Stay away from ESOPs tuchiyapa :)
One of my friends was working with Unacademy, & contributed well in Business/Revenue - first got into a bad culture and decided to exit. Joined another company and got back to back notices from the last org and also a notice on Cancellation of vested ESOPs. Kat gaya bhai ka! Stay aware guys :)
Indian ESOPs are a big no. You have a better chance of hitting a multibagger stock than getting even 1x returns on the total ESOP value.
99% Indian companies will scam you out of your ESOPs or make it worthless for you to exercise them.
True, at least for the new age of startups! Or the one where the CEO doesn't hold any control!
LetUsC
Stealth
a year ago
Yes. The early engineers are given less than O.05%.
And a lot of crap is said about transparency and how valuable everyone is.
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TheOatmeal
Stealth
a year ago
Why notices from last org?
TheOatmeal
Stealth
a year ago
🥹
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Unless the esops are of Flipkart or phonepe. Or possibly cred too were the buyback is done regularly
Exactly. Yaha Bellandur/ORR ke property rates badh gaye hai Flipkart ke ESOPs/shares buyback se aur logo ko abhi bhi equity ownership mazaak lagta hai.
I only regret not working for Flipkart when I started my career.
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People who haven’t made nay money off ESOPs will always disbelieve it. Just like how older generations thought about stock market as gambling. LOSERS are the ones who don’t take a bet.
As a matter of fact, I had my esops liquidated by Unacademy while I worked there and very proudly so. It is the ONLY wealth creation instrument a salaried person can have, so please don’t disregard it or else forget about early retirement or entrepreneurship or massive upgrade in standard of living.
I was not talking about making money out of ESOPs, what I posted was about the culture Unacademy is creating & how they are cancelling the vested ESOPs!
Unacademy’s policies related to ESOPs are very transparent and just.
If a cancellation must have happened, there would be specific reasons for it.
Obviously if a senior leader (assuming senior because of vested ESOPs of good amount) will join a rival company by not honouring the non-compete then actions will have consequences.
Non-compete is not enforced by law in India but good faith can be expected by all, especially people whom a company is making wealthy through equity representation.
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RashWorld57
Stealth
a year ago
Aren't non competes non enforceable? How can companies cancel ESOPS based on something that's non enforceable?
