u/buttholewax wrote (the comment Michael replied to):
Roughly $1k a week
u/michaelnovatireplied·· edited★ FEATURED
I heard that from one other person now but I thought it was a mistake, that seems low no? People have said it's a very intense full time job and only for the top students. But top alumni are making over $120K salaries, so saying: "you're one of the top students and should be making at least $120K but instead you should do this for $52K a year". I'm probably missing something or factually incorrect about something, so listening for some people that have done it to explain.
EDIT: One theory I had was that I could see it being a great thing to do while job hunting and better than doing nothing, but someone said that they are so busy they don't job hunt (could just be that person 🤷♂️), and it's clear they are expected to do a three month contract and not leave early (which I've heard a few times in various ways but that like any at will, W-2 employment, you can leave early, and fellows have been fired early as well).
EDIT 2: From a business point of view, if people could be getting paid $120K, Codesmith is basically saving $68K a year by employing people as fellows (or from the other side, a Fellow is "paying" an extra $17K) versus hiring someone full time. And if the people do it voluntarily, have a great experience, and are really satisfied, this is a genius win win for scaling the company.
u/ketamineandboba1 wrote (the comment Michael replied to):
Yeah it’s around 1k but from the people I know who wanted to do it they genuinely like helping others and I’m sure others do it to put on resume experience, but I know it’s a max 3 month thing, you can only be a fellow for the next cohort, unless they offer you a full time positi
u/michaelnovatireplied·
\+1 yeah teaching others is a great way to help others, reinforce skills, definitely agree. Yeah the people that convert full time I think get paid more like $120K (no equity, since Codesmith is an LLC and not a corporation)
u/Ill-Intern-9131 wrote (the comment Michael replied to):
I don't know about code Smith, but hack reactor matches the numbers you put down, though in my experience it was about 2 hours a day of work, the rest was encouraged to be used job hunting
u/michaelnovatireplied·
Yeah I heard Codesmith fellows "don't sleep".
u/starraven wrote (the comment Michael replied to):
Welcome to the world of teaching
u/michaelnovatireplied·
Very fair, teachers are offensively underpaid in a traditional education model :(
Coming from Canada where there is much less inequality, the inequality in tech is almost unreal.
u/michaelnovatireplied·· edited
The C in LLC stands for Company... why is that funny? haha. So anyways LLCs don't have stock or equity either in California. They have owners who can have different percentages, but it's so complicated to run an LLC with a ton of owners that's why C Corps exist.
u/xtc2008 wrote (the comment Michael replied to):
$1K per week and def not reserved for the top students either. It definitely is intense though. Most people that join the fellowship program do it because they want to build that technical foundation within their resume. Think of someone that was previously a bartender or musi
u/michaelnovatireplied·· edited★ FEATURED
Do people without experience not find the Codesmith residency enough on its own to build that base though or is this to try to move from the "under $110K" bucket to higher? Like the harsh way of looking at it is the Fellows are paying an extra 17K from what they thought they would to get the 120K job. The positive way is that people are investing addition resources that pay back in better jobs.
Thanks for clarifying top students. So the top students who have work experience don't become fellows. Then the next tier of top students might get jobs faster. THEN the ones who don't might be fellows?
The 20% over $140K base salaries generally have more experience, which is very opposite from the bottom 20% under $110K with no experience.
u/xtc2008 wrote (the comment Michael replied to):
Fellows range across the spectrum. There are plenty of top students that are fellows - primarily because they don’t come from a tech adjacent background. They’re aiming for mid FANNG and without the previous technical and mentorship work experience - your chances to gain a recr
u/michaelnovatireplied·★ FEATURED
Awesome thanks for adding details.
I have posted extensively elsewhere but you can't get mid level FAANG SWE jobs (e.g. Google L4) with no experience. I worked at Facebook for 8 years, did a ton of early career recruiting, observed hiring committee reviews. The levels are calibrated company wide and sacred, based on people's previous scope of responsibility and not on your skill level. If your skill level is super high, you come in entry level and then get incredible performance reviews (making more comp the you would at mid level anyways). So someone with no experience trying to be a "official" mid level FAANG is doing the wrong strategy. Happy to explaon this more. People have said "but I know someone I swear"and every case is a miscommunication or misunderstanding of the level (Google's entry level is L3 for example), or based on salary (since entry level FAANG can hit $200K), or a contracting role with a senior title that is also entry level, or people calling a company FAANG that is not FAANG and where you totally can come in at their mid level.
u/Pallotaw wrote (the comment Michael replied to):
Rekt
u/michaelnovatireplied·
Company stuff is extremely complicated and varies state by state, so it's very complex and understandable.... be nice!
It's actually an interesting topic: https://www.nolo.com/legal-encyclopedia/what-is-a-limited-liability-company.html