Pre IPO stock options were very attractive, but salaries and benefits have remained well below the industry average, even post IPO. Pay hikes are rare. There is no 401k matching. Refresher stock grants are minuscule compared to the initial grant. The bonus payout is low, as it’s a percentage of the depressed base salary. There is no target percentage so employees don't have an idea what they will be paid. The criteria for determining bonus payouts isn't made clear to employees. There is a pretty high attrition rate after pre IPO stock grants vest because of the steep drop in total compensation.
Career paths are not well defined, and the opacity of the review process is difficult to deal with. Engineer levels are kept confidential, so it's hard to know when/if you are making progress. When asked for specific input on how to grow into larger roles, management gives very broad feedback. Also, the flat organization structure makes it very hard to move from individual contributor roles to people management.
There is some risk that the company’s growth will be hurt by ongoing litigation.
Certain important green card documents are withheld from H1 employees. Although it can be worked around, it is an unnecessary inconvenience.