Indeed LTIPs
Does Indeed usually award LTIP refreshers? The official word from my recruiter is that it depends on the board deciding whether or not to do it on a year by year basis. If they do refreshers, how many units relative to your initial grant do you usually receive? Offer from Indeed Austin: L3 150k base 15-17% yearly bonus paid out quarterly 45k units of LTIP @ 3.16ish (variable based off growth) vesting after 3 years 45k signing, 40k and 40k anniversary bonuses at the end of year 1 and 2. Without refreshers the comp definitely drops of after year 3.
Some of those numbers look inflated. I had an offer and was told that target bonus is 13% but Indeed folks mentioned that’s the average across the company. Target is more like 10%. This is for Seattle location. For ltip - from what I gather 3.16 is more on the aggressive side. Few folks I read here think growth is slowing and ~2.50 might be more realistic. As well is this the final offer? I think you can try to ask 45k for both year 1 and year 2 anniversary.
Yeah I'm pretty sure the pitch for LTIP is inflated, especially if the measure is growth which has to hit diminishing returns eventually. Did anyone ever tell you if LTIPs are typically refreshed? Thanks for the insight 😊
I asked but wasn’t told ltip is refreshed. Doesn’t mentioned in the offer letter either. So I assume it’s not guaranteed Past threads on Blind mentioned typically they get new grant based on company performance and yours. What this means as for how closely those new grants match the initial Ltip is beyond me. If someone from Indeed can confirm that would be great.
Wow. These ltips are compounded up to 3 yrs? I mean you are going to get 45k *3 * ~3? After 3 yrs
I don't think so, it's a one time award for now. The tentative offer explicitly calls out that yearly refreshers are a case by case basis. I was just hoping some Indeed folks could share their experience with comp after 3 years.
Honestly surprised if they say you are l3 swe at that offer it is more like the top of l2 bottom of l3 band I'd expect they'd hire you as l2. At least you wouldn't have to go through the horrible level up everyone hates
What is this leveling up issue? Can you expand a little more? Is it the pressure to get promoted?
There was back and forth about leveling but the recruiter pushed for L3. So it sounds like there's room for comp growth? If what you're saying is true then even conservative LTIP estimate puts comp close to 300k after year 3?
From what I hear from my recruiter, you get your performance review every year, and get new grant that can be redeemed 3 years later. Each year, it will be no less than the initial amount you get last year.
You'll get new LTIPs every year, at least 45k LTIPs yearly in your case.
Pitch for LTIP isn’t inflated, sounds accurate actually. Coming directly from CFO & CTO at annual meeting in January. Current LTIPs (2016) paid out in the $3.60 range.
Does everyone’s LTIP value at differ t price or same price?
They have every year so far but waiting 3 years sucks
YOE?