Is this good offer for San Francisco?
I have got the following offer from a Pre IPO firm but over 10 years in market. Role: Senior software engineer Base: 170k Relocation: upto 10k based on expenses Sign in bonus (in lieu of relocation) : 10k Annual bonus: upto 10% Options: 5000 over 4 years. 25% per annum. Strike price: not sure Discretionary time off (supposedly unlimited) 401k : 100% match for first 3% employee contribution after one year. 50% for next 2%. I am currently single (no dependents) in Chicagoland area in Senior software engineer role in 120k-125k band. I have about 5 years of total work experience with 3.5 years in current company. Is this offer in accordance with the compensation market for bay area? Will it be wise move to move to bay area with this package? How much can I negotiate with this? I am courting with one other company (financial, NY) and expecting an offer in couple of days. Looking forward for guidance from experienced people here.
170k base is good. Startups dont give that base
Can u pm me name of the company
That's a great offer. You should definitely take it
Let me apply!
Recruiter not knowing the value/%/strike price of their shares is a huge red flag to me... but other than that its a good offer.
My offer from SF start up was 132 base with 3000 options and 10k sign on no bonus. For senior android dev. Took offer with T-Mobile.
How much difference was it with Tmobile? Location was SF?
The position was remote, but they HQ in SF. TMO offer was 125k base, $10k stock per year (plus Elmo purchase options) w/ 3 year vesting, and up to 15% bonus per year. $6k signing bonus. IMO options are worthless until IPO. TL;DR; it was less base but larger total package.
All I can say is I wouldn't leave my $130k salary in Texas for $170k in San Francisco unless the options were worth at least six figures. The base seems ok, but the big question is the equity.
That's the point that is making it tough for me. 120k in Chicago is already equivalent to around 180K in SF (and that's considering its lateral transition and no increment).But then Stock options and future opportunities come into picture too.
One thing I suggest is negotiate to get more shares, maybe if you can go down on salary & get more shares instead it's a good option. Assuming this is a legit company going to IPO near the future.
Lot of startups do this kind of shit regd stocks, including my current one(not indeed). I'd probe further and ask manager or cto or whoever instead of recruiter.
I have asked recruiter for now. If response is not positive than will connect with someone else. Thanks for the suggestion.
"Options: 5000 over 4 years Strike price: not sure" How could anyone evaluate this without knowing what the options are worth? (And why on earth haven't you asked?)
I asked the recruiter and he said maybe around $10. But not sure so can't confirm. I am trying to get that information.
Do you know the % of the company it represents?