Confused between 2 offers - workday vs coupang.
I have an offer from workday for a Cloud Software Engineer P3, and Senior Cloud Engineer at Coupang. 125k base/130k stock over 4years /20 sign on / RSU Refresh at Workday. 140k base/10000 pre-ipo options (@$1.95 present)/10k sign on/10% annual bonus. Expected IPO in 2020. Work is similar in both the companies and I like both the teams. Any suggestions or advices guys? Growth and pay are important to me. I'm not sure if I will stay in any company for more than 2 years but at least for now no.
Both packages are very close on cash/liquid stock. The options do have some value, but you have a very small number so it’s not going to be big upside. I’d still take the faster growing company because it’s going to be better for career growth.
Do you think I can negotiate more with any one to have edge over the other? If so, what's your look?
Maybe but you’re focusing on the wrong thing. Pick the better career path. Of course ask one offer to match the other. The $1.95 share price is likely a Preferred share price in which case Fair Market Value (409A) is 20-25% of that. It’s just a lottery ticket
Total comp look pretty close. We are still growing pretty fast but still slightly risky vs public companies. Depending on teams, there may be communication issues so see if your team will be pretty independent of hq.
This team is not independent of HQ. Could you tell me when exactly IPO is targetted? And how well is the yearly increase given?
Don't really know the exact target for Ipo. Probably at a stage where we need another round of big funding (softbank was 3 yrs ago) so that will last 2~3 years then hopefully Ipo. Not sure about yearly increase yet. Will find out when ratings are released next month.
Tell workday you have another 140k offer and ask them to match. Might be hard to budge on other numbers. Also a p3 and my grant is similar to yours.
Thanks, I signed offer with workday and coupang came in a week later. Do you think Workday will still be willing to negotiate? Also about RSU Refresh can you throw some light on that? What is the vesting for refresh and %. The recruiter says the rsu refresh vesting depends in what manager decides and not fixed.? TIA
If you already accepted you won’t have much leeway unless you want to risk burning bridges. Need to Time your interviews and offers better next time. I only joined recently but I’m told 90% if employees get a refresh. The amount is a percentage of your initial grant. Not sure what the average is
If you're thinking about long term growth, Workday should win hands down. The refresh program alone will have your total comp grow significantly each year. ISOs at the other company will be worthless for many years, and then after that no guarantee they become anything.
Makes sense, thanks mate. I wanna get clarification on RSU Refresh. Can u throw some light - like % and vest period.
Biased here, clearly. That said, but everyone is pre-ipo....and very few actual ipo happening. Workday stock is real cash, with a stock price that keeps going up. Just food for thought. On a related note, I love working here :)
Awesome mate. Can you throw some light on RSU Refresh and its vesting?
Agree with that sentiment. It takes a lot to IPO these days. Unless they already have their public CFO today, and already running board meetings like a public company, and are already $50M+ growing 75-100%, there is no chance of a 2020 IPO.
Makes sense.. tq
If you're on immigration visa, workday is better choice. Every startup is pre-ipo when they want to hire you.
What is RSU refresh?
Instead of cash bonus, based on ur performance they give a % of your base as RSU at the end of each year. This would be added to your existing RSU vesting schedule.
Average RSU annual refresh will be at or slightly lower than half of the standard initial grant for that level. In your case it would likely be 50-60k.
Thanks much. Could you tell me what's the vesting period for RSU refresh and also how much hike can I expect in base salary every year?
4 years with 1 year cliff. Base salary hike depends on whether you get promoted or not, if not probably 3-4%. It depends on your performance and the team of course. YMMV.
Take one with higher package