Would love advice on an offer! Series A, raised $35M in April, valuation $120M. Offer for VP role, Head of X (operations, growth, etc). Managing 25 ppl and growing fast. Report to CEO. I’ve been at mck 6 yrs, newish AP. Initial offer from them: Total cash comp $260k (base+bonus). 0.75% equity. That’s as far as the convo has gone so far. It’s my first time recruiting for a role w equity. Advice on if this sounds attractive? Lowball? How to approach the next convo (where to push)? Thanks a ton!

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So the equity is valued at $900k? I'm not sure how equity works either. How does one cash out the equity?

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That’s pretty fair tbh

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For a startup it’s better to think of the % equity rather than the dollar value. Anything more than .5% is really good with that valuation.

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Pretty high cash comp for a Series A startup

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Can you try to negotiate more equity? Also what are the equity vesting terms?

funny

Don’t know vesting terms yet, this was first set of details provided by recruiter. Wondering if this feels calibrated, high/low in certain places. Just have no pattern rec here

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Assume you stay for 4 years and the equity does not increase at all, your effective TC per year is 260 + 900/4 = 485, that’s still a great deal vs. AP comp. I assume if the startup is successful, the value of your equity can increase very significantly?

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Also need to assume company fails. What is the probability of that outcome? Easy to do effective comp calc.

Vesting period? I don’t have a good sense of what % is valid but my friends who left for startups made sure to figure out the timeline (not all startups make it, even if it seems promising)

Vesting terms in startup land are usually standard. It’s vested over four years. No vesting until you reach the one year mark (then proportional vesting on a monthly basis).

Note: As you raise subsequent rounds, more stock will be issued and your % equity declines; though # of shares allocated to you will obviously remain the same.

Congrats OP. Just curious, wouldn’t taking a shot at making P at McKinsey pay off more in future?

Aren’t you 2 years away from it if all goes well?

My cousin got an equity position at a startup and they went bankrupt.

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