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TIFU by getting a shockingly insulting job offer

TLDR: I spent the last four months working as a ground floor software developer for a start up that just got funding only to get an offer for minimum wage.

Obligatory this technically didn't happen today but was the result of months of fuck ups.

So last summer during the height of the pandemic I was lucky enough to get an internship at a start up so early in it's life that I was the first person paid, the first person not related to the founder, and while an intern I dictated the language most of the back-end was written in. It wasn't the best paying internship at $20/hr but I was thankful to have anything since we were in a pandemic and most internship programs were cancelled.

I got the job in large part because the ceo was friends with my dad and many other family friends. So we all thought he was a really trustworthy person and he was a nice guy to work for. I finished the internship after a couple months of daily meeting (I mention the meeting to stress that I've talked to this guy a lot) and go back to finish my last semester of college the zoomiest way possible.

I graduated in December and after a month and a half of job applications the ceo called me back up in early January offering me a job as a contractor. Since he had been paying me out of pocket when I was an intern he said that we had a couple options for payment. He could payment on an hourly rate but it would be less than he was paying me before or we could defer payment until he got funding and he'd back pay me at market rate.

Knowing everything I know now this was where I massively fucked up. I knew we were only a couple months from funding and knowing the ceo's record up to this point I agreed to deferring the payment since it would mean 3/4 times the money. I stopped sending out applications and began working for him full time. We made great progress and in early March talks began with investors.

By the beginning of April I was told the investors are on board and the budget is finalized. He began sending out job posting and holding interviews so he could hire more people. His daughter quit her job so she could work for the company full time. I was told that he's gonna make me an official offer as soon as he has insurance stuff figured out.

Now since he started talking to investors he's been telling me how grateful he is that I stuck with the company and that he was gonna take care of me. So while I wasn't expecting anything outrageous I was expecting a solid market rate for a software developer.

He finally tells me he's ready to talk shop almost two months after he finalized his budget. He offered me a salary of 36,000 a year. No stock option, no signing bonus, just a nice incredibly insulting 18/hr. I live in the San Francisco Bay area. Highschool students make more than that here.

Hopefully you guys got some enjoyment out of my massive f up and can learn from my mistakes.

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