I got an offer for senior software engineer from Ethos Life, which is an insuretech valued at $2.7 billion. I got an offer of $170k base + 30k RSU units ( basically options with 0 strike price). Fair market value is close to $6.5 which brings total compensation to $220k. No sign on or annual bonus. Location is Austin but work is remote. I understand FAANG pay more. Is this a good offer for a non FAANG company that's in Series D? Your help is much appreciated. Current TC - $165k. Yoe - 6
I think it's an OK offer. How likely do you think it is that they'll ipo or get acquired? How many years will it take for an exit? Asking because when you join a pre-ipo company, you've got to wait for liquidity events to make those Rsu worth something.
Likeliness - for sure. They are filled with people from investment banking. Funded by Softbank as well. They'll definitely exit in the next two years I believe. How much will the stock be? Not sure. They are already at $2.7 B. Best case they can go to $7-8 B which will bring stock price to something around $16-17 in the best case.
Well then go for it, if you're interested.
Going from 165K TC to 220K is not worth the jump?
Note: You should do your own due diligence. It could be a massive opportunity. They have solid product market fit, a very very large market that is ripe for disruption and are in a clear expansion phase. Hint: Look at the number of life insurance companies in Forbes 100 and look at their average age. Softbank aside (they were just the latest) look at their other top tier investors. My recommendation would be to do a serious evaluation of the opportunity and really understand the business for yourself and make a decision based on that. good luck.
Do you work for Ethos life now? How do you know so much about Ethos?
Sequoia , Accel, Google, Goldman all invested = very bullish
Not sure if it’s worth joining for only 5k more in base but it seems low to me. Maybe it’s because I did well during the interview process at a series b valued at 1 billion. They offered me 200k base 200k stock options/4 = 250k TC. This isn’t even for software engineering. It’s for DevRel. Also if it’s at series D it’s not RSUs it’s stock options right?
My TC is $165k. Not just the base. It's usually stock options but some companies offer RSUs which is basically options but $0 strike price. Was your offer for Austin?
Ohh I see. Im new to the start up world lol. No it’s in SF. Another company (this company is in Austin) offerer me 170k base 15k RSUs/yr and 5k signing bonus. Post IPO. Total TC yr 1 190k for a Sr DevRel position as well which I actually ended up taking. I want to try and move up into management.