A Wealthfront eBook

+!6 %)" with Elizabeth MacBride

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+1/,!2 1&,+%6+$&+$,2//""/"))0,*-,/1+1You will earn far more money by managing your career well than by managing your investments well. The happiness you derive from your career may be nearly as important as the happiness you derive from the rest of your life.

%-1"/" &!"%"/",,/(Your choice of company matters far more than your job title or even your compensation. Your best risk-adjusted bet if you are just starting out, or if you havent succeeded yet, is to join a mid-sized company with momentum. You might also want to consider the person youll be working for and whether she can be a mentor.

%-1"/,+1"+"/,))" 1,/Candidates who have been successful tend to focus their job searches. They look for the company with the highest ,!!0,#02 ""!&+$#6,20-"+!1&*" ,))" 1&+$,"/0good companies wont want to hire you: They will see your search for the highest compensation or biggest title as a sign you havent yet succeeded.

%-1"/"1&/,*-"+01&,+ ($"You need enough to live on, and youll want to make sure you will be compensated within the industry norms. Our compensation tool can help.

%-1"/0(%"0"2"01&,+0,21,2/-1&,+0What really matters is the percentage of the company your options represent, and the rapidity with which they vest. These questions will help you understand how your prospective employer treats options.

%-1"/""("+1,/A second but slightly less important factor than the quality of the company is your mentor. A great mentor gives your /""/+2-!/

%-1"/" &!",4,+$1,16For most people, the right length of time is probably about four years, which is, coincidentally, when most options packages are fully vested. But there are corner cases: If you are unhappy about a circumstance that is unlikely to change, you should leave a job at any point. And, if you are /"))6%--6&10+"1,016#,/),+$"/1%+#,2/6"/0

/1&+$,/!0If youre just starting out, pay attention to the fundamentals Ive outlined in this book. If youve made some missteps, my advice is the same: Follow the fundamental lessons, even if it means taking what feels like a backward step in your career. Success breeds success. If you havent succeeded yet in your career, my advice is to keep trying until you do.

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Introduction

You will earn far more money by managing your career well than by managing your investments well. The happiness you derive from your career may be nearly as important as the happiness you derive from the rest of your life.

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Your choice of company matters far more than your job title or even your compensation. Your best risk-adjusted bet if you are just starting out, or if you havent succeeded yet, is to join a mid-sized company with momentum. You might also want to consider the person youll be working for and whether she can be a mentor.

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Chapter I

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Table 1: Mid-Size Companies With Momentum

COMPANY & DESCRIPTION LOCATION

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%& $,

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Click Here for the Full Table (Appendix A)

Candidates who have been successful tend to focus their job searches. They look for the company with the highest odds of succeeding. ,I\RXVSHQGWLPHFROOHFWLQJRHUVJRRGcompanies wont want to hire you: They will see your search for the highest compensation or biggest title as a sign you havent yet succeeded.

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Chapter II

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You need enough to live on, and youll want to make sure you will be compensated within the industry norms. Our compensation tool can help.

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"1&/,*-"+01&,+ ($"

Chapter III

6,2*,/"*,+"64&1%,211(&+$*,+"6#/,*1%"2!$"1#,/+,1%"/-,0&1&,+

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#6,2*201+*"+*,2+1#10,*"-,&+1!2/&+$1%"+"$,1&1&,+6,2/"0("!1,+*"+*,2+1,/+".2&1601("6,2 +20",2/,,)1,!" &!",+/"0,+)"+2*"/0,+10(#,/+*,2+11%1&0#/,3"1%"3"/$"1%" ,*-+6*,01)&(")64,+1/"(&102!$"101,%&/"6,2+!6,24&))%3"!*$"!1%"/")1&,+0%&-/&$%1#/,*1%"

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0"!,+*6"5-"/&"+ "*,01 ,*-+&"04&)),"/6,2#&/4$"+!#&/".2&16- ($"%,0"1%1!,+1/"1%,0"6,2!,+14+11,4,/(#,/

,*-"+01&,+&+1%"6/"1"+!01,"%&$%"/1%+&+,1%"/1" %/"$&,+0&+1%" ,2+1/6

What really matters is the percentage of the company your options represent, and the rapidity with which they vest. These questions will help you understand how your prospective employer treats options.

