Currently an L5 SWE at Instacart, possibly up for promotion in a few months. Hired at 360k TC, tho that’s now closer to 270K (210 base, 60 paper equity) after a mix of 70% drop in valuation and raise/refresher. Expected 2023 TC is closer to 260K cash (base + bonuses) + ~110K in paper equity. Debating whether to join Square / Cash App in a similar role at L5, with a 350k TC. Liquid stock, quarterly vest from day one, possibly good entry point given depressed markets. I’m a bit bored of my current work at IC, unsure if/when we’ll ever IPO and looking forward to some new challenges at SQ. I’m also unsure if I want to double down on the company or if it’s smarter to diversify by accruing equity in another company. Also excited for a little break between jobs. On the other hand, I think IC will rebound one day, generally like the people and worry I’m walking away from a promotion and more money long term by leaving now. What should I do? #instacart #square #cashapp #jobs #tech
How many yoe ?
5+
Square L5 or L6?
L5
You will be making a lateral move, mostly a down level if you are close to a promotion. Unless you are not happy at IC I would suggest waiting for a year and then moving to L6. Square hires 5 yoe L6 all the time.
Is instacart IPO coming soon? I’ve heard whispers of this
we planned to IPO in 2022 but market is garbage so at this point delayed indefinitely / until “we have a window”
Ahh I see. I guess the window won’t be for several more months assuming things stabilize relatively quickly. I suppose then it’s better to take the offer and bounce.
SQ has significantly higher upside than instacart, do not overthink this one ……
Square l5 scope is pretty low, it’s closer to high l4 at most other companies
Are all levels - 1 compared to other companies
how long is average time to L6? if i bust my ass is it possible in a year?
How much equity are you giving up by walking away? Instacart seems not to be all paper money
It is the paperest of paper. Can't even sell on the secondary market - the company blocks it
Square sub-70 a share is an awesome time to join. Instacart is going nowhere. Amazon will slowly kill them by burning hundreds of millions to undercut them and squeeze them out.
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how much of 270K is liquid?
210k this year. closer to 250k liquid next year—retention bonus