I raised <$1M in 2023. I considered the minimum salary I would be comfortable with and decided on $75k. Kind of funny to see that lines up exactly with this tweet.
If you're hoping to strike it rich, is a founder's "salary" really what matters to the founder? I'm sure it does day to day, but I'm not sure it's their main focus.
The tension is that investors don't want to invest in founders paying themselves, but they also don't want founders distracted by personal financial constraints.
Taking less money than what you would have earned as an employee seems counter intuitive to me.
The salary reported here is well below market rate. I would definitely have enough savings to tank taking a lower salary for 1-2 years, but ideally I like to keep that for emergencies.
Is this what founders are doing now? Or maybe these founders are just so well off personally that taking a lower salary doesn’t mean anything.
That question is largely why I'm not on Twitter much at all.
I wish someone could give a little more context, or ... I wouldn't be yelled at for honestly not knowing and asking. I get folks being Socratic is a common troll tacit but it's so bad that you can't not know and ask sometimes without being mistaken for a troll.
There is a simple rule in business, if you don't want your databases to be stolen and go to competitive organizations, then keep employee salaries under control. The cost of this bar depends on the country. For example, in Russia, such a reasonable bar averages $ 2,130 per month.
While I applaud the idea, this is an extremely small sample size. All the more since it's then divided into US salaries and EU salaries.
And we don't know if EU means Denmark or Romania.
The salary reported here is well below market rate. I would definitely have enough savings to tank taking a lower salary for 1-2 years, but ideally I like to keep that for emergencies.
Is this what founders are doing now? Or maybe these founders are just so well off personally that taking a lower salary doesn’t mean anything.
Are founders taking loans? Using personal savings until potential converts to real? Taking loans from retirement fund (401K)?
So for companies that raised at least 100k but but not more than the next band of 5m, the average salary was 75k.
I wish someone could give a little more context, or ... I wouldn't be yelled at for honestly not knowing and asking. I get folks being Socratic is a common troll tacit but it's so bad that you can't not know and ask sometimes without being mistaken for a troll.