,-1&,+01,',&+1%"&/ ,*-+6!,+1$"11,,"5 &1"!

3"/*66"/ /""/&+&)& ,+))"63"41 %"!*+6"*-),6""0#))&+1,1%"1/-,##, 20&+$,+1%"+2*"/,#,-1&,+01%"64"/","/"!2& (!"+&1&,+01, (,-1&,+&01%"/&$%121+,11%",)&$1&,+1,260%/",#1%" ,*-+6001, (10,*"-,&+1&+1%"#212/"11%""5"/ &0"-/& "+1/21%1%"/4+2*"/&0461%1 ,*-+&"0-)6,+"*-),6""0+&3"1%1/"))6*11"/0&01%"-"/ "+1$",#1%" ,*-+61%",-1&,+0/"-/"0"+1+!1%"/-&!&164&1%4%& %1%"63"01

0(%"0"2"01&,+0,21,2/-1&,+0

Chapter IV

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1. :KDWSHUFHQWDJHRIWKHFRPSDQ\GRWKHRSWLRQVRHUHGrepresent?%&0&01%"0&+$)"*,01&*-,/1+1.2"01&,+3&,20)6)/$"/+2*"/,#,-1&,+0&0"11"/1%+0*))"/+2*"/21-"/ "+1$",4+"/0%&-&04%1/"))6*11"/0,/"5*-)",+" ,*-+6,"/0,-1&,+0,21,#*&))&,+0%/"0,2101+!&+$+!+,1%"/ ,*-+6,"/0,-1&,+0,21,#*&))&,+0%/"0,2101+!&+$1%"+1%"0" ,+!,"/&01&*"0011/ 1&3"%10/&$%1%"0*))"/0%/","/&+1%&0 0"&0*2 %*,/"11/ 1&3"" 20"1%" ,*-+6&0 .2&/"!,/$,"0-2)& 1%"+6,24&))"4,/1%1&*"00*2 %

2. Are you including all shares in the total shares outstanding for the purpose of calculating the percentage above?,*" ,*-+&"011"*-11,*("1%"&/,"/0),,(*,/"11/ 1&3"6 ) 2)1&+$1%",4+"/0%&--"/ "+1$"6,2/,"//"-/"0"+1020&+$0*))"/0%/" ,2+11%+4%11%"6 ,2)!,*("1%"-"/ "+1$"0""*&$$"/1%" ,*-+6*6+,1&+ )2!""3"/61%&+$&10%,2)!&+1%"!"+,*&+1,/,2))4+11,*("02/"1%" ,*-+620"0#2))6!&)21"!0%/"0,2101+!&+$1, ) 2)1"1%"-"/ "+1$"&+ )2!&+$)),#1%"#,)),4&+$ ,**,+01, ("01/& 1"!01, (2+&10 /"#"//"!01, ( -1&,+0,2101+!&+$ +&002"!0%/"0/"*&+&+$&+1%",-1&,+0-,,) //+10

3. How does your proposed option grant compare to the market? ,*-+616-& ))6%0-,)& 61%1-) "0&10,-1&,+$/+10/")1&3"1,*/("13"/$"0,*" ,*-+&"0-6%&$%"/0)/&"01%+*/("10,1%"6 +,"/)"00".2&16,*"!,1%",--,0&1",*"$&3"6,2 %,& ",2))4+11,(+,44%11%"&/-,)& 6&0&+,/!"/1,"3)21"6,2/,"/4&1%&+1%"-/,-"/ ,+1"51

4. What is the market rate for your position? 3"/6',%0*/("1/1"#,/0)/6+!".2&16/("1/1"0/"!"1"/*&+"!61%"+12/",#6,2/',1%"$",#6,2/ ,*-+61%"+2*"/,#"*-),6""01%"*,2+1,#*,+"6/&0"!+!1%"*,2+1,#/"3"+2",/-/,11%" ,*-+6&0 2//"+1)6$"+"/1&+$+#,/12+1")6!10"1%11/ (0))1%&0&+#,/*1&,+&0+,1/"!&)63&))"0,2+)"006,2%3"#/&"+!4%,&0+00, &1"1)4/*,/3"+12/" -&1)/*6,2 +"012 (/")6&+$,+1%")&*&1"!-"/0-" 1&3",#6,2/,1%"/#/&"+!04%,4,/(1-/&31" ,*-+&"0%"/"%3"""++2*"/,#/2)",#1%2*#,/*2)0-2)&0%"!&+/" "+16"/0214"!,+,1")&"3"1%"6 2/1")6/"" 11%"*/("1#,/,-1&,+$/+10"2&)1,2/1/12-)/6.2&16,*-"+01&,+,,))0,&+ )2!"!&+1%")01 %-1"/1,%")-6,2"11"/ ,*-/"6,2/,"/ /,001%"1" %&+!201/6

