My rebirth is different

Chapter 858 Salary System Upgrade
With such a high salary, the requirements are naturally extremely demanding.

This is the most basic for doctoral students in world-renowned universities.

It is also required that the research direction must be what Facebook needs, and must have already emerged in the research field, and have published papers with certain influence in well-known academic journals.

Anyway, the starting annual salary of 50 US dollars is not so easy to get.

Facebook is of course qualified to demand such a high salary, because this salary is super high in any country.

Even if technology giants like Microsoft, IBM, and Amazon give new employees the same education, the maximum salary is only about [-] US dollars.

Not to mention domestic companies, the annual salary of the CEOs of most companies is not so high.

Therefore, this plan has been relatively questioned within Facebook.

The main reason for those who oppose is that even if these so-called talented doctoral students have rich theoretical knowledge, it is not certain whether they can transform knowledge into productivity.

Is it worth it to give them such a high salary when they come up, and will it cause dissatisfaction among the old employees?

For example, Lu Qi, the technical director of Facebook, has an annual salary of just over one million.

If the young man he found had an annual salary several times his, how would he feel about it?

Of course, Lu Qi made it clear that he supported this plan.

…………

After reading the plan, Yu Wenfei closed the file and pondered for a moment.

With the development of the company, some things need to be changed, otherwise, it will not be able to keep up with the development of the company.

In the early days of Facebook’s establishment, Yu Wenfei personally drew up the three-level system of employees.

Managers are graded with "M" grades, and the grades will determine the salary and benefits of employees.

Employees in technical positions are graded with "T", and the highest "T15" is capped, and employees in the T sequence generally have relatively high wages.

Employees in the market and support positions belong to the "P" sequence, with a maximum cap of "P13", and enjoy corresponding salary packages according to their grades.

The three major systems formulated at that time are relatively leading in China, and the employee benefits given are also the most generous in the same industry.

But now Facebook is very different from before.

Facebook has gone public, raised a large sum of money, and has become the largest social platform with the most users in China, and even started to go global.

Then, the corresponding management system and salary package of Facebook must start to be on par with the world's top companies.

Otherwise, where is the competitiveness?

Why not take this opportunity to systematically upgrade the employee system.

Completely solve this problem.

…………

"In this way, I think Facebook's original M, P, and T employee systems are a bit outdated. M is the management sequence, which can continue to be used without any changes. But P and T can be directly merged together. Let's use the letter P to represent it. From P1 to P15, there are 15 levels in total..."

Yu Wenfei explained the changed employee system.

According to the new system, M still represents the management sequence, and the level of the existing management personnel remains unchanged, but the salary package will be greatly improved.

It turns out that Facebook's treatment is the best in the domestic Internet industry.

At that time, Facebook still relied entirely on Yu Wenfei’s own and venture capital money, and the company itself had no revenue.

Relying on generous benefits, Facebook has attracted a large number of technical elites to join the company, leading all peer companies in terms of technical strength.

But Yu Wenfei felt that it was not enough!
Because Facebook in the future will face global competition. If it wants to attract the world's top talents to join the company, then the corresponding benefits must be compared with the world's top technology companies.

It is Yahoo, Google, Microsoft, IBM, Amazon, these real giants!
In addition, the current Facebook, through intelligent advertising distribution, already has a lot of revenue.

There is also a large amount of funds raised after listing, and more than one billion US dollars in cash are lying in the company's account.

Spend the money as it should!

Facebook has a compensation committee. Yu Wenfei is the chairman of the committee, and Cai Congxin is also the secretary-general of the compensation committee. Regarding the matter of employee compensation, the two discuss and form a document, which can be passed directly at the meeting.

According to Yu Wenfei's idea, a draft was finally drawn up.

Managers correspond to the M sequence, from M1 to M6, a total of six levels.

The salary corresponding to each level has been greatly improved compared to the original one.

In fact, this is also the promise Cai Congxin made to the employees when Facebook first went public, and he just took this opportunity to implement it.

M1, this is the level of junior managers, and the corresponding position is "supervisor".

The original salary of managers at this level is between 6K and 8K.

But in the new salary system, the starting salary is 10K!For senior executives, it can reach 12K.

M2, this level is the small department manager level, which is also divided into M2-1 and M2-2, which are deputy manager and manager positions respectively.

In the original system, the starting salary is 10K, with a cap of 20K, which is [-].

In the new system, the salary starts at 15K and caps at 30K.

M3, senior manager, refers to the experience of senior managers or core departments.

The original salary started at [-] and capped at [-].

In the new system, the salary starts at 30K and caps at 50K.In terms of annual salary, it would be five or six million.

M4, director level!

At this level, they are regarded as executives of the company, and their salary will be calculated according to their annual salary.

In the original system, the annual salary started at 50 yuan and capped at one million yuan.

Now there is not a small increase, starting with one million, and capping at 300 million!

And at this level, the extra benefits are also very rich.For example, there will be an installation fee every quarter. If you buy a car, the company will give a one-time subsidy of 30.00% of the car purchase cost.If buying a house, the company also provides a certain amount of interest-free loans.

In other words, if you can get to the M4 director level in a Facebook company, if you don't make major mistakes in the future.

The company has taken care of your food, clothing, housing and transportation, so prepare to work in the company until retirement!

M5, VP, that is, the level of vice president, the salary is blank...

Because of this level, the salary is negotiable, and will be considered according to personal qualifications, abilities, positions, etc.But how to say, Zim Technology’s scale requires 200 million yuan to start, and after it develops, an annual salary of [-] million yuan is normal.

There is nothing to change here, everything is decided according to the situation, and the salary and benefits are all negotiable...

Moreover, the company began to provide cars for the M5 vice president level.

It is tentatively scheduled to be the Audi A6, which is currently the hottest mid-to-high-end business executive model in China.It is naturally one grade lower than the bosses' Daben, but there are more vice presidents, so this car is fine.

(End of this chapter)