In this issue of career intelligence newsletter

• Anatomies of Amazon PM and TPM Offers 
• Warning: Amazon layoff and slowdown in hiring
• Why it's the best time now to escape from a Dead-End Career While There's Still Time
• Cannot miss tech industry news
• Mega 1-on-1 career coaching course: From Employee to Executive 
• Check out other career guide books I have written
• A quote I'm pondering

Anatomies of Amazon PM and TPM Offers

Today I’m sharing with you two recent job offers: one level 6 Product Manager offer, and one level 5 Technical Program Manager offer. (Disclaimer: I have changed the data slightly to protect confidentiality but both the numbers and structure of the compensation reflect the current reality of Amazon offers.) 

Let’s start with the Level 6 Product Manager offer:

• Job title: Product Manager

• Level: 6

• # of years of work experience: 5+

• Base Salary: $150,000

• Year 1 sign-on bonus: $55,000

• Year 2 sign-on bonus: $45,000

• Restricted Stock Units:  $150,000 worth of RSUs 

• RSU vesting schedule: 5%/15%/40%/40%

• Relocation: $15,000

Total Compensation:

• Year 1: $212,500

• Year 2: $217,500

• Year 3: $210,000

• Year 4: $210,000

• Total: $850,000

Now, let’s take a look at a recent Amazon level 5 Technical Program Manager (TPM) offer:

• Job title: Technical Program Manager (TPM)

• Level: 5

• # of years of work experience: 5+

• Base Salary: $150,000

• Year 1 sign-on bonus: $50,000

• Year 2 sign-on bonus: $40,000

• Restricted Stock Units:  $100,000  worth of RSUs

• RSU vesting schedule: 5%/15%/40%/40%

Total Compensation:

• Year 1: $205,000

• Year 2: $205,000

• Year 3: $190,000

• Year 4: $190,000

• Total: $790,000

Observations:

• Amazon Level 6 has a very wide range. In my previous newsletter, I shared a couple level 6 offers that are in the $400K range. Those were at the higher end of Level 6 offer. For this particular Level 6 PM offer, the average annual total compensation is around $210K. It’s at the lower end, but it is a fair offer to the candidate who got significantly more than what he was getting previously. 

• The Level 5 TPM offer is at the higher end of Level 5. Her average annual total compensation is $197,500, which is close to the lower end of Level 6. 

• The key takeaway is that Amazon is a very flat and large organization. The compensation range within a level is very wide. And the compensation at the lower end of level 6 could be only a little bit higher than the compensation at the higher end of level 5. 

• One common question I get from clients is if they should fight for a higher level. Here is my answer: it’s very hard to “fight” and convince Amazon to give you a higher level. In fact, most candidates should expect job title and level deflation. But, Amazon will put you in the right level for Amazon to make you a competitive based on your expected compensation, years of experience, professional and academic background. 

Need help to nail your upcoming interview with Amazon, Facebook, Salesforce, Google, Microsoft or other tech firms? Sign up for my 1-on-1 personalized interview coaching programs. You can reply this email or check out my coaching page with details, a list of recent job offers, and client testimonials.

Warning: Amazon layoff and slow-down in hiring

From March to June during COVID-19, Amazon has been recruiting very aggressively. However, that is coming to an end. This is NOT unexpected at all. As I have mentioned in previous newsletters, I fully expected Amazon would slow down hiring in July and August. Let me explain.

Amazon has its annual OP1 (budget planning) process from June to September. During this time Amazon tends to slow down hiring. Some groups at Amazon will even have hiring freeze. 

