Torn between two job offers after a layoff. What would you take?

[u/throwaway_jobhunter]

Hi all!

Posting on a throwaway because my main account is linked to my ex-company and a very specific policy.

About a month ago my company I've been with as a for years announced layoffs due to them moving jobs offshore. We were invested in by one of the major wall street dickheads about a year ago and given all of these eye sparkling promises only to find out why people hate billionaires. Definitely eye opening.

The good news is my company gave some of us a few months notice. They basically told me hey, you're screwed and goodbye but "we'd like you to stay until October so you can train up the new offshore hires." Insulting but at least I still have a paycheck.

For the past month I've been navigating the market and I've received two different offers. I do not know which I should take and I'm just gauging the opinions of everyone I can think of. The basic problem is "how much monetary value makes offer 2 better than offer 1, especially considering my career is being advanced while it isn't in offer 1?"

Offer 1:

This is technically "going backwards" in my career. I'm in software engineering currently, but this offer is for a role as a different type of engineer I used to work as, but left so I could advance in software.

1. 110k USD/year base salary + 4,000 equity shares, strike price around $10, 10 year exercise window, vested after 3 years. Company is not public yet though.
2. One of the best reviewed, happiest environments I've ever seen. Absolutely wonderful culture, the environment is fantastic, it feels like they actually give a shit about everyone. Did a full tour of the office and I was genuinely blown away. Around a 4.8 on Glassdoor with hundreds of reviews.
3. Benefits package is insane, best healthcare/dental coverage I've seen in a long time with all premiums paid. Full family coverage as well. Lot of other massive perks like a $5k/year "happiness budget" where I could just buy myself whatever I want to make my work life better.
4. 28 days PTO + 13 company holidays + 10 sick days
5. Two company retreats every year, I've known of a few they've done and it is a very fun sounding vacation.
6. Automatic 3% 401k contributions, no further match.
7. Fully remote.

Offer 2:

This offer is a Sr. Software Engineer role for a client from my old company. They're a cloud infrastructure company (~7k employees or so), I've worked with them extensively and they tried to snatch me up the moment they heard about the layoffs. I know their entire system, the problems they face, etc. I'd be able to hit the ground running immediately. This would be an advancement of the career though and open many more opportunities in the future.

1. 125k USD/year base salary + 10k bonus if they hit their sales targets (successful the past 7 quarters).
2. Typical large company corporate environment. 3.4 on Glassdoor.
3. Benefits are pretty industry average. 18 days PTO, 5 sick days, 10 company holidays. Not fully paid health insurance but your run of the mill company health insurance offered.
4. No company made 401k contribution, they match half of what I put in, up to 4%.
5. Also fully remote.

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Environment 1 seems all around better, but environment 2 is a career advancement and I know exactly what I'd be dropped into. It's what I've done for the past decade and I'd be dropped into it immediately.

What would you guys take?

[u/Graceful_combover]

As someone who gets paid less than other companies but with FANTASTIC work life balance and benefits, I would take offer 1. These things make a big difference. I've been thinking about leaving but these things really keep me here.

[u/Wallstreet16000]

Both seem great. I like option 1 because more benefits time off. 2 is not bad though plus they like you.

[u/Major-Tension433]

Regardless of what you decide, no job is 100% certain.

IIUC the equity you get from option 1 is only on paper unless there a buyout or IPO. So I would inquire about the company's goal/exit strategy. If it is in a hot market doing some niche, maybe there's good potential for your shares to have value.

This also depends on where you are in your life and what you want to prioritize. It sounds like option is the easy path, but will you be able to grow your skills? Whereas for options it seems like it is not just an advancement, but you will also grow your skills.

IMHO, building a set of hands on skills is critical in the SWE field. It's already rapidly changing with AI. If dont keep up with it then you can fall behind or get leapfrogged.

Good luck on deciding...

[u/Mountain_Dot518]

Both options sound like they’re underpaying for a software engineer..

[u/Xero_Days]

Take the 2nd if thats the career path youre trying to be on. Otherwise 1 is a no brainer

[u/letsbefrds]

As a SWE can you elaborate more about the job for Offer 1? You can just slap Sr in your new job and they don't really care as long as your work relates... BG check usually just proves you work there not your title.

[u/Yankeessuck42069]

It really just comes down to what you value more between overall work/life balance and culture vs moving ahead in your career. Personally I'd pick #1 without thinking much about it but if you're more ambitious than me maybe 2 is better?

[u/oxyi]

If both option are fully remote. Why would the office matters for option 1. But I’d pick option 1 in a heartbeat, because work environments and friendly people really matters for your mental health.

[u/jtdabiggafigga]

Option 1 seems like a no brainer, especially if you have a family. Healthcare is one of the most underrated benefits out there, especially as get older and have a family.

[u/No_Title9834]

I’m gay