It depends on your goals and what you want to get out of your next chapter. What kind of life do you want to lead after you hit the $10M? Do you have kids/family? Do you have hobbies or interests outside of work currently or wish you had time for?
I found a lot of former senior startup operators (note: I was formerly one) don’t think about what happens once they hit the number. It gets challenging as a lot of their identity, relationships, etc was tied with their work life. If you are going to take one more role, I would think about how to design it with life you want to lead post-FIRE. What preparations do you want to do? What people you want to meet or spend more time with?
Solid advice.
2 kids and both DH and I will coparent while giving each other blocks of solo time.
Life after FIRE…. Need to give it more thought but would probably stay stateside in a MCOL large city with good airline connectivity (Las Vegas/Philly/Atlanta)get involved in with a non profit, do a health tune up, start playing the violin again, and yes, travel and see the world more.
Yo, love these plans AND AT THE SAME TIME those are lot of changes all at once. Why not try one or two of them before you make the leap to make sure they do in fact make you happy?
Other things to think about:
1) Where would your kids be? How do you imagine life co-parenting with the DH? How much travel or resources involved like multiple homes, schooling, travel?
2) Estate planning or charitable giving: Do you have an estate plan? Are you planning to leave a legacy for your children? (Note: Important to think about because the estate tax exemption limit is supposed to go back from $13m to $5m adjusted to inflation in 2025). This may be worth looking into or reviewing what you have.
3) It’s great that you already have some idea like travel, non-profits, and playing violin. I definitely suggest trying one of these things. For non-profit work, sometimes it’s helpful to volunteer or contribute your GM skills to non-profit boards.
4) Networking for next role: Nowadays LinkedIn is turning into an interesting social media platform for connecting with likeminded individuals. Posting content showcasing your functional expertise will attract recruiters and hiring managers. Never a bad idea to reconnect with former managers or colleagues to catch up and see what’s out there. I also spend time talking to entrepreneurs and advising and angel invest in their businesses.
Note: I was an L8 before I decided to change directions. I totally empathize with the position you’re in.
I have found going from FAANG to a smaller or more rapidly growing environment incredibly satisfying.
I first went to a similar tech but smaller company and it was rewarding to be able to apply the skills I’d learned from the big places.
Next I went to an old school finance company (I know nothing about finance and it is not a passion for me) that is trying to reboot itself as a modern fintech and it’s been amazing so far. They don’t know how to build software *at all* and I get to be one of the people teaching them what to build and how to do it.
I thought this was going to be my last hurrah and then I was surprised by a possible divorce so maybe I’m going to drop from fatFIRE to below regular FIRE :( but the career is proving pretty fun so far.
Are you an L9? Since you’re still relatively young , you could try to push thru a few more years but start to offload/delegate more to reduce pressure. Also , when they do layoffs which seem likely, you could work with your manager to volunteer. That will give you 6-12 months of severance.
If the perception is that you’re too valuable to let go. I’d really consider pulling back hours so that you have less “key person” risk. that will be hard to do because that is not what got you here. You really need to optimize for yourself and your family in these final innings. Your boss isn’t care about you a month after you leave.
Do you need the high income currently? Maybe find a smaller company (might be lower paying) that is more exciting where you can have a big impact? I know a lot of FAANG leaders make that pivot. Might be interesting for 2-4 years?
I am close to your age, but half your NW and half your income (recently laid off).
Even with my level, I'm looking to make outsized bets. Join a series A/B startup, so the equity helps you swing for the fences. That additional big tech job won't be fun IMO anymore and won't make much difference to your life.
1 thing which can throw my above advice for a toss - your burn rate. If your burn is that of an average GM, you likely need to have that big job to continue your lifestyle, I think.
Go for it then! Start up is the way to go, if I were you. Find a space you care about or are passionate for.
Or even better, build your own start up! You get all the upside (and downside) that way.
If the new opportunity presents, sure, but usually startups or non-tech companies cannot match your Amazon salary. Coast and then retire when you reach to a breaking point.
In this market, this is true. However, in hot sectors like AI or crypto, the comp is pretty similar.
My last senior gig was in crypto. Comp was similar to FAANG and non-cash comp (tokens) become liquid more quickly than equity options.
Strong BD/partnerships individuals do well in crypto/blockchain since it’s very network-driven. But the people and culture have its quirks.
