How many of you had ESOP related promises by founders broken by them ? Could any of you appeal to their better senses and get any money or were you hung out to dry completely ??
I was shown dreams of Esops and Co-founder promises -> I left my well paying job -> I had to leave this new company as Esops nor co foundership got fructified
Sounds depressing. At least co foundership must have, that's in the hands of the founders.
I have managed ESOPs for companies. Many have come to me saying xyz was promised. The only reason they got what was promised orally if they are still relevant in the plan. If you can still contribute to the future growth. Else nada ; didn't promise; ignore him/her till they leave.
No founder gives away equity generously. If they are saying that then they are lying or stupid. There's only 100% of equity. Limited resource. So they are very careful in doling it out and they should be.
What should you do? Get what is pormosed for in writing, in contract immediately. Don't wait. Or keep having leverage/relevance and hope for the best.
ESOPs are dangled as a carrot and this is the case in most startups. It's dished out discretionarily and honoured even more discretionarily
I will go first -
It’s hectic as hell, but if you are passionate about the problem that specific startup is solving- it is really rewarding and exciting. But that’s just my opinion not everyone feels the same way about crazy work sched...
Wanted to know and understand the reality behind the terms and conditions that new startups puts while promising ESOPs at the time of joining.
Please share ur experience so that everyone gets aware.
Where did you work and how much money did you make?
Asking as it looks like a lot of promise of ESOPs and wealth creation has failed employees in this bloodbath slow growth, layoffs, and job changes.
I have had ESOPS in 2 companies #1 - company got acquired ..I got 45 Lacs IN ESOP ...thats 1.5X of my last annualize...
