I am currently a MLE L6 at G Yoe at G 6; total yoe 9 TC 550k at bay area I got an offer from a series B fintech startup in Seattle. Base 260k no annual bonus mentioned. Stock option 310k unit with strike price the same as FMV at 3.2 dollars per share ( vest over 4 years) I really have a hard time to gauge how much the option worth as I am not able to know the total number of stocks. And the value of the option really depends on how the company grow... I have never work in a startup, and any suggestions are welcome š #equity #startup
Ask for the equity percentage, so you can do the math based on the projected valuation for next round.
They are never going to give you this
Which means the equity is fake. Real equity is transparent.
Ask for the preferred price of the shares
Usually they are shouting this from the rooftop because it is higher than fmv. That theyāre only giving fmv is a red flag that they may have taken a down round or have other problems.
How are the preferred price and FMV related? Or how can you use the information? Thanks
You can calculate equity % based on value of your shares (310K * preferred price) and their current valuation Base is as good as it gets at a startup, question is equity and how fast it grows from here
Dont riskā¦ stay at G šš»
Feel like want to gamble. Not having to much fun with my current project. And not seeinf trajectory to L7. Maybe i should just change team in G.
From what i know - base is what fixed TC that you get from startup. Other than base remaining can be close to zero as most startup end up bad. I red some where 90% startupās fail. I understand you want to gambleā¦ risking half of your TC with 90:10 odds is not good ratio to put you stakes. Hope you choose good onešš»
Base looks good. I would say the startup equity package should be higher. If itās a series B startup and you are going from G, you really need to negotiate for more. It may still not be worth it. However there is a huge subjective component. You have to do an analysis on success potential of the startup. Higher level/ role can be another reason. Otherwise getting out of G without any reason is meaningless. If you are bored get a hobby. Or move to another team at Google.
The founder is a well respected person that i know. That make me want to work there. The equity is really hard to evaluate and hard to give up GSU that is just like cash š„²
Respected by who? Please evaluate carefully
Also, wanted to add, it was MUCh more easier to get in at G 6 years ago than it is now. It will progressively get harder (on the LC front).
Itās not that hard. I got offers past two years and decline them.
What was your LC prep level? I am not saying no one can get in. Just that without keeping up with prep it is not a guarantee. Also you may be that smart exception that can get in without much LC
Stick with G and probably start something on your own. Not worth the risk
You need to know preferred price and the current company valuation. In general, if you have to pay 1M to exercise the options, thatās a lot and the offer is good. Another thing to look for is how much time do you have after leaving the company to exercise. Donāt join companies with short exercise window. If the exercise window is good, itās worth considering. People here are conservative with startups and go crazy with Google. Thatās why they are still here instead of retiring on an island
Incorrect comparison. 1 in 1000 startup early stage employee will retire in an āislandā Almost all FAANGers are able to FIRE even in HCOL.
I must add: L6 550k is common nowadays and if this company doesnāt work out, you have a bunch of other options
Ignore everyone thatās telling you not to do it based on literally no information then the comp You were making 500k+ previously, worst case scenario the startup goes bust and you lose out on some money. For one, google will still be there after and you can easily go back to another FAANG for a shit ton of money. Two, youāre still making $260k lol, not like youāre all of a sudden gonna be broke I say go for it OP. Try to negotiate more if you can, but regardless startups are fun as hell
Do you think getting in to G will as doable for him in a few years if the startup busts?
?? Is this an actual question? Heās literally in google now. Obviously itās doable
Your TC will go from 550 to 260
oof but accurate
I am ready to live with the base in the next 4 years. Seems like to invest in a single target with high risk?