While most people would be thankful just to have a job in the current economy, Facebook is tossing out $1 million to engineers like it’s nothing.
We’ve covered most if not all of the talent acquisitions made by Facebook in recent years, but the New York Times ran a featured story on the topic this morning.
So how much is Facebook paying for talent? According to Vaughn Smith, Facebook’s Director of Corporate Development, “Engineers are worth half a million to one million.” All engineers are not created equal, though.
As we saw with FriendFeed, Facebook is willing to pay more for top notch talent. How much? Facebook won’t disclose the amount but Mr. Smith just threw out a good starting point for negotiations. While AlleyInsider has taken the number to be literal, we see it as a way for Facebook to see what type of interest they can generate from startups that are stagnating or running out of cash.
Granted, even $1 million is a lot for a signing bonus. However I’m sure Facebook isn’t willing to throw out that much money for any old developer. They want entrepreneurial engineers who are also extremely talented. Typically those engineers then come on as product managers. With Google and Facebook battling each other for engineers, the price will only continue to rise.
One thing is for sure: It’s a great time to be a software engineer.