Offer review - Would you give up half your salary to work on something you love?
Please help me make this decision, I feel like it should be easy but I'm having a hard time. I have $0 in the bank. I have a side business which I'm passionate about, but it barely makes money, so I have to find a job. I'm considering two offers. 1. A startup I'm really interested in. The people seem great, the WLB seems great, no on-call, unlimited vacay. And the best part is it's related to my side business: ML + audio + modern coding languages. I'd have the chance to lead exciting projects, and the opportunity for growth is enormous. - $150k base + 10% annual bonus - $10k options - post-tax, I'd make $100k in the first year. 2. Stripe (L2). I'd be working full-stack using 75% Java and 25% TypeScript. I get to experience working with a bigger business and seeing how their backends work. I get to add a prestigious company to my resume. I get to work with super smart people. And at the end of the day, I'm sure I'll still find ways to grow. - $190k base + 10% annual bonus - $50k bonus (vests after 1yr) - $125k RSUs yearly - relocating me to a no-income-tax state in the USA (I live in Canada) - post-tax, I'd make $185k in the first year, and that's not even considering the RSUs. Am I stupid for even considering option 1? What would you do? TC: 0 YOE: 3 #stripe
Are you single and ~25? Definitely go with startup
Indeed single and 25. I really want to, but I feel like an idiot for rejecting so much money.
How early startup is option 1?
Not too early, they've got at least a hundred employees; they've raised about ~35m over the past two years, and they're planning on doing a Series E this year.
Series D and 35mm isn't top class op. I would stay away. The equity will probably be worth close to nothing.
Easily I'd go with stripe and cash the money... THEN go work in a startup that might collapse (after the recession)
Good point about the recession, damn.
Spend that 100k and buy a house in the Midwest... Just to have... And there you go... You can do ANYTHING you want after that basically
If you were to keep doing this choice for the rest of your life, every year choosing between the two, and 80 years from now, reflecting on your choices, how would you feel?
I think it depends entirely on how things go at the company. If I choose Stripe and hate it, I'll regret it. If I choose the startup and don't love it, I'll regret it.
What if you choose stripe and you like it? Would you regret not having tried the start-up? What about the opposite? You choose the start-up and you love it. Will you regret receiving half the money you know you could get somewhere?
Startup may be related to your side business but anything you work on the side could still become startup intellectual property. Check any moonlighting policies at the startup. I've seen most don't allow side gigs unless it's something completely different like pyramid scheme amway or Mary Kay cosmetics or something. Also, be careful with unlimited vacation. It just means you don't get paid anything if you quit because you didn't accrue any time off. Go to Stripe. Do your side gig. Learn how backends work. Learn from smart people. Save some money. Then think about going on your own. You're still young. You'll need money to make money.
This should be the top answer OP considers. Any outside work related to the industry you perform, your startup can claim any and all IP or work you created. Working for stripe not only gives him over 100k more a year AND allows him to work on his side business. The startup decimates his pay potential AND could completely stop him in his side work. This is a no brainer considering this point.
Stripe will always be there. Go with what you love while you have the freedom to do so.
Will it? I don't know. I've never gotten an offer this high before, and I don't feel confident that it'll happen again.
For what it’s worth, every time I get an offer at a new job I can’t believe it. And then the next offer is 2x. If you think the startup will give you a lot of growth and opportunity to work in an area you love, it seems worth the risk. But one consideration would be the financial health of the startup compared to Stripe.
Unless you can FIRE already
If they can’t beat Stripe’s offer then it’s the easiest decision to make
Both good options but I’d go with stripe. At 3 yoe, you may learn more about good leadership by following a successful leader at a company like stripe than by leading your own project at a startup.
Literally me up until this week. Chose the equivalent of your startup. Good luck out there
Congrats, I hope it ends up being everything you hoped!