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!
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.
160k base/ 300k equity/ 75k sign on. Target bonus 10%. No cliff, vests quarterly.
180k base/ 400k equity/ 25k sign on. No bonus, 1 year cliff.
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.
*** UPDATE ****
L upped their offer, but they said they have maxed at 480. I still think it’s LOW. Basically 20k a year. Sigh.
- Dropbox / Sales H hychccWhy is this a question ? FB. Lyft needs to offer 800K equity to make it worth it especially since no refresh
- @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!
- 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.
- 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 3
- Google / Eng J32dfQmoreLyft 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.
- Google TechmemeFB 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.
- 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.
- Lyft / Eng JSBG53shoot 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 4
- That FB offer is top range E4, they won't go higher. I got 160/300/100 base/stocks/sign-on
- Lyft SpagaroYou 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.
- 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.
- Expedia / Product mrmouseCan 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?