To give some background: Tech / EE Ph.D. Since graduating I was working in Finance. 16 + YOE. Ran own firm for 14 of those. Averaged around 400K - 500K TC in Midwest for the last 14 years. All comp in cash. Recently tried a tech startup but was not getting much traction in funding. Decided to give a hand at tech. Did LI phone interviews a couple of rounds. Got very good performance and was invited to onsite. Interviewed for Senior / Principal. Recruiter called today and said they liked my technical expertise and I came high in all rounds except Leadership and Coding. Coding interview was the last (after 6+ hours) and the interviewer had no idea of what I was talking about. I was solving problem by DP and every step was interrupted by "I don't understand". Anyway the view was I am "slightly" below senior staff and they would like me to be a staff in ML Track or Inference Track in Data Science group. Not sure what to say. They are putting together my comp package. The last job in Finance I had in 2018 is my only reference point. I had 400K comp in cash as guarantee for first year. Again, this is small town mid west. Unfortunately business unit shut down in less than a year, but I still got my 400K. With this in mind, what should I ask for at LI? Counter offer: My ability to make money as self employed as I have done for the majority of my life. Sorry for the long post. Edit: In the last six months turned down a offer with 250K Base + 150K cash guarantee for year 1. Potential for up to 600K TC per year.
Which midwest company pays 500k in cash? What was your title?
Op worked for themselves
Should add: Hedge Fund. I was at a hedge fund, ran my own for 12+ years and then had another brief stint at an NYC based one's Midwest office. In the hedge fund world all comp is cash.
I’m sorry to say but after reading your post, I’m still confused about your comp situation 😲
Like I averaged around 400k - 500K in cash comp. No equity comp. Last job was 400k guaranteed TC (150K base + 250K guaranteed bonus) + potential forunlimited bonus. Business unit shut down after 10 months, but I got my 12 months pay + 250K.
300/350/15% signon-120-150k. Check levels.fyi All the best!
Well that would be for Senior Staff. Per recruiter, I am "slightly" below Staff and hence Staff.
Wouldn't you earn way more keeping running your hedge fund or did you transfer the ownership while keeping some form of dividends/royalties?
For various reasons had to shut down my fund. Current environment is not very conducive for a start-up hedge fund. Working on a tech startup. In the meantime thought I might start looking at tech for a job. Applied to LI in early September, and to my surprise, ended up with an offer. Talking to a few hedge funds as well.
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You'll wanna go for $550K TC with $250K of that being base.
That's per year right? So shoot for 250K base, say 50K bonus (just to make calculations easier) and remaining 250K in stocks? (That would be 1 Million vesting over 4 years?)