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You should pay your employees their market rate. Your risk of going out of business is higher is what warrants the bigger equity. You spend all this time and s
by givemeethekeys 4y ago
You should pay your employees their market rate. Your risk of going out of business is higher is what warrants the bigger equity.
You spend all this time and salary to build a team that works like a well-oiled machine. It would be a shame to lose them to someone who simply pays the market rate.
Your team is likely going to be working more than overtime helping you build your dream. You should match what FAANG's paying them, if thats your competition for talent.
As they say, you get what you pay for.
- chatmasta 4y agoYeah, I definitely agree. I'd rather pay a premium to get the best employee and take a discount myself, rather than pay someone below market while paying myself some absurd salary. Frankly I don't care what I pay myself as long as I can afford an apartment and groceries, and so far this has worked out well, as I love the employees we have. If I were exfiltrating a bunch of money for my own salary we would have been out of business months ago.
- SCUSKU 4y agoAs a spectator to your conversation, I have to say I like and agree with your general philosophy. While I can't quite put a finger on what I like, I think the gist is operating under assumption of how the world, finances, and incentives SHOULD work, as opposed to how they currently work. And also maybe some dose of minimalism(?). Either way, I wish you all the best in building your startup!