5. What is the vesting schedule?%"16-& )3"01&+$0 %"!2)"&0,3"/#,2/6"/04&1%,+"6"/ ),24"/"1,)"3""#,/"1%" )&6,2$"1+,1%&+$,)),4&+$1%" )&6,2&**"!&1")63"01,#6,2/0%/"0+!1%"+6,2/,-1&,+03"01*,+1%)6+61%&+$,1%"/1%+1%&0&0,!!+!0%,2)! 20"6,21,.2"01&,+1%" ,*-+6#2/1%"/,*" ,*-+&"0*&$%1/".2"013"6"/3"01&+$211%10%,2)!$&3"6,2-20"

6. Does anything happen to my vested shares if I leave before my entire vesting schedule has been completed?6-& ))66,2$"11,(""-+61%&+$6,23"010),+$06,2"5"/ &0"4&1%&+!60,#)"3&+$6,2/ ,*-+61%+!#2),# ,*-+&"01%" ,*-+6%01%"/&$%11,26 (6,2/3"01"!0%/"011%""5"/ &0"-/& "6,2)"3"1%" ,*-+6"#,/")&.2&!&16"3"+1+"00"+ "1%&0*"+01%16,2)"3" ,*-+6&+14,,/1%/""6"/06,2/,-1&,+0/"4,/1%+,1%&+$"3"+0,*",#1%"*%3"3"01"!

7. Do you allow early exercise of my options?)),4&+$"*-),6""01,"5"/ &0"1%"&/,-1&,+0"#,/"1%"6%3"3"01"! +"15"+"11,"*-),6""0" 20"1%"6%3"1%"

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8. Is there any acceleration of my vesting if the company is acquired?"10066,24,/(1 ,*-+6#,/14,6"/0+!1%"+&1$"10 .2&/"!,2*6%3"',&+"!1%"-/&31" ,*-+6" 20"6,2!&!+14+11,4,/(#,/&$ ,*-+6#0,6,24,2)!-/,)64+10,*" ")"/1&,+0,6,2 ,2)!)"3"1%" ,*-+6"/1%" .2&0&1&,+

+6 ,*-+&"0)0,,"/+!!&1&,+)0&5*,+1%0,#3"01&+$2-,+ .2&0&1&,+6,2/"/"!,24,2)!+14+11,0"/3"-/&0,+0"+1"+ "1 ,*-+66,2/"+,1 ,*#,/1)"4&1%+!,# ,2/0")6,&0+,12+ ,**,+"/+ .2&0&1&,+

/,*1%" ,*-+60-"/0-" 1&3"1%"!,4+0&!",#,"/&+$ ")"/1&,+&01%" .2&/"/4&)))&(")6-6),4"/ .2&0&1&,+-/& "" 20"&1*&$%1%3"1,&002"*,/",-1&,+01,/"-) "1%"-",-)"4%,)"3""/)621 ")"/1&,+&0-,1"+1&)"+"1+!&10/"))6+& "1%&+$1,%3"

9. Are options priced at fair market value determined by an independent appraisal? What is the exercise price relative to the price of the preferred stock issued in your last round? "+12/" -&1) ("!01/12-0&002",-1&,+01,"*-),6""01+"5"/ &0"-/& "1%10#/ 1&,+,#4%11%"&+3"01,/0-6#6,2/,-1&,+0/"-/& "!+"/1%"3)2",#1%"-/"#"//"!01, (1%",-1&,+0%3")"003)2"

%"+6,20(1%&0.2"01&,+6,2/"),,(&+$#,/&$!&0 ,2+121!&0 ,2+1,#*,/"1%+&0)&(")61,"),,("!,+2+#3,/)661%"+! ,2)!)"!1,+2+"5-" 1"!15)&&)&16" 20"6,24,2)!,4"15,++6$&+1%1/"02)10#/,*"&+$&002"!,-1&,+0

1+"5"/ &0"-/& ""),4#&/*/("13)2"#1%"-/"#"//"!01, (40&002"!0613)2",#0%/"+!6,2/,-1&,+0%3"+"5"/ &0"-/& ",#-"/0%/"301%"#&/*/("13)2",#-"/0%/"1%"+6,2)),4"15"0,+6,2/2+#&/"+"14%& %&01%"!&"/"+ ""14""++!

