At a FAANG company my total (equity + base) comp is in the 300-400k range but the best offers I get at startups is ~140-160k w/ 0.0010-0.0040 equity.
Telling me that 0.001-0.004 of current equity pool (maybe-worth-something) > 150k cash now isn't usually convincing, especially if you have a lot of college debt and no safety net out of college.
This is just equity+base comp. I don't know how to price / factor in food, caltrain pass, healthcare, 401k matching, life insurance, discounts, performance bonuses, refreshers, and the fact that my job provides growth / would give me level match if I switched to a similar company (for example L5 SWE @ Google -> L5 SWE @ Facebook, vs VP of Eng at some startup -> L3 at Facebook...).
If you're good enough to get into Google/Facebook on a good team, it's scarcely worth it to join a startup as an early employee if you optimize at all for expected value.
That said plenty of FAANG employees feel limited career growth in the roles/teams they end up on, which is the main case a startup would look appealing. But also internal team transfers aren't that hard and you get to keep your nice comp.
One more datapoint: I have a friend who would totally work in startups despite high comp at a great company -- his blocker is US citizenship / worries for his family if the company goes under.
Telling me that 0.001-0.004 of current equity pool (maybe-worth-something) > 150k cash now isn't usually convincing, especially if you have a lot of college debt and no safety net out of college.
This is just equity+base comp. I don't know how to price / factor in food, caltrain pass, healthcare, 401k matching, life insurance, discounts, performance bonuses, refreshers, and the fact that my job provides growth / would give me level match if I switched to a similar company (for example L5 SWE @ Google -> L5 SWE @ Facebook, vs VP of Eng at some startup -> L3 at Facebook...).
If you're good enough to get into Google/Facebook on a good team, it's scarcely worth it to join a startup as an early employee if you optimize at all for expected value.
That said plenty of FAANG employees feel limited career growth in the roles/teams they end up on, which is the main case a startup would look appealing. But also internal team transfers aren't that hard and you get to keep your nice comp.
One more datapoint: I have a friend who would totally work in startups despite high comp at a great company -- his blocker is US citizenship / worries for his family if the company goes under.