I got a new grad SWE offer from Stripe, and I have two questions. 1. My offer letter says that AVGs increase when you get promoted. But by how much? Would you get as much as L2 external hires, if you start out as an L1 and get promoted? 2. My offer letter also says that I may receive “Performance Equity Grants,” which my recruiter said can be anything from 0 to 100% of the value of my initial AVG and vest over two years. What are typical values of those grants? TC: negative tuition cost Level: college senior Stripe offer TC: ~$286k on the first year, ~$246k on the second, ~$226k recurring
No, promo puts you at the bottom of the next band compared to external hires that come in anywhere between the middle to the top of the band. This is true regardless of the company
Incredible tc for new grad, congrats
Make sure your recruiter explains the time in level caps for L1 and L2.
Could you explain this? (I’m too shy to ask my recruiter)
I think this means the maximum time you can stay as L1 (similarly for L2) because these are not terminal roles and you are expected to be promoted. I've read that it's 3 years for L2. Commenter can correct me, I may be wrong.
I think the base is 10% less than the average external hire. And equity is the same.
Damn , then why do they keep claiming that they want to favor people with more tenure with avg model do equity , it’s quite a dent to have 10% lesser TC. Is there atleast a chance for you to bridge that gap based on performance? Or is it that you’ll always be much worse than external hires ? I had heard stripe does its best to bridge the gap between external and internal hires ?
What's the breakdown of TC for first/second year?
There’s a $50k signing bonus that vests during the first year and a $20k anniversary bonus that vests during the second. Apart from that, the offer included: - $134.4k in base salary - 10% as the target bonus - $78.7k as the annual recurring stock grant - also $0-$78.7k in performance-based stock grants, but as I said in the OP, I’m not sure how much I should reasonably expect to get from this.
Nice! Still unfortunate they switched to the AVG model instead of 4 year rsu, but it's a good offer regardless
Op Can I DM regarding some interview queries? Thanks:)
Holy shit that TC. Congrats 🎉