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So 10% of startups give out more than 1% of equity to a mid-level engineer ? Perhaps this is a small sample, but it sounds odd.
So 10% of startups give out more than 1% of equity to a mid-level engineer ? Perhaps this is a small sample, but it sounds odd.
What should first and second hire get? 1 or 2% doesn't seem crazy after a seed round.
Earlier quoted context omitted.
What I mean is, Europe generally does not even come close to that level of pay/compensation. So I assumed that these are US based startups. I could be wrong though.
Yes but you (generally) get other things like universal healthcare, free or cheap university, retirement plans, no need for a car due to proper urban planning, etc. In the US you have to shell out for all these things, paying into a private 401(k) for retirement, paying back student loan debt, paying for your health insurance etc. And these are at well funded tech firms.
Earlier quoted context omitted.
What I mean is, Europe generally does not even come close to that level of pay/compensation. So I assumed that these are US based startups. I could be wrong though.
Yes but you (generally) get other things like universal healthcare, free or cheap university, retirement plans, no need for a car due to proper urban planning, etc. In the US you have to shell out for all these things, paying into a private 401(k) for retirement, paying back student loan debt, paying for your health insurance etc. And these are at well funded tech firms.
In Berlin "the silicon valley of Europe", as people here like to say, there are pretty much zero engineering jobs paying >$100k/year. There is some magical ceiling of around $90k/year, no matter how senior you are. This isn't only true for startups but pretty much any company.
That's one of the reasons I work remote for Silicon Valley.
Earlier quoted context omitted.
What I mean is, Europe generally does not even come close to that level of pay/compensation. So I assumed that these are US based startups. I could be wrong though.
Yes but you (generally) get other things like universal healthcare, free or cheap university, retirement plans, no need for a car due to proper urban planning, etc. In the US you have to shell out for all these things, paying into a private 401(k) for retirement, paying back student loan debt, paying for your health insurance etc. And these are at well funded tech firms.
"Proper urban planning?" Hah. In Paris you pay San Franscico housing prices or you spend over an hour on strike-prone un-air conditioned buses or trains.
As far as retirement plans, pay me more and I'll invest it myself. If I make $150k per year, that's almost triple a French salary -- plenty of extra money to start my own damned retirement fund without depending on the government.
On top of that in Europe the small salary you do get is subject to confiscatory tax rates. Then (in France at least, you have a 20% VAT, high fuel costs and higher costs for basic utilities.) Food costs more, services cost more -- everything costs more. At the end of the day your net income is far far less than the US, even factoring in all of the 'free' stuff. But hey at least you can get employer sponsored 'free' lunch cheques and mandatory vacation time.
I live in France and I like living here, but I pay dearly for that benefit. I am not here because it's a good value. Financially and socially and well as entrepreneurially I would be better off in Houston, but I love the Provençal weather, the wine and the laid back feel of living in the countryside -- but a good value? Definitely not. If I had to survive on a French salary, there'd be no way I would choose to live here.
Here's some data to support: https://mises.org/blog/poor-us-are-richer-middle-class-much-...
Earlier quoted context omitted.
What should first and second hire get? 1 or 2% doesn't seem crazy after a seed round.
Anyone who puts in sweat equity should get double digits IMO (unless the company has been around for years as a one man band, and maybe even then.)
Earlier quoted context omitted.
Anyone who puts in sweat equity should get double digits IMO (unless the company has been around for years as a one man band, and maybe even then.)
Double digit ownership usually means the person is a cofounder. This question was about engineers.
I love this one: How confident are you that you're building a billion dollar company? Answers: 1. I'm certain that we will - 18% 2. I'm confident we have a decent shot at it - 42% Thumbs up for the optimism!
Well, they are telling this to VCs afterall...
I wonder if founders giving answers here had names attached to their answers or if they were anonymous at submission-time.