I am very close to accepting an offer at WeWork as a data scientist in their NYC office but in light of their IPO valuation dropping, I am unsure what this means for the value of the RSUs as part my offer. https://www.cnbc.com/amp/2019/09/05/wework-is-dramatically-slashing-its-ipo-valuation-because-of-weak-demand.html My offer includes 1000 RSUs over 3 years, or about $110,000 based on 1RSU=$110. But that $110 price is pegged to WeWork's previous valuation of $47 billion... with their new valuation of ~$25 billion, has the value of my RSU package essentially halved? Should I bring this up with my recruiter and try to negotiate more? I've already done one back and forth with recruiting and was happy enough with the offer after that. Fwiw I have a competing offer from Uber that's comparable in RSUs (except ofc that Uber is public so their RSUs are concrete). Would appreciate any advice, thanks in advance.
Of course bring it up with a recruiter. They’ll probably up the stock 2x
Joining a company that’s about to ipo on half it’s valuation... imagine what the culture will be like for all those people seeing their riches disappear. Also do you think 25b is a good value or will it keep falling like many other unicorn iPod?
You have the upper hand here. You must renegotiate. But I also agree with what Facebook says.
WeWork will sink like an anglerfish in the first week of public trading no matter what the IPO is at
I plan on speaking with the recruiter in the AM. Any advice on how to go about this negotiation besides bringing up the obvious fact that my RSU package value has dropped in half? I have the competing offer from Uber so I plan on bringing that up as well. Re: WeWork being a sinking ship -- I'm aware that the company is on some shaky ground and the IPO will be tumultuous, but the specific role and team are quite interesting to me and I think would open more doors down the road than the opportunity at Uber. I guess at this point I'm not as concerned with optimizing immediate TC as much as skill and career development. Basically even if RSUs aren't going to as much as Uber's, I don't think the company will crash to the point where I get fired in less than 1.5 years and I'll still have a worthwhile career experience during that time. That being said I still want as much TC as possible lol.
Be direct. Say that compensation is important and you’ve been watching developments and want to make sure you get an offer reflective of your value.
What was your base offer? Did you give them a range for what you were expecting? Were you able to negotiate higher than your range?
What mission or team are you joining? I’m an ex-Wework data guy fwiw
How long were you there for? Why did you leave? Can you share what company, or even industry you ended up in after?
2 years. Left because this company doesn’t do anything interesting with data science
I appreciate and respect you valuing experience and growth opportunity as much as/more than chasing the shiniest TC. But seriously, what @technerd1 said... No matter what they promised you about tech challenge and cool team, if you want to grow you should join a company that is growing. Period. Market valuation isn't everything, but getting halved will take a serious toll on all but the most resilient cultures. From what I've read of their leadership, I'd highly doubt they have the inner strength to weather this well...
Jesus dude, are you leaving Uber to join WeWork of all places!? Even if they triple the TC, you should step back and think about the kind of choice you are making. All these claims of 'cool work' can vanish the day you join. I mean, do you want to be working on a toy project at a fraudulent entity? Don't even get me started on "opening doors", having WeWork on your CV is going to be a liability.
Just saw a post by somebody saying that their RSU was slashed in half in a single day. Something to consider.
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Yes absolutely negotiate.