I am asking for my partner who has an offer from Nextdoor and who just doesn't have the time to post on Blind themselves. Current TC: ~220k base, ~200k refreshers, ~40k yearly bonus, YOE: 7 They have an offer for a staff level IC role from Nextdoor. Offer: ~240k base, signon ~50k, equity 340000$ per year. (edited equity to keep things simple) The offer works out to about 580k in TC per year. From reading the other offers over the last several months, this looks like a much lower offer overall and definitely option count wise (34000 options). Examples: https://www.teamblind.com/post/Nextdoor-offer-Opinions-7jLpYipw https://www.teamblind.com/post/Nextdoor-offer-w0GmRsRS The team at Nextdoor seemed nice and the technical challenges look very interesting. It isn't clear how much impact one could have though. It would be great if some of the Nextdoor folks could help with their thoughts: 1) Not sure how to think about the offer since it doesn't seem like there is much upside compared to say an offer one could get from any of the biggies for an equivalent staff level role. 2) What is the company's policy on remote work? Recruiters and hiring managers have been vague. 3) What is the ~ total engineering count at the company? 4) How is the company doing outside of the US in international markets? What % growth is expected from outside the US in 2021? Recruiter and hiring manager say great things but also want to hear a balanced view from folks here. 5) How do refreshers work? Can you get 250k in refreshers/year for a staff position? 6) How many staff level engineers exist at the company? #nextdoor #engineering #offer
$10 strike price means you earn the diff between $10 and $40?
Yes
34k options/year is totally worth it. That's at the $2b valuation from a couple years ago. Secondary market is already trading at 4x that valuation at around $40. L5 is staff, and in comparison L4 folks are receiving ~5-8k options/year. There's not too many details on L5 salaries unfortunately.
It's not 34k options per year ,it's 34k across 4 years :). Going by the range you are seeing for existing L4 folks, offer seems lukewarm. How is the company doing outside of the US in international markets? Would you have insight?
International markets is actually exceeding expectations in terms of both user growth, and revenue. With plans to expand to more countries every year, it seems promising.
It's better of what I have seen or heard via grapevine for 7 YOE. Make sure your partner can keep up with the companys pace and output. I heard they fire non performers very quickly.
Wondering how you are calculating the options $ value? The Nextdoor option is worth ~$20, so your partner will make 20*8500=$170,000 per year, right? And $110,500 if you deduct the strike price cost, correct? Am I missing something?
Read other comments and realized that you’re calculating the option value at $40. But their last funding happened at $20, shouldn’t the TC be calculated using $20 option value then?
How? From the reply, the option is not a lot. Mostly recruiters selling high value of the options.
I am not sure I follow. If the equity value is at $40, how are they giving you equity at $10 strike? Recruiter seems full of BS - I would probe further on that angle on how recruiter is valuing equity at $40.
They are offering options. Per the recruiter the stock has last traded at about 40$ on secondary markets.
Your looking more at 272k on equity, 40 public - strike