Facebook or Lyft - Offer Eval

Google eurythmics
Apr 25, 2018 44 Comments

Hey folks,

I have an offer from Facebook and from Lyft, and I’m mulling over which one to choose. Any input, particularly on comp, is appreciated!

Basics:
Current role: L4 SW Eng in Test. Promoted to last year.

6.5 years of experience, all large companies. All SET, nothing as SWE.

Role at both FB and L is SWE L4. That’s great, I wanted to make the switch!

L’s project is interesting and while I don’t know FB’s project until after boot camp, it’s likely I will be able to find interesting work.

WLB can suffer just a little for a little bit until I get to L5. Commute situation will be about the same.

FB:
160k base/ 300k equity/ 75k sign on. Target bonus 10%. No cliff, vests quarterly.

L:
180k base/ 400k equity/ 25k sign on. No bonus, 1 year cliff.

Questions:
1. How is the FB offer, they said I was an upper E4 based on interview performance and that that’s the maximum offer for E4.

2. I ought to be asking more equity from L since it’s currently ‘paper money’, what would be a reasonable ask?
L doesn’t have refreshers until after year 2, though I heard you can get some before if you are a top performer.

ty!

*** UPDATE ****
L upped their offer, but they said they have maxed at 480. I still think it’s LOW. Basically 20k a year. Sigh.

comments

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TOP 44 Comments
  • Dropbox / Sales H hychcc
    Why is this a question ? FB. Lyft needs to offer 800K equity to make it worth it especially since no refresh
    Apr 25, 2018 8
    • Google eurythmics
      OP
      Thanks all, these are great points. Yea, lockup wealthfront blog says it could be about a year from initial IPO filing , if any at all, and being able to sell stock.
      Apr 26, 2018
    • Google eurythmics
      OP
      @JlkU, just to make sure I follow the mechanics of this, at end of year 1, both FB and Lyft will have vested 25%, albeit FB will be vesting quarterly. And the end of the 2y, both will have vested at 50%. Did I miss something? Granted Lyft’s amount needs to def compensate for refreshers + uncertainty!
      Apr 26, 2018
    • Google eurythmics
      OP
      Thanks for the clarification. In Lyft’s case IIUC vesting schedule begins they nearest upcoming fixed quarter date. The 1 year cliff means you vest 25% after 1 year has elapsed. And then it’s quarterly for the remaining years. You are always fully vested after 4 years. Just that during year 1 you don’t get anything.
      Apr 26, 2018
    • Square / Eng SQ
      That's correct, a 1 year cliff means that you are accruing your equity/rsu, but you aren't given it until your 1 year anniversary date. After that you transition to monthly or quarterly.

      The calculations for Lyft are slightly off. If Lyft doesn't gain any more value before an IPO then the offers are about the same (since fb refreshers will catch you up). Ones guaranteed and one isn't though. If Lyft was double Facebook then that's where it's worth consideration.
      Apr 26, 2018
    • Intel assertNull
      +1 on this comment. Lyft offer shouldn’t be comparable but significantly better to make sense (%40-50 better TC) in your level if no refresh.
      May 4, 2018
  • Google / Eng
    J32dfQ

    Google Eng

    PRE
    Facebook
    J32dfQmore
    Lyft doesn’t have refresher also whereas fb has yearly refreshers. You need to factor that into your decision. Over 4 years this can easily be 100k difference.

    Also, to think of it, my goog PhD new grad (l4) offer in 2010 was 127k$ base with 180k$ of rsus. Times have changed.
    Apr 25, 2018 4
    • Google eurythmics
      OP
      Indeed! There’s quite a bit of cash flowing in the bay, let’s get while it lasts.
      Apr 25, 2018
    • Google eurythmics
      OP
      @J32dfQ good point about refreshers, thanks for pointing it out + the data.
      Apr 26, 2018
  • Tesla LLcs58
    How was your interview preparation? How many leetcode?
    Apr 25, 2018 1
    • Google eurythmics
      OP
      Algorithms course + lots of medium + as many hard as you have the time. Largely mediums though.
      Apr 25, 2018
  • Google Techmeme
    FB made 5B in profit out of 11B revenue. To give you context, google made around 7B in profit over 32B in revenue. So which company would u like to join? One that can easily keep paying you more every year or one that loses money and may never make nasty money like FB. I think for most people the decision is simple.
    Apr 25, 2018 2
    • Google eurythmics
      OP
      This is a great analogy! Appreciate the data!
      Apr 25, 2018
    • Google Oshs6214hs
      But Google’s business is more diverse vs FB. They spend more money in other PAs. If you have one cash cow and don’t invest in other areas, that doesn’t mean you are better than company that spends a lot in other areas.
      Apr 27, 2018
  • Google eurythmics
    OP
    Thanks all for the responses so far. I agree that Lyft‘s offer needs to go higher. I think another way to phrase my question would be, what does the offer from L need to look like to even begin to compete with the FB offer.
    Apr 25, 2018 1
    • Lyft / Eng JSBG53
      shoot for 600k in stock, +10k in salary.

