Correct way to interpret compensation "bands"? Are they even real?
Hey all,
Disclaimer: I am going to take this offer no matter what (life circumstances), so this is not a "which offer do i pick?!?" post.
I am in the process of moving jobs, away from gig (instacart/DD/uber) and into fintech (square/stripe/plaid), and I just learned that I passed the Senior interview and will be receiving an offer. I am fresh off of a very "hot" conversation with the recruiter where I held firm instead of succuming to any numerical pressure yet. When asked "is there a number that will make you say yes" or "what are you looking for," I stayed generic and non-committal. The only vibe I gave off is that, given my interview performance (he openly admitted that I was close to upleveling to Staff) and career history (have worked at Fintech extensively), I am expecting a strong offer.
He also quoted exact band values, denoting that 410 was the "cap" for Senior eng. I have a friend who works internally and was hired about 8 months ago, and I know that this cap is just completely false and that they are capable of going way above band. Now this has made me wonder how many times in my career I've let the notion of a "band" prevent me from negotiating for more comp... are these bands just not real at all? Do they use indecisive language to qualify for the laws about comp disclosure in the Big cities?
I am planning on pressing for an offer similar to what my friend got, but I feel like the entire notion of a "band" has just been fractured for me. What's the right way to think about bands? Are there any ramifications to getting hired above/below band? Would love to hear any experiences, thanks!