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well-read undead posted:hey, here's something i wish i had known in the past: a big to-do is made about exercising ISOs not being a taxable event, but there's a big, fat caveat to this. you have to figure AMT for your regular income PLUS the "value" of your exercised options (this depends on the company's FMV, which they get to decide) and if it's larger than your normal tax liability, you pay it instead. AMT uses a lower tax rate but removes certain exemptions, such as ISOs fwiw my tax lady said that post-2017 this is only worth worrying about if you’re in the neighborhood of $1mil or more. if you’re really risk-averse you can early exercise to avoid it, but most people are going to recommend against that and i’d agree with them.
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Aug 18, 2023 14:28
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Was fig inflation particularly good just before the tech layoffs over the past year? I thought I was leading the pack and now I'm asking around and former coworkers have gone from exponential six and a half figs to linear, one half of a seven fig.
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Aug 18, 2023 15:06
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i have no idea what you are trying to say but yes tech salaries rose with the post covid employment boom
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Aug 18, 2023 15:39
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Dukes Mayo Clinic posted:you may value the options at 0, but make certain the IRS agrees with you before you commit. haha will keep that in mind i meant more in terms of its value as part of an offer negotiation
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Aug 18, 2023 18:22
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bob dobbs is dead posted:yeah, ive never dealt with a strike price above fractions of a penny per for like 10k, 20k shares, so me being in the money is basically if the company exists or not. existing is a 90th percentile result, good luck. if the strike is like a dollar you and i dont live in the same world interesting, so i heard back and the price for the options are in the 10s of pennies per share based on their last calculation im not completely sure how this should change my outlook. as you mentioned, theyre still basically useless unless the company continues existing
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Aug 18, 2023 20:54
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koolkal posted:interesting, so i heard back and the price for the options are in the 10s of pennies per share based on their last calculation ISOs have to be exercised within three months of leaving the company. If the share price is that high then we're talking about thousands of dollars to take the gamble on the company if you leave before an exit. And let's be real, unless an exit is imminent, you'll probably leave before the exit. This means ISOs from startups that have a FMV that high are basically always useless unless you become a lifer and get lucky with them exiting eventually. I know this first hand.
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Aug 18, 2023 21:17
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raminasi posted:fwiw my tax lady said that post-2017 this is only worth worrying about if you’re in the neighborhood of $1mil or more. if you’re really risk-averse you can early exercise to avoid it, but most people are going to recommend against that and i’d agree with them. this was i think in 2019 for me, and definitely under $1mil, so i’m suspicious of that info. also, i was misled by a tax professional into believing there would be no tax implications. i no longer use that tax professional
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Aug 18, 2023 21:23
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well-read undead posted:this was i think in 2019 for me, and definitely under $1mil, so i’m suspicious of that info. also, i was misled by a tax professional into believing there would be no tax implications. i no longer use that tax professional hmmm this sounds like something i should look into, ty
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Aug 18, 2023 21:57
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CompeAnansi posted:ISOs have to be exercised within three months of leaving the company. If the share price is that high then we're talking about thousands of dollars to take the gamble on the company if you leave before an exit. And let's be real, unless an exit is imminent, you'll probably leave before the exit. This means ISOs from startups that have a FMV that high are basically always useless unless you become a lifer and get lucky with them exiting eventually. I know this first hand. My non-listed series B company offers ISO that expire 3 months of termination and the execs are out of their mind about about much they're worth as comp. However, if you have them it might be worth exercising 1 in order to get shareholder notification rights of exit opportunities other than at IPO. For example, there was a series B investor that wanted to increase their investment and an offer was made to existing shareholders to sell at the series B price (which was more than the strike price). The option holders were not notified.
