Negotiating Your Anthropic Offer

The equity line on an Anthropic offer is a private RSU, a unit of stock in a company that has not gone public. It is not an OpenAI PPU, not an option you buy, and not a share you can sell on an open market. Base plus an RSU grant is all there is, with cash bonus reported at or near zero for most engineering roles. So the FAANG reflexes, push base, model a target bonus, value the stock at its sticker number, all miss. At Anthropic the stock is paper until two separate things happen, and the company sets the price.

The number under the equity line moves faster than almost anywhere. The valuation ran from $61.5B at the Series E in March 2025 to $380B at the Series G in February 2026. That is roughly a six-fold climb in a year, on run-rate revenue that reportedly went from about $1B to over $5B across 2025. Any grant value more than a quarter old is probably stale. The company keeps its bands and its share price private, so every figure below is an approximation drawn from self-reported snapshots. Treat it as a rough order of magnitude. Date everything. Your own grant agreement is the only document that settles what you hold.