Why did they lave and where did they go?
11 replies (most recent on top)
I retired (58). Had enough of the toxic environment and cut the cord. No regrets
Outside of IBM, everyone I know in a dev role expects RSUs as part of a standard package.
In this hot market, even tech writers get RSUs.
anyone leaving ibm at ANYTIME over the last two DECADES... will pay way more than ibm. they've always lagged in base, bonus, and stock plan. this is nothing new. ibm was always tight with $ because they knew of aging workforce who had few options, generously allowed for remote work, and there were options to move around the company freely...at least 10-15 years ago..(the latter 2 considered benefits in exchange for lower pay )
i left in 2018, currently an IC with total comp equivalent to a Band D/C... 37% higher base, lots of RSU's that vest frequently and a bonus that's paid 40% over the past 2 years..last year was first year i hit highest tax bracket...
Leaving for Microsoft soon.
Boss said he was happy he got what he did (eg a tad zot more) to distribute - but not enough - and that it would still take 4-5 years to catch everybody up.
So they can't in good confidence say this year's plan will attain any sort of parity - all they're really doing is making it so most can't truthfully say they never got a raise or one in 6-10 years.
For all of you stressing about this - the key is to stop bi-----g and whining and to (1) make a plan, and (2) work on executing it, to not (3) make any stupid move. It's amazing how much you can put up with (teflon suit) knowing you've a plan and you're executing it under your control not theirs.
My current plan? With five weeks vacation and retirement on a short horizon with date picked I'm arranging financials and paving the road. So I don't care much what the number.
Just looked at LinkedIn... IBMers announcing daily they have left and started somewhere else. Most are going to AWS. There has been a lot of high profile IBMers leaving, DEs, Fellows, etc... Everybody is fed up because IBM is cheap...
I am on my way out... going to Google.
Yes. I left 10 mos ago. Is that recent to you? Glad I did! I hated it for the last year I was there. Stupidity in the organization both vertically and horizontally.
As others mentioned, many retirements (not just 'forced'), most I know left to FAANG, Microsoft, etc for not just higher salary but RSUs and bonus with an average jump of 75% to their total compensation. I know 25 personally and learned about another 2 after transferring teams.
IBM supposably this year is trying to bring base salaries in line with market for more of their devs but who knows since there are no other incentives. Someone mentioned top 1% gets RSUs but even those are like 5-10K/year with 2 year vesting for each 50% worth.
Multiple people, all went to mid-size 'new' tech companies (people call them startups, but a 10+ year old multinational is not a startup) and every single one left because they got offered much more money and IBM would not match. That's just the straight-up cash side, never mind that IBM gives RSU's to maybe 1% of devs while every one of these people got RSU's in their signing package.
LOTS and LOTS of retirements!!
I think many people (myself included) postponed retirement during COVID and are getting out now!
I left on my own, retired at 62. Have a small side consulting gig now.
I moved from NJ to the Philippines (my wife is from there), the weather is good, we are close to the water and food is amazing. Things are inexpensive and people are friendly. Cannot ask for more.