Lucid Motors Offer
Hello Blind Community, I am new to this and would like to hear your suggestions on this topic. I am currently working in Michigan with a base of 85k (bonus and raise are given separate) and recently received an offer from Lucid for 140k (relocation and sign-on separate) in Newark. The role is slightly better in terms of learning. For anyone who is aware of the true cost of living, do you think this would be a step up in terms of compensation and also how stable the company is? I am also considering starting a family in 2 years, so not sure if this would be the right switch at this time. #lucidmotors #tesla #rivianautomotive #ford #google #zoox #offer #amazon
90k in michigan is better than 140k in cali. I turned down offer of 210k in cali last year.
May I ask your TC at the point you turned down the offer?
140k
Are you a mechanical engineer? Ignoring purchasing a house in bay area for a moment, 140k in California will lead to more savings or worst case same as 90k in Michigan. Other than this 140k,you are getting the stock options which could be worth a lot.
Yes I have a mechanical engineering background but have been working with software for at-least 2 years now. Yes I only have option to buy the stocks at a Market Value they haven’t told me yet. Just curious, how long have you been with Lucid?
I also moved from MI to Bay Area and went from 85k to 140k base. Can confirm your quality of life in terms of how much house you can afford will be better in MI. Newark is cheaper but very shitty area imo. It’s like living in Taylor or Romulus MI. Mid peninsula is much nicer (Sunnyvale, MV, or Palo Alto) but also ridiculously expensive and you’ll probably only be able to live in a 1 bd apartment there (2.5k - 3.5k/month). Having said all that don’t regret making the move for one second. Look at it as a stepping stone to much higher TC in a few years. I jumped quickly from 140k to 194k base now. Add bonus and equity on top of that and you should be able to crack 300k TC in a few years.
Thanks a lot for sharing this information. I was really torn between staying out or moving to a startup.
This is the right way to look at this opportunity. What will you get 5 years down the line? I moved from Midwest years ago from 75K to 110K. Now TC is 10 times.
TC? Depends where you stay near Newark. Closer to NYC is more expensive than away from it.
140k base and option to buy 6k stock at a Market Value that they haven't mentioned to me yet. In Fremont. I am currently at a TC of close to 90k. This is Newark in California.
Whats your YOE and role Magna?