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Totally depends on the deal. I was once offered a job with a good, but not great, salary in a geographic region that was lite on IT jobs to which I would have
by IanDrake 9y ago
Totally depends on the deal.
I was once offered a job with a good, but not great, salary in a geographic region that was lite on IT jobs to which I would have to move.
The plan was for them to sell to a larger company in 2 years at which point any sane buyer would move this remote facility to their HQ.
Based on my equity and they're target sale price I would gross 40k from the sale, IF it ever happened.
No thanks. Maybe 20X that would have made it worth while since I'd be losing about 100k a year in total compensation.
- hitsurume 9y agoHow were you able to calculate 40k from the sale? Was it option price versus what they would sell price?
- IanDrake 9y agoBasically. My vested shares / shares outstanding * sales price. Full vesting on sale. They were surprisingly open and honest about the raw numbers and then somewhat stunned when I did the math right then and said "That's not much".
- muzani 9y agoIt sounds like you would get 40k cash then but have to look for a new job. I don't see it as a bad deal.
- IanDrake 9y agoI get what you're saying. So let me add context... At the time I was making around 200k consulting and those were 40hr weeks. To take a job at a "startup" that was mature enough to pay me 120k salary but too mature to give me significant equity meant that if all went to plan I would get 120+120+40=280. On top of that I'd be working grueling startup hours. Vs. 200+200=400 and taking it easy. The appeal was that the job was in a coastal town where I wanted to live. There are very few IT jobs in that area. Fast forward 8 years later. I live in the area I wanted, but I had to bank consulting money and gain experience to get to where I can work remotely and still demand a good rate.
- richardknop 9y agoYou should have asked for relocation package. So they give you 20k signing bonus and they rent a serviced apartment for you for first 6-12 months? That's reasonable thing to ask for if you are going to relocate to some remote area.
- IanDrake 9y agoI already had a house in the remote area. In my experience, very few people have a similar life style to mine, which is to say, complicated. And when explained, most people don't understand how or why I would live like that.
- quickthrower2 9y agoOh I'd love to know more. But totally understand you probably want to keep it private.