As a transgender women working in the Bay I can say that no 'startup' has ever proven to me that they cared when it comes to benefits. I still have yet to land a job anywhere that doesn't have explicit exclusions for transgendered people in their insurance policies. Yay. I get paid well. Its a good thing too because paying out of pocket for health care is shit even when you make six figures.
Benefits matter, or why I won't work for your Y Combinator startup
351–360 of 360 posts
Re: Benefits matter, or why I won't work for your Y Combinator startup
#352Re: Benefits matter, or why I won't work for your Y Combinator startup
#353Earlier quoted context omitted.
I'm sorry, but there is a 0% chance that an employee will be paid $1 billion. An employee is just a hired hand and has zero control and zero information about how money is being distributed. Once that kind of money is on the table, there would certainly be some way for people controlling the company to change that outcome, so an employee will never see that kind of money. And it will be done. Just business. Nothing p…
That sort of thing is called a "hypothetical". It's not intended to be a realistic scenario.
Well that's the whole point - the realistic numbers are more like a choice where you (A) receive $100k now; or (B) receive a 1% chance of 5 million; where the (B) option is worse in all aspects, both higher risk and lower expected value.
Re: Benefits matter, or why I won't work for your Y Combinator startup
#354Earlier quoted context omitted.
We've been generally happy with TriNet, and it's worth having a great benefit package and an HR call center. It's not free, but I think the math works out about the same way free meals do.
Same question on Trinet - since they also have no prices on their website - based on your experience, how do they charge (per employee, per transaction, etc) and how much does it cost, roughly? 100$/empl/mth, 1'000$/empl/mth?
Per employee, with something like a minimum of $2k/mo for 4 or 5 employees and something that approaches $160/mo per employee with a larger number. There's also some several thousand dollars of initial cost.
Disclaimer: My data is from an answer to a LinkedIn question several years ago, so it's oudated at best.
Re: Benefits matter, or why I won't work for your Y Combinator startup
#355Earlier quoted context omitted.
We've been generally happy with TriNet, and it's worth having a great benefit package and an HR call center. It's not free, but I think the math works out about the same way free meals do.
Same question on Trinet - since they also have no prices on their website - based on your experience, how do they charge (per employee, per transaction, etc) and how much does it cost, roughly? 100$/empl/mth, 1'000$/empl/mth?
About $150/employee/month, for almost all services. Of course if you elect to pay a portion of benefits (e.g., health care), that's on top as a pass-through. Certain special requests have a la carte pricing, but you most likely won't need them.
Re: Benefits matter, or why I won't work for your Y Combinator startup
#356Earlier quoted context omitted.
It isn't even life-changing money. It's most of a house here in Seattle, or a quarter of a house in the valley. That's nice, but not life-changing.
It could well be life-changing, depending on your circumstances and condition. There are parts of the US where it's a big house and almost enough to retire on, if you're lazy and willing to live cheap. It's definitely a few years of runway, if you've got an idea you want to explore. It's definitely a no-loan college education.
True. It's a couple acres, a nice trailer, and a lifetime of property tax and utilities in Idaho.
Re: Benefits matter, or why I won't work for your Y Combinator startup
#357Earlier quoted context omitted.
> ...while the 40-year-old is thinking, "kid, if I wanted to take on that kind of risk and insanity, I'd have your job". So what made that 40-year-old think he wanted to work for the startup in the first place? if the founder's position is too risky and insane for his taste, how is an employee position going to be any better? I mean, everything he's saying is true, and the take-away seems to be that 40 year olds with…
> if the founder's position is too risky and insane for his taste, how is an employee position going to be any better? The founder has upside potential to compensate for the risk. If the employee position has much less upside potential (i.e. equity), but just as much risk, it had better be balanced by higher compensation than you could get in a "stable, cushy job."
> " ... but just as much risk, ... "
Why just as much? It is often said that, but in reality it is not so. Employee risk is vastly higher.
Essentially an employee has 1) all the risk of a founder; 2) plus more uncertainty risk; 3) plus the risk of founders screwing up an employee stock options; 4) plus the risk of getting a bad reference from a founder who screw an employee up.
On "uncertainty risk". More uncertainty always means more risk. Founders have all the information and control over what is happening in the company, while employee only has indirect access to both. That means more uncertainty for an employee. And consequently more risk.
Also, consider employees and founders future career. Founder don't need good references from employees, and an employee does. That actually means, that an employee has take that into consideration as a risk. Should there be any falling out between an employee and a founder, than not only stocks options and position, but even future career of an employee can be impacted. That is a huge risk for an employee. And, it is not so for a founder.
Re: Benefits matter, or why I won't work for your Y Combinator startup
#358Earlier quoted context omitted.
You will probably find that some companies tries that regardless of where they are located. I doubt it is unique for any specific country.
imo I assign ownership of such policies to the founder(s) specifically rather than the nebulous concept of "companies".
Good point.
Re: Benefits matter, or why I won't work for your Y Combinator startup
#359Earlier quoted context omitted.
> I've been contracting for a long time Didn't you just say you are 24?
I'd call 4 out of 6 years working self-employed a long time for a 24 year old. Your snark isn't appreciated.
4 years is not a long time in any career. 4 years might be a long time to hold your breath or take a shower. But so far as working goes 4 years is a pittance. It may seem long since youre 24 and thats fine I suppose. I'm 27, so not much older than you, and I'm really not trying to condescend. Try to think with some perspective. Also, try to be less sensitive.
Re: Benefits matter, or why I won't work for your Y Combinator startup
#360Earlier quoted context omitted.
Because both Venkat's and Michael O's blogs are incredibly insightful and thorough on similar topics.
What's Michael's blog URL please?