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?
I’ve been cto/co-founder of 4 vc backed startups that have each raised $3-5m seeds and each sold for varying levels of success. Expect a salary around $150k and increasing a bit each time you raise. Your investors will want your incentive to be with your equity, so don’t expect a salary anywhere comparable to market rate until the company is growth stage and profitable. Any salary over $150k typically also has to be approved by the board. Our seed investors always took a board seat, but that’s not always the case.
Quite expensive trait to get it confirmed with board members.