During rough or uncertain economic times, risk tolerance declines in favor of job security.
How have the last few months affected your interest in joining a startup?
Thanks!
Ask HN: Are you now less interested in startup jobs?
1–6 of 6 posts
Re: Ask HN: Are you now less interested in startup jobs?
#2None.
Eleven startups. Net value of options: zero.
Plenty of exits, but thanks to preferences overhangs, zero value for employee stock options. Yes, got decent salary, but not FAANG level.
VCs may be able to write off 1/3 of their investments, I can't. Stop conning employees into accepting lower salaries in return for stock options.
Re: Ask HN: Are you now less interested in startup jobs?
#3None. Eleven startups. Net value of options: zero. Plenty of exits, but thanks to preferences overhangs, zero value for employee stock options. Yes, got decent salary, but not FAANG level. VCs may be able to write off 1/3 of their investments, I can't. Stop conning employees into accepting lower salaries in return for stock options.
I'm curious, can you define what you viewed as a decent salary, either as a range or percentage of market?
Re: Ask HN: Are you now less interested in startup jobs?
#4None. Eleven startups. Net value of options: zero. Plenty of exits, but thanks to preferences overhangs, zero value for employee stock options. Yes, got decent salary, but not FAANG level. VCs may be able to write off 1/3 of their investments, I can't. Stop conning employees into accepting lower salaries in return for stock options.
I'm curious, can you define what you viewed as a decent salary, either as a range or percentage of market?
For my region, $150-175k, engineering. Last startup I worked at (>1 year ago) paid $120 + roughly 30k in options (so, divided $30000 by strike price resulting in N options). Company exited for 5x venture funding. Options were effectively worthless as one of the venture rounds had a 2x participating preference. Acquiring company offered same salary, no equity. I would have been better off quitting the startup and applying for a new role at the acquiring company as they were paying other engineers comparable to me $165.
The founders did ok, the investors did great, the typical employee (I was not first but was in the first 100) pretty much got screwed.
Re: Ask HN: Are you now less interested in startup jobs?
#5None. Eleven startups. Net value of options: zero. Plenty of exits, but thanks to preferences overhangs, zero value for employee stock options. Yes, got decent salary, but not FAANG level. VCs may be able to write off 1/3 of their investments, I can't. Stop conning employees into accepting lower salaries in return for stock options.
You've worked at 11 startups?! How long have you been in the industry?
Re: Ask HN: Are you now less interested in startup jobs?
#6None. Eleven startups. Net value of options: zero. Plenty of exits, but thanks to preferences overhangs, zero value for employee stock options. Yes, got decent salary, but not FAANG level. VCs may be able to write off 1/3 of their investments, I can't. Stop conning employees into accepting lower salaries in return for stock options.
You've worked at 11 startups?! How long have you been in the industry?
~20 years, several of those startups barely managed to survive a year. I started at a more traditional tech company and got recruited to a startup after a couple of years.