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December 06, 2005
Whoa
Not that I don't love my magazine and all, but I'm applying for a job with google.
December 6, 2005 | Permalink
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If you look at it carefully, all the perks at google are designed to reduce the amount you have to leave work. I'd be interested to know what median work hours are for salaried employees.
Stock options in google aren't really worth anything; everyone knows they're overvalued. Paid family leave is amazing, I must say.
Google Fridays -- the "spend 20% of your time on your own ideas" -- has yet to produce major customer facing impact. But it probably reduces the company's recruitment costs.
Posted by: Nicholas Beaudrot | Dec 6, 2005 4:38:18 PM
Here's a bit of info about stock options for those of you who've never gotten them.
When you join a public company, your options are issued at a 'strike price' which is generally tied to the price of the company's stock on the close of business the day the options are granted. Eventually you vest your options and sell them. The $$ you get is the difference between your strike price and the market price the day you sell them (less taxes).
Sounds good right? Now, if you're a pre-IPO employee, or if the stock is poised for a big upswing over the next few years, then yeah, it's an excellent way to become an instant millionaire. The problem is, if the company's stock should happen to decline after you get your strike price, you could well be stuck with options to purchase the stock at a price far above current market value. In other words, your options would be worthless.
Google is currently trading at about $400. How much higher can they possibly go?
In short, I would not want Google stock options as a new hire these days unless Google was offering one hell of a discount in the strike price.
Posted by: fiat lux | Dec 6, 2005 6:30:41 PM
It's worth noting that the article may be wrong and employees may instead get RSU's or explicit stock grants.
Posted by: Nicholas Beaudrot | Dec 6, 2005 7:34:52 PM
If you look at it carefully, all the perks at google are designed to reduce the amount you have to leave work.
Yes, an acquaintance of mine who once worked down at Google in some menial capacity has pointed out that the company encourages its workers to bring their dogs to the office (for instance) precisely so that they never have to leave. Still, some of those things do seem nice...
Posted by: Brad Plumer | Dec 6, 2005 9:15:15 PM
Hm, do intellectually satisfying work or menial tasks? Work or menial tasks? Hm, now, why did I go to college again? I'm sure there was something I was trying to minimize in my life, but I can't for the life of me think of what it was? Guess I'll go do the dishes while I try to think of it.
Posted by: Kimmitt | Dec 6, 2005 10:32:19 PM
Google employees get stock options and stock grants. Both are on a vesting schedule so new employees don't get anything for at least a year, but the stock grant is simply stock that is whatever price it is when it vests - not a bad deal.
Posted by: Anonymous | Dec 7, 2005 1:40:16 PM
I'm thinking of going to work there, so long as the opions they give me are puts.
Posted by: Matthew Holt | Dec 8, 2005 8:49:29 PM
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