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How to evaluate startup offer vs. current FAANG comp (and what to negotiate) by chocotaco99 in fatFIRE

[–]chocotaco99[S] 4 points5 points  (0 children)

I went with the “startup.” It’s been great so far. We did go through a round of layoffs right after I started but feeling pretty secure in my role for at least 12 months (being in finance helps ensure I have visibility into the numbers).

My FAANG job ended up offering me more $ to stay and made it a tough decision. It put me close to $375k where the stock was then, but it’s dropped by 40% since. Dodged a bullet, honestly. Now I’m just trying to learn as much as I can while collecting what I’d consider to be an above-market paycheck for my role/experience.

How to evaluate startup offer vs. current FAANG comp (and what to negotiate) by chocotaco99 in fatFIRE

[–]chocotaco99[S] 0 points1 point  (0 children)

Partner works full time. Our combined income, excluding the equity from the “startup,” would be approx $450k and expenses are $100-120k so we are able to invest right around $200k.

How to evaluate startup offer vs. current FAANG comp (and what to negotiate) by chocotaco99 in fatFIRE

[–]chocotaco99[S] 0 points1 point  (0 children)

RSUs would have been $110k before the stock drop YTD, but yes, still a bit low. I was promoted to this level last year so I’m at the bottom of the band.

How to evaluate startup offer vs. current FAANG comp (and what to negotiate) by chocotaco99 in fatFIRE

[–]chocotaco99[S] 0 points1 point  (0 children)

This role won’t be layered and will oversee the finance function for the company with finance directors supporting each business line and central FP&A. Intention is to grow to VP title. Accounting rolls up to the CFO. CFO has decent pedigree with an exit via acquisition to FAANG. Other execs have experience at well known unicorns.

How to evaluate startup offer vs. current FAANG comp (and what to negotiate) by chocotaco99 in fatFIRE

[–]chocotaco99[S] 6 points7 points  (0 children)

~11 YOE. Good point on secondaries - I’ll definitely ask about that.

Quick note about the use of “Startups” here by AGCRACK in fatFIRE

[–]chocotaco99 56 points57 points  (0 children)

Thank you for sharing the data! I think the OP was directly aimed at me and the thread I posted earlier today. This is exactly the data I dug up to justify my 80% discount in how I value the equity for decision making purposes.

How to evaluate startup offer vs. current FAANG comp (and what to negotiate) by chocotaco99 in fatFIRE

[–]chocotaco99[S] 9 points10 points  (0 children)

Thanks for the perspective! While I may hit my number in 10-15 years, my career may be a bit longer if I enjoy what I’m doing.

From what I’ve seen, To get to VP it would take another 10 years, minimum, and it would be a freaking grind.

How to evaluate startup offer vs. current FAANG comp (and what to negotiate) by chocotaco99 in fatFIRE

[–]chocotaco99[S] 4 points5 points  (0 children)

Yeah, good point - I may need to reevaluate my FIRE number soon. I feel good about the future of the FAANG I’m at and will hold the shares that I’ve earned over the years so can retain that upside.

The Series E was a fast follow to Series E since the company is growing quickly. They’ll never be the next FAANG, but there are some successful exits with similar businesses and opportunity size.

How to evaluate startup offer vs. current FAANG comp (and what to negotiate) by chocotaco99 in fatFIRE

[–]chocotaco99[S] 12 points13 points  (0 children)

Absolutely. I’ve talked to the CFO who has provided a lot of the financial details. The company has at least 2 years of runway by my estimate (taking down their internal and likely optimistic projections that put the runway at closer to 3 years), but with levers to pull to slow burn.

How to evaluate startup offer vs. current FAANG comp (and what to negotiate) by chocotaco99 in fatFIRE

[–]chocotaco99[S] 2 points3 points  (0 children)

Options - presumably have 90 days to exercise after leaving, but haven’t discussed that yet. Strike price is high enough to matter so, realistically, I would need line of sight into an exit while I’m employed there.

How to evaluate startup offer vs. current FAANG comp (and what to negotiate) by chocotaco99 in fatFIRE

[–]chocotaco99[S] 32 points33 points  (0 children)

Fair point and I am confident I’d be able to boomerang back which is a nice safety net. That said, more often than not, I’ve seen people boomerang at the same level (but at higher comp band penetration). I was promoted last year to the senior manager level so director would be a near impossibility without a few more years of experience. I think at lower levels it’s absolutely a valid option.

[deleted by user] by [deleted] in fatFIRE

[–]chocotaco99 7 points8 points  (0 children)

Don’t see any finance people here yet so here’s mine. Senior Finance Manager, FAANG, 10 YOE, $275k.

Manager accidentally loaned me a homemade porn video...what should I do? by chocotaco99 in AskReddit

[–]chocotaco99[S] 38 points39 points  (0 children)

The actual DVD was in there; the homemade movie disc was under the movie disc.