Why should developers pursue money?

See this on youtube: https://youtu.be/jNKT0dab32E

Hello, this is Hustle

Coding Academy that supports your hustle coding.

Today, let's start with the topic of

Why shouldn't developers pursue money?

Let's talk about salary negotiations

and stock options.

First, I prepared a little bit about

the developer's perceived salary in the Korean startup scene.

Since this is a sensitive topic about salary,

there may be some people who are tackling numbers,

but this number isn't absolutely correct,

it's just the numbers I've heard,

so don't be sensitive and just look at the range.

I think it would be better if you look at it in the sense that

Series C or higher start-ups

and affiliates of large corporations

are not referring to affiliates

with the name

Samsung Electro-Mechanics

such as Samsung Electro-Mechanics.

We're talking about startups,

and I've divided them

up into small startups

that many early stage startups

think about.

In fact, start-ups of Series C or higher

are now large-scale

companies that are close to large IT companies.

These companies are basically 3600 to 7000,

new entry standards.

I received this amount based on withholding tax on a new basis

Affiliates of large corporations range from 4000 to 6000

Early stage startups

said 2800 to 4000,

but in fact,

in the case

of early stage startups,

it is difficult to accept

this number.

When it comes to hiring new hires,

there is a mentor who can provide mentoring and training.

There aren't many companies out there (early stage),

so this number is a bit misleading.

So, if you look at the careers again, in fact,

there are really high variations in careers now.

Depending on the wage,

some people are very good

at negotiating the salary

or doing things like this,

so some people get high

and some get low.

For example, if there is nothing,

you can think of it

as going to a position

where you take

responsibility for everything

in an environment

where there are no engineers

and everything is made out of contract.

good because the salary is high

That's not the point,

it's a salary you have to take responsibility for.

I wanted to say that, but despite this,

the salaries in the Korean startup scene

are very low.

For example, it

is an overseas salary

statistic that was brought in.

Since Google and Facebook

are Google and Facebook,

you might say that this is not too big

a company. not again

Right now, the L3 and E3 parts are in this position, with new hires

who, on average, have been in this position for less than a year.

But if you look at the distribution, it's at least 200 million.

At least 200 million.

So, of course, because this is the US, the price is expensive and there must be something like that.

But considering that, for example,

even if you double the correction,

it should be 100 million by Korean standards.

But as you can see, it's not easy for newcomers to receive

100 million won in Korea.

The point I wanted to point out

is that the developer salary market in Korea is very undervalued.

i think so

I personally think that the range should be formed

at least 1.5 times

and 2 times more than it is now.

In fact, even if I listen to people

who work in other countries overseas,

in Southeast Asia, or in Europe,

I don't really know about their careers.

In the case of careers,

it is difficult to generalize because the range is very wide.

However, in the case of newcomers,

it is quite easy to generalize,

but in that respect, there is a thought that

the salaries of newcomers are too good.

Since Korea is a country that has grown

with an industrial structure based on manufacturing,

it has a lot of structure

in which companies grow by replacing people like this

by slashing labor costs.

That's why I don't

have a good idea of spending a lot of money

on labor costs.

It's still not there,

so now last year, there was a boom

saying that developer salaries are going up

a lot.

But it still seems a bit lacking

But I think this will take some time,

and I think that the consciousness of the developers

needs to be changed a bit.

I hope that there will be some awareness that you can negotiate

rather than be notified of your own salary.

I think that's why I started doing YouTube.

As a developer, you shouldn’t necessarily pursue money, and that’s

not the case, right?

So, first of all, it is better to understand

the reward system in startups.

One of the most used

is the TC standard.

TC is now a total compensation,

so you can think of it

as a combination of salary and stock options.

You can think of it as TC,

including bonuses, and there are some people who don't know a little about stock options.

In the case of stock options,

you can think of it

as the right to buy

stock in your startup.

But in general, there is now a thing called vesting.

There is a period called vesting.

So it's not that I can buy stocks like trading stocks

in the stock window,

but the current value, since it's a startup,

it's a very small value.

So if I exercise the stock option

with that small value,

I become a shareholder (of a startup).

But in general, look at four years.

Four years is more than two years under Korean law,

but if you work for two to four years,

you are given a right,

and if you exercise that right,

you become a shareholder.

