Salary to expect for a "well-funded" Manhattan startup
I have a second interview this week for a "well funded Manhattan Startup". They are looking to fulfill the position of both Account Manager and Business Development Manager. I am coming from a very large well know tech company, and I more than meet all of the qualifications (the interviewer told me on my first interview). The company is a little more than a year old and has exceed last year's goal by almost 300%.
How much under market price should I expect in an offer? Does equity even come into play here? There are currently about 25 employees. All tips are much appreciated, thanks!
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Why would you expect salary under market? – Littleadv 12 years ago
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I would assume he means similar positions in large companies that don't offer equity. – Henry The Hengineer 12 years ago
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Why do you assume large companies don't offer equity? – Peter K. 12 years ago
3 Answers
Unclear what "Well funded" actually means. Are they Seed? A? B?
What goals did they achieve? Cash flow positive? Covering their burn rate?
I would think that if they are 25 employees, options with vesting would be in the offer - but you need to know a bit more about shares issued / outstanding / option pool before knowing what value to place there.
As for salary - consider this RHI 2013 guide and make your play. Some might say the guide isn't relevant - i.e. not startup related - but there are so many different opinions on startup compensation (zero to 75K-100K to market, variable based on stage of startup, etc) that anything goes.
Good luck!
I would assume that any substantial Business Development position would be a pay-for-results situation that would be VERY lucrative. If not, let them pound the streets.
Account management is secondary - and if anyone doesn't think so - let them make the original sale.
Their goal for last year is meaningless, whether they exceeded it or not.
Equity can be a nice feature, but it should be the cash commission you earned PLUS the equity they want to give up to make sure you keep building the corporation.
There's what you think your worth and what they are willing to pay. Think of the cost of living and tack on x% on top. If your getting paid $145K now and they offer you $80K with equity vesting over 4 years. You have to ask yourself can you live on the $80K or not? Also, if you come in high. It's easy to work your way down. Going up is almost impossible.
