Current TC: 210k Startup offer: 200 base + 0.05% equity. Startup has been backed by Good venture companies and have series B funding. Cant disclose the name since its Stealth mode.
0.05% equity? That seems way low. Assuming company valuation of 100 million, with that equity, you are looking at 50k. What is expected company valuation?
0.05% is pretty low, if it reaches $1B, that’s just $500k. plus to reach $1B there must be another round which means dilution and time and uncertainty.
You'll likely make less over the next 5--6 years at the startup, as prior commentors have said, but also think about how this might imrpove your skill set and resume. Leadership skills, technical skills, etc can be learnt best at a startup. But money wise, it's likely better to stay at Apple and angle for promotions and more RSUs.
Valuation is around 200 million as of now. I think but not sure
YOE?
10yr
Is the equity in RSUs or options? If it's options, what's the exercise window if you leave before liquidity event? 0.05% seems low regardless, another 40-50% dilution over two rounds wouldn't be at all unusual.
Thats true. its options. What would be a good one to ask for?
I'd aim for 0.2%, assuming it's a senior+ level role. Also, try to get a 7-year exercise window - standard is 90 days, which generally means that when you leave, you need to shell out potentially tens of thousands to exercise and even more on the taxes if you want to keep the options (which might still end up being worth nothing), or watch them evaporate. Of course, this is assuming you see a great opportunity with the company + team as well - in most cases you're going to be leaving money on the table no matter what % and terms you get, when compared to growing at Apple or jumping to another FAANG.
Your work might be more interesting than Apple I think. Also more ownership. If you don't have family and mortgage and 200 dogs, and if you like the vibe of the team, I would take it :)
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Let’s say it is sold for $1B, and no more dilution of stock, your would get $500,000 , in x years See the numbers and compare. Startups are more than just money. Specially at such a small stake