Tech engineers' stock grants now worth millions

Equity grants at leading technology companies in Silicon Valley are transforming into significant wealth for engineers, according to analyses from Levels.fyi. A Software Engineer II offer from SpaceX in August 2022 included a $155,000 salary and a $365,000 equity grant vesting over five years. At SpaceX's IPO valuation, this grant is estimated to be worth over $4 million if held. Engineers who joined AI firm Anthropic in 2023 might now possess equity valued in the tens of millions of dollars following the company's valuation surge. Similarly, some equity grants awarded to OpenAI engineers in 2022 and 2023 are now estimated to be worth more than $50 million. However, these figures are not guaranteed windfalls, as factors such as vesting schedules, dilution, and lockup periods can reduce the final amount employees receive. Additionally, substantial tax liabilities will apply.