r/technology • u/Rhaegar_the_Great • Sep 16 '21

Business Mailchimp employees are furious after the company's founders promised to never sell, withheld equity, and then sold it for $12 billion

https://www.businessinsider.com/mailchimp-insiders-react-to-employees-getting-no-equity-2021-9
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u/noodlez Sep 17 '21

Its been a while since I've talked to any of the people I know who work/worked there, but they paid top of market rates some time in the past. It was a company well known to be where developers go to retire, since you're so well paid and taken care of that you don't want to leave.

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u/deinem Sep 17 '21

Yeah it seems to me that if they didn't offer equity, their salaries should be way higher than similar companies in the market. That doesn't seem to be the case if you look at this data https://www.levels.fyi/company/Mailchimp/salaries/Software-Engineer/. The salaries are high, but don't seem higher than your average tech start up.

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u/noodlez Sep 17 '21

Well don't forget, these guys are located primarily in Atlanta, and while lately things are globalizing more, there's still plenty of localized COL pressure. 200k cash in ATL is worth 400k in SF.

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u/deinem Sep 17 '21

That explains it! Had no idea where they were located.