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Aug 18, 2023 22:27
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my last job offered ISOs at O(10 cents) a share and by the time I left a little under two years in i had exercised all of them to the tune of between 2-3k. Current FMV is around a dollar, series B closed about a year ago, it felt like an okay gamble to me I guess my question is, am I an idiot? In case of an exit, anything that's over a dollar is like a nice $15k surprise minimum. I know dilution is gonna happen, they doubled the shares with the Series B, but $3k on tech salary seems like an acceptable gamble to me so long as the exit is above like a quarter a share. To be clear, this does not offset the lost earnings from making $Series_A salary when i could've been making double that elsewhere
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Aug 18, 2023 23:09
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on a related note, doing a bit of reading and came across non-recourse financing where basically a company will pay for the cost to exercise the options (and tax liabilities?) and take on the risk of company failure while taking a good proportion of the upside if an exit occurs (~50% was a number I saw thrown around) part of it is tingling my scam senses but from the perspective of someone with the options, getting some upside with no downside does seem nice (assuming they look at the company and agree to make a deal) obviously not relevant to me anytime soon
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Aug 18, 2023 23:33
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I left a startup with options 25% vested with strike price around $1. I have a few months to decide whether to exercise. probably not gonna do it because it seems like 5-10 years for questionable payoff, and I got no confidence in the management
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Aug 19, 2023 00:36
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AWWNAW posted:I left a startup with options 25% vested with strike price around $1. I have a few months to decide whether to exercise. probably not gonna do it because it seems like 5-10 years for questionable payoff, and I got no confidence in the management I did this and 5 grand later I ended up with 350 shares of altavista and then 4 years after that I got $20 put on my 401k in a liquidation event
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Aug 19, 2023 01:39
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when i left my old job i bought all the options i could. they had a sale event around the same time so i ended up selling some to cover buying the others. then they IPO'd and all told it broke the six figgy mark (but only just). but i knew they were very close to IPOing; I wouldn't have bought those shares the strike price for the original grant was 2.something, my next grant was like $10 or $12. i know i wasn't fully vested on the second grant when i left, i dont remember if i was on the first or not. anyway i still have half those shares, i hope that they become meme stocks and go up uP UP
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Aug 19, 2023 02:20
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they’re always going to be a gamble and then you end up writing a 100k check to the state and feds for taxes hope the military enjoys whatever pew pew weapons they got with it
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Aug 19, 2023 10:02
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also I’m in an interview process 2 weeks before I leave the states for 2 months so lol hope I can negotiate a very late start date if I get an offer
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Aug 19, 2023 10:05
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JawnV6 posted:not disagreeing with your point but im gonna have a lil lol over the fact that ive literally written a letter on your behalf when a hiring decision wasn't firm  I guess I gotta stand corrected thenand also ty 
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Aug 19, 2023 21:44
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I reached out to a recruiter I had luck with in the past, and she sent me a posting for a blockchain job. How does anyone still have funding for this poo poo
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Aug 28, 2023 16:43
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Its a Rolex posted:How does anyone still have funding for this poo poo I’m reading The Big Short rn and one of the things that’s continuously surprising me is how long a grift can go on with all parties knowing it’s a grift before it finally collapses
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Aug 28, 2023 16:45
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Its a Rolex posted:I reached out to a recruiter I had luck with in the past, and she sent me a posting for a blockchain job. How does anyone still have funding for this poo poo look just because 60% of the unicorns have faced fraud charges and lawsuits doesn’t mean it’s not a great thing to invest in
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Aug 28, 2023 16:45
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Its a Rolex posted:I reached out to a recruiter I had luck with in the past, and she sent me a posting for a blockchain job. How does anyone still have funding for this poo poo A lot of the higher ups have gotten out at this point, but the companies still havent run out of their last round of funding. So there are a lot of VP/CTO/principal eng roles trying to get filled. They'd have to pay me _a lot_ of money in _US Dollars_ to take a role. Something like 5-10x multiple. Most of them are on the low end of the market.
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Aug 28, 2023 16:51
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put in that application for that job in the EU that I was looking at time for weeks of anxiety
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Aug 28, 2023 20:55
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I posted in this thread months ago, and I just posted in the thread in the BFC subforum over in Ask & Tell, but this thread is more directly related to what I'm looking for so I'm going to quote myself in case anyone in here has more specific advice:Tosk posted:I posted in here awhile ago. I'm wanting to break away from service industry/retail/poo poo jobs that I've been working through college and since graduating (I'm at the younger extreme of SA users I think, I'm 25). I have a BSc in Bioinformatics and I'm currently taking computer engineering courses at my local uni because I realized academia was not going to make me a happy person and I want to pivot into IT. As I mention there, I'm pretty much fresh out of uni as far as job experience goes, I worked in Python and R throughout my thesis project at a lab and for a few other projects, but I don't have professional experience. My uni courses for like DS and algo are in C# and I'm doing stuff on the side to make myself a github, do projects, try to learn a bit about more applicable languages and stuff, but yeah. Even the shittiest entry-level IT job in the US is going to make me a lot more money than one that pays in pesos where I live so I feel like I need to at least try to leverage the fact that I'm a US citizen. Thanks in advance if anyone has any advice to share! Headshotting my naivety is also welcome. Cheers
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Aug 30, 2023 22:05
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No idea if this is universal, but I can say for sure the last four companies I’ve worked for wouldn’t pay someone outside of the US in USD. Probably wouldn’t even jump through the hoops to employ somebody. My current company will no questions asked fire people if infosec finds out you’ve been working remotely from a foreign country for more than 2 days.
