4 ms·

FWIW I joined stripe at around 600 people and almost certainly will prove to have done much better there than at faang financially (and quality of life/work). N

FWIW I joined stripe at around 600 people and almost certainly will prove to have done much better there than at faang financially (and quality of life/work). N=1 but I expect the same is true of most people who've worked there even until recently.

scarface74 4y ago
But statistically, the chance of any startup succeeding is about 10% and buy “success it just means that the investors didn’t lose money - not that you made a killing
- dasil003 4y ago
  Joining Stripe at 600 was not that kind of bet. It was significantly derisked by that point was really a question of how far that early momentum could carry them.
  - scarface74 4y ago
    So isn’t it still risky since you can’t get access to your equity? My RSUs are deposited into my account every six months and I can sell and diversify them.
    - fallingknife 4y ago
      Eventually the tech market will turn around, and they will be able to IPO. Stripe is projected to turn a profit this year, so there is no runway, and they can wait as long as the want for the right time. So Stripe equity isn't that risky. For 95% of startups it would be, though.
      - scarface74 4y ago
        How does that help someone with financial needs now? I’m not one of those people who keep my RSUs after they vest. I diversify over six months. I wouldn’t buy 30% of my company’s stock with cash if I were getting paid in cash , why would I keep my RSUs instead of diversify? Of course that doesn’t mean I think the company I work for is going to disappear anytime soon.
        fallingknife 4y ago
        It doesn't, but if you accepted an offer where the base salary doesn't cover your financial needs, then that's on you. And it's good to remember, that while RSUs are nice for the reasons you state, companies that give them out tend to pay a lower cash salary because of that, and if those stock prices go down, so does your TC, and it could be quite a big drop.
        scarface74 4y ago
        Well, all indications are that the BigTech companies are issuing new stock to at least keep people at their initial cash+stock compensation grant+a modicum of a raise. I’ll know myself in a couple of months. I’m in my 3rd year and my first full year of base + RSUs instead of base + 2 years prorated signing bonus + back heavy vesting schedule. (Yeah I know, how do I say where I work without saying where I work)
        fallingknife 4y ago
        I passed on interviewing there b/c I hear the culture is brutal with no work life balance. Is that true in your experience?
        scarface74 4y ago
        I work in Professional Services as a billable consultant (cloud app dev). Most of us are much older with families and wouldn’t deal with interference with our home life. Our division is much more “enterprisey”. Also, since our division is mostly remote (even pre-Covid) and most of us are established in our career, we have much more optionality, a larger network, and hopefully a larger nest egg.

scarface74 4y ago

But statistically, the chance of any startup succeeding is about 10% and buy “success it just means that the investors didn’t lose money - not that you made a killing

dasil003 4y ago
Joining Stripe at 600 was not that kind of bet. It was significantly derisked by that point was really a question of how far that early momentum could carry them.
- scarface74 4y ago
  So isn’t it still risky since you can’t get access to your equity? My RSUs are deposited into my account every six months and I can sell and diversify them.
  - fallingknife 4y ago
    Eventually the tech market will turn around, and they will be able to IPO. Stripe is projected to turn a profit this year, so there is no runway, and they can wait as long as the want for the right time. So Stripe equity isn't that risky. For 95% of startups it would be, though.
    - scarface74 4y ago
      How does that help someone with financial needs now? I’m not one of those people who keep my RSUs after they vest. I diversify over six months. I wouldn’t buy 30% of my company’s stock with cash if I were getting paid in cash , why would I keep my RSUs instead of diversify? Of course that doesn’t mean I think the company I work for is going to disappear anytime soon.
      - fallingknife 4y ago
        It doesn't, but if you accepted an offer where the base salary doesn't cover your financial needs, then that's on you. And it's good to remember, that while RSUs are nice for the reasons you state, companies that give them out tend to pay a lower cash salary because of that, and if those stock prices go down, so does your TC, and it could be quite a big drop.
        scarface74 4y ago
        Well, all indications are that the BigTech companies are issuing new stock to at least keep people at their initial cash+stock compensation grant+a modicum of a raise. I’ll know myself in a couple of months. I’m in my 3rd year and my first full year of base + RSUs instead of base + 2 years prorated signing bonus + back heavy vesting schedule. (Yeah I know, how do I say where I work without saying where I work)
        fallingknife 4y ago
        I passed on interviewing there b/c I hear the culture is brutal with no work life balance. Is that true in your experience?
        scarface74 4y ago
        I work in Professional Services as a billable consultant (cloud app dev). Most of us are much older with families and wouldn’t deal with interference with our home life. Our division is much more “enterprisey”. Also, since our division is mostly remote (even pre-Covid) and most of us are established in our career, we have much more optionality, a larger network, and hopefully a larger nest egg.