a baseline percentage that you are expected to get if you perform decently, and if you do not perform well, you may not get that bonus. And if you perform very well, the bonus you get will be higher. At Facebook, the annual bonus is 10% of the baseline bonus. A little exciting note, at Facebook, the additional bonus is not given annually. Like other companies, it is given twice a year.
- Stock Award: The third component to the compensation packages is the “stock award,” which is the number of shares in the company that you will get over four years, following a specific schedule. At Facebook, there is a vesting schedule for the stock awards that you receive every quarter. This is given in the form of shares in the company. For tech companies such as Facebook or Google, these shares are very similar to cash because the stocks tend to perform very well. That being said, the stocks don’t always perform the same all the time. If the stock goes up, great for you, or if it goes down, you will lose some money. Or maybe you will not make as much you expected.
- Sign-on Bonus: The last component is the “sign-on bonus,” companies like Google or Facebook like to give competitive candidates a sign-on bonus, which is a one-time monetary sum for them to come. The compensation package is a solid deal to invite applicants to the company.
How Much Does A Facebook Software Engineer Make?
As mentioned earlier, Facebook has different levels for software engineers with varied compensation packages and salaries. These levels depend on the employee’s experience and consistency of the work. Facebook software engineering salary varies with the levels they are placed at, increasing as they get promoted. For an employee at the E4 level, the salary will be lesser than the E5 level.
Here is a glance for you to get a rough understanding of the average yearly salaries for employees at different levels at Facebook:
These compensation packages are solely for a Facebook software engineer. The packages for different departments vary. The Base Salary in the table is the standard amount paid to the employee, while the bonus might vary. A person who contributes more to the business might get a greater bonus than the others. The compensation packages shown in the table depict that the salary given to the employees is decent. However, the packages might vary depending on the location or branch of the company as well. For instance, if you work in the New York City office as a software engineer, the compensation packages will be comparatively higher. The NYC branch commands the highest packages in the industry because the market rates are significantly high. Another reason could be the extensively high cost of living. This is an essential aspect for consideration of compensation packages compared to those in the other states or parts of the world.
Facebook Software Engineer Benefits
The average salary in silicon valley in the year 2014 was over $195,000 per year; even the interns took a sum of $6000 per month. The top tech company’s fight is brutal, so the companies pry their employees with endless perks on top of their impressive salaries.
Here are a few examples of Facebook software engineer benefits and perks offered:
- Health And Wellness: Facebook believes in its employees’ empowerment, irrespective of the job they do. The leading tech company facilitates its employees with numerous health and wellness benefits. Imagine getting into better shape at work than at your local gym. From huge rock climbing walks to stress-relieving facilities or on-campus bike rides, music rooms – Facebook covers it all. These are the resources free to the employees and the interns to keep them physically and mentally healthy. Facebook extends a platform for people to express themselves at their best. Employees are fully covered with health insurance, along with highly subsidized family insurances.
- Generous Time Away And Family Benefits: Facebook understands the importance of carving out time for family, friends, and oneself. Amidst all of the hustle and brainstorming needed for keeping with the requirements of being a Facebook software engineer, anyone could enjoy some time off! It hosts 21 days of paid vacation for its full-time employees and a month-long recharge every five years. This is not shocking, given that Facebook cares about its employees more than anything. If you’re planning a time off for yourself, sick leave, a holiday, or parental leave, Facebook understands it all. It also provides new mothers and fathers a paid leave for up to four to six months, within the first year of child’s birth or adoption. Facebook also gives “baby cash” for new parents – with financial assistance.
- Benefits That Put More Money Into Your Pocket: The perks and benefits a company provides alongside the compensation package help the applicants decide which company to choose and work for. After all, the overall security in the future is what we all are looking for, aren’t we? And when the benefits do nothing other than adding some extra cash into your pocket, how can you say no to that? The overall payment of a Facebook software engineer itself is sufficient, but there’s always room for some extra credit. In addition to the health and wellness benefits, Facebook also has a transportation reimbursement program. The company provides its employees with extra financial benefits ranging up to seven percent matching employer pension contributions.
