The Data-Driven Analysis of FAANG Companies Salaries for Software Engineers
Everyone is talking about FAANG companies. But how about the engineers behind these tech giants? What do these software engineers at FAANG companies make, and what kind of jobs are they pursuing in general? The best way to answer these questions is to look at the data. In this article, we review the recent research on FAANG companies and their software engineers as well as their job openings and salaries. We know that technological disruption has forever changed the world of work, so it’s no surprise that there are new acronyms every day among HR professionals. We keep adding letters to words like STEM and COLLABORATION because something is changing rapidly in those fields. In this blog post, we will introduce you to the FAANG companies, share insights from our exclusive market analysis on FAANG company hiring trends for software engineers, and reveal data-driven answers about FAANG company salaries for software engineers.
What Are FAANG Companies?
FAANG stands for Facebook, Amazon, Apple, Netflix, and Google. This acronym is used to describe the technology companies that are currently among the 10 most valuable companies in the world, according to the Forbes list. All of these tech companies became extremely powerful over the last decade. For example, back in 2013 Facebook was worth $104 billion while today it’s worth $523 billion.
FAANG Company Culture and Software Engineer Hiring Trends
If there is one thing that unites engineers across all industries, it is the love of technology and innovation. But when it comes to specific industries and companies, engineers are often divided. Engineers and tech professionals who work at FAANG companies are extremely passionate about their jobs. Studies show that employees at these companies are extremely satisfied and happy with their choice of career and company. Because of their love for their jobs, FAANG company engineers are very loyal to their employers. According to industry estimates, FAANG engineers are expected to stay with their companies for an average of 8 years.
Data-driven: FAANG Company Salaries for Software Engineers
Engineers who work at FAANG companies enjoy great salaries and benefits. According to data from Indeed’s salary survey, the average salary for a software engineer at FAANG companies is $138,000. However, different tech roles, company sizes, and experience levels can have a major impact on your salary. If you are looking for a new job in one of the FAANG companies, you can use our salary calculator to estimate your salary based on your experience and skills. Here are some interesting salary facts about FAANG companies: - Software engineers at FAANG companies make a median salary of $108,000 - $138,000 per year, while software engineers at the top technology companies make a median salary of $122,000 - $145,000 per year. - Software engineer salaries are highest in the San Francisco Bay Area ($149,000) and New York City ($142,000). - Engineers who work at the top FAANG companies typically earn a higher salary than those who work at other technology companies.
Some engineers have found a unique way to maximize their starting salary and bonus, this is done through enrollment in career mentorships. Coachable mentees make on average $145,000 and some students earn up to $200,000. This is slightly above the industry average and doesn't even factor in sign-on bonuses. The reason students of programs like this earn more initially is that they can negotiate with more certainty. These mentees have access to engineers who currently work in FAANG roles who know the salary their students can ask for. In addition to this students undergo intense training and preparation to develop their skills further and make them more qualified for higher-paying positions than their peers.
Final Words: Takeaway
Engineers have always been in high demand, and the numbers show that demand has increased as businesses become increasingly dependent on digital technologies. If you’re in engineering, now is a great time to be in the job market. With more and more businesses seeking to become tech-driven organizations, the demand for engineers will continue to rise. As the world becomes increasingly digital, businesses need engineers to help them stay relevant and competitive in their industries. If you are a software engineer and you are thinking of changing jobs, now is a great time to do it. Because demand for software engineers is high, you might be able to negotiate a higher salary and better benefits at your next job.
Are you a computer science major or a recent graduate looking to land a great SWE job that pays well? Apply for Coachable's next cohort to expand your opportunities.