Adyen is a company with €500K/year revenue per employee and €314K/year profit per employee.
They have a 63% profit margin, making €630M EBITDA on revenues of €1B.
And they complain of "young companies with deep pockets" paying developers a lot more than they do in NL.
They have a 63% profit margin, making €630M EBITDA on revenues of €1B.
And they complain of "young companies with deep pockets" paying developers a lot more than they do in NL.
https://twitter.com/thijsniks/status/1492015827746377731
Adyen business is at Netflix, Google, and Mastercard levels of profitability. It's a money-printing machine.
But instead of paying for software engineers like these companies do, they try to hire the same skillset, but at a steep discount and are surprised it's hard to do so.
But instead of paying for software engineers like these companies do, they try to hire the same skillset, but at a steep discount and are surprised it's hard to do so.
Sources on Adyen's numbers:
2021 H1: 61% EBIDTA adyen.com/press-and-medi…
2021 H2: 64% EBIDTA cnbc.com/2022/02/09/ady…
We're talking about a company that could triple pay for all its staff of only 2,000 people and still be protitable.
Instead of complaining... follow the market?
2021 H1: 61% EBIDTA adyen.com/press-and-medi…
2021 H2: 64% EBIDTA cnbc.com/2022/02/09/ady…
We're talking about a company that could triple pay for all its staff of only 2,000 people and still be protitable.
Instead of complaining... follow the market?
A little more context on why the Adyen CEO is "inconvenienced":
I'm told that in 2021, Adyen hired more than 100 software engineers. Yet their engineering headcount only increased by 4, versus the start of the year.
Despite the hiring, they were (are) bleeding engineers.
I'm told that in 2021, Adyen hired more than 100 software engineers. Yet their engineering headcount only increased by 4, versus the start of the year.
Despite the hiring, they were (are) bleeding engineers.
To put Adyen’s incredible profitability in context: they had a 63% EBIDTA-margin in 2021.
Netflix: 63%
Meta: ~45%
Google: ~35%.
They are one of the most profitable companies in the world - similar to Netflix -, and yet complaining how expensive hiring software engineers are.
Netflix: 63%
Meta: ~45%
Google: ~35%.
They are one of the most profitable companies in the world - similar to Netflix -, and yet complaining how expensive hiring software engineers are.
An interesting question: why would an experienced and good CEO publicly blame the hot market to hire software engineers within The Financial Times?
A likely explanation: it’s a message to investors, preparing a large raise for tech within the company to respond to this market.
A likely explanation: it’s a message to investors, preparing a large raise for tech within the company to respond to this market.
https://twitter.com/thijsniks/status/1492015827746377731
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