I firmly believe that one should never, ever take a pay cut to work at a startup. We've all heard the numbers, 80% of startups fail in the first year, by year 5

I firmly believe that one should never, ever take a pay cut to work at a startup. We've all heard the numbers, 80% of startups fail in the first year, by year 5 it's 90%. If you're taking a pay cut, you're not building savings for the inevitable thin times. When the startup fails, you're going to have a period of zero pay while you look for a new job. How long is that period going to be? If anything, one should be demanding more money. And this is especially true if the field is one you're excited about working in. You're putting yourself at an emotional disadvantage. You're more likely to put up with missed paychecks because you're supposedly "working your dream job". And when you end up in a bad situation, if you don't have a cushion of cash to fall back on, it could very well sour your view of your "dream".