How do you assess multiple offers? (And reneg)
Hi blind community, I’ve received two offers at the moment and am not sure how to decide between the two. Offer 1: Global Strategy & Operations @ Series B startup focused on micromobility > TC: 88k + Options (15k, with 4-year vesting) > Series B funding round was $105m AUD > Have signed contract here > Pretty intense hours (hypothesis) Offer 2: Product Strategy @ Ed Tech > TC: 130k > 9am-6pm hours on average There’s a considerable pay difference between the two, and the roles are the same title - Senior Associate Offer 1 will be much more fast paced and ‘in the weeds’, but a true startup experience(?). A lot of ex-Uber pre-IPO folks in the business Offer 2 is in industry, but the calibre of the people is quite impressive — ex-McKinsey, Cambridge, Ivy schools Both appeal to two different people, but I am unsure on what factors to consider when deciding. I’ve signed Offer 1 (received it a week before), and so reneging is on the cards. Bit worried about burning the bridge as Offer 1’s hiring manager is someone who referred me. Questions: A) How do you assess multiple offers? B) Is there a way to reneg without burning bridges? Or at least ‘peacefully’? C) Thoughts on being part of an early-stage startup? Are there questions I should ask myself? All figures in AUD. Current TC: 100K YOE: 2 TLDR; confused between two offers, unsure how to reneg an offer, still trying to understand if a startup is where I want to be right now #help #pls
Are both offers for NA? Don’t go to Z, pick offer 2. Micromobility is very capital intensive and with rates going up I don’t expect nice times ahead for the industry
As a seperate question — I’m wondering what the trajectory is for people wanting to go from product strategy into product management?
What’s stage is Ed tech? And what’s the equity offer
It’s a proper company, operating for the last 10 years. No equity — they are 80% owned by a pretty prominent tech firm (think of it as one of Alphabets subsidiaries)
I’m currently at an early stage startup as well and while it’s fun there’s a couple things to consider contract wise. I’m anticipating a series A fund raising round of $50+ million, $100 on the high end. I currently have $50k vesting over 4 years. Considering dilution, the next few rounds, companies that could acquire us, and the potential for an IPO, I don’t believe I would get anything more than $500k out of an exit(considering we ever exit at $1B) With that being said if a company that raised $100m for a series B only offers you $15k of stock options then I personally don’t see how that’s worth it, it’s going to be a lot more work for likely less money than you will get taking Offer 2. Unless they IPO then that changes the projections a bit as options will be more volatile(if it’s a company people are interested in). anyhoo, the chances of $15k worth of equity from a company at a *somewhat* diluted stage becoming something substantial are relatively low. For example a 20x on that is $300,000. You don’t know how long until they IPO. For the time and effort commitment idk if that’s worth it over just taking Offer 2 tbh
and I have no insight about reneging an offer sorry :(
Hey! This reply is gold. Thank you for sharing it. I have a few questions and hoping you could help clarify it as I haven’t fully understand the value of options in my case. Below: A. 15k options is based on a current 250mil valuation. I’m a little green in understanding these things… but what’s the potential upside if they hit $1bn? What about if it’s $10bn? B. I personally don’t see myself being there for 4+ years. Definitely for the next 2, but unsure about the 4. A lot of the people are ex-Uber pre-IPO and we’re part of the IPO too, so they may know what they are doing here? Just an assumption C. How’s WLB for you?