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?
Ok, so one of my friends joined a startup, 3 people company where he is the CTO but not a cofounder. CEO and COO are the cofounders. CEO decided to give $230k to each one of them. When he was talking to VCs they asked him why he was drawing such a huge base salary as a cofounder? After that VC call he and the COO changed their salary to $40k. They are raising seed round of $3M.