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I'd appreciate any equity expectations for a senior counsel role at a late-stage start up in the Bay Area. TIA!

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There are so many moving pieces to equity. Don't take a job counting on it. And if you're going to, make sure you have a lawyer review the equity grant and appreciate that it will never amount to anything unless the company is acquired or goes public.

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Any % benchmarks?

I would not put much weight on it, which makes the percentage benchmark irrelevant. You should be happy with your comp excluding equity, and treat anything you get above that as a nice reward. If they tell you you're getting $50k in equity, I'd be very skeptical. It is really hard to tell what equity is actually worth due to dilution, the way the waterfall plays out, the necessity for a liquidity event and the complexity of valuing a private company. RSUs at public companies are totally different, as they're tradeable and you can place a clear value on them.

There are exceptions to the above, but they're limited, and if you're relying on them, you should get a lawyer involved that specializes in this stuff.

Check Lawyer Whisperer blog.

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