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Benefits matter, or why I won't work for your Y Combinator startup

mhalligan.com

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Re: Benefits matter, or why I won't work for your Y Combinator startup

#11

Post by nthj »

vhiremath4 wrote: post #10
_hgt1 wrote: post #3

The entitlement culture in the tech industry is mind boggling. One day we may look back and wonder how we ever had it so good. Perhaps we'll even envy the person paid $1 per day to suck the gold off our old circuit boards.

People in tech don't realize just how lucky they are. I'm 20 with no wife or kids, and I'm making more per year than certainly almost all of my friends will be making after they choose to actually finish college and get a salaried job. However, I'm told by people that myself and my colleagues are getting underpaid (we work at a startup). Ridiculous.

> However, I'm told by people that myself and my colleagues are getting underpaid (we work at a startup).

That's how “market rate“ works. A profession's salary has nothing to do with what you deserve and everything to do with how your specific combination of skills are valued by the free market.

Re: Benefits matter, or why I won't work for your Y Combinator startup

#12

Post by pnathan »

_hgt1 wrote: post #3

The entitlement culture in the tech industry is mind boggling. One day we may look back and wonder how we ever had it so good. Perhaps we'll even envy the person paid $1 per day to suck the gold off our old circuit boards.

How is this entitlement? He's rationally comparing total compensation packages and choosing the one that benefits him the best. This is something that even high schoolers working crappy unskilled jobs do. They look at the market and pick the job they feels the best suited for them.

Yes, this particular individual gets well compensated compared to many. So what?

Re: Benefits matter, or why I won't work for your Y Combinator startup

#13

Post by johndavi »

It's really not (only) that "benefits matter," but that this kind of comprehensive yet simple calculus is missing when most people consider a startup gig.

Whenever I lost or was on the verge of losing an employee to a startup, it was pretty convincing to walk them through what "hey, you get a whole percent of the company!" really means, even in a nine figure acquisition... and then compare that totally-at-risk, totally unlikely result (as the OP does) to the much better, and not-at-risk, salary + bonus from Large Company.

Difference is of course when you pick that lottery winner and 1% post-dilution is actually something. And that's what everyone's playing, right?

Re: Benefits matter, or why I won't work for your Y Combinator startup

#14

Post by khuey »

vhiremath4 wrote: post #10
_hgt1 wrote: post #3

The entitlement culture in the tech industry is mind boggling. One day we may look back and wonder how we ever had it so good. Perhaps we'll even envy the person paid $1 per day to suck the gold off our old circuit boards.

People in tech don't realize just how lucky they are. I'm 20 with no wife or kids, and I'm making more per year than certainly almost all of my friends will be making after they choose to actually finish college and get a salaried job. However, I'm told by people that myself and my colleagues are getting underpaid (we work at a startup). Ridiculous.

You can be simultaneously underpaid and making significantly more than your friends ...

Re: Benefits matter, or why I won't work for your Y Combinator startup

#15

Post by michaelochurch »

_hgt1 wrote: post #3

The entitlement culture in the tech industry is mind boggling. One day we may look back and wonder how we ever had it so good. Perhaps we'll even envy the person paid $1 per day to suck the gold off our old circuit boards.

The "entitlement culture" known as "management" in most organizations has been mind-boggling for decades. One day we may look back and wonder how we resisted the temptation to blow our brains out amid the nonsensical executive meddling. Perhaps we'll even pity the person paid $100 per day to babysit children, previously a high-ranking executive deploying that same skill set.

There's a problem with "entitlement" in business. It's on the other side of the desk.

Re: Benefits matter, or why I won't work for your Y Combinator startup

#16

Post by ccarter84 »

coolsunglasses wrote: post #2

Based on how he's valuing his PTO, he's valuing his time at either $328, $218, or $447 per diem. I hope he's not valuing his PTO based on the salary he's getting. I'm a 24 year old with no college degree and I currently cost about $800 per day on contract. (Not hypothetical, billing at that rate right now.) I'd rather make twice as much money consulting, pick my own damn healthcare plan, go to whatever conferences I…

cool story bro'

Re: Benefits matter, or why I won't work for your Y Combinator startup

#17

Post by selectout »

danso wrote: post #6

> Though they brag about their "Unlimited Vacation" (today's buzzword), they offered only 15 days of PTO, standard for any professional job in the United States. Has anyone ever tried to take advantage of "Unlimited Vacation" at an early startup? I mean, sincerely tried to invoke that contractual promise as a way to take 3+ weeks consecutively?

Not me personally but an engineer at my current startup is taking 5 weeks off but the typical "Unlimited Vacation" also mentions as long as you get your work done. So they will be taking 5 weeks off traveling the world, but they are still getting work done (not the typical hours by any means, but getting what needs to be done accomplished).

Re: Benefits matter, or why I won't work for your Y Combinator startup

#18

Post by coolsunglasses »

ccarter84 wrote: post #16
coolsunglasses wrote: post #2

Based on how he's valuing his PTO, he's valuing his time at either $328, $218, or $447 per diem. I hope he's not valuing his PTO based on the salary he's getting. I'm a 24 year old with no college degree and I currently cost about $800 per day on contract. (Not hypothetical, billing at that rate right now.) I'd rather make twice as much money consulting, pick my own damn healthcare plan, go to whatever conferences I…

cool story bro'

I know the point you're making, but let me make clearer the point I'm making:

He thinks he's doing himself a favor and getting what he's "worth", but that doesn't seem to be the case.

Re: Benefits matter, or why I won't work for your Y Combinator startup

#19

Post by bijanv »

_hgt1 wrote: post #3

The entitlement culture in the tech industry is mind boggling. One day we may look back and wonder how we ever had it so good. Perhaps we'll even envy the person paid $1 per day to suck the gold off our old circuit boards.

There's a difference between the type of tech job as well (cushy 9-5'er with few responsibilities or YC 100+ hour job). I don't think he's being very unreasonable for the work hours and dedication involved with getting a startup off the ground actually!

Re: Benefits matter, or why I won't work for your Y Combinator startup

#20

Post by seeingfurther »

Every thing comes down to risk vs reward. Founders risk it all to found companies and rightfully have the greatest reward. Startup employees haven't risked as much but their risk is compensated with appropriate equity the earlier they join and the more risk they take on in the form of lower salary and benefits. YC definitively reduces risk and increases the potential for reward. It's easier for YC companies to raise funding (allowing them to pay market salary and benefits faster) and they have been vetted so we can assume the idea and team have a better shot at success. If you want to work in startups, working for a YC company is a better risk vs reward scenario as compared to a non-YC company. In regards to the post, just ask for more equity in scenario 1. IMHO the first 10 engineers should roughly own all of the "20%" first round option pool and should be able to get the company to an exit, massive profits or the next round. EDIT: last sentence for clarity.
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