Currently at PayPal and not enjoying my work at all and neither motivated. The working style, support available etc is just not according to what I am use to. I also am finding it very difficult to onboard and learn given that most of the people who knew stuff have left. I joined 6 months ago. Stocks have dropped by 55% putting a serious dent in my total comp. Got an offer from a company who just closed a 13m series A a week ago. They are offering me a salary slightly lower than original paypal comp but all cash. Paypal original was 240k with 155k being base Startup all cash is 235k Paypal current is 200k with stock depreciation. I had made my mind regarding leaving but current market conditions are scaring the shit out of me. Also the fact that this startup has been around since 2016 raising seed money but only raised series A now after 6 years. Any advice? TC: 240k yoe: 6 Non-swe tech role
Yes and also that startup feels sketch. Find a better offer
This is the perfect time to join a high TC public company whose stock has not tanked that much or a private company which has been able to raise a big round in the current environment. Everything else is a crapshoot.
What would be a big round for series A? 15m a week ago won’t count right?
That is too low. 15 won’t last more than a few months (if they hire good people). Too risky I think.
This downturn will wipe out lots of fintech companies, but few will not only survive but emerge stronger. Happens in every downturns which wipes out weaker players. PayPal and Sqaure will definitely be the ones to emerge stronger from all this. PayPal stock will surpass previous highs, might take a few years. I wouldn't bet on startups unless you are financially independent and hence are risk averse.
Stay wherever you are and watch for next 6 months.
Stay wherever you are and don't change. It's a risky market right now.
Get another offer
Agree with others. But please be cautious with PP as well. People are not expected to spend in the coming quarters so if you are in business unit that is costing paypal money you’ll be on the chopping block.
Stay put
Is it because mature companies might be in a better position to survive this downturn?
That and when layoffs start, it’s last in first out