4 ms·
This correlation is lost on me. Founders are entitled to make a living wage. In NYC being paid less than $50k would mean a few things: !) You have to live in sq
by Duhck 13y ago
This correlation is lost on me. Founders are entitled to make a living wage. In NYC being paid less than $50k would mean a few things: !) You have to live in squalor. 2) You have money from somewhere else to support the rest of your needs. 3) You use the business to pay for your expenses
I would like to see the size of the business as it relates to compensation. A single founder with no employees and no office space can make $50k/yr salary and live comfortably if their rent and expenses are on the business. Otherwise I am dumbfounded by how this works...
- lnanek2 13y agoIt's not that tough in NYC if you go with lots of roommates, or are willing to take the bus from cheap NJ living each morning. Even after I stopped taking so much equity instead of cash and moved into the city proper, I still managed a basement apartment in Chelsea for only $1,500/month. Something like Washington heights at the top of the island would probably be half that.