I'm also at Meta and worked at two non-FAANG fortune 500s before this (5 YOE total). The performance anxiety at the two previous companies was nowhere close. Performance reviews were done mostly by managers and the stakes were much lower. Best case scenario, you get maybe a 10% raise. PIP was unlikely unless you're just grossly incompetent or not trying.
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I'm also at Meta and worked at two non-FAANG fortune 500s before this (5 YOE total). The performance anxiety at the two previous companies was nowhere close. Performance reviews were done mostly by managers and the stakes were much lower. Best case scenario, you get maybe a 10% raise. PIP was unlikely unless you're just grossly incompetent or not trying.