Planning to move to NYC because i want to. TC at Uber is ~220k (140k base, 20k bonus, 60k equity yearly). Got an offer from a startup that for 135k base, 10% target bonus, and ~75k equity over 3 years (3 year cliff, which is weird). I would be taking a pay cut esp since the comoany isnt public and equity isnt for 3 yrs. I might also have the chance to transfer within Uber and keep current pay in NYC office. I do have confidence in future of Uber and think the name is worth it despite the news cycles from 2017. would it be a bad move to leave uber for a startup?
3 year cliff is scary, although I get why they do it
The startup has a weird equity structure where the equity I get is probably only going to be worth 100k over three years if the company valuation increases by 3x... that seems like high bar for equity thatโs not even that much.
There's massive upside In Uber stock, if they cut cash burn (which I believe they will). Doesn't sound like the start up gives you the same kind of upside. You'll probably also rise faster at uber, as the company grows, since you've probably already proved yourself.
Iโd def stay at Uber or find another startup that can match your current TC without the weird equity structure
Donโt change too many things at once. Move to Uber NYC first. Then look for jobs as you wonโt have to fly for on sites.
How do you know what the equity offered by the startup is really worth? Do you have an objective way to verify it?
A three-year cliff is incredibly disrespectful, particularly for such a small amount of equity. It is a blatant attempt to not pay you. Tell that startup to buzz off
This
The equity sounds like a scam. I think you should pass.
Pass
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Are you at an age you can afford the risk? Do you genuinely believe in the startup's product?
Yea Iโm pretty young so I have high risk factor but personally am more risk averse. The startup has a weird equity structure where the equity I get is probably only going to be worth 100k over three years if the company valuation increases by 3x... that seems like high bar for equity thatโs not even that much.
I'd stay at Uber, and I also have a high risk factor. That in itself sounds weird enough to deter. Best of luck, though.