I’m currently working on my MVP with my other co-founders and the assumption is that I would quite my job once we receive our seed round. I’m not sure what the salary amount would be in respective of our burn and even reaching a series A.
My current role is senior eng making low 6 figures given the state of the market.
Our assumption is our seed would be around 3~5 mill and I would be taking the CTO role.
I’m trying to figure out what would be the appropriate salary and the opportunity cost of quitting my full time job?
Yeah I’m seeing people paying themselves 60-70K and I’m thinking that is a lot for a startup founder. Rule of thumb is if you’re saving money you’re paying yourself too much
This depends largely on where you live. In some places 60-70k is the minimum to survive comfortably.