employee stock pool is a bit low -- should be 20% and up.
Ask HN: is this a fair offer?
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Re: Ask HN: is this a fair offer?
#12employee stock pool is a bit low -- should be 20% and up.
Not necessarily. Depends on hiring plans.
Re: Ask HN: is this a fair offer?
#13out of curiosity, how were the founders able to raise at this level with no product? Did they have a pre-existing relationship with the financiers?
Re: Ask HN: is this a fair offer?
#14What role would you play? Most seed raises are in the $500k-$1m range these days in which case the first handful of employees are expected to work for about half salary, so that's not surprising. Except that you say they raised upwards of $4m in which case salaries should be closer to market (but still lower). If yours is a key role, .6% is too low. 1% or more might be right. But it depends a lot on the importance of your role (engineer vs non-engineer, role player vs manager/director). Is neither founder technical? Watch out.
Re: Ask HN: is this a fair offer?
#15Earlier quoted context omitted.
My current pay is probably 10-15% above average. Funding is more to the 2-4 range. My main concern is whether the equity is within the "average" for first developer on deck in a startup with VC money
You're the first developer on board. Get more equity, 2% would be good if they are giving you half-salary. 1% would be good if they are willing to do full salary. Walking away from lowball offers makes you worth more in the long run.
I would agree with this.
But I'm assuming you're a developer and the founders aren't and if they are trying to hire you, you have a certain set of skills they want.
Re: Ask HN: is this a fair offer?
#16out of curiosity, how were the founders able to raise at this level with no product? Did they have a pre-existing relationship with the financiers?
Good question. I am interested in hearing how they pay themselves with no product as well?