Snapchat Is Paying College Grads Almost $500,000 to Work There

More and more social networking

By Nicholas Carlson

For the past two years Snapchat has been making huge job offers to students at Stanford and other top engineering schools.

This year it's offering seniors and finishing graduate students salaries between $100,000 and $150,000, and $300,000 in stock grants that vest over four years. (That's down from last year, when Snapchat would offer students $400,000 in stock.)

Any Stanford student who accepted one of those 2014 offers is, in all likelihood, already a millionaire on paper. The company's valuation has multiplied since then. In the fall of 2013, Snapchat turned down an offer to sell to Facebook for $3 billion. Last summer, it raised almost $500 million at a $10 billion valuation. This year, it raised another $200 million at a $15 billion valuation.