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Originally Posted by blackize5
Anyone know anything about unloading startup equity in private markets?
Heh good luck. How long before your options expire?
Interesting announcement at my company regarding compensation. My company is folding our 15% bonuses into our base salary. So everyone gets an automatic 15% increase. What they are going to do instead of bonuses now is providing more equity for high performers.
In addition to that, they are adjusting salaries based on some 3rd party salary study that was done. Most of these studies had other participants, like Pinterest and Lyft involved. They are aiming to be at the 55% percentile of market rate. If you were being overpaid, you will get 15% increase in salary, no more. If you were underpaid, you were adjusted more than the 15% increase.
For example, if you are making 100k but the survey said you should be making 90k, you still would be making 115k after the salary adjustment. But if the survey said you were supposed to make 150k, you would get adjusted to 150k.
Got some mix reviews in regards to this. Some of my coworkers are pissed since they are thinking that now everyone will get paid the same at every level. The equity as the new "bonus" is really just paper money since no one really thinks an IPO is coming anytime soon.
Not sure how I feel about this. It's going to be hard to attract talent during new hire negotiations. Putting some arbitrary guideline of 55% percentile and not going budge on the base salary is going to get us 55% percentile engineers.
Will be interesting to see if I'm in the overpaid group. If that's the case, I won't be getting any raises in the near future unless I get promoted.