Unveiling PayPal Software Engineer Salary: What You Could Earn
Discover PayPal Software Engineer salaries, benefits, work culture & more. A comprehensive guide to boost your career in tech!
9 min read
10 Oct, 2023
PayPal, renowned for its secure and user-friendly online payment solutions, is a beacon in the fintech industry. Not only does it offer convenience to millions of users worldwide, but it also fosters a work culture that is both innovative and rewarding.
This article delves into the specifics of the salaries, benefits, and work environment that make PayPal an attractive destination for top engineering talent.
PayPal Software Engineer Salary by Level
Interested in knowing how much PayPal software engineers earn? Here is a detailed breakdown of the salary at each level. The data was sourced from Levels.fyi.
|Level||Level Name||Total Compensation||Base Salary||Stock (/yr)||Bonus|
|T22||Software Engineer I||$116K||$101K||$9K||$6K|
|T23||Software Engineer II||$149K||$121K||$21K||$7K|
|T24||Senior Software Engineer||$205K||$161K||$38K||$7K|
|T25||Staff Software Engineer 1||$221K||$165K||$45K||$12K|
|T26||Staff Software Engineer 2||$302K||$203K||$83K||$17K|
|T27||Senior Staff Software Engineer||$373K||$222K||$115K||$36K|
|T28||Principal Software Engineer||$516K||$229K||$232K||$56K|
T22 - Software Engineer I
At level T22, the position is typically entry-level, suitable for individuals right out of college. The total compensation is $119K, with a base salary of $104K. The remaining settlement consists of $8K in stock per year and a $6K annual bonus.
T23 - Software Engineer II
As a Software Engineer II at PayPal, you can expect an increase in pay as you gain more skills and experience. At level T23, the total compensation is $149K, which includes a base salary of $121K, $21K in stocks per year, and a $6K annual bonus.
T24 - Senior Software Engineer
At level T24, you would be a Senior Software Engineer with significant responsibilities. The total compensation for this position is $201K, with a base salary of $162K. The balance comprises $33K in stocks annually and a $5K bonus annually.
T25 - Staff Software Engineer 1
At level T25, you'd be a Staff Software Engineer 1. The total compensation for this position is higher at $221K. This includes a base salary of $164K, $45K in stocks per year and a $12K annual bonus.
T26 - Staff Software Engineer 2
The total compensation for this role is an impressive $302K, with a substantial base salary of $203K. Stock options contribute another $83K annually, and an annual bonus of $17K rounds out the package.
T27 - Senior Staff Software Engineer
As a Senior Staff Software Engineer at the T27 level, the total compensation skyrockets to $373K, which includes a base salary of $222K. In addition, you'd receive $115K in stock per year, along with a hefty annual bonus of $36K.
Would you like a 4 day work week?
T28 - Principal Software Engineer
The total compensation for this role is a staggering $516K. The base salary is $229K, with a massive $232K yearly stock options and an annual bonus of $56K.
Career Progression and Salary Increases at PayPal
A career at PayPal offers substantial room for growth and advancement in responsibilities and salary. Let's take a closer look at the progression of roles within the software engineering department:
- Software Engineer I to Software Engineer II: This promotion sees a rise from a $119K total compensation to $149K. Stepping up from an entry-level role, a Software Engineer II is expected to have more independence and take on more complex tasks.
- Software Engineer II to Senior Software Engineer: Moving up to this level comes with a significant pay increase, with a total compensation of $201K. The Senior Software Engineer is responsible for leading projects and mentoring junior engineers.
- Senior Software Engineer to Staff Software Engineer 1: As a Staff Engineer, one can expect to earn $221K. Individuals at this level are key team decision-makers and are expected to influence strategic direction.
- Staff Software Engineer 1 to Staff Software Engineer 2: Climbing up to this level results in a substantial salary bump to $302K in total compensation. You are expected to take on larger, more impactful projects and may even oversee junior engineers.
- Staff Software Engineer 2 to Senior Staff Software Engineer: Another significant leap of $373K occurs when advancing to the Senior Staff Software Engineer role. At this level, you'll likely be involved in critical decision-making processes and could be responsible for a whole team or department.
