Startup founder, trolled for not tipping in US, has this advice for your salary | Trending
Indian YouTuber Ishan Sharma, who recently went viral on social media after he slammed the tipping culture at US restaurants, has shared one crucial make to avoid when finalising your salary when you join a new workplace. He revealed that the $120,000 promised to him in stocks came with a tw.(LinkedIn/Ishansharma7390) “Want to work at a startup? Avoid THIS make!” wrote Sharma, who is a startup cofounder, in a post on LinkedIn while sharing a video. “It’s super important to understand the breakup of your CTC, what percentage is in hand, what’s the ESOPs, how much is the rent allowance, and does the in hand really make sense in comparison to the cost of living of that city,” he said. (Also read: YouTuber who went viral for tipping row turns attention to ‘elit treatment’ at Delhi’s most expensive mall) Watch the viral video here: Salary with a twIn the video, he talks of the one make no one should make when they negotiate the salary for a new job, especially at a startup. He turns his camera to another man who shares his story about his first job after college at a startup organisation. “Right after college, I got a job offer from a startup. They were offering me $120,000 base salary in Silicon Valley and $120,000 in stocks. I thought it was the most amazing opportunity because it meant I would end up with $240,000 in a year,” he said. He revealed that the $120,000 promised to him in stocks came with a tw. “I quickly realised that the $120,000 in stock will be given over four years,” he said, explaining that it meant $40,000 more a year which made his total annual salary $160,000 not $240,000. Further, the $40,000 in sticks was unvested so it had no value in a startup, he explained. “So, I was only getting $120,000 in a year,” he said, adding that after deducting rent and tax he was barely left with any money to save. (Also read: Indian man sparks a row leaving only 10% tip in US restaurant, claims waiter kept his balance amount) “Lucrative offers with grim details”He advised all freshers to learn how stock vesting works before joining a startup that offers it as part of your salary. “120K USD per year might sound great but if you’re living in San Francisco downtown, it’s not enough to live comfortably. Lots of companies device lucrative sounding offers with grim details. Startup ESOPs might not materialise all the time into $$$,” Sharma wrote in his post. As most LinkedIn users in the post’s comment disagreed with Sharma’s grim warning, many opined that for a fresher’s salary the amount of the base pay was good. “I don’t think tax is that much. Please share the breakdown. Also people usually get 70-80K$ when join as fresher. 120k$ looks good,” one user said.
