FB Offer Eval - Lowballed?
From Etsy to FB (Bay Area) Role is product designer. YOE 9 TC at Etsy 255: 170/55/30 Facebook IC5 offer breakdown: 180 base 45 RSU (180 over 4 years) 25 sign in bonus Problem is, this doesn’t cover for the current 220k of equity at Etsy. What do you think??
He should definitely get the equity covered, signing bonus is too small. They should buy him out or at least start vesting at join.
“He”
Is the start vesting at join part negotiable?
I'm in a similar position, FB doesn't want to cover equity. What a f***ing waste of time
Sorry to hear. It’s frustrating, after a seemingly great interview and hiring manager pushing him to be hired ASAP, I don’t understand how this is even possible. Do they really think that ppl move just for the name of the company?
damn apes, again, a waste of time
How many YOE
9!!! Also checking on levels.fyi this offer is crap
What location?
Bay Area
What's so bad about etsy?
Management and growth opportunities in my team
But he could still change team internally
You ask for remote option? So FB is a definite no?
How can he accept an offer in which he loses money? (Current job can be improved, money would be a big factor for change here)
And no, didn’t ask for remote option. Talking about working in Menlo Park, Bay Area, the most expensive place on Earth (not sure this is true but you get the point)
Weigh other things like management, type of work, maybe it may be good to get competing offers too in your case.
Are to gauge type of work and management at faangs. Seems like a gamble
We thought FB would be able to give more than the current unvested RSUs, but if that’s not the case, internal move in Etsy itself seems like the way to go!
I’ve not heard of ‘covering equity’ - unvested RSUs are not really something you’re entitled to be covered in a new offer, it’s just another grant of RSUs to weigh up against what you have and any competing offers? Obviously if you’re interested to leave before your RSUs have vested then FB knows they have some appeal over staying put and waiting for those RSUs. I just see it as the FB offer here being not very compelling compared to the current TC. Sorry if I’m missing something, genuinely curious about the notion of covering unvested RSUs.
I never ever heard of anybody that was offered less than they currently had. Especially when there’s clear data about the strength of the employee (can’t share too much, but please bare with me) Maybe as an engineer it’s different, but whenever someone moves to another company I always only heard about offers that would cover any non vested stock, plus a % on top of that. Otherwise, the offer is simply not attractive. Probably I only heard about the positive outcomes and ppl don’t like to share when they get lowballed, but to me this offer seems utterly offensive TBH
Oh it happens for sure (happened to me recently!). When a company has a lot of interest in people applying they don’t need to care too much about offending anyone. I think you’re right in that a happy path for moving to a new company usually includes a nice new RSU grant that effectively does compensate for anything left on the table at the company you’re leaving. I just hadn’t heard/thought about this as explicitly called out as covering any unvested equity you might have called out, but rather factored into your new target TC, vs current TC.
Numbers are already up after first round of negotiation. I find ridiculous that FB is not willing to cover for current equity. It would mean losing a full year worth of RSU bonus if he leaves now. However, we need to understand what are the refreshers like at FB in order to have a full pic
Same thing happened to me. I don’t know if many companies cover for existing equity. I took a slight pay cut in equity when I accepted my FB offer, but FB stock has grown since then and my TC at FB is now higher than at my last company. L5 offers caps out at a certain amount at FB as well, and what you see at levels.fyi might not account for stock growth.
6153 can you share what real FB refreshers are, however?