In general, the price at which the right is exercised

is its present value.

For example, 4 years later,

I exercised a stock option.

But in 4 years, for example, it has grown 100 times.

It has grown 100 times.

Then the stock I bought for 100 won became 10,000 won.

It can be said that it is a stock option,

and if anyone is curious about the details,

please leave a comment and we will make an additional video.

Salary is cash

I think this is mainly about an American company,

but you can think of it

as a combination of our stock stocks and savings accounts.

So now, you can buy treasury stock

at 10% or 20%

cheaper, and you can

For example, about 10% of your monthly salary is now

given as stock.

You can think of it as such,

and I know that

this method is also used by larger organizations.

Knowing the compensation system

and getting a good salary in the end

is important in

the capitalist market.

Let's stick together, something like this is good

But while giving you the minimum hourly wage,

he emphasizes royalties only with words.

That's actually a bad sign.

In the capitalist market, paying a lot of money

and giving some kind of treatment

is now market logic.

So, talking about the salary.

I think I'm going to get into

one of the soft skills now.

So, what I felt while tutoring in college

was that there were some things

that were

a little bad in Korea

about talking about money than I thought.

For example, when I talked about how much

the unit price was

and how much I would like to receive next month,

why did I reveal the money like this?

When we talk about money,

there seems to be some talk of a money-crazy money misa,

but I don't think that's actually me.

'Cause I can't help

but give a lot of money to people talking about money

If you stand still, why would the company upload it?

That's why I

call this a salary notice.

I'll just sit back and take what you give me

What I do is report on my salary,

and I think you need to prepare properly to negotiate your salary.

This is not something that

HR can help,

and it is not something that

the company can help.

You can prepare for a negotiation in three steps.

First, you can determine the market value.

About how much

the technicians are receiving

for their own ransom

price or specs, for example,

if it is a silver fashion domain,

the developers of the fashion domain

get this much.

This is now optional, but

as I said before,

it actually gives

no counter-power notification.

The company can only give us this much right now

If you don't have the ability to say you're sorry,

then I'll go somewhere else,

you'll have no choice

but to receive a salary notice.

So, if you can prepare an offer to another company, it is better to prepare.

When I saw a lot of people around me,

even if they didn't want to move to the company,

I've seen a lot of people interviewing

at least once a year,

and I don't think that's a bad thing.

Because actually, it's good if you just work

like a civil servant for a long time

in the same company.

But by preparing this offer

and summarizing my contributions to the company,

I would like to receive this kind of salary

and how much would you give me?

I think there's a difference between saying "Oh,

just a little more" and "professionalism"

So, prepare an offer from another company

and organize the parts that have contributed to the company.

This is simply how much I worked

and how much overtime I did not have this concept,

but because of these modules that I made,

I got this benefit in time,

and because of this in the company,

I think I should get this level of salary next year.

I think it's a very

good way to actually negotiate a salary

with these numbers.

But in that situation,

if the company says no salary negotiation,

then you can make an offer to another company.

Other companies

say they will give you

this much,

then I will prepare

like this

It's not just the salary,

but when you go to another company,

there can be stress on people

and there can be unexpected things.

That is why, although salary is not everything,

I think that being decided within the scope of

one's own control

and receiving a thunderbolt

are very different from each other.

And timing is also important.

In the 2021 job change market,

it was a timing when the ransom price rose so much that

if you didn't raise your annual salary by more than 20%

and moved, you could say **.

But it's not good right now

It's winter for startups

There are even talks like this,

but I think I have two main stances.

I think it's a good time to wait

and see the timing after 2023

or to advance overseas such as the United States.

Because right now, when there is a cold

wave in investment,

even in the United States, we are reducing hiring.

But especially in the case of early-stage startups, in such a case,

they have no choice but to hire now.

Because the timing to reduce hiring

in Big Tech is now the hiring

timing for early-stage startups,

if you are thinking of going overseas in the US,

it might be a good way to go overseas

at this time.

So today, I've been talking about salary

negotiation and start-ups up to this point,

but I dream of a world

where developers are treated more and become richer.

That is the meaning of hustle coding

and I support your hustle coding.

See you next time with a better video. Thank you.