Recently joined a startup. Asked about options during interview and they said currently there is no options to give out except to new execs. Spoke to my boss about it after I started and he said basically all the options available have been given out and they need to find a way to restructure them. My base salary is good (200K) and the position was exactly what I wanted so the lack of options didn’t really both me. But curious if this is common or weird??
IMO this is better then the company giving you a ton of worthless options that dilutes everyone.
Weird. Which company is this?
Crush it this year and ask for options at your review, you take on risk joining startup and that risk is rewarded with options at most. Heavy exec comp like that shows mismanagement for a number of reasons
what’s your location? In SF, I’ve literally never heard of a startup not offering options to all full employees. I’d be pretty concerned that a company that couldn’t manage its equity pool to offer something as standard as options has other management problems. the ONLY excuse I can think of is some temporary administrative issue, like the company has > 500 shareholders and needs to navigate rule 12 g or the company is in the process of having the board refresh a depleted option pool. Regardless, I’d still expect options within a month or two. take the job if you’re happy with everything else, but this smells fishy to me.
Sounds like this employer decided to pay cash rather than compensating for equity. 200k base is rather high for a startup, that is if the company is really a startup. No equity could mean other things like maybe an acquisition is looking and board decided to hold as much equity as they can and don't care to share their success with their rank and file employees. Paying a high base and 0 to insignificant equity would attract a certain type of employees who prefers cash over risky options, maybe this employer wants just that.
Kinda weird
Not weird if you are an individual consultant, weird if you are a Silicon Valley fte
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Weird for sure