Double your salary with this one simple trick
Salary Negotiations
- 📊 How Stock Works
- 💸 Startup Fundraising
We Need to Talk About Salary
Why is this so important?
| Level | Salary |
|---|
| Mid | $80,000 |
| Junior | $90,000 |
| Senior | $120,000 |
| Mid | $140,000 |
| Senior | $150,000 |
| Senior | $180,000 |
Negotiations are asymetrical
How you're looking at this negotation
- 🤑 That's a lot of money.
- 🤔 Am I really worth that much?
- 😕 What if they cancel the offer?
- 🤐 That money has to come from somewhere.
How they're looking at this negotation
- ✍️ I need to close this candidate.
- 🥪 I wonder what's for lunch today.
- ✍️ I need to close this candidate.
- 💰 I'm not spending my own money; I'm spending TechCompany's money.
- ✍️ I need to close this candidate.
I'm going to tell you the first secret of negotiating
It's a lot more money to you than it is to them.
It's a lot more money to you than it is to them.
Let's talk about five grand
What you're thinking
- 🏝 Damn, even after taxes that’s a whole vacation.
- 💰 Five thousand dollars.
- 💸 Seriously, Five thousand dollars.
- 😰 It would be so greedy of me to ask for five whole thousand dollars.
What they're thinking
- 😂 That's it?
- 🤣 I'm going to tell them I have to ask my boss.
- 🙃 Because then it looks like I'm doing them a favor.
Don’t talk money until they’re ready to give you an offer
Hard mode
Get them to say a number first.
Any number you say will be an immediate upper bound
any number they say will be a lower bound.
Let's wait to see if this is a good fit before we discuss comp.
Practice saying the biggest number you can with a straight face.
Their goal is to close you
anything that can prevent that is leverage.
Things you can do to get leverage
- 💰 Have a counter offer
- 🤔 Express concern about anything intangible: Start date, team, etc.
- 💰 Have a counter offer
- 😎 Still be actively interviewing elsewere
- 💰 Have a counter offer
Total compensation
Stock options are the option to buy stock in the future for today's price
Strike Price
The price you pay per share
Example Price: $0.10 per share
IPO day
Company is now worth $100 per share
Exercise your options
- 🛒 This is the process of buying your shares
- 💵 $0.10 ️✖ 10,000 = $1,000
🚨 Taxes
- 😭 You're going to pay taxes on the $999,000.
- 🧐 Make sure you can actually sell your options when you exercise them!
Vesting
- 💰 The process of getting your shares.
- 📅 Standard deal is 1/4 of shares after 1 year.
- ⏳ You join 01/01/2019, on 01/01/2020 you'll get 2,500 shares.
- ⌚️ After that it vests on some regular schedule (usually quarterly).
Shares (RSUs)
- 💰 These are worth something as soon as you get them!
- 🏢 Hopefully the company is public and you can sell them.
- ⏳ They usually vest the same way as options.
Bonuses
- ✍️ Signing - One time bonus for joining.
- 📅 Annual - Usually a percentage of your base salary.
Startup Funding
- 🙅♀️ Seed
- 🤷♀️ Series A
- 💁♀️ Series B+
🙅♀️ Seed
🤷♀️ Series A
💁♀️ Series B+
What are we optimizing for?
- 😄 Happiness
- 🤑 Money !== 😄 Happiness
- 🤑 Money == 🙃 Comfort
What else is important?
- 👩🏫 How much are you going to learn?
- 🚴♀️Work Life/Balance
- 🏝 PTO
- 👩👩👦 Parental Leave
- 🤕 My kid is sick, can i work from home?
- 🚃 Commute?
- 🏙 Do you want to live there?
Are there any moral quandaries with the work you're doing?
Dropbox Engineer
@MatthewGerstman
