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$60K seems low to you, but it's infinitely better than the deal those startups would have offered before getting into YC. Before YC, it's "please join us for eq
by alain94040 12y ago
$60K seems low to you, but it's infinitely better than the deal those startups would have offered before getting into YC. Before YC, it's "please join us for equity, we have no cash to pay salary at all". 5% of equity with $0 is a deal that very few people can afford to take. With $60K, at least you are getting some protection. If it becomes intenable after 6 months, you can always quit.
There are multiple price points available for people to join the startup life, so it's a good thing. Of course startups would love to pay much more, but when all you have raised is $150K, you can't offer huge salaries to many people.
- busterarm 12y agoAs a junior developer, coming from a decade or so in IT, I would actually take the $60k/yr gig, in NYC, if it were the right company and with established opportunities to negotiate pay increases. Other companies might pay more, but if I can get the right skills/mentoring and get up to that pay in a year or two, I can take the short-term financial hit.
- bagels 12y agoMy favorite offer was $0 + less than 1%, while another place was offering 140k. The guy got irritated when I showed the math on how this was a poor offer.
- busterarm 12y agoIt takes a certain amount of balls to ask someone to work for free. Hell, I'm not even sure how that would be legal - especially in NYC. That said, I see folks in New York doing this sort of thing all the time, just mostly in creative fields.