10. When was the companys last 409A appraisal?+)6,/!0,#!&/" 1,/0 +1" %+& ))6&002",-1&,+00,6,24&))16-& ))6+,1(+,41%""5"/ &0"-/& ",#1%",-1&,+0&+6,2/,"/)"11"/2+1&)6,2/,/!+"51*""10#6,2/-/,-,0"!"*-),6"/&0-/&31"1%"+6,2/,/!*201!"1"/*&+"1%""5"/ &0"-/& ",#6,2/,-1&,+064%1&0/"#"//"!1,0--/&0)1%"+*" ,*"0#/,*1%"$,3"/+&+$0" 1&,+,#1%"15 ,!"#&10""+),+$1&*"0&+ "1%")01--/&0)1%" ,*-+64&))%3"1,!,+,1%"/,+",01)&(")61%1*"+06,2/"5"/ &0"-/& "4&))$,2-+! ,//"0-,+!&+$)66,2/,-1&,+04&))")"003)2)"--/&0)0/"16-& ))6!,+""3"/60&5*,+1%0

11. What did the last round value the company at?%"3)2"1"))06,21%" ,+1"51#,/%,43)2)"6,2/,-1&,+0 ,2)!",**,+01, (&0+,14,/1%0*2 %0-/"#"//"!01, (2+1&)6,2/ ,*-+6&0 .2&/"!,/$,"0-2)& 0,!,+1#))#,/0)"0-&1 %1%1-/,*,1"01%"3)2",#6,2/-/,-,0"!,-1&,+011%")1"01-/"#"//"!-/& "

12. How long will your current funding last?,24+11,(+,44%"+6,2/"$,&+$1,$"1!&)21"!"#"/ (1,.2"01&,++2*"/,+"#,/4%61%&0&0&*-,/1+1

A second but slightly less important factor than the quality of the company is your mentor. A great mentor gives your career an updraft.

"5-)&+"!1%"&*-,/1+ ",#"/)602 "00&+6,2/ /""/,2$"1*,/" /"!&11%+6,2!"0"/3"#,/"&+$102 "00#2) ,*-+6+!)"00 /"!&11%+6,2!"0"/3"#,/"&+$-/1,#+2+02 "00#2) ,*-+6%" /&1& ).2"01&,+&0%,4 +6,2&+ /"0"6,2/)&(")&%,,!,#02 "00

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""("+1,/Chapter V

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For most people, the right length of time is probably about four years, which is coincidentally when most options packages are fully vested. But there are corner cases: If you are unhappy about a circumstance that is unlikely to change, you should leave a job at any point. And, if you are really happy, its QHWRVWD\IRUORQJHUWKDQIRXU\HDUV

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1!"-"+!0,+6,2/%--&+"001%" ,*-+60-/,0-" 10+!6,2/ /""/-1%,/*+6-",-)"#,2/6"/00""*01,",21

" &!",4,+$,16

Chapter VI

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If youre just starting out, pay attention to the fundamentals Ive outlined in this book. If youve made some missteps, my advice is the same: Follow the fundamental lessons, even if it means taking what feels like a backward step in your career. Success breeds success. If you havent succeeded yet in your career, my advice is to keep trying until you do.

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About Wealth-

front

Appendix A: Mid-Size Companies with Momentum

COMPANY & DESCRIPTION LOCATION

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All the companies on the list were contacted before being listed by Wealthfront. Information was compiled via company websites, Wealthfronts proprietary research, and company information sources like CrunchBase. To add information, please contact us at ),$4")1%#/,+1 ,*.

Video PrefaceAbout the AuthorManage Your Tech CareerDecide Where to WorkDont Be An Offer CollectorGet A Fair CompensationAsk These 12 Questions About Your OptionsSeek A MentorDecide How Long To StayParting Words: Be PatientAbout WealthfrontAppendix A: Mid-Size Companies With Momentum