SpaceX offer
Was part of 5G modem product team. Received the offer for Sr Engineer position from SpaceX. 4 YOE after PhD. Redmond office. 145k base + 250k company equity. Was told 30-60k bonus every year based on performance. Of course no 401k match at SpaceX. Current TC in Oregon ~180k with cash bonus plus RSU/years for vesting. Thoughts ? Can I negotiate?
Tell us about 5G mind control
I wouldn’t take it
Take it, it couldn't be worse than Intel. The stock steadily increases in value, but don't count on annual bonuses, these are part of the false advertising.
False advertising? So there are only raises and no performance bonuses ?
Raises are 1-2%. The bonuses are nothing like the number you quoted and are not guaranteed at all. Don't get me wrong - it's a good offer (for SpaceX) but you shouldn't count on bonuses
You can negotiate a small sign on bonus at best.
I tried a bit, didn't push. Have another better offer from FAANG to decide on.
Are there typically any bonuses at SpaceX?
They have spot bonus which are a few hundred dollars. Then there's kick ass bonuses which are a thousand up to 5k (so I'm told) this one is then disbursed across 5 years. These bonuses are both hard to get.
Personally, I feel that equity will go a long way. Do they refresh stock annually or some other cadence? Would be good to see how you can get more equity in the future. Base is a little low but I think you join for the experience and the equity.
They do buybacks twice a year typically. More equity is through performance bonuses and through SPP (15% at a discount).
Buy backs used to be twice a year but has dropped to less than once a year.