- Senior Staff Software Engineer to Principal Software Engineer: The Principal Software Engineer role is accompanied by a significant compensation package of $516K. This role usually involves higher-order responsibilities such as setting architectural guidelines, steering high-level strategy, and potentially influencing company-wide initiatives.
PayPal Salary Variation by Location
Navigating the landscape of software engineering salaries can be complex, with various factors like geographic location, experience, and job title affecting compensation.
PayPal is no exception, offering various salaries across different regions. The table below outlines the average base salaries for PayPal Software Engineers based on location.
|Location||Average Base Salary|
|Los Angeles, CA||$168K|
|New York, NY||$147K|
|San Francisco, CA||$146K|
Source: Interview Query
PayPal also offers remote jobs. However, salaries for these positions can vary widely, depending on the engineer's location and level of expertise.
Top 10 Benefits at PayPal
When it comes to benefits, PayPal stands out among tech companies. Here are the ten most appealing features of their benefits package, as listed on Levels.fyi:
- Employee Stock Purchase Program (ESPP): Contribute up to 10% of your base salary. You'll receive a 15% discount on the purchase price of PayPal stock.
- Relocation Bonus: A generous bonus of $10,000 to help engineers get settled in their new location.
- Fertility Assistance: Unique to PayPal, they offer Egg Freezing for employees looking at family planning options.
- 401k Match: PayPal matches 100% of the first 4% of your base salary up to $19,500. That's a significant boost to your retirement savings.
- Maternity Leave: 4 months of paid leave, ensuring new mothers can spend time with their newborns without worrying about their income.
- Learning and Development: PayPal supports continuous learning. They offer a range of programs and tools for skill and knowledge enhancement.
- Tuition Reimbursement: They offer a generous annual tuition reimbursement of $5000.
- Sabbatical: Employees can take paid sabbaticals After a specific service period.
- Transport Allowance: Commuting becomes more comfortable with PayPal's transport allowance benefit.
- Unlimited PTO: Employees are granted unlimited paid time off, a rare benefit that enhances work-life balance.
PayPal: An Insight into its Vibrant Culture and Work-Life Balance
Every software engineer values a balanced work-life experience. At PayPal, every department exhibits a distinct culture that impacts its employees' happiness and work-life balance.
Here's what their department-wise breakdown looks like:
|Department||Work-Life Balance||Happiness||Culture Score|
Departments such as Design and Sales score high on all fronts, indicating a harmonious balance between work and personal life.
On the other hand, departments like Product and Marketing have lower work-life balance scores. Despite scoring a solid 'A' on happiness, Marketing has the lowest work-life balance score ('F'), suggesting that while the work might be rewarding and enjoyable, it could be demanding on personal time.
These variations highlight the diversity in experiences across different roles within PayPal.
Frequently Asked Questions
Q. How much do Software Engineers make at PayPal?
PayPal offers a competitive pay scale for software engineers. For a Software Engineer I, the total compensation averages around $116K. This increases as you move up the ladder, with a Principal Software Engineer earning approximately $516K.
Q. What is the average salary at PayPal?
The average wage at PayPal varies depending on the job title and experience level. However, for software engineers, it can range from $116K for an entry-level role to $516K for a more senior position.
Q. What is the highest salary for a Software Engineer at PayPal?
Within the Software Engineering career track at PayPal, the highest salary is offered to the role of Principal Software Engineer, which amounts to a total compensation of $516K.
Q. What are the most common skills required as a Software Engineer at PayPal?
Software Engineers at PayPal need diverse skills, including proficiency in coding languages such as Java or Python, knowledge of databases, understanding of e-commerce and payment systems, and familiarity with enterprise software and mobile commerce.
Q. How much does an entry-level Software Engineer make at PayPal?
An entry-level Software Engineer (Software Engineer I) at PayPal has a total compensation of around $116K, comprising a base salary of $101K, $9K stock, and a $6K bonus.
The PayPal Software Engineer salary package is competitive and enticing. Alongside the attractive salaries, the employee-centric benefits and work culture make PayPal an excellent place to build a career in software engineering.
If you're searching for a fulfilling software engineering career or wish to see how your pay stacks up to others in the field, 4dayweek.io is your go-to source.
Take a look at our open job positions to discover the ideal fit for your skill set, or delve into our detailed salary guide to gather crucial information on the remuneration packages provided by different firms.