Verizon Software Engineer Salary: Insider Look at Pay & Benefits
Uncover Verizon Software Engineer Pay and Perks. Explore salaries, benefits, and the company's unique work environment.
6 min read
21 Aug, 2023
As one of the leading telecommunications giants, Verizon stands at the forefront of innovation and technology.
Within this dynamic powerhouse, its software engineers play a pivotal role in driving progress and ensuring the seamless functioning of modern communication systems.
Join us as we delve into the Verizon Software Engineer's Salaries, offering an insider's perspective on their compensation packages and the accompanying benefits.
Verizon Software Engineer Salary by Level
At Verizon, the salary for a Software Engineer varies significantly based on the level of the position. The detailed breakdown of the salary by level is as follows:
|Level||Level name||Total Compensation||Base Salary||Stock (/yr)||Bonus|
|MTS 1||Entry Level||$97K||$95K||$125||$1K|
|MTS 2||Associate Level||$110K||$101K||$5K||$3K|
|SMTS 4||Senior Level||$157K||$130K||$8K||$20K|
|PMTS 4||Principal Level||$171K||$149K||$8K||$14K|
|DMTS 4||Distinguished Level||$239K||$190K||$12K||$38K|
MTS 1 (Entry Level)
The entry-level position, MTS 1, offers a total compensation package of $97K. This includes a base salary of $95K, $125 in stocks per year, and an annual bonus of $1K.
MTS 2 (Associate Level)
The Associate Level position, MTS 2, has a higher total compensation of $110K. The base salary is $101K, with an additional $5K in yearly stocks and a $4K bonus.
MTS 3 (Mid-Level)
MTS 3, the Mid-Level position, offers a total compensation of $103K. The base salary is $92K, with an additional $3K in yearly stocks and a generous $9K bonus.
The MTS 4 level position provides the compensation package with a total of $146K. It includes a base salary of $127K, $6K in stocks per year, and an impressive $13K bonus.
SMTS (Senior Level)
The SMTS (Senior Level) is offered a compensation package totaling $157K, consisting of a $130K base salary, $8K in annual stock grants, and an impressive $20K bonus.
PMTS (Principal Level)
The PMTS role at the Principal Level receives a compensation package totaling $171K, comprising a $ 149K base salary, $8K in annual stock grants, and an impressive $14K bonus.
The DMTS position provides the highest compensation package among all the levels, totaling $239K. It includes a base salary of $190K, $12K in stocks per year, and an impressive $38K bonus.
Verizon Software Engineer Salary Progression
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1. Entry-level MTS 1 to MTS 2
From an entry-level MTS 1 position to MTS 2, there is a salary bump of $13K. In this transition, a software engineer's responsibilities typically expand to include more complex coding tasks and team collaboration.
2. MTS 2 to MTS 3
Progressing from MTS 2 to MTS 3, there is a slight decrease in salary to $103K. However, this role often involves more autonomy in software development and greater engagement in strategic decisions.
3. MTS 3 to MTS 4
Moving from MTS 3 to MTS 4 comes with a substantial salary increase of $43K. The MTS 4 role demands leadership in high-stakes projects and mentoring junior engineers.
4. MTS 4 to SMTS
The leap from MTS 4 to SMTS comes with a substantial salary increase of $11K. This role involves responsibility for senior technical leadership, project management, and innovation within their domain.
5. SMTS to PMTS
Progression from SMTS to PMTS comes with a substantial salary increase of $14K. The SMTS engineer leads advanced technical projects and contributes to the company's technical strategy and product development.
6. PMTS to DMTS
The transition from PMTS to DMTS comes with a substantial salary increase of $68K. You are a top technical authority in this role, shaping the long-term technical direction and driving innovation across the organization.
Salary Variations Across Verizon Locations
Verizon operates in numerous locations, and the 'Verizon Software Engineer Salary' has been observed to fluctuate across these regions understandably. Here's a brief overview:
|Location||Average Base Salary|
|Los Angeles, CA||$165K|
|San Francisco, CA||$155K|
|Salt Lake City, UT||$131K|
|New York, NY||$128K|
|San Diego, CA||$110K|
Source: Interview Query
However, it's important to remember that salary numbers can differ, which is a general overview. It's advisable to conduct thorough research, taking into account factors such as cost of living, employees-focused benefits, and other considerations when assessing job prospects in various areas.
Top Benefits at Verizon
Verizon offers a comprehensive suite of benefits to its software engineers. These aim to enhance employee well-being, increase productivity, promote a work-life balance, and boost professional development.
- Remote Work - Verizon allows employees to work remotely for up to 3 days a week, a transition that has now been embraced by 90% of the workforce (source: Levels.fyi).
- Parental Leave - The firm provides 8 weeks of paternity leave and 16 weeks of maternity leave.
- 401k - A retirement savings plan is available and actively offered by the employer.
- Health Insurance - Employees can access comprehensive health coverage.
- Educational Opportunities - The company supports continuous learning and development, including tuition reimbursement for further studies.
- Employee Assistance Program - This is designed to help employees navigate personal or work-related challenges.
- Insurances - Verizon provides various insurances, from life, dental, and vision to accidental death and dismemberment (AD&D) insurance.
- Company Phones - Employees are given company phones, a perk that aligns with its position as a leading telecommunications provider.
- Employee Discount - Verizon offers exceptional discounts for employees.
- Paid Time Off (PTO) - Employees are granted numerous vacation and personal days.
All these benefits contribute to Verizon's reputation as an employer that values its employees' well-being.
Verizon's Working Culture
|Department||Work Life Balance||Happiness||Culture Score|
Verizon's working culture varies across different departments. The product and design departments enjoy an excellent work-life balance, scoring a 'B' in the category. While employees in these departments are generally happy, the culture scores reflect room for improvement.
On the other hand, engineering has a lower work-life balance but a higher happiness rating, suggesting that while the workload might be heavier, the work environment sustains employee morale.
Marketing, operations, and sales departments have a similar work-life balance, suggesting a consistent culture across these departments. However, the happiness rating and culture score hint at differences in job satisfaction and departmental culture.
Verizon's work culture generally offers a balanced mix of work and life integration and a sense of fulfillment and satisfaction.
Frequently Asked Questions
Q1. How much do Software Engineers make at Verizon?
Software Engineers at Verizon earn a varying amount depending on their level. An entry-level engineer (MTS 1) makes an average total of $97K annually, while a DMTS level 7 engineer makes as much as $239K annually.
Q2. What is the average salary at Verizon?
Verizon offers competitive salaries for its software engineers. The average salary Is $146K for the level 4 Software Engineer (MTS 4).
Q3. What is the highest salary offered as a Software Engineer at Verizon?
The highest compensation offered as a Software Engineer at Verizon is $239K annually for the DMTS 7 level.
Q4. What are the most common skills required as a Software Engineer at Verizon?
As a global leader in the information technology and services sector, Verizon requires its software engineers to be proficient in a variety of skills, including but not limited to problem-solving, programming in various languages, understanding of data structures and algorithms, and ability to work as part of a team.
Q5. How much does an entry-level Software Engineer make at Verizon?
An entry-level Software Engineer (MTS 1) at Verizon can expect to earn a total compensation of $97K annually.
At Verizon, software engineers receive competitive salaries and a comprehensive benefits package. The company prides itself on maintaining an excellent work-life balance for its employees.
Whether you're looking for a rewarding career in software engineering or want to compare your compensation with other industry leaders, 4 Day Week is your trusted resource.
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