51–60 of 352 posts
I have a feeling you will regret this soon. There are certain benefits in having a firm salary structure sponsored by a transparent system, but the loss of flexibility will hurt in ways you haven't experienced. Also, letting everyone know what their peers make can cause disgruntled employees.
Seems unwise to have a CEO co-founder be the highest salaried employee at a startup. That person's equity position is probably at least an order of magnitude higher than the other employees. As an investor or employee, I'd find this alarming. http://techcrunch.com/2008/09/08/peter-thiel-best-predictor-... Call me old fashioned, but I think co-founders should be paid living expenses + 25%, even in a series-A funded st…
It's risky to comment without knowing the specifics of Joel's situation. But it seems that his $158k salary isn't outside those bounds if he lives in e.g. San Francisco or NYC. Hard to know someone's living expenses without drilling way into their personal financials, and again this is not unreasonably high.
Thiel, from the link you posted:
>> What’s the average salary for CEOs from funded startups? Thiel was hesitant to answer, but eventually said “$100-125k.”
That was in 2008. Adjust for rent inflation, and that should square the numbers for you.
Let's say I'm a competitor, and I find that Niel (randomly picked) is someone I want to hire. All else being equal, I offer him $100k (website says he's making $88k). He comes to his boss to say "I like it here, can you match it?" What does his boss do? Especially, if he's valuable to the company... What if I have a very specialized skill that doesn't fit nicely into your matrix? Let's say market pay for my skill is…
Earlier quoted context omitted.
Yeah, I think it would have been more than enough to simply explain the formula and provide some anonymized examples. On another note, I am quite surprised at how underpaid some of their positions seem. Senior iOS engineer barely cracking 100k in a very expensive market...
Yeah, that's pretty ballsy. Seems like they're exposing themselves to unnecessary poaching risk. And what do they do in that situation? What if someone has a competing offer and they want to keep them around? Offer a bonus?
Keep it internal to the company - you have an expectation of privacy from your employer and this post just ruined it completely.
I hope they got written signed releases from every one of those folks whose private info they broadcast to the world.
Let's say I'm a competitor, and I find that Niel (randomly picked) is someone I want to hire. All else being equal, I offer him $100k (website says he's making $88k). He comes to his boss to say "I like it here, can you match it?" What does his boss do? Especially, if he's valuable to the company... What if I have a very specialized skill that doesn't fit nicely into your matrix? Let's say market pay for my skill is…
I would assume your real reason for objecting is that you employ people and like the information asymmetry that lets you pay someone less than they could get
I don't find that there's a lot of information asymmetry, at least as an engineer. Beyond a first job, is there really that much? I know what I made at my last job, I know approximately what I'm worth, and I argue from there. If a company won't pay me what I think I'm worth, I look elsewhere.
Every situation is unique: how desperate is the company, how desperate is the employee, how many roles will a person fill, how many intangibles does the person come with (i.e. work ethic, contacts, what-have-you)...
This sounds like absolute hell > Every internal email sent between any 2 people on the team has a certain list cc’ed that is accessible for everyone: For example if 2 engineers email with each other, they cc the engineers list, if it’s people on our customer support team they have a support email list cc’ed. Stripe was a great inspiration for this. (More about this) Openness and transparency and honesty are great. Bu…
This sounds like absolute hell > Every internal email sent between any 2 people on the team has a certain list cc’ed that is accessible for everyone: For example if 2 engineers email with each other, they cc the engineers list, if it’s people on our customer support team they have a support email list cc’ed. Stripe was a great inspiration for this. (More about this) Openness and transparency and honesty are great. Bu…
Seems unwise to have a CEO co-founder be the highest salaried employee at a startup. That person's equity position is probably at least an order of magnitude higher than the other employees. As an investor or employee, I'd find this alarming. http://techcrunch.com/2008/09/08/peter-thiel-best-predictor-... Call me old fashioned, but I think co-founders should be paid living expenses + 25%, even in a series-A funded st…
>> co-founders should be paid living expenses + 25%, even in a series-A funded startup It's risky to comment without knowing the specifics of Joel's situation. But it seems that his $158k salary isn't outside those bounds if he lives in e.g. San Francisco or NYC. Hard to know someone's living expenses without drilling way into their personal financials, and again this is not unreasonably high. Thiel, from the link yo…
The math the company has laid out says that CEOs should be paid more than any employee in a company, even if they are founders and have a controlling equity stake. I'm simply saying that if I were an investor or employee, I would find that concerning.