      this means ask for 800k in stock and +20k in salary. tell the recruiter that if they can offer you this, they can give you a 12 hour expiring offer (to assure them you won't just go and try to leverage this offer against FB)

      you won't be disappointed with either, but with Lyft you're joining a company that will have twice as many employees in 1.5 years. there's a lot more room to make an impact here.
      Apr 26, 2018
  • Lyft / Eng RIP Dave K
    Facebook for sure
    Apr 26, 2018 0
  • Vevo battle
    That FB offer is top range E4, they won't go higher. I got 160/300/100 base/stocks/sign-on

    Choose FB!
    Apr 26, 2018 4
    • eBay stephens
      Was that their initial offer?
      Apr 26, 2018
    • Google eurythmics
      OP
      Thanks! I’ll try to get 100 sign on as well 🤣
      Apr 26, 2018
    • Vevo battle
      DM me if you choose FB and planning to start soon
      Apr 27, 2018
    • Google eurythmics
      OP
      battle,could you share basic details? How many years of experience? Competing offers?
      Apr 29, 2018
  • Lyft Spagaro
    You should be able to get $600k in RSUs from Lyft. At that value, I would choose the Lyft offer over Facebook.

    Currently it's a close call but I'd lean Facebook if you're only comparing comp. In general I think Lyft's business is way more interesting than FB, but I'm biased.
    Apr 26, 2018 0
  • Intuit NK1An42
    I had 2 years experience and got the same offer from lyft. Slightly lower base, slightly higher stock.

    Go with what's publicly tradeable, imo. So FB.
    Apr 26, 2018 4
    • Google eurythmics
      OP
      Are you open to sharing your offer? And the maybe the year you join?
      Apr 26, 2018
    • Intuit NK1An42
      Like 10k less base, 10k more shares (in $). So over 4 years, still 40k less, since that smaller base would add up.
      Apr 26, 2018
    • Intuit NK1An42
      But also I'm a SWE, not a SET. So maybe it isn't apples to apples.
      Apr 26, 2018
    • Google eurythmics
      OP
      Thanks for sharing, yeah, my experience has been as SET, not sure if they decided to factor that in. Oh well.
      Apr 26, 2018
  • Facebook ImUu18
    Lyft offer is weak in comparison, I would tell them to double the equity.
    Apr 26, 2018 0
  • Facebook ,
    The FB offer is pretty much top of range for E4. You might be able to get $100k sign on.
    Apr 26, 2018 0
  • Amazon ofhnsjsn
    I thought every company had cliff
    Apr 25, 2018 3
    • Amazon / Eng bw&6vzhs
      FNG don’t
      Apr 25, 2018
    • Google Westfield
      N doesn't give RSUs I heard.
      Apr 25, 2018
    • Square / Eng SQ
      You get I think 10% salary then you can convert your salary to stock if you wish.
      Apr 25, 2018
  • Cisco gvvka
    QE or development ?
    SWE roles in QE are salaries less for them then development salaries ?
    Typically how less 20% less or 30% less ?
    to get an idea
    Jul 5, 2018 0
  • Expedia / Product mrmouse
    Can someone explain cliffs and refreshes? And how the math works with each company over the vesting period?

    I'm not following how FB might win out over long run? How long to vest full equity offering? E.g. is the FB $300/16 each quarter and allowed to sell immediately? How would Lyft's model work?
    May 25, 2018 0
  • Intel assertNull
    Other than compensation, FB after Google will double authenticate your resume. You are probably in 20s so taking that path might open doors for better wealth in long term ;) Please inform us if your negotiations went well.
    May 4, 2018 0
  • Tinder / Eng
    meowimacat

    Tinder Eng

    PRE
    Microsoft
    BIO
    Im a cat! Meow 🐈
    meowimacatmore
    How was the difficulty of lyfts interview?
    Apr 27, 2018 0
  • Google eurythmics
    OP
    *Promoted to L4 last year
    Apr 25, 2018 0