High performing L64 at $320k TC reaching L65 in a year. Recently got a L6 offer from a Tier 3 company. Can't name because it's small and my role is niche. TC is like $250k cash, $250k options. Supposed to IPO soon in 1-2yrs. $500k TC if that happens and stock price lives up to the hype. TC wise is solid at can match with many L6 positions at FAANG, assuming paper money cashes out. Would you take it? I'm also interviewing with FAANG level companies and I'm reasonably confident I can get L5 which will be $400-450k TC although the interviews won't be done in time so must make a choice now. IMO, the prestige of FAANG itself is worth $50k as it open doors. If I downgrade to Tier 3 it most likely will be a retirement move, and given that they have no reputation for engineering excellence or prestige, climbing up the tier ladder in the future will be hard if I have buyer remorse. I'm not ready to rest and vest yet. I've been in a shit tier company before, it sucks and I don't want to go back. I don't want to give up my FAANG dreams. Also downgrading to tier 3 means my TC will be maxed out. Whereas at FANG I can continue to L6, L7. My dream is $1mil TC then I retire. Some comparable company to this tier 3 company are Peleton, Pluralsight, OfferUp, Expedia. Basically companies that are not true tech companies like FAANG and do not have strong reputation for being tech leaders. I know I can make it to the best. Your thoughts blinders? Prestige or TC?
FAANG will always exist and you can always study up
If you know you can make it to the best, don’t sell yourself short! You won’t regret it
If you're really niche, then you should be able to delay and tell FAANG to hurry up
Name the area of focus, lot of these tier3s don’t live up to the hype. Also, ask for 2-3 levels higher than what you are. Btw, tc calculation is wrong .. I would personally not choose it unless it is director or VP level role.. also these are not rest and best companies.. very lean and double the work..
Your current TC is 320k and you wanna move to company that give you 250k real money and 250k paper money in form of stock options. They might or might not ipo. If you believe they will go ipo soon and the company has good future, the options can make you millionaire (the valuation might be tripled or more). On the other side, the company can be stuck and going nowhere and your options worth nothing, basically your TC and prestige are decreased. So it really depends on what you believe on how the company will be in the future.
So what makes it tier3 if they pay 500k TC and do interesting work ?
Quality of teammates Ability of manager to evaluate your contributions Growth opportunities within the company Perks Company stability Product market viability Quality of experience Etc
I rate tier as quality of teammates, career growth potential including TC.
No such thing as tiered companies
Tc is 250+options NOT 500k RSU!=pre ipo options
I have $900k of options vested over 4 yrs. That $900k is valuated at some strike price differential. So if the price of the stock is the same as the current price when it IPOs, then I get $900k of profit over 4 yrs.
IF it IPOs AND the price doesn’t tank over 4 years. Remember startups fail all the time your google coloured lenses may be clouding your vision a a bit. I’ve been burned by this in the past. Be careful.
I would serve fries at McDonald’s for 500k. I hardly care about how people view me if the TC is that good lmao
What is an example of a tier3 company
Some comparable company to this tier 3 are Peleton, Pluralsight, OfferUp, Expedia. Basically companies that are not true tech companies like FAANG and do not have strong reputation for being tech leaders.
Thanks!