Would you stay?

Question

I joined a venture capitalist group 2 weeks ago, for a salary significantly below market rate. In return, I was promised stock options for when the company would get listed.

1. In these 2 weeks, my boss has continually put off and found excuses about issuing the stock options contract. He keeps repeating that

2. The terms in the contract I signed on for keep changing. Things like expected working hours (6 working days instead of 5??) and even my posting. I was supposed to have left for a posting in Asia last week, which has now been put off indefinitely.

3. Now that I've thoroughly reviewed their business models and projections, they don't seem to have any hope of getting a listing in the forseeable future.

I brought these things up, and I'm supposed to give a decision on monday. Stay for the medium-long term (bonded), or leave immediately because of the disruption my departure would cause to the operations.

I don't have another job to jump into.

What should i do?

Answer 1

Seems to me, your Boss is a bit of a crook = he has failed to keep his end of the 'bargain' (and it sounds like he has no intention of doing so) and it also sounds as if your duties will simply be increased until you are working 7 days / 80 hours .. this is not unusual for an 'aggressive' businessman ..

If you wish to stay and work it out, you need to salvage the situation (and gain his respect). I suggest you sit down on Monday and start by presenting your review of their business models and projections.

At the end of your presentation, say you have some ideas about resolving the problems - then look him in the eye and state "but first we need to sort out my Stock Options Contract" ... judge his response - is he genuinely going to issue the Contract or not ?

If you judge 'no', simply say "I'm sorry we couldn't work this out together, I'll go clear my desk now" - and walk out ... I expect you will have to go to a Lawyer before he will pay you for the 2 weeks you put in ..

If it's 'yes' then say you will work on proposals to resolve the issues you have identified and that you would like to schedule a meeting to discuss them as soon as possible after the Contract has been signed ..

Answer 2

If I were you I would leave as soon as I could.  They dont seem to be honest with you.