Rejecting a 44 Lacs offer because it’s from a startup
I recently got a 44LPA offer from a “high-paying” startup, which I’m planning on declining.
YOE - 2.7, Degree - B.Tech (CS) from an IIT.
My current yearly TC - 51 (base 24, RSU 27 yearly). And as you can see the pay is very stock skewed.
I got an offer of TC - 44 (base 36, annual bonus - 6, JB - 2), but it’s from a startup. I have been hearing really bad things about it and to be fair the offer letter is a complete mess.
Overall it’s throwing a bunch of red flags and WLB might be screwed along with my mental health and financial stability (might get fired any day).
Do let me know if I’m taking the right decision here.
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Jumping from company to company just for better pay will not serve you in the long term. Companies will also look for continuity on the resume - do you keep switching often or not. So if it's just pay, I'd suggest stay. Unless it is that current company doesn't have a great role, boss, culture or growth prospects which the startup has.
Speaking from having been in the industry for many years and also having taken 200+ interviews for hiring for my team.
Hii , will u pls spare some of your thoughts with me , I need a tip to get my first job
Bruh how is your RSU 27 yearly at Oracle? That is mad. Which startup? I can probably help advice you if you need it
Good grants, good raises and good promotions I guess. A little bit of luck ofc.
I don’t want to disclose the name of the startup.
But it’s in the healthcare domain
Makes sense why you made this decision specially if the RSU is of actual 'real value' and not just notional. Your CTC in that case is already 51
kudos :)
Oh no, the RSUs are real cashable money, except they are vested yearly and it takes around 3-4 days to get the money into my bank account if needed.
Thanks for your advice.
You have taken the right decision. Everything is not about money
L3 or L4?
Oracle has IC levels, not sure how they align with Google L levels.
As per levels.fyi, IC-3 which is what I got promoted to 4 months ago corresponds to Google L4, so probably it’s L4.
The current salary seems much better. Stocks aren't taxable unless sold and based on your post it seems you get 27 lakhs RSU yearly not for a particular amount of period. If this is the case, the current salary structure is so good compared to the offer you got. Joining this startup, if you're certain this would mess up your life's WLB and has a very low job security it's better to stick to your current job as once something is messed up, it takes more time to recuperate and heal from it completely. Especially, the layoff is something that might ruin your career in an unexpected manner due to the current market scenario.
I think it's 27 vested over 3 years so comp is actually 33L ctc. This is a common misconception and illusion that recruiters sell. I say take the offer, money in hand always beats the two in bush.
36 base at 2.7 yoe is very good man but better stay at Oracle I know some seniors who became crorepati within 4 years at Oracle because of 600rsu .
😂
Good call. Better to be safe than sorry.
I couldn't understand the point of sharing this ? At one point you go into sweet details of what you have been offered. Then you clearly reject it. But the next next line you want someone else to make a decision for you. All of this is expected out of readers without even an iota of data about the job profile and the company.
Awesome 👍
😂 I got many answer dude, a lot of people have responded positively. I hope you have a good day, sorry if my post annoyed you, I truly am.
I didn’t want anyone to make a decision for me, I was just asking for advice from community.