Interviewing for Lyft non-tech Director position, I was told that they are moving away from spreading the RSU grant from the typical 4-year model to a 1-yr model. Has anyone heard a similar narrative from a recent interaction with Lyft HR? What would be the incentive for people to stay if they paid out all RSUs in the first year? Maybe I am missing something #lyft
You are paid only for one year but quarterly. Every year you get a fresh grant. So if you want to quit within a year, you get based on the quarters you have been with the company.
What’s the new Tc? Based on your above comment it looks like it is 300k? Isn’t that less even for a non tech director?
Yep 300k TC is what I was told. I am not sure if its low or high or at par. They are on a cash conservation mode
Did they give you a sense of how refreshers will work then? Similarly: ~100k all vesting that year?
Eff Lyft. Hopefully other tech companies don't go this route
You don't have to worry about 1yr vs 4yr grant. Instead of saying 400k for 4yrs... They are giving 100k and after appraisal, you will get 100k for next year (minimum of new hire grant as per policy)...this goes on. So you don't need to worry about not getting rsu in second year but you may loose upside
Recruiter ghosting me
Tell me about it Lyft recruiters are the worst
Sounds like a low-ball offer for that level
All new offers from Lyft are for annual grants.
I was told $190-200k base + $100k in RSUs that would vest over 1 year. Does this sound reasonable? Why are they paying out all of the $100k in 1 year instead of spreading out over 4 years? Or am I being offered only 1/4th of a typical Director level of $400k RSU grant that would be spread over 4 years?
Latter, you are being offered 1/4th