Recently got an offer from Lyft for the T5 role. After negotations, here is is offer breakdown: First year TC: 415k (30k sign on) Second year onwards: 385k (because of no sign on) I am actually happy with this offer, but I have seen people reporting much higher numbers here, so wanted to know if this offer is above or below average. Also, I am on my H1-B visa, but still interested in this offer for 2 reasons. 1) my jonining date is after 3 months from now, so I have some time to see where the market is heading to and then decide. 2) The work and team I will be part at Lyft is very interesting and Lyft TC is ~2x my current TC. Given I have been preparing for interviews from quite some time, I am confident I can get a decent job in a couple of months if something worse happens. Do you think its worth taking this risk. How are things looking inside? Help much appreciated! YOE: 5.5
Top of band is 430k with a 20k sign on on top of that. If you 2x your TC, it might be worth the risk.
Yes, I am starting to feel the same way as well. I like the work and it’s a good TC. Also, the the new comp structure looks very attractive to me, so good in long term.
OP what’s your total years of experience.
Updated the post!
Yoe Op?
Updated now!
Go for it .
Yup, thinking the same, but my only worry is if there would be next round of lay offs. I spoke to Lyft CTO last week and he said they honestly don’t have any talks around that, but in some of the recent blind posts, few of them said otherwise. Don’t know who to trust. May be, just wait and time will decide?!
Since you are already prepared you can get it . I know couple of people in friend circle got job in month after lay off they week in h1b .
How is the joining date 3 months from now? H1b transfers these days are happening in a month. Is the team there playing a wait and watch strategy to see how the company does in the next few months before getting you in the team ?
It was the time when transfers were taking 2-3 months, I spoke to my HM and we have come to this date. But, in general I said to my HM I need some flexibility in the joining date and can only join in August. He was okay with it! I think this varies from HM to HM!
H1b transfers take time.... Op can delay that further by sending documents late whenever requested
Wow nice offer - My god maybe from now once people are out of college they should get 500k
Haha, it’s been more than 4.5 years I came out of my grad school, if you meant that to me. But yeah, who know this could be a reality too in future.
Even when your visa transfer is done and you being there in the 1st day, you are not safe. I would accept if they add a severance clauses to the offer. Even if you said yes, take those 3 months to keep looking for another companies.
Of course, I wouldn’t count the severance money to my bank. I feel in 3 months, I can probably find an other job (I have already done 450+ LC), but again I might be over confident about myself, I don’t know.
Their stock is quite low right now. Do you anticipate their stock price will go up? When it goes up, that TC can be a lot more.
Capped at 1 year stocks appreciation given their new comp structure. It resets RSUs at the beginning of year.
Yes, it’s capped for 1 year. But IMO that concept is great, especially given the Lyft stock price might not appreciate very much in the near future.
I would take the risk for 2x TC. Even if they lay off after 6 months, you have 6 months extra salary + severance.
Yeah, this is the worst case calculation I was thinking too.
Do you really want to join Lyft this year? 1) the offer is ok. It’s good. But, like you said, not exceptional. 2) Lyft, uber, Airbnb.. on h1b.. well.. I suppose people are adventurous. TC is not even the issue here. Joining Lyft on h1b at this time. Think about it.
First things first. I’m no way joining Lyft WITHOUT the H1 transfer being done. My HM seems totally okay with that. Next, if I decide to join, and in the worst case, if there was an other lay off soon and I was affected, I am pretty confident I can get a job with TC greater than my current TC in 2 months. But in the best case, things look very bright if market starts recovering and there will be no 2nd round of layoffs. So, I honestly don’t know how much risk I am taking here.
This year. All bets are off. Covid, racism protests, election.. lined up back to back. But I guess YOLO.