Director (CL5) here and have been offer a VP Sales job at a Series A fast-growing startup. Gross salary (fix/variable) is the same but comes with additional $120k equity grant (vesting over 4 years independent of performance).
The startup valuation is around $60M at the moment (guessing from recent Series A funding) and believe could become a unicorn in next 4-5 years.
Would you take the new job? Why?
Or would you stay at Accenture and ask for additional stock comp to keep you happy?
Rising Star
Commenting just to express my concern of a startup which would consistently increase its value in ~100% each year for the next 5 years to just barely become a unicorn.
Specially in these times
Take the job. You can always go back to accenture
120/4 = 30. Not that much. You are really banking on that valuation and your equity not getting diluted.
No. It’s a potential bonus for top performers
-120k in equity at a series A company in this environment doesn't seem to justify the additional risk. And although it would be much more valuable IF it became a unicorn, how would dilution impact it?
-When is the current valuation from? Getting 120k at a 60M valuation from January, which could still be considered recent as you said, is a bad deal.
-What is variable comp like, given that you will have a sales role? Is that variable comp feasible? Are you ok with doubling your sales target each year to support a growing valuation? Even if you're not a direct salesperson, as VP of sales, this would impact you in some way.
But more broadly, what's your risk appetite, desire to stay in consulting, and your odds of advancing at accenture? If you're tired of consulting, a CL5 unlikely to make MD, you have no family to provide for, and you have no better realistic opportunities, maybe you should roll the dice and see what happens.
That’s not much equity at all. I joined a Series A startup from CL9 at Accenture and got that much. We then raised our series B with a high 9 figure valuation. All that to say 120k at CL5 seems like nowhere near enough equity
It should be atleast 100k per year to justify the move and atleast 100k joining bonus in this environment
Thinking as i type...
If youre looking for a change, do itttt.
Want to try something cool/new, do ittt.
If you need to be convinced,
If you're on track for MD and get the grant, isn't it 5 years to vest? So their 120k in 4 seems like it comes close or matches that.
What are the Benefits like- insurance, 401k fees/match, pto, etc? Does it even matter for you?
Like BAH1 said, you could always boomerang in a few years.
Rising Star
Hell no. Totally different environment.
Rising Star
Not sure what your base+Bonus is but what is effectively an extra $30k a year doesn’t strike me life changing money. It also makes it pretty easy for the co to freeze your como over the vesting period.
Startup stock is rarely liquid