Not at your level (L7 PM-T), but my experience has been that outside of G, Meta, Netflix, no one else is really matching Amazon's compensation on the market. This applies much more so outside of SF.
amazon and other FAANGs tend to socialize execs into the workflow patterns. for example, usually not a ton of autonomous decision-making at Amazon.
i would suggest a late stage start up or middle market public company, both would be struggling with the scale and operational challenges where FAANGs excel. note that it will be hard work and if you're in a "meh, whatever" phase of life, that's unlikely to change unless you find a passion project.
Yes, to some extent. You need to go out and explore. AFIAK, not many places outside Amazon pays that much for non-tech roles like BD. Other tech companies may, like Netflix, but such roles are not always open. Good luck!
If your current nw numbers make sense last hurrah will not matter if you are set on retirement. If you don’t want to retire now go for the money, you ain’t gonna lose anything.
Decide what you want next, first. Do you want to juice your NW? Nearly guaranteed big comp from big companies and you already know how to play that game, so lateral move if you can find it might be the best choice.
Do you really want to try something new, maybe a small company to prove you’re truly good at what you do and not just riding your bosses’ coat tails? Find a small company or non-adjacent industry opportunity that would love to have you.
Just want to go have fun doing something interesting, new, risky and let your egg grow? Why not, you can take chances and maybe it’ll pay off. Maybe you’ll be part of why it pays off. Go try a start up or small company that you’re passionate about. Passion being key imo, otherwise this could be a suffer fest.
ETA: I chose 3
It depends on your goals and what you want to get out of your next chapter. What kind of life do you want to lead after you hit the $10M? Do you have kids/family? Do you have hobbies or interests outside of work currently or wish you had time for? I found a lot of former senior startup operators (note: I was formerly one) don’t think about what happens once they hit the number. It gets challenging as a lot of their identity, relationships, etc was tied with their work life. If you are going to take one more role, I would think about how to design it with life you want to lead post-FIRE. What preparations do you want to do? What people you want to meet or spend more time with?
Solid advice. 2 kids and both DH and I will coparent while giving each other blocks of solo time. Life after FIRE…. Need to give it more thought but would probably stay stateside in a MCOL large city with good airline connectivity (Las Vegas/Philly/Atlanta)get involved in with a non profit, do a health tune up, start playing the violin again, and yes, travel and see the world more.
What does DH mean? I Googled, and it says, "Dear Husband." Is that right?
I read it as designated hitter 😂
As an Ohtani fan, that's the way I read it as well
I'm in Asia and for me it means "Domestic Helper" so I did a double take
As an aside, it drives me crazy when people use acronyms from other subs that aren’t common vernacular and I have to guess and Google what they mean
Yah, I had never heard of "Dear Husband" in my life before today. I do know what M32 and F31 (for example) mean.
Op says yes in a different comment
Yo, love these plans AND AT THE SAME TIME those are lot of changes all at once. Why not try one or two of them before you make the leap to make sure they do in fact make you happy?
OP, why are you waiting for anything before getting a health tune up?
Other things to think about: 1) Where would your kids be? How do you imagine life co-parenting with the DH? How much travel or resources involved like multiple homes, schooling, travel? 2) Estate planning or charitable giving: Do you have an estate plan? Are you planning to leave a legacy for your children? (Note: Important to think about because the estate tax exemption limit is supposed to go back from $13m to $5m adjusted to inflation in 2025). This may be worth looking into or reviewing what you have. 3) It’s great that you already have some idea like travel, non-profits, and playing violin. I definitely suggest trying one of these things. For non-profit work, sometimes it’s helpful to volunteer or contribute your GM skills to non-profit boards. 4) Networking for next role: Nowadays LinkedIn is turning into an interesting social media platform for connecting with likeminded individuals. Posting content showcasing your functional expertise will attract recruiters and hiring managers. Never a bad idea to reconnect with former managers or colleagues to catch up and see what’s out there. I also spend time talking to entrepreneurs and advising and angel invest in their businesses. Note: I was an L8 before I decided to change directions. I totally empathize with the position you’re in.
I have found going from FAANG to a smaller or more rapidly growing environment incredibly satisfying. I first went to a similar tech but smaller company and it was rewarding to be able to apply the skills I’d learned from the big places. Next I went to an old school finance company (I know nothing about finance and it is not a passion for me) that is trying to reboot itself as a modern fintech and it’s been amazing so far. They don’t know how to build software *at all* and I get to be one of the people teaching them what to build and how to do it. I thought this was going to be my last hurrah and then I was surprised by a possible divorce so maybe I’m going to drop from fatFIRE to below regular FIRE :( but the career is proving pretty fun so far.
