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 βPerformance Equity Grants,β 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
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Is there atleast a chance for you to bridge that gap based on performance? Or is it that youβll always be much worse than external hires ?
I had heard stripe does its best to bridge the gap between external and internal hires ?
Say you join with a 4yr grant, and after year 2 the stock is flat or down, what do you do? You probably go to a different company and get a new 4yr grant. But what if it's 10x? Well now you stick around and enjoy your $1m+/year comp. That optionality is worth a tremendous amount of money. A $400k/4 yr grant is not worth $400k, it's worth substantially more than that because of the option component. That's why Stripe has had to raise their AVG offers to compensate. L3 equity used to be $700k/4, or $175k/yr, but that's up to $230k/yr for AVG. (all based on levels.fyi, not from any internal source)
All that said, $250k+ for a new grad is amazing and if you save and invest well all throughout your 20s you'll be lightyears ahead of people your age.