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Base 180K options 30k (valuation 400k), 20% vest schedule for 5 years Current TC 165K YOE 7 I heard good thing about Gusto but my knowledge about options are limited. I am not a SDE but application engineer Feedback please ?
What is application engineer?
Who is more comfortable writing code in one language or has expertise in one tool. Like Salesforce developer who know apex
7 yoe should map to 400+ TC, my <2 yoe offer at gusto was low-ball as well
Might be biased but that equity still has at least 3x growth to go -- so this might be $1.2m. Again, I'm biased, but I wouldn't be here of I didn't think that was going to happen.
Looks like it’s already 900k now
What does it mean for options to be 30k but the valuation to be 400? Is 30k the strike price?
TC at a pre-IPO startup is not easily comparable to that of a post-IPO public company. The cash is stable, the equity is worth anywhere from -$1000s (if you buy options before ipo) to 10x or more what they quote as current value. Decide based on cash and your appetite for waiting to see what the TC comes out to. The way options work: You are granted 30k options for a single guaranteed price which is lower than the price other investors would have to pay and lower than what you assume the stock will be worth eventually. Over time you vest the *option* to *purchase* these shares. You can do it now (but if the company goes belly up you lose the money) or you can do it after IPO as long as you work for the company still. Then only after IPO can you sell for whatever the public price is. If the gap between what you pay and what you sell for is huge, big win. If not, you could’ve done better elsewhere. Opportunity lost. If you exercise options before IPO there’s a tax benefit but also a risk that the shares actually lose value. All depend how well you build the business and when/whether you IPO. Beware of somewhere like Ancestry.com - they’ve done like 5 false starts on their IPO and may never go public. All those shares are worthless unless they get out there or the company buys them back to at least breakeven.
Lowball