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Started By
Message
Potential Job with a Start Up
Posted on 12/21/22 at 8:25 pm
Posted on 12/21/22 at 8:25 pm
I was asked to interview for a job with a startup that specializes in electrical charging infrastructure. I have a comfortable job in a Fortune 50 company so I was not actively looking for a new role.
I currently work remote and travel about 40-50% of the time. The new role is the same (at least what they claim) and would be the head of the department (IC role for now, but a team to follow) that has not had this job function (Health and Safety) before.
I have one more technical interview, but the hiring manager stated I was the preferred candidate and disclosed the salary range for the role which is ~40k more than what I make now and comes with some sort of bonus package and equity in the company (disclosed with the official offer).
This is all new to me as I came to my current company from another Fortune 50 (due to the pandemic). Has anyone ever risked it to join a smaller company? I am looking to see if anyone can lay out some pros and cons to see what I might be missing. I can easily remain in my current role, but there is some excitement with building my own program (I specialize in this industry). I am obviously concerned with the volatility of a start up, but they are backed by two large infrastructure equity firms.
I currently work remote and travel about 40-50% of the time. The new role is the same (at least what they claim) and would be the head of the department (IC role for now, but a team to follow) that has not had this job function (Health and Safety) before.
I have one more technical interview, but the hiring manager stated I was the preferred candidate and disclosed the salary range for the role which is ~40k more than what I make now and comes with some sort of bonus package and equity in the company (disclosed with the official offer).
This is all new to me as I came to my current company from another Fortune 50 (due to the pandemic). Has anyone ever risked it to join a smaller company? I am looking to see if anyone can lay out some pros and cons to see what I might be missing. I can easily remain in my current role, but there is some excitement with building my own program (I specialize in this industry). I am obviously concerned with the volatility of a start up, but they are backed by two large infrastructure equity firms.
6
Posted on 12/21/22 at 8:42 pm to TheDeathValley
The first question I'd ask is what does their funding look like. Have they gotten seed, or series A, B, C? Or are they just building up from scratch?
What size startup? Like 10 employees, or 200 employees? What is their customer base and revenue like? How crowded is the space they operate in?
After those questions, then I'd turn inward and ask about your family and time to retirement. Are you on your own or do you have people to provide for? How long until you are planning to hang it up?
What size startup? Like 10 employees, or 200 employees? What is their customer base and revenue like? How crowded is the space they operate in?
After those questions, then I'd turn inward and ask about your family and time to retirement. Are you on your own or do you have people to provide for? How long until you are planning to hang it up?
Posted on 12/21/22 at 8:47 pm to TheDeathValley
EVGO?
I joined a smaller tech company but they were public already so I had good insight into their financials and growth trajectory. It was worth it for me because the stock took off and my equity doubled in value from when I started. It also opened the door for me to move to the larger tech company I work at now and my compensation has literally doubled over the last 3 years.
I say take the risk and the extra money. Also, something I didn’t know to do with my first tech company was negotiate the equity as well as the salary. I only negotiated the salary and left a good amount of money the first go around. The 2nd larger company came up 40% more on equity after I countered.
I joined a smaller tech company but they were public already so I had good insight into their financials and growth trajectory. It was worth it for me because the stock took off and my equity doubled in value from when I started. It also opened the door for me to move to the larger tech company I work at now and my compensation has literally doubled over the last 3 years.
I say take the risk and the extra money. Also, something I didn’t know to do with my first tech company was negotiate the equity as well as the salary. I only negotiated the salary and left a good amount of money the first go around. The 2nd larger company came up 40% more on equity after I countered.
Posted on 12/21/22 at 9:06 pm to TheDeathValley
My last decade more or less has been Seed round startup to global corporate job to Series A company and now healthy Series B company.
There's risk in everything, but if you catch the upswing at the right time it can be very fruitful.
Personally I wouldn't get involved in a pre-seed or seed round company. Even Series A companies would be scrutinized significantly.
There's risk in everything, but if you catch the upswing at the right time it can be very fruitful.
Personally I wouldn't get involved in a pre-seed or seed round company. Even Series A companies would be scrutinized significantly.
Posted on 12/21/22 at 9:11 pm to Sterling Archer
quote:
EVGO?
Here is an article about the business. I believe they have 50-100 employees currently.
LINK
quote:
After those questions, then I'd turn inward and ask about your family and time to retirement. Are you on your own or do you have people to provide for? How long until you are planning to hang it up?
Married, two young kids, 30 years before retirement.
This post was edited on 12/21/22 at 9:13 pm
Posted on 12/22/22 at 5:50 am to Thundercles
Great questions Thunder
Been in the start up space for a while. It’s not the best time to get into a company that is just ok in the funding and valuation.
All I know is the fintech side and it’s getting killed right now
Been in the start up space for a while. It’s not the best time to get into a company that is just ok in the funding and valuation.
All I know is the fintech side and it’s getting killed right now
Posted on 12/22/22 at 7:08 am to TheDeathValley
Biggest concern is job stability. Do your research to decide if their prospects are worth the risk, or if your total compensation is worth the risk. Vesting period on equity is important - if the company takes a bad turn in 2 years, can you sell? Or are you stuck for 4 years
Posted on 12/22/22 at 7:19 am to Upperdecker
Idk man my friends company went outta business and he got 5 months severance
I’ve never been off work for 5 days much less 5 months. Sounds tight tbh
I’ve never been off work for 5 days much less 5 months. Sounds tight tbh
Posted on 12/22/22 at 7:50 am to TheDeathValley
“Fortune favors the bold.”
Of course, the quote was used in a crypto commercial so caveat emptor.
“Independent contractor” has to meet some checklist from IRS. They have to show that you control when and how you do the contracted work.
Maybe you can start part-time?
Of course, the quote was used in a crypto commercial so caveat emptor.
“Independent contractor” has to meet some checklist from IRS. They have to show that you control when and how you do the contracted work.
Maybe you can start part-time?
Posted on 12/22/22 at 8:31 am to TheDeathValley
I was let go from a Fortune 50 (vax) a year ago and joined a startup as the first hire. We've grown to 8 people. No funding. Profitable from day 1.
It's been great. Role feels important. Get to influence things along the way. I'm tied into profitability and growth. I'm involved in the hiring decisions.
I'm making more money than I was, working much harder than I was, and have way more fun than I was. For me, as a hungry guy it was perfect timing. Looking back now, the major corporation route is a great way to go to get started and build your resume, but now that I'm in a small company, I'm never going back.
It's been great. Role feels important. Get to influence things along the way. I'm tied into profitability and growth. I'm involved in the hiring decisions.
I'm making more money than I was, working much harder than I was, and have way more fun than I was. For me, as a hungry guy it was perfect timing. Looking back now, the major corporation route is a great way to go to get started and build your resume, but now that I'm in a small company, I'm never going back.
Posted on 12/22/22 at 8:35 am to Penn
Tech has plenty of froth, so it's no surprise it's happening in the space. We see it in logistics all the time. Especially seed funded companies. Eventually you have to turn, you know, a profit.
Most of these programs, systems, and dashboards are completely useless. They are just re-enginerred versions of the same thing that excel can do with a prettier user interface.
Most of these programs, systems, and dashboards are completely useless. They are just re-enginerred versions of the same thing that excel can do with a prettier user interface.
This post was edited on 12/22/22 at 8:39 am
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