I am severely burned out and depressed by my current job situation, so I hope I could get some wise advice.
I have 8yoe and I was an early employee at a startup that is growing quite well. As a result, my compensation is significantly high due to valuation increase, and I am currently sitting at ~800k TC (250k base + 550k equity), based on the last valuation. The equity part is currently illiquid, but the company has been doing periodic buybacks considering the late stage of the company (Series E) and the bullish stance of management (they are shooting at 2X-4X the current valuation in the next 3 years). I have personally taken advantage of the buyback opportunities for some of my shares, and they bought them at the price on which I based the 800k calculation (this is for all the folks who'll mention common vs preferred, my calculation is based on common buyback price).
I have a lot of already vested and exercised stock options because I've been here a few years, so if I leave I have my lottery ticket. Still, every month I vest new equity up to the ~800k/y mentioned above, and this grant is going happen for the next 3 years.
The problem is, I hate this job, as the startup grew (we are in a very boring enterprise business) a lot of crappy management and engineers have been brought on board (since it doesn't pay that well for people who are getting new grants, so the best folks go to FAANG), I despise everything and everyone basically. I start getting heavy depression on Sunday thinking about the work week, and on Monday I'm spending my morning writing this on Blind rather than working. It's awful and also eating in my personal life (lots of fights with my partner due to my bad mental state and negativity).
I interviewed at FAANG recently and haven't been able to get a similarly high compensation, the maximum I've been offered is in the 400k range (FB E5, Google L4, Netflix senior engineer, specifically).
Do you think it would be wise to forfeit that much TC with the goal of a new work environment with better challenges?
Net Worth: ~1.5M (all in Vanguard)
Maybe it’s because you may not have prior FAANG experience? I know a guy with 5 YOE but G and some unicorn experience, plus top CS school, who got 400k offers from F, U, L, and Airbnb.
I’d say keep interviewing until you crack 500k+ which is at the high end, but I think possible for your YOE. (Also depends on how well you perform in the interview.) Your existing offers aren’t running away anytime soon.
Either way — 400k at FAANG isn’t bad. Think of the long-term growth opportunities there. You could probably get promoted and be making 500k+ and 600k+ as you rise the ranks.