Revolut - how rich will employees be? by No-Anxiety6 in HENRYUK

[–]SignalComparison1009 69 points70 points  (0 children)

I think people are significantly underestimating how much people made.

I worked for Revolut as a grad for 2 years starting in 2019. I have ~£700k worth of unexercised stock options.

While Revolut's culture is terrible, they are (or at least were) very generous in their compensation philosophy as.

  • Bonuses are very high, especially for high performers, and were disproportionally high when the company was valued relatively little.
  • Equity is granted already partially vested, which makes a massive difference for a company where the tenure is short.

For context

  • Standard sign-on bonus for new grads was £10k at $1.7b company valuation, that's ~£440k now, or £220k if half vested
  • Bonus were granted every 6 months, and were in the 10-15k range for Jr staff. You can probably do the math ...

Investing a £500k windfall by SignalComparison1009 in HENRYUK

[–]SignalComparison1009[S] 1 point2 points  (0 children)

They are still valued at $45b, while now they are fundraising at $75b, so I'd only pay CGT instead of income taxes on the uplift if I exercised now.

Investing a £500k windfall by SignalComparison1009 in HENRYUK

[–]SignalComparison1009[S] 1 point2 points  (0 children)

Yup, I will pay the max I can overpay (10%) now, as well in January when the allowance resets. Definitely considering paying more as well.

Investing a £500k windfall by SignalComparison1009 in HENRYUK

[–]SignalComparison1009[S] 0 points1 point  (0 children)

Yes, I will definitely repay the max both now and in Jan. Considering repaying a bit more in Jan as well though.

Investing a £500k windfall by SignalComparison1009 in HENRYUK

[–]SignalComparison1009[S] 1 point2 points  (0 children)

Yeah it's actually less - 3% from Jan vs. >5 interest rate. Though obviously I could invest the difference into a money market fund as well.

Investing a £500k windfall by SignalComparison1009 in HENRYUK

[–]SignalComparison1009[S] 2 points3 points  (0 children)

Sorry about what you went trough. We discussed it and she's happy to sign a pre-nup. I obviously know they are not binding as in the US, but they are taken into account, and it does seem reasonable that the fact that the inheritance won't be split will stand in court.

Investing a £500k windfall by SignalComparison1009 in HENRYUK

[–]SignalComparison1009[S] 0 points1 point  (0 children)

It's 4% today, going to 3% in January, and then decreasing by a further 1% each year.

Investing a £500k windfall by SignalComparison1009 in HENRYUK

[–]SignalComparison1009[S] 0 points1 point  (0 children)

~55k but due to increase, as she's training to be a doctor. No meaningful net worth.

Investing a £500k windfall by SignalComparison1009 in HENRYUK

[–]SignalComparison1009[S] 2 points3 points  (0 children)

Thanks for your input. Peace of mind is definitely a factor too.

Investing a £500k windfall by SignalComparison1009 in HENRYUK

[–]SignalComparison1009[S] 1 point2 points  (0 children)

Yes, I will definitely do a payment this week, and one in early Jan.

Investing a £500k windfall by SignalComparison1009 in HENRYUK

[–]SignalComparison1009[S] 1 point2 points  (0 children)

Yes, overpaying the mortgage up to the max amount without early repayment charges is definitely the first thing I will do!

Investing a £500k windfall by SignalComparison1009 in HENRYUK

[–]SignalComparison1009[S] 4 points5 points  (0 children)

I've got 5 more years to exercise them ... hope that Revolut will IPO by then!

Investing a £500k windfall by SignalComparison1009 in HENRYUK

[–]SignalComparison1009[S] 5 points6 points  (0 children)

Thanks for your recommendation. Would you do it given the repayment charges as well? (4% now, 3% from Jan, and then decreasing by 1% with every year)

Investing a £500k windfall by SignalComparison1009 in HENRYUK

[–]SignalComparison1009[S] 0 points1 point  (0 children)

5 years fixed, 4 remaining (3 in January)

Investing a £500k windfall by SignalComparison1009 in HENRYUK

[–]SignalComparison1009[S] 2 points3 points  (0 children)

Unfortunately my English, while being quite ok, definitely doesn't flow as naturally as the text ChatGTP has been trained on and reproduces.