Sumo Logic equity evaluation

Cloudera SinkOrSwim
Jul 30 16 Comments

Got initial offer as SWE. Base $180k which is lower than my base 3 years ago(😜) and equity of 25k options over 4 years and 10% annual bonus(lower than current 15%). They won’t tell me % equity, strike price. So that’s concerning.

Based on internet searches current value is $16 FMV - $8 strike price = $8/share which equates to $200k over 4 years.

To be honest, $200k/year equity is the number I’m aiming for, so this is 1/4th 🤦‍♂️.

Recruiter got a shock when I said 80k-100k options based on math above.

Sumo Logic employees any input in equity being offered? How do refreshers look like? How is the company doing?

Current TC:~$300k
YOE:10

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TOP 16 Comments
  • Dell Boomi / Other
    gandalfhan

    Dell Boomi Other

    PRE
    Oracle
    gandalfhanmore
    I dont think sumologic is a great company. I had some folks come over from there and never had anything good to say about the company.
    Jul 30 3
    • Cloudera SinkOrSwim
      OP
      Engineers or others?
      Jul 30
    • Dell Boomi / Other
      gandalfhan

      Dell Boomi Other

      PRE
      Oracle
      gandalfhanmore
      Non-engineers, mostly sales folks who have good sense of how the company is doing financially
      Jul 30
    • Cloudera SinkOrSwim
      OP
      Thanks!
      Jul 30
  • Uber / Mgmt eggplant’
    It’s a red flag that they won’t tell you equity percentage or strike price. It signals they think they can fool you.
    Jul 30 1
  • Sumo Logic / Eng sm0
    Run as fast and as away as you can . $16 is very optimistic FMV it will be more close to $12. This is a no brainer.
    Jul 30 6
    • Cloudera SinkOrSwim
      OP
      Thanks for tip. Can you elaborate on the engineering culture?
      Jul 30
    • Sumo Logic / Eng sm0
      Mixed bag . Some people really like it while others not so . Many employees have left recently . WLB is good though there is on call but ymmv. Lack of innovations and slow moving product. Smart engineers but also lack senior leadership so they over value themselves .
      Jul 30
    • Sumo Logic neOQ05
      Some employees do get refreshers, but you're getting lowballed at 180 base with 10 years exp. I don't think the equity is worth it, it doesn't look like we're going to ipo anytime soon due to recent round of funding.
      Jul 31
    • Sumo Logic / Eng sm0
      @neOQ05 refreshers are not granted every year like Google , Fb, or Apple . Infact there is no standard on this .
      Jul 31
    • Cloudera SinkOrSwim
      OP
      Figured current FMV is ~$11. Even factoring in some growth that’s pretty low option grant of 25k over 4 years. Recruiter simply dismisses my math I stated above even with $16/18, so at this point I’m not sure whether it’s worth negotiating....
      Aug 1
  • Facebook S4MEER
    Check out rubrik if u haven’t
    Jul 30 0
  • SolarWinds AnEngineer
    If it's an across the board TC decrease, which you seem to be implying, then why are you even asking?
    Jul 30 0
  • Cloudera SinkOrSwim
    OP
    I thought company had good prospects and hence interviewed. But seems like they can’t match comp offered by bigger players in the market in Bay Area.
    Jul 30 0