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None. Eleven startups. Net value of options: zero. Plenty of exits, but thanks to preferences overhangs, zero value for employee stock options. Yes, got dece
by dgvkx19z7f80gqq 6y ago
None.
Eleven startups. Net value of options: zero.
Plenty of exits, but thanks to preferences overhangs, zero value for employee stock options. Yes, got decent salary, but not FAANG level.
VCs may be able to write off 1/3 of their investments, I can't. Stop conning employees into accepting lower salaries in return for stock options.
- davismwfl 6y agoI'm curious, can you define what you viewed as a decent salary, either as a range or percentage of market?
- dgvkx19z7f80gqq 6y agoFor my region, $150-175k, engineering. Last startup I worked at (>1 year ago) paid $120 + roughly 30k in options (so, divided $30000 by strike price resulting in N options). Company exited for 5x venture funding. Options were effectively worthless as one of the venture rounds had a 2x participating preference. Acquiring company offered same salary, no equity. I would have been better off quitting the startup and applying for a new role at the acquiring company as they were paying other engineers comparable to me $165. The founders did ok, the investors did great, the typical employee (I was not first but was in the first 100) pretty much got screwed.
- causehealth101 6y agoYou've worked at 11 startups?! How long have you been in the industry?
- dgvkx19z7f80gqq 6y ago~20 years, several of those startups barely managed to survive a year. I started at a more traditional tech company and got recruited to a startup after a couple of years.