This year, although Amazon's top line sales is growing very well due to COVID-19, it's facing two issues that is hurting its profitability:

• Amazon has to invest billion of dollars to improve health and safety measures in its warehouses due to COVID-19
• Grocery e-commerce's growth is accelerating, but it is also one of the lowest-margin businesses inside Amazon

• Overall, Amazon hiring is starting to slow down. Some departments will have hiring freeze
• There will be a lot more current Amazon employees who will be put on PIP and eventually managed out between now and September
• Amazon's hiring will pick up pace again in September

Why It's the best time now to escape from a Dead-End Career while there's still time

If you're a square peg in a round hole, it's time to figure out ways to get offers from square-hole employers with deep pockets that truly value your sills and and who you are.

If you have hit a dead end in your career, it's time to invest in yourself, develop new skills, and pivot to a new career.

If you have hit a ceiling in your career, it's time to figure out why you have been stuck and get over it.

If you decide that you've spent too many years dealing with corporate hierarchies, office politics, blame-shifting and back-biting, it's time to start your side hustle and eventually turn it into a full-time business.

With shelter-in-place, a lot of us are saving at least 2 hours of commute time every single day. That's 10 hours a week, 40 hours a month. Additionally, you don't need to pretend that you're working 60 hours a week as your boss and coworkers cannot look over your shoulder. When will you have these much time at your disposal again in the future? You must take advantage of the extra time you have at your disposal now. 

Personally, I graduated from business school in 2004, got married and had kids. I cannot believe how fast time had flown by in the past 16 years. It is a blur.  My kids are about to enter high school. Anther 16 years, I'll be eligible for collecting social security retirement benefits. We have about 20-30 years of prime time for our career. It gets harder as you get older. Every year counts. 

Over the years, I have worked with hundreds of clients to help them turn around and accelerate their careers. Almost every single one of them wished they had taken action sooner. They spend too much time to think, want  and plan "a change" without taking actions. Don't wait. Take massive actions. The most important investment you can make is in yourself. Take advantage of the extra hours you have now. 

Key Industry News Headlines 

• Uber lost out on Grubhub. That's bad news for Uber Eats
• Instacart Worth $14B After Latest Financing Round
• Amazon and Microsoft pause police facial recognition and demand regulation
• This is one Amazon customer that Jeff Bezos is ‘happy to lose’

Mega 1-on-1 career coaching: From Employee to Executive

• You’ll have a seasoned executive (me or my colleagues who are also current executives) as your personal career coach/confidante/mentor for the next 6-12 months. Our coaches are former CEO, CTO, CIO, CMO, GM, VP of Engineer, VP of Product, etc.
• Duration: 6-12 months (1 or 2 1 on 1 coaching sessions per month)
• 10 60-minute Zoom coaching sessions
• 12-month mentoring/consultation via Email: You will have access to me for email based career advice for 12 months. You can ask me anything any time (e.g. stuck in career, difficult boss, corporate politicians, presenting to senior executives, need fire someone, etc.)
• Our executive coach/mentor will work with you to
  • Define strategy, road map and plan to unstuck your career
  • Gain clarity of what you want, and identify root causes of your career stagnation and frustration
  • Help you work on your emotional intelligence at workplace. Coach you how to get promoted, and move up the ladder
  • Figure out how to navigate corporate politics — one of the most critical skills for moving up the ladder. 
  • Revise and polish your resume and social media profiles to build your personal brand. 
  • Practice interviews
  • And more. 
• Price: $4,999
• You’ll be coached by a seasoned corporate executive who has been through all of the ups and downs of a corporate career and have successfully tackled many of the challenges you’re dealing with now.

Past Email Newsletter archive are now available

Check out best-selling books I have written 

• Secret of People Who Always Get Job Offers

• How to Get a Job At Amazon

• How to Get a Job At Google

• Smart Move: How to Become a Product Manager

• Amazon Side Hustle

A quote I'm pondering

 “The 5 Second Rule is simple. If you have an instinct to act on a goal, you must physically move within 5 seconds or your brain will kill it..” -- Mel Robbins. I recently watched a TED Talk by Mel Robbins on her 5 Second Rule. I thought it was a clever mental trick to get you take action. 

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Cheers, 

Andrew Franklin