4 ms·
You should get a market rate salary post series-B or damn close in my opinion. This is the round where founders can take money off the table, making them milli
by poof131 10y ago
You should get a market rate salary post series-B or damn close in my opinion. This is the round where founders can take money off the table, making them millionaires. If they take money off the table but tell you that you should take less then market, you are getting taken advantage of. At a large company, with stock and bonus you could be getting $100k more per year. Your startup stock should cover this and more since you are taking a risk it is worth nothing in the end. Your base salary should match what you would get elsewhere. Founders take money off the table so they can focus on building the company and not worry about finances. There’s no reason employees shouldn’t be treated the same way.
How would you like working at a place like Secret for a discount only to find out 18 months before shutting down the founders each made 3 million.[1] Don’t take a below market salary at this point. There’s enough money the company can afford to pay market. If the founders can make millions they can afford to pay you the wage you deserve. Even post series-A I feel should be close to market, since the company just raised millions. Seed can be lower, but you should have a guarantee that it goes up at the next funding round. There’s a lot of money in the market and a lot of bad founders, so don’t make personal sacrifices to make others rich. If you want a mission, join the Peace Corp. Startups are business, otherwise they would be incorporated as non-profits.
1. http://www.businessinsider.com/secret-founders-pocket-6-million-in-25-million-fundraise-2014-7 http://www.businessinsider.com/secret-founders-pocket-6-mill...