Current Tc: 230k Software engineer with 7.5 years experience Offer from EdTech Startup Role offered : senior staff engineer Offer: 200k base, no joining bonus, 20k stock options. Current strike price:3$ , current secondary offering price: 10$ Current Unvested stock at Paypal: 140k for next 3 years. How much stock options can I negotiate?
I think you need way way more equity.
This offer is worse than what what you have now
on a scale of 1 to 10, it's a 4.
Not worth it
Is that 20k options per year or over 4 years? Also does that mean total value of those 20k options is 140k right now ( by using difference of 10 and 3)?
Yes, 20 k options vesting over 4 years. Right now it is worth 140k.
It's not worth 140k, because those are common shares that are illiquid. The calculation I would use is cut the 10 dollar "price" down by 20-40%, 20 for a celebrity founder that has easy access to funding, 40 if it feels more risky. Basically you need double the shares if not more just to match your current job, and you should be looking for a raise not a match Remember you are the one who is in demand, and giving out more equity is a deferred cost for them.
I m planning to ask 210k base, 25k joining, 40k stock options
Startups are usually very cash strapped, and the stock market is going down making funding even harder to get. Signing is also atypical. If you don't need more cash, I would ask for 50k options and keep the base the same. Your base is actually quite high if this is a small company.
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Show them your current options statement and tell them you donāt want to lose equity. If they want you they will be willing to negotiate up to a point.