Sr Business Development Manager Amazon Salary
Sr Business Development Manager Amazon Salary – The goal of this guide is to equip you with the essential pieces of information you need for your upcoming Amazon salary negotiation. 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 assistance to maximize your compensation, please sign up for a free consultation with our expert negotiators.
Sr Business Development Manager Amazon Salary
A typical job offer for a technical role at Amazon (such as Amazon Software Development Engineer) should have the following monetary components:
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Your recruiter will share your Amazon offer letter with sections outlining each component that includes your total compensation. The figure below shows the base salary and signing bonus components.
We recommend clients to convert the offer letter into a 4-year chart. This helps you evaluate the offer from a TC (Total Compensation) perspective, which is especially helpful given the different compensation structures at large tech companies. The example below shows the average Amazon salary for the 2021 L5 Seattle offer.
Amazon annual total compensation is actually higher in years 1 and 2 because they informally factor in 15% annual stock appreciation. This is certainly a bold assumption, and we would recommend against including it when comparing job offers. See below for an Amazon recruiting email outlining this.
A high-level overview of the typical Amazon salary and total compensation structure is certainly helpful, but there are many important nuances to each of these components that are quite different at Amazon than at companies like Facebook and Google. We’ll share as much general advice as possible below, but if you’re looking for more personalized advice, we’d recommend signing up for a call with our chat 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 cap on base salary. However, Amazon has increased its base salary cap to $350K in 2022. Most roles will not reach the base salary cap because total compensation still includes multiple components. However, for senior and executive clients, it is now possible to max out your base salary at $350K.
Since it’s impossible to raise your base salary above this cap (admittedly, not an Amazon negotiation strategy), if your initial offer was $900K in the first year with a $350K base salary, that’s a better strategy to focus on. . Your Denial of Signing Bonus and RSU Components.
Year 2 signing bonus. The reason Amazon offers this actually relates to a different component, RSUs, which we’ll cover in detail shortly.
The quick summary is that Amazon only pays a small portion of the equity in years 1 and 2, and as a result, they offer a signing bonus in both years to ensure that the comp is the same in all 4 years. is
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Recruiters and hiring managers usually have a lot of flexibility to increase signing bonuses. In some situations with highly competitive candidates, we have seen these numbers double from initial to final offer.
These signing bonuses are paid on a monthly basis during the first 2 years and are non-refundable if you quit during that 2-year period (ie you don’t have to pay back the money you earned).
This point is often missed in other articles, so we’ve included the words we see in all of our Amazon offer contracts:
“In appreciation of your decision to join us, you will be eligible for a sign-on payment of $151,000.00. This sign-on payment will be released in prorated salary period installments as you complete your first year of employment with the Company. Yes. Each installment will be received at the time of payment.
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If your employment with the Company is terminated for any reason before the first anniversary of your start date, you will receive a final prorated installment based on days worked in your final pay period. No additional installments will be paid.”
As a final point, this bonus is taxed regularly, not special income, which can be a tax advantage.
Many large tech companies vest RSUs evenly over 4 years. This means that if you are awarded $400K of RSUs you will receive the following:
This is true at companies like Facebook and Microsoft. In addition, those companies have vesting dates repeatedly during the year. At Facebook, equity vests every 3 months.
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However, Amazon does not follow this approach. Amazon RSUs vest at 5% in Year 1, 15% in Year 2, 40% in Year 3, and 40% in Year 4.
“Subject to approval by the board of directors of Amazon.com, Inc., you will be granted a restricted stock unit award with respect to 97 shares of Amazon.com, Inc. common stock.
This award will vest into shares of common stock over four years and is subject to your continued employment with the Company, as follows:
Another aspect that is unique is that Amazon refers to equity values in terms of number of shares rather than dollar value. To compare with other offers, you’ll need to pull the 30-day average stock price in the month prior to your contract creation date (eg figure below). Note: Amazon rounds down when calculating how many shares in years 1, 2, and 3, although this will be corrected in the final year.
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But here is the catch. If Amazon made you an offer on May 10, the number of RSUs will be determined based on the average share price in April. The average share price on Amazon in April was around $3K per share. However in May, the average was closer to $2.2K!
Let’s say your offering must be $100K in equity. If you sign the offer in May you will be using the $3K share price which will result in ~33 RSUs. If you wait and sign the offer in June the number of RSUs on the same offer will increase to ~45 RSUs. By timing your offer acceptance you immediately get 12 more RSUs (40% more RSUs). It’s worth noting that to do this properly you’ll need the recruiter to re-issue your offer in June, but if you use the right approach, offer with the new RSU price without special approvals. It is possible to reproduce
We helped negotiate with recruiters to delay signing our client’s contract until next month. Getting the timing right is very important to ensure you don’t leave money on the table.
Another anomaly with Amazon compensation is their performance bonus. At most large tech companies, performance bonuses are relatively predictable.
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For example, Google targets a 15% performance bonus for L5 software engineers, and ~85% of engineers receive at least that amount. However, this is not the case with Amazon.
If pressed, recruiters will eventually reveal that only a small percentage of top performers at Amazon receive performance bonuses. Most Amazon offer letters don’t even include a section outlining target performance bonuses.
You should be aware of target bonuses at other companies when comparing competing offers against Amazon, if those companies are known to typically pay their target bonuses.
Stock refreshers are also rarely offered on Amazon. Like all companies, they depend on your performance review.
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While stock refreshers do exist at Amazon, they are fairly rare (especially at the junior level) and typically have very low dollar values compared to other major tech companies. Stock refreshers start to get better at senior levels (L7+), but they will still pale in comparison to the refreshers offered on Facebook or Apple.
Helped negotiate a wide range of offers on Amazon. Of course candidates need to know the latest role-specific salary information such as Amazon Data Scientist Salary or Amazon Technical Program Manager Salary. However, understanding these salary trends at the industry level can also be useful. Therefore, the data for various roles followed, setting the senior (L5) level as the benchmark.
Remember, the data points above are industry wide, not specific to Amazon. There are many company features. For example, Amazon software engineers and application scientists are compensated quite competitively. However, an Amazon marketing salary (ie PMM), an Amazon product design salary, and an Amazon user research salary are all often below average.
Before the pandemic, Amazon was primarily an office culture. There were select exceptions where teams had a remote presence, but most teams were in the office.
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In the last two years Amazon has of course adopted more remote policies. In order to be competitive in the hiring market in late 2021, Amazon decided to give managers and organization leaders the choice of whether to allow remote work. Some managers have decided to keep their teams in the office, but others have fully embraced remote work and will allow you to work anywhere in the US or sometimes even overseas.
If working remotely is a priority for you, talk to your recruiter to find a team that’s remote-forward. Each recruiter at Amazon helps recruit for multiple teams and often has a team they can connect you with. If they don’t, ask them if there is another recruiter they can put you in touch with
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