Market Salary / Equity for Current Role Hardware / AI / Medtech Startup pre-seed ~$200k Current Yearly: 90k USD Extras: None Location: remote Responsibilities: - Every inch of software and AI - App, API, AI models, Data pipeline, Cloud Inference, some Dev Board Raspbian stuff - Delivered working MVP for Demo day - managing 1 other junior developer - providing technical answers to external parties - product planning - new hire interviewing - investigating devsecops / hipaa stuff - execution on all technical tasks and all code bases, Full Stack, Native Mobile, AI etc Founder: No Official title: Never Discussed Hired as contractor moved to full time for Demo delivery. Title should be: CTO? / VP Engineering? Now things have changed. Latest Round closed: seed $1.x mil The company formed before I met them, they have their founders thats fine, but I feel like theres no way they would have made it across the last line without me and I pushed hard, took a much higher per hour rate downgrade to a fixed monthly retainer and worked overtime to get us across the line. I want to remain remote due to geographical location differences but feel that my contribution of value should make this somewhat irrelevant. I want to renegotiate. What should I be aiming for? I would like retroactive vested shares, wage bump and nice equity package. Thoughts? What kind of base should I really be getting regardless of being remote? What kind of equity is fair in these times when I could probably go get a FAANG job? #startup #medtech #ai #cto #equity #vpeng
I know my current rate is way under. But now that we have the next round of funding there’s money to pay properly. The question is what is that number?
The real question is how much you believe in the product, if you do - take equity with a small increase (120?) if you don't start looking out for a new opportunity. Anyhow I'd ONLY do re-neg when I have some leverage - have a deadline to show something for investors?...you're the one who knows best how every bit is moving through the system?... The founders will probably willing to lose 1% or and extra 360k per year and be on time rather than behind schedule with the need to look for someone who will take a month or 2 to get into the dits...
Btw - never sign anything or verbally accept any offer without a lawyer taking a look or at least reading carefully and sleeping on it for a day or two, I personally know a guy who built the entire system for a startup (he got salary but also negotiated for equity) he accepted a contract that had in small letters that his 1% will be given according to future valuation, when time came his 1% was less than 0.01% since the company went through a significant round. Now a 0.01% is amazing for a new recruit on a medium sized comoany but for a person who built everything to get them through the rounds? Not so much... Moral of the story is - nothing bad ever happened from saying "how long this offer is valid for?" and give them an answer after that time frame
There's definitely room for equity, but 1.x mil is honestly a small amount of finding so if you're looking for a huge base increase I'd say look elsewhere.
Right, but my point is with no equity it’s really low. So either base goes up for there’s substantial equity. Any ideas on what that would look like?
Get a faang job first, then negotiate.
That will take months, surely I can just re-neg after that anyway.