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$1m in VC capital is not a lot of money lol. Take the cushy $350k job and bank those dollars until you inevitably get laid off in a few months
Lol so $1m in VC capital couldn’t pay the other salary if that was the only expense and you were the only employee for even 3 years
Basically a complete garage startup
Not necessarily bad - but just so you know what you’re signing up for…
Absolutely the $350k job. Hard to get a higher paying job in tech right now, but it's cyclical... if you can hang onto your role for a few years the startup and tech market might be booming again and you can level up. Maybe get some other skills in the meantime.
In finance it'd be a major conflicts issue to work 2 competing jobs and I imagine the same in SWE. I wouldn't take two jobs without clear disclosure to both firms.
$1M in VC is pennies especially being given little equity ownership. That might be worth the gamble and few years of eating ramen if you were the founder and had 50%+ ownership but in the current state I would forget about it in this startup environment. Funding is going to continue to be incredibly hard to come by in the next few years. Timing is everything in startup land and this is terrible timing.
Maybe, I've heard the argument that very early stage capital is as easy as ever to get, since the time horizon in so long. Supposedly its not more difficult to raise seed/series A right now
VC funding has definitely dropped from last year. Higher rates and constant cries of impending recession definitely have people pulling back. Any firm with floating rate debt is also going to be scrutinized a lot more heavily than they were in the past.
If it was more than 1mm I’d say go that route. better shot at getting rich owning part of a startup than working a salaried job
$350k won’t get you rich?!? F off bro. You ARE rich if you’re making $350k…and you will be very rich if you make that for a decade or more and invest wisely.
You can barely afford a 1.5M dollar house on 350k. Which yeah is expensive, but thats a decent home in a lot of major metro areas. 350k with a family is not wealthy, you really need to save aggressively for that money to stack up meaningfully.
for those making $350K per year...
This is so dumb. Of course you need to save. No one is wealthy on the back of a single year's salary! Since you're talking VC, lets assume you live in San Francisco. Your take home pay is going to be like 215k. A two bedroom seems to rent for ~4,000/mo. Call it 50 grand a year. If you save 75k every year and make a pretty reasonable 7.5% return, you're going to end up pretty damn wealthy. That is assuming no raises, no bonuses, no nothing. Also assuming your spouse doesn't have an income.
This idea that you should expect to be worth 8 figures by the time you're 35 is absolutely insane. You are chasing some one in a million moonshot to become hyper wealthy at a very young age, when you're staring down the barrel of an insanely high salary which will absolutely give you a ton of financial freedom by the time you get anywhere close to middle age!
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20% equity for an employee? WTF is this? We have allocated 10% equity for the entire key employee pool at my company. I think you need to understand what is actually going on here.
After having read the comments here is seems like none of you have any understanding around equity distribution in the start up world.
Its a founder level opportunity
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