4 ms·
No not all. The original founders all have sub-$100k salaries but also have more than 1% equity. I don't like having salary negotiations with people that coul
by jaf12duke 14y ago
No not all. The original founders all have sub-$100k salaries but also have more than 1% equity.
I don't like having salary negotiations with people that could work anywhere or could start their own company. I'm humbled and honored by their decision to work with us (that decision always comes before we talk salary).
I show them the cap table, the bank accounts, and everyone else's salary in our company...and then ask them where they would like to be.
We can't do it this way forever, but for now, it means that everyone in the company feels good about where they stand. In talking to my other startup friends, our salaries are very similar to their's, so it doesn't seem to make much of a difference in the outcome.
- batgaijin 14y agoI think you are going to attract some very smart people just with that level of honesty.
- anmol 14y agoShowing them "everyone else's salary in our company" is a pretty strong approach. How well has this worked out? Curious. (Note: founders should still keep total comp #s fair for everyone, but there's a difference between that and revealing everyone's salary)
- crazypyro 14y agoFrom what I hear/read, open discussion of salaries/income is not very rare in other countries (outside the USA). I think this open discussion only benefits the employee and should be more commonplace.
- jaf12duke 14y agoIt's not the normal way, but it's worked out just fine for us. We've all run our own startups before and we've all been burned before in one way or another. Building trust with each other is paramount. Right now is one of the toughest talent wars I've ever seen. We've brought together 9 people all capable of running their own companies--you can't do that by doing everything the normal way. But aside from all that, it just feels right to us.
- SatvikBeri 14y agoYour job posting is definitely one of the best I've seen. The focus on health as part of the culture is an incredible perk, and the transparency offered here definitely helps. If I weren't strongly committed I'd definitely apply ;)
- jaf12duke 14y agoMan, we love it. We're addicted to feeling good. 1 year ago, we were overweight geeks, blaming a stressful startup life for our unhealthiness. Now we're all in fabulous shape and because everyone's on board more or less, it doesn't take nearly as much individual discipline. So yeah, mega perk.