Education: Tier 1 CSE
Years of Experience: 4.5
Prior Experience: ML Engineer at a Fortune 100 company (non-tech)
Current TC: ~36,00,000 (All cash)
Date of the Offer: March 2024
Company: Google
Title/Level: SWE III - ML (L4)
Location: Hyderabad
Salary: 38,00,000
Relocation Bonus: 5,00,000
Signing Bonus: 5,00,000
Stock bonus: $70,000 over 4 years (38, 32, 20, 10 vesting split)
Performance Bonus: 5,70,000 (15% of Base)
Total comp (Salary + Bonus + Stock): ~75,86,000 (1st year)
Benefits: Standard Google Benefits
Other details: Overall process took 1.5 months from phone screen. No competing offers.

This is the initial offer I have received. I have seen a lot of offers in the 85-95 LPA range here. Am I being lowballed? My interview feedbacks were all hire/strong hire.

Interview experience: https://leetcode.com/discuss/interview-experience/4953575/Google-or-SWE-III-(L4)-ML-or-Hyderabad-or-Mar-2024-Offer