How do I negotiate an FDE offer?

Separate cash (base + bonus) from equity face value, ask about vesting, refreshers, and liquidity, then model 4-year outcomes under conservative growth assumptions. Compare against company salary hubs and competing offers at the same level.

What is the difference between RSUs and PPUs for FDE roles?

Public-company RSUs are typically liquid on a vesting schedule (subject to trading windows and taxes). Profit Participation Units (PPUs) and other private/paper structures can be large on paper but hard to sell until a liquidity event — so face value is not cash-equivalent.

Should I take a lower base for higher AI-lab equity?

Only after modeling downside cases: slower growth, delayed liquidity, and weaker refreshers. Many candidates keep a cash floor for lifestyle risk, then negotiate equity upside separately.

What should I ask in an FDE offer call?

Ask for base, bonus target, initial grant face value, vest schedule, expected annual refreshers, leveling rationale, and whether equity is liquid RSU, private stock, or PPU/paper. Confirm travel expectations and on-call/field intensity that affect effective hourly value.

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FDE compensation negotiation: RSUs, PPUs, and paper equity

FDE offers often look similar on a “TC” slide and diverge wildly in liquidity. Negotiation is less about asking for a round number and more about comparing cash, vesting, refreshers, and what you can actually sell.

Use company hubs for directional bands, then model assumptions in the comp calculator. Numbers below are frameworks — not tax, legal, or personalized financial advice.

Equity types you will actually see

Type	Typical home	Liquidity reality
Public RSUs	Palantir, public platforms	Usually sellable on vest (windows + taxes apply)
Private stock / options	Growth AI / defense startups	Illiquid until tender, secondary, or IPO
PPUs / paper units	Some frontier AI labs	Large face value; treat as discounted until liquidity

Negotiation sequence that works

Lock level first — a level miss beats a 5% cash tweak
Separate cash floor from equity upside — do not let a huge paper grant hide a base that breaks your runway
Ask the liquidity questions — vest, refreshers, secondary history, repurchase rights, tax withholding mechanics
Model competing offers on the same assumptions — same growth, same haircut for illiquid equity, same 4-year window
Trade cleanly — “I can sign at X if base/refresh/sign-on moves to Y” beats vague “can you do better?”

Questions to ask the recruiter / offer partner

What is the initial grant face value and vest schedule?
What refresher range is typical at this level in years 2–4?
Is equity liquid RSU, private stock, options, or PPU/paper?
Any historical tender / liquidity programs candidates should know?
How does leveling map to peer SWE levels at the same company?
What travel / field intensity is expected for this seat?

Common FDE tradeoffs

AI-lab paper upside vs public RSU cashflow — model a liquidity haircut in the calculator before celebrating “$500K TC”
Higher travel seats — effective hourly value can fall even when headline TC rises
Sign-on vs base — sign-on is one-time; base compounds into bonus and future offers
Level vs cash — taking a lower level for speed can cost more than waiting one cycle

How to use the calculator in negotiation

Load a preset (OpenAI, Anthropic, Palantir)
Set equity type + liquidity haircut for paper/PPU offers
Add expected annual refreshers if the recruiter gave a range
Copy the shareable URL into your decision doc / competing offer notes

Offer asset

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Offer-call questions, RSU vs PPU haircut mindset, and a negotiation sequence that protects cash floor before equity theater. Subscribe for the weekly FDE brief — we'll also email the Markdown when delivery is configured.

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Company hubs to cross-check

Start with OpenAI, Anthropic, Palantir, level pages like Palantir L4, and the full salaries index.