- The Fun Extras: On-site barbershop, free food and snacks all the time, health and dental checkup on campus are not the only things that Facebook offers for recreation to its employees. At Facebook, all employees have two birthdays, one of their own, and the other one is called “faceversary,” which they celebrate each year they are at the company. They have a family to celebrate, pride events, and celebrities to inspire the workforce. They even have a small village with bikes and shops and even an arcade – everything is free to focus on connecting the world. Every few months, each office gets together for its lock-in, where the staff is encouraged to innovate and try new ideas. It’s what they call a “hackathon.” That’s how they came up with the like button! The workplace is not all work. It is the blend of work, the people around, and the environment. Facebook offers several internal communities and groups to help employees bond through common grounds.
Working as a Software Engineer in Facebook vs Other Tech Companies
From the outside world, working as a software engineer at a technology company seems the same. Indeed it is, but there are minor differences that bring about significant changes. Different companies provide different benefits and perks for the same position. Considering only the monetary income while accepting a job offer is not wise.
Several companies provide higher salaries but lesser additional benefits such as insurance, holidays, etc. Most of the companies provide a similar pay to their software engineers. It is neither smart nor easy to evaluate compensation packages in isolation. It is always recommended to compare what other companies are paying and providing you to determine which one to choose.
Being a current or aspiring Facebook software engineer, you must compare several different Facebook competitors and see what they have to offer you. Among the greatest Facebook competitors as a tech giant, you have Google, Amazon, Netflix, and Apple. For comparison purposes, all these companies are very similar in terms of the offered compensation package. To b precise, Facebook has a better package to offer to its software engineers.
If you are considering a real comparison, you need to compare their packages and other amenities they offer. We have listed down few comparison parameters for you to take into consideration:
- Perks And Benefits: Almost all companies offer similar perks and benefits to their software engineers. However, Facebook software engineers might get some specific benefits better, while the others get some else.
- Food: Some people have preferences other than others, so food is just a superficial comparison.
- Office Environment: Every office intends to provide its employees with the greatest experiences. A healthy work environment helps people work better and in a synchronized way.
- Interviews: Interview preparations are always a crucial part of the selection process, and most companies use similar coding tests and skillsets.
- Internal Tools: When it comes to internal tools, surveys suggest that those offered to Facebook software engineers are better than any other company you could look up to.
- Projects: The software engineering projects that the companies offer vary with the niche you are working on. Companies offer certain schemes under which you have the freedom to choose a project of your own and can even walk-oof of it if you feel so.
- Transparency and Culture: Tech companies usually keep all their work transparent. At Facebook, every week, an internal QnA session is organized with Mark Zuckerberg.
- Team Matching and Ramp-up: The freshers who join Facebook are called “Noobs,” and most do not pick a certain area of work during the application process. Instead, for the Noobs, Facebook conducts a boot-camp to help the employees pick their niche of work to solve a problem they feel the most connected to.
- Work Velocity: Facebook, software engineering culture is for those who prefer to work at a great pace. The workflow of picking and solving problems is almost realistic.
Today, Facebook software engineers are being initiated to the unique culture. In the year 2019, Facebook has hired more than 10,000 engineers all over the world. The employees themselves say that the tech giant Facebook is driven by the engineers driving the change. Facebook aims to create the perfect work-life balance in its employees’ lives through proper breaks and recreational activities. It not only aims to solve the problems of their users but also bring people together and closer. The company’s driving force – its engineers – earn a good sum of money to contribute to the team. Facebook software engineers earn an impressive sum of $185,000 at the entry-level only. Along with the pay, the employees also get a good hand-full of facilities, from gym membership to recreational activities and even the free snacks and meals, and so much more! If you’re a software engineer looking to enter a tech giant, then you should consider Facebook software engineer jobs for sure.