My friend is currently negotiating with Airbnb and Google. Airbnb’s soft numbers are around 500k TC (225k in cash and the rest in equity). I believe the level for Airbnb would be somewhere around t5-t6 at Google (will ask friend to clarify with the recruiter). The Google offer would be for t5. Google is still getting numbers together. Im wondering how to weigh Airbnb’s stock vs USD (google stock). Some other posts I’ve seen have said things like 0.8 FB offer == 1 Slack offer IE Slack equity is worth 80 cents on the dollar. What do you think Airbnb’s equity should be valued at vs cash?
Airbnb
I usually put a multipler on stock for the risk you are willing to take and the time you are willing to wait. AirBnb is a late startup with solids numbers. It will go IPO but more sure when. I would say put 1.6x-1.8 multiplier on your Google RSU. Remember cash is king and you can buy a house now which might be 1.4x by the time it goes IPO.
Don’t you already work at Google?
I do, but my friend who is not on blind does not
That sounds like L6 Airbnb. I would seriously doubt that Google can approach that - I would expect somewhere in the 300s from G. This is a gamble, but to pull out ahead with G assuming 300s, Airbnb will either have to crash and burn, or he’d have to use his <100k after-tax equity in an investment that would return pretty dramatic results. But the likelier outcome is that Airbnb rises further... the people that have been here for a while are sitting quite well right now.
Ahh so I can attest that google will go that high if you negotiate very skillfully! Say Google offered you 500k (half salary and half equity) and Airbnb did the same.. which would you pick?
Then I would think Google wins in the comp department, as liquid equity should always be considered more valuable than non-liquid. However, if it’s close, then I’d just pick whichever I was more excited about.
t5 not likely got 500k at Google do not daydream
This 500k is above median L6. Google can find a ton of L5 folks who would be more than happy to work very hard for 350k.
I did this recently and these numbers are familiar to me. My TC is 510k at Airbnb. Hired in as an L5, recently became L6. I got an offer from Google leveled at T5 recently with base 190k, 15% bonus target, and stock 550k vested monthly over 4 years. So about 357k TC. Didn’t negotiate because I decided to take another offer somewhere between Google and Airbnb’s TC.
Points worth mentioning: - More than 50% of the Airbnb TC is paper money with unknown liquidity timeline. Whereas, Google is all cash. - No cash bonus at Airbnb, just equity refreshers - Google’s benefits are worth slightly more, if that matters - Airbnb has basically one product
Even if your Airbnb offer is L6 and Google match the number with T5. I would say Airbnb L6 is probably a better choice since L6 refresher is much higher than T5. In long run, it’s going to make significant difference. And it’s unlikely Google will match 500k TC at T5 level. One thing you should do is double check position level with Airbnb recruiter.
Google typically uses equity aggressively to match, since they level and hence give base conservatively. Let recruiter know and see what they’ll do. They likely will devalue the illiquid equity by 10-20%.
Levels plz
Doh, Just updated the post :)
Might be helpful to look at - https://www.levels.fyi/?compare=Airbnb,Google&track=Software%20Engineer