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Aug 30, 2023 22:15
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yeah, they're mostly clawing back the remote to be seniors only again, and lots of geographic restrictions
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Aug 30, 2023 22:21
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bob dobbs is dead posted:yeah, they're mostly clawing back the remote to be seniors only again, and lots of geographic restrictions i got the mandate that my next hire be in figgieland unless i'm willing to personally move to figgieland, in which case my next hire can be remote
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Aug 30, 2023 22:24
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i am a moron posted:No idea if this is universal, but I can say for sure the last four companies I’ve worked for wouldn’t pay someone outside of the US in USD. Different here. We're a canadian/dutch company; everyone who lives outside of canada or the netherlands gets paid USD. we have been about 50% remote since before the pandemic, so jobs like the OP is describing do exist. not very many entry-level ones, though. we hire a lot of Brazilians through this an agency called VanHack, you might want to look at it or something similar to get your foot in the door.
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Aug 30, 2023 22:37
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fair enough, I don't doubt that options will be scarce, but I suppose it can't hurt to complement my search for an entry level job where I live. Thanks everyone
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Aug 30, 2023 23:01
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if i'm being really honest, working in person with people for the first year or two is probably a big help. working remotely and working from home are great in a lot of situations, but when you're starting out i think a person in the same room that you can turn to and ask questions is pretty important.
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Aug 30, 2023 23:07
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yeah, I would prefer to find an in-person job where I live because I agree with you and a hybrid situation where I could go to the office at least a few times a week would be ideal. my motivations mainly lie in realizing that jobs in the US pay upwards of 2-3x what they do here and that the amount of positions on linkedin vs where I live, which has the population of a medium-sized state, might compensate or at least be equally difficult in terms of job hunting. also that having been born there, I wouldn't have to deal with visa requirements that I presume disqualify most people living outside the US, but I posted in the thread for a quick dose of reality and if the reality is that it isn't feasible, that's fine and what I wanted to find out
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Aug 30, 2023 23:22
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I think working for a US company medium term is a good plan but will echo that it's significantly easier to be hired for a remote role with a few years of experience at the specific role you're trying to be hired for. If you can get a hybrid situation locally that would be ideal, because you'll get the in person development as well as a bit of remote working experience. You might as well try to apply to whatever's out there, though, luck is always a big factor.
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Aug 31, 2023 02:27
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are you willing to move? larger shops will have a relocation budget, and they shouldn't mind too much since you're a citizen. but of course that might not be acceptable for you
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Aug 31, 2023 02:42
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nudgenudgetilt posted:i got the mandate that my next hire be in figgieland unless i'm willing to personally move to figgieland, in which case my next hire can be remote 
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Aug 31, 2023 03:50
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nudgenudgetilt posted:i got the mandate that my next hire be in figgieland unless i'm willing to personally move to figgieland, in which case my next hire can be remote Does your next hire also need to have all the necessary skills to replace you, or are you expected to handle that part of the transition?
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Aug 31, 2023 03:53
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nudgenudgetilt posted:i got the mandate that my next hire be in figgieland unless i'm willing to personally move to figgieland, in which case my next hire can be remote that's a lol
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Aug 31, 2023 04:06
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tk posted:Does your next hire also need to have all the necessary skills to replace you, or are you expected to handle that part of the transition? I did not understand the post until I read this, I thought figgieland was metaphorical 
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Aug 31, 2023 04:13
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I prefer the name "figsylvania"
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Aug 31, 2023 04:25
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hoping this is the last interview process i have to prep for for another 2-4 years. poo poo's exhausting, but at least if i get rejected i have stuff ready have my 3rd interview tomorrow and i leave for japan the next morning. might have to have an exec level interview there. namaste
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Aug 31, 2023 08:13
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rotor posted:I prefer the name "figsylvania" figgietropolis
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Aug 31, 2023 14:24
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i am a moron posted:I did not understand the post until I read this, I thought figgieland was metaphorical figgieland is not a state of mind, its urban norcal and seattle and nyc and austin and such
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Aug 31, 2023 14:27
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