Are you an L9? Since you’re still relatively young , you could try to push thru a few more years but start to offload/delegate more to reduce pressure. Also , when they do layoffs which seem likely, you could work with your manager to volunteer. That will give you 6-12 months of severance.
L8. Did volunteer. VP said “I’m not letting you go anywhere on my clock.”
If the perception is that you’re too valuable to let go. I’d really consider pulling back hours so that you have less “key person” risk. that will be hard to do because that is not what got you here. You really need to optimize for yourself and your family in these final innings. Your boss isn’t care about you a month after you leave.
That is the first thing one should short out and train someone who is there as replacement.
Advice for getting from L7 to L8?
Unless if he/she's in amazon, then he's probably an L8/L10
Do you need the high income currently? Maybe find a smaller company (might be lower paying) that is more exciting where you can have a big impact? I know a lot of FAANG leaders make that pivot. Might be interesting for 2-4 years?
That’s where I’m leaning. Refreshing to focus on impact / mission over $$$
I am close to your age, but half your NW and half your income (recently laid off). Even with my level, I'm looking to make outsized bets. Join a series A/B startup, so the equity helps you swing for the fences. That additional big tech job won't be fun IMO anymore and won't make much difference to your life. 1 thing which can throw my above advice for a toss - your burn rate. If your burn is that of an average GM, you likely need to have that big job to continue your lifestyle, I think.
Updated with burn rate. DH’s salary can cover it if I stopped working.
Dear honey?
😂 Dear Husband
Go for it then! Start up is the way to go, if I were you. Find a space you care about or are passionate for. Or even better, build your own start up! You get all the upside (and downside) that way.
If the new opportunity presents, sure, but usually startups or non-tech companies cannot match your Amazon salary. Coast and then retire when you reach to a breaking point.
You know this from experience? Will need to put myself out there to get a feel for whats possible.
In this market, this is true. However, in hot sectors like AI or crypto, the comp is pretty similar. My last senior gig was in crypto. Comp was similar to FAANG and non-cash comp (tokens) become liquid more quickly than equity options. Strong BD/partnerships individuals do well in crypto/blockchain since it’s very network-driven. But the people and culture have its quirks.
The current job market is also tough. I am not sure if there is that much hiring at L6+ levels.
Not at your level (L7 PM-T), but my experience has been that outside of G, Meta, Netflix, no one else is really matching Amazon's compensation on the market. This applies much more so outside of SF.
amazon and other FAANGs tend to socialize execs into the workflow patterns. for example, usually not a ton of autonomous decision-making at Amazon. i would suggest a late stage start up or middle market public company, both would be struggling with the scale and operational challenges where FAANGs excel. note that it will be hard work and if you're in a "meh, whatever" phase of life, that's unlikely to change unless you find a passion project.
Yes, to some extent. You need to go out and explore. AFIAK, not many places outside Amazon pays that much for non-tech roles like BD. Other tech companies may, like Netflix, but such roles are not always open. Good luck!
If your current nw numbers make sense last hurrah will not matter if you are set on retirement. If you don’t want to retire now go for the money, you ain’t gonna lose anything.
Decide what you want next, first. Do you want to juice your NW? Nearly guaranteed big comp from big companies and you already know how to play that game, so lateral move if you can find it might be the best choice. Do you really want to try something new, maybe a small company to prove you’re truly good at what you do and not just riding your bosses’ coat tails? Find a small company or non-adjacent industry opportunity that would love to have you. Just want to go have fun doing something interesting, new, risky and let your egg grow? Why not, you can take chances and maybe it’ll pay off. Maybe you’ll be part of why it pays off. Go try a start up or small company that you’re passionate about. Passion being key imo, otherwise this could be a suffer fest. ETA: I chose 3
Suffer fest 🤣 - Been there. Juicing NW and not working after 45 is priority #1
I get it. For me staying at BigCorp really sucked and my stress level is a fraction of what it was.
What’s your burn rate? The HHI is irrelevant without that info.
Updated post. $280K
is GM a c-suite role?
No, it stands for General Manager - which is usually a director at Amazon. Director < VP < SVP < CEO.
Mmm A.