Amazon Senior Finance Manager Salary London
Amazon Senior Finance Manager Salary London – The purpose of this guide is to arm you with the basic information you need for your future Amazon salary negotiations. If you just received your Amazon offer letter, this guide will help you maximize your total compensation.
If your situation is unique or you would like 1:1 support to maximize your compensation, please sign up for a free consultation with our expert negotiators.
Amazon Senior Finance Manager Salary London
A typical job offer for a technology role at Amazon (such as Amazon Software Development Engineer) should include the following monetary components:
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Your recruiter will break down your Amazon offer letter into sections that outline each component that makes up your total compensation. The image below shows the base salary and signing bonus sections.
We suggest clients turn the offer letter into a 4-year spreadsheet. This helps you evaluate the offer from a TC (total compensation) perspective, which is especially useful given the different compensation structures of large tech companies. The example below shows the average Amazon salary for a 2021 L5 Seattle offer.
Amazon’s total annual compensation is actually higher in year 1 and year 2 because they informally did 15% annual stock appreciation. This is, of course, a bold assumption, and we recommend including it when comparing job offers. See the email below from an Amazon recruiter that describes this.
A high-level overview of Amazon’s typical salary and overall compensation structure is certainly helpful, but there are many important nuances to each of these components that are very different at Amazon compared to companies like Facebook and Google. We’ll provide as much general advice as possible below, but if you’re looking for more personalized advice, we recommend you call our negotiation team.
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Amazon famously had a base salary cap of $160K in Seattle ($185K in SF/NYC), and recruiters liked to remind candidates that Jeff Bezos was subject to the same base salary cap. However, in 2022, Amazon increased its base salary to $350,000. Most roles will not reach the maximum base salary because total compensation is still made up of many components. However, for senior and executive clients, it is now possible to increase your base salary to $350,000.
Since it’s impossible to raise your base salary above this limit (this is true, not an Amazon negotiation tactic), if your initial offer was $900K in the first year with a base salary of $350K, that’s a much better strategy; concentrate. Your Disclaimer of Signing Bonus Components and RSUs.
2 Year Signup Bonus The reason Amazon offers this is actually related to a separate component, the RSU, which we’ll get into in detail shortly.
A quick summary is that Amazon only pays a small portion of the equity in year 1 and year 2, and as a result they offer signing bonuses in both years to ensure that performance is similar in all 4 years.
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Recruiters and hiring managers generally have a lot of flexibility to increase signing bonuses. In some situations involving highly competitive candidates, we have seen these numbers double from initial offer to final offer.
These signing bonuses are paid monthly for the first 2 years and are non-refundable (meaning you don’t have to pay back any money you’ve earned) if you leave within those 2 years.
This point is often misspelled in other articles, so we’ve included the word we’ve seen in all of our Amazon bidding contracts:
In appreciation of your decision to join us, you will be authorized to co-sign a payment of $151,000.00. This entry payment will be provided as part of the prorated payment period when you complete your first year of employment with the Company. Each payment will be earned at the time of payment. If your employment with the Company is terminated for any reason prior to the first anniversary of your start date, you will receive a final prorated rate based on the days worked in your last pay period. No additional installments will be paid.
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As a final point, this bonus is taxed as ordinary income, not a special one that can be a tax break.
Many large technology companies vest RSUs uniformly over 4 years. This means that if you are granted $400K RSUs, you will receive the following:
This is true at companies like Facebook and Microsoft. Additionally, these companies have more frequent delivery dates throughout the year. Shares on Facebook are awarded every 3 months.
But Amazon doesn’t follow this approach. Amazon RSUs vest 5% in Year 1, 15% in Year 2, 40% in Year 3 and 40% in Year 4.
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“Subject to the approval of Amazon.com, Inc.’s board of directors, you will be granted an Amazon.com, Inc. restricted stock unit award. for 97 shares of stock.
This award will vest and convert into shares of common stock over four years as follows, subject to your continued employment with the Company;
Another aspect that is unique is that Amazon quotes equity values in terms of number of shares rather than dollar value. To compare with other offers, you need to pull the average price of the stock during the 30 days before the date of creation of your contract (for example, the image below). Note: Amazon rounds the calculation when calculating how many shares there are in years 1, 2 and 3, although it will be adjusted in the final year.
But here’s the catch. If Amazon made you an offer on May 10, the number of RSUs will be determined based on the average stock price in April. In April, the average price of Amazon shares was about $3,000 per share. However, the average in May was around $2.2K.
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Let’s say your offer needs to be $100k in equity. If you close the offer in May, you will use the $3K share price, which will result in ~33 RSUs. If you wait and sign the offer in June, the number of RSUs for the same offer will increase to ~45 RSUs. Upon acceptance of the offer, you will immediately have 12 more RSUs (40% more RSUs). It’s worth noting that doing this correctly requires the recruiter to resubmit your offer in June, but it’s possible to reinstate the offer without special approval at the new RSU price if you take the right approach.
We helped negotiate with recruiters to delay signing our client’s contract until next month. It’s critical to be on time to make sure you’re not leaving money on the table.
Another anomaly in Amazon’s compensation is its performance bonus. At many large tech companies, performance bonuses are relatively predictable.
For example, Google targets a 15% performance bonus for L5 software engineers, and ~85% of engineers receive at least that amount. But that’s not the case with Amazon.
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If pressed, recruiters will eventually discover that only a small percentage of Amazon’s top performers receive a performance bonus. Most Amazon offer letters don’t even include a section outlining the target performance bonus.
You should definitely consider the target bonus of other companies when comparing competing offers against Amazon if those companies are known to typically pay their target bonus.
Stock upgrades are also rarely offered on Amazon. Like all companies, they depend on your performance review.
While stock upgrades do exist at Amazon, they are fairly rare (especially at the junior levels) and typically have a much lower dollar value compared to other major tech companies. Stock updates start to get better at senior levels (L7+) but still pale in comparison to updates given to Facebook or Apple.
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Rora helped negotiate a wide range of deals at Amazon. Candidates certainly need to know the latest role salary information like Amazon Data Scientist Salary or Amazon Technical Project Manager Salary. However, it can also be useful to understand these wage trends at the industry level. Therefore, we aggregated that data for different roles, setting seniority level (L5) as the criterion.
Keep in mind that the above data points are industry wide and not specific to Amazon. There are many company features here. For example, Amazon’s software engineers and application scientists are compensated quite competitively. However, Amazon marketing salaries (such as PMM), Amazon product design salaries, and Amazon user research salaries are often below average.
Before the pandemic, Amazon was primarily an office culture. There were selected exceptions where teams had a remote presence, but the majority of teams were located in the office.
In the past two years, Amazon has firmly adopted a more remote policy. In order to be competitive in the late 2021 hiring market, Amazon has decided to enable the organization’s managers and executives to work remotely. Some managers choose to keep their teams in the office, but others have fully embraced remote work and allow you to work anywhere in the United States or, sometimes, even abroad.
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If remote work is a priority for you, talk to your recruiter to find a team that is remote ahead. Each Amazon recruiter helps recruit multiple teams and will often have a team they can connect you with. If they don’t, ask if there is another recruiter they can contact