Help me choose
Cushy Unicorn job - L6 - TC ~$500k or Launch startup with cofounder - CTO - raising $1M at $5M valuation - Salary $150K + half the pre money shares
EV is 0.01x5M for startup, which is 50K total. If you expect to break even in 3-4 years, the chances of success must be close to 0.5.
If you think the startup will do well and exif eventually IPO... otherwise no brainer I’d always get a cushy job. TC matters.
If your net worth is just 250k, then build up some more net worth before you rush into startups.
+1
Low net worth ➡️ need more TC ➡️ cushy 500k.
Your NW is not nearly high enough to justify giving up 500k TC...honestly with your TC and net worth so low you must have an insane burn rate/financial obligations that would make living with 150 TC untenable
My burn is around $100. I just left a startup job where I was getting $200 + stock options.
Gratz on the jump to 500 then, that’s awesome. I’d stack NW for a few years esp. if you can maintain 100 burn rate
Raising at 1-5M valuation is basically a small seed round these days
If you have to ask, then you shouldn't do the founder role. Take the 500k
The startup might payoff in a few years, but will it make you enough to cover the loss of your salary with increases (and unicorn stock appreciation) and 401k appreciation over those years? Also, work might be more gruelling at the startup for all those years, meaning less time with kids and family and vacations, if that is important to you. It might very well be 6,8, or even 10 years before you see a decent exit. On the flip side, even a failed startup is a great learning experience. You will learn about running a real business in a way that nothing else can teach you. that might help with your next gig ( which might be back to being an IC, mind you) If only were an easy decision, eh?
YoE, (liquid) NW?
16, $250k
How the hell do you have 16 years experience and making $500k, but only have $250k networth? Take the cush job