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I joined a pre-IPO unicorn 9 months ago, and am having very serious doubts about my compensation now. Given the direction the public markets are going, there is

I joined a pre-IPO unicorn 9 months ago, and am having very serious doubts about my compensation now. Given the direction the public markets are going, there is no way companies will be going IPO in the next few years. Even if the company goes public in a few years, it will take a while for the markets to climb to the exuberant levels they were at when the fair-market-value for the stock options were determined. Now, I have to do the hard maths of if I want to stick around with my comp being stuck for years, or head to greener pastures after my 1 year vesting cliff.

spoonjim 5y ago
If you joined a late stage private company recently, your options are completely underwater and as soon as the stock market seems to have stabilized you should jump ship, even just resign and re-interview for your existing company to get new options.
- shapefrog 5y ago
  Why wait for the stock market, bin the options (which are now worth zero) and take advantage of the extremely good job market.
- englebert 5y ago
  Can you talk more about the dynamics and timing here? Joining recently vs reinterviewing, and the factors that influence the underwater situation?
Apocryphon 5y ago
So does this mean right now the most lucrative roles would simply be public companies that offer stock?
- l30n4da5 5y ago
  or public companies that simply offer a competitive salary, imo
livinglist 5y ago
Instacart?
nowherebeen 5y ago
With falling stock prices in Big Tech, would joining them be any better? Your RSU will keep falling for awhile.
- astrange 5y ago
  Falling when it gets granted is good, as long as it goes back up before it vests, which is at least a year away. The history of share prices is that something good happens at least once a year.
  - sharpy 5y ago
    Yep. Companies make offers based on dollar figures. Typically the average price of first month is what is used to determine how many shares they will grant for RSU. So now is a good time to change jobs! Assuming things ever go back to normal… you will have a lot of upside. Just pick a company that you believe in.
    - nowherebeen 5y ago
      That’s assuming it will go back up. Big tech stock prices are only at pull back range at the moment, not a real decline. Time will tell, but my guess is that big tech that depends on ads will have a hard time keeping up with valuation.
      - sharpy 5y ago
        True. Between continued pandemic, inflation, and Russia… well, call me an optimistic fool. One who still has a few decades to wait it out.
  - bradlys 5y ago
    The vesting schedule at big companies has been changing recently. They started vesting immediately - no more year cliff. This is because people hated being paid half their comp for a year on such a regular basis. (Makes it hard to pay for a $2-3m home)
downrightmike 5y ago
Tech always recovers better after recessions. But you have to live through the recession and hopefully the business survives it.
- laurent92 5y ago
  “always” – the tech market is very young, the only recessions were 2000 and 2008, and those were during the ascent phase of the Kondratieff cycle of the Internet.

spoonjim 5y ago

If you joined a late stage private company recently, your options are completely underwater and as soon as the stock market seems to have stabilized you should jump ship, even just resign and re-interview for your existing company to get new options.

shapefrog 5y ago
Why wait for the stock market, bin the options (which are now worth zero) and take advantage of the extremely good job market.
englebert 5y ago
Can you talk more about the dynamics and timing here? Joining recently vs reinterviewing, and the factors that influence the underwater situation?

Apocryphon 5y ago

So does this mean right now the most lucrative roles would simply be public companies that offer stock?

l30n4da5 5y ago
or public companies that simply offer a competitive salary, imo

livinglist 5y ago

Instacart?

nowherebeen 5y ago

With falling stock prices in Big Tech, would joining them be any better? Your RSU will keep falling for awhile.

astrange 5y ago
Falling when it gets granted is good, as long as it goes back up before it vests, which is at least a year away. The history of share prices is that something good happens at least once a year.
- sharpy 5y ago
  Yep. Companies make offers based on dollar figures. Typically the average price of first month is what is used to determine how many shares they will grant for RSU. So now is a good time to change jobs! Assuming things ever go back to normal… you will have a lot of upside. Just pick a company that you believe in.
  - nowherebeen 5y ago
    That’s assuming it will go back up. Big tech stock prices are only at pull back range at the moment, not a real decline. Time will tell, but my guess is that big tech that depends on ads will have a hard time keeping up with valuation.
    - sharpy 5y ago
      True. Between continued pandemic, inflation, and Russia… well, call me an optimistic fool. One who still has a few decades to wait it out.
- bradlys 5y ago
  The vesting schedule at big companies has been changing recently. They started vesting immediately - no more year cliff. This is because people hated being paid half their comp for a year on such a regular basis. (Makes it hard to pay for a $2-3m home)

downrightmike 5y ago

Tech always recovers better after recessions. But you have to live through the recession and hopefully the business survives it.

laurent92 5y ago
“always” – the tech market is very young, the only recessions were 2000 and 2008, and those were during the ascent phase of the Kondratieff cycle of the Internet.