10 questions to ask after getting a startup job offer
Twitter needs help staying up. Maybe that help is you! But before taking that job offer — or an offer from any startup — Venture Hacks has 10 questions you should ask. We've condensed their list down from 1,250 words to a version you can read comfortably on your iPhone 3G before your next interview, below.
- Give me the offer in writing?
Good answers: “Yes,” and “Let’s work out the major points and we’ll give you a written offer."- How does my compensation compare to my peers?
Your peers: someone who joined at the same time and has the same title.- What are my options worth?
Know how many options you have and how they vest. You will have to pay for your options — an option strike price. High strike prices are more common due to high-valuation rounds (Facebook), founder cash-outs, and high 409A valuations.- What percentage of the company do my options represent on a fully diluted basis?
People think this number is important—it’s not.- Can I exercise my unvested options early?
Exercise options early to pay less taxes in an acquisition or IPO.- How much money do you have in the bank? How long will it last?
Investors call this runway. You have a job as long as the company has runway.- What was the company’s post-money valuation in the last round?
[Helps determine] the acquisition value of your options.- What are the investor’s preferences?
If the acquisition price isn’t greater than the investor’s dominate the board.- Would I hire the CEO and board to increase the value of my options?
Don’t join the company if you don’t trust the CEO and board to avoid opportunities to treat their stock better than yours.