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Current 198.5kTC @ HCOL/3yoe Offers on hand: Plaid E4 offer of 248kTC @ HCOL (160k base + 352k in RSUs) Stripe L2 offer of 317.5kTC @ HCOL (175k base + 10% target + 50k sign-on + 450k in RSUs) Robinhood L2 offer of 297.5kTC @ HCOL (175k base + 50k signing + 10% target + 370k in RSUs) These are all post-negotiation. Plaid told me my offer was close to top-of-band for E4. But it seems the rest of the market is paying much more (ignoring future upside, which is a significant consideration). Am I getting played, was my interview performance borderline, or is this legitimately about as high as Plaid goes? #offers
Just choose one of the others, not all companies pay the same
Right? Two other solid offers and this person is worried they got a mediocre third offer. Blind sucks.
Well I only interviewed at the other two for negotiation leverage with Plaid. So I'm probably taking Plaid unless I'm going to come in making less than all the other E4's because the lack of internal parity would bother me.
Go for Plaid.
Can you explain to an ignorant newbie like me how RSUs work at a pre-IPO company?
You get the shares, they're just not liquid. Although usually the RSUs are double-trigger, which means the shares don't vest at all until the stock becomes liquid (after an exit event), since you have to pay income taxes on RSUs as soon as they vest. So if classic (single-trigger) RSUs were what a pre-IPO company Foo had, and you got an offer for 100k base + 200k in RSUs but the company's valuation (initially 1B) doubled every year, here's what that would look like: year 1 (valuation is 1B): make 100k liquid income, 150k paper income, pay taxes on 150k out of 100k actual cash (since you can't sell the shares to pay taxes) year 2 (2B): make 100k liquid income, 200k paper income, pay taxes on 200k out of 100k actual cash year 3 (4B): make 100k liquid income, 300k paper income, congratulations you are now bankrupt You get the idea. Instead, with double-trigger, you accumulate to-be-vested RSUs but they don't actually vest until the exit event happens: year 1 (1B): make 100k cash income and earn non-liquid shares to be vested when exit event happens; pay taxes on only 100k year 2 (2B): make 100k cash income and earn non-liquid RSUs waiting for the exit event. ... (say you leave year 3, having accumulated half your initial grant and the company exits in year 5 at 16x original valuation) year 5 (16B): make 100k cash income + all your old half-vested shares now vest at the same time so you get 1.6M in vested RSUs and some of the shares of the now-public company can get sold and withheld to pay your tax burden so you don't get fucked So you defer actual vesting until exit. It's definitely not smooth and skyrockets your tax burden for one year but it avoids the other problem of making you bankrupt by forcing you to pay taxes on something you can't actually sell.
I don’t understand why you would pay taxes if you aren’t selling the stock?
With the new RSU stripe package you lose a lot of the upside so not sure if its worth it..
Yeah, I'm going for Plaid but I just want to know if I'm being lied to about their comp band.
What is the strike price of Plaid? And at what valuation?
There's no strike price. It's just 352k worth of presumably double-trigger RSUs at Series D (13.4B) valuation.
When was the series D ? How many quarters have passed since then?
I’d go for plaid. You’re too late for the others.
Why not sign Robinhood? Since they are pre IPO, you can get the RSU at pre IPO price
We give equity offers based on dollar value now. No free lunch anymore.
. I’m E4 and base is 188k. Joined at 175k base. Bear in mind comp bands were rolled out after I joined
Op did you negotiate further? Levels at Plaid are further divided into three bands: Low, Medium, High. Your offer may be the top band for E4 Medium.
That makes sense. I was unable to get any more negotiation past the mid-250s.
Do you know what the Low, Medium, High bands look like?
Did you nail Plaid interviews?
I thought I did about equally well across Plaid, Stripe, and Robinhood interviews. So does this offer mean my interview performance was actually borderline?
Possibly, but then Plaid E4 maps to Amazon L5 which pays on average $250k. Maybe other companies are paying a bit on the higher end.