Looking for advice on pay/ESOP at a new firm
I'm switching PM jobs from my existing company (Series E unicorn) where I had a good ESOP policy to a smaller company (just past Seed stage, raising Series A). Weirdly, they're not offering me a proper ESOP package (vague figures, no useful $ values mentioned in the offer) even though the salary offer is pretty good. Company culture is good & team seems happy during my interactions. Should I be worried? Any suggestions on how I can approach this convo with co-founder are welcome too.
Smurfminion
Stealth
2 years ago
Which company are you switching to?
Prefer not to disclose atm. I work in a slightly niche space within Fintech.
Smurfminion
Stealth
2 years ago
That's fair. I'm also looking to switch so just wanted to know which co's are still hitting
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Words aren’t enough when it comes to money matters.
Ask them for valuation they had, esop pool size, how much percent equity, number of shares, vesting period, holding period from grant date and everything under the sun
Vesting period is the only thing that's clear, because they're following the regular 4-year with 1-year cliff format.
Everything else is fuzzy. I got the feeling they're reluctant to offer employees equity, but I don't know what that says about the mgmt.
Not sure if it's a red flag, or just their preferred way of building the start-up.
Anyways I think 1y will be cliff, if they don’t want you to have equity then they can fire you anytime
Indusplateau
Stealth
2 years ago
Given that i had worked at seed /A, the fohnder believe that you prove your worth and then ask for esop in the next appraisal cycle. Plus you can ask for additional esop or leaner or faster vesting if they dont compensate for esops in year 1.
Also, at that stage the documentation on esops is shabby, so you have to follow up multiple times to have something clearly written.
Indusplateau
Stealth
2 years ago
Welcome, could tell your PM YOE and did you get a title jump?
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