Argo AI offer Evaluation
Recently got an offer from Argo AI for a Software Engineer 2 (L4) with the mapping team in the Bay Area. The recruiter said that the team had great feedback and I could have been L5, but they are adamant on L4. Initial Offer: Base: 175k Annual Bonus: 15% Equity: 400k / 4yrs (based on a projected 20B valuation, however current valuation is 12.5B) TC: ~300K Current TC 200K. How much and what all can I negotiate on? Also, any opinions on WLB with the mapping team? #tech #bayarea #argoai #evaluation #mapping team
Negotiate. 190k-200k base is possible and ask for 30k joining bonus too. Many at L4 got that deal
Do you know the max tc they offer if I have competing offers for other AV companies ? Do they match the offers ?
Mapping team WLB is good
what are the other offers?
Nvidia, Nuro, Lucid!
The equity is currently priced at about $50/share but this does not account for the recent market correction/50%+ drop in AV stocks. You need to compare the equity grant at around $25/share with other companies.
Mind if I dm you ?
I don't mind at all. I'll try to help.
My advice: ask for the fair market price and current valuation it is based off to the recruiter. They may say 12.4B which was true at one point but is certainly not today. If the shares are roughly $50 at 12.4B valuation each per the recruiter and you get 10,000 shares, it would have been a $500k grant before AV stocks went down by 50% but it's $250k now, not whatever the recruiter says it's worth at 20B. Look at other AV stocks. If you can't get true current valuation, ask when the valuation used for setting the price of the shares was last determined. The recruiter might try to avoid answering these questions directly but do not stop asking until you have an answer.
The fair market price is tied to the last 409A. Argo isn’t going to make up some valuation based on the public market.
Ok, but what a new hire gets today must somehow be tied to current reality. The point is to get a realistic CURRENT estimate of the equity grant. If you think Argo is currently worth 8b, ask what the shares are worth at that.
What is the number of units for 400k, did you ask the recruiter
I think you took the job I was interviewing for :/