The startup I work for recently brought on two rounds of layoffs, cutting the team from about 35 down to 5. This was a result of overconfidence in the product and overstaffing to keep up with growth projections. I have ultimate confidence that the company and product will be a success, now that we have brought on a new CTO and are doing complete rewrite of the codebase (with all the knowledge of where we failed in the past). However, it's a tough road ahead and the existing team is having to pick up 3x the work now. How do you go about renegotiating salaries and/or making a play for equity in the company? Our President has made references to shares being set aside for those who "stick it out" - but I caution on the side of wanting something more formal than a handshake agreement.
Get an offer elsewhere and use as leverage. If you’re coming off a round of layoffs, they might let you go if you ask for more - but if you have an offer, you won’t be out on your ass AND your current employer knows that you have external validation
What % equity did you get and what’s your vesting period like? Give more info so we can provide a better advice.
fairly useful resource for understanding equity compensation -> https://withcompound.com/equity
Thank you! This is great info.
Definitely get something in writing. See this play out poorly too many times.
Couldn't agree more - I guess the question now is, "how?". I'm more interested in the idea of equity, rather than a bump in salary (which would probably be out of the question at this point).