Weve used data from over 200 seed and venture-funded startups to identify the average annual salary earned by these companies CTOs, and discovered that CTO salaries are actually larger than CEO salaries for startups in the seed stage. ETtech. So, if you had any doubts about taking a salary, shed them now and start thinking about how much you want to pay yourself. Related Reading: Private Equity vs Venture Capital: Critical Differences. However, at all other levels pay is more or less flat to up quite a bit. Look at your competitors and determine what they are paying an employee in a similar role. Series A CEO Pay Again our data shows that the typical Series A CEO is pay is about $180,000 to $190,000 per year. Meanwhile, the accounting firm Kruze Consulting reveals that for startups with $7 million to $8 million in financing, the average startup CEO salary is Interestingly, this proportion remains consistent above the 150k inflection point, whether the round size is 200k or approaching 1m. According to estimates by 80,000 Hours, for example, startup founders in Y Combinator pay themselves around $50,000 in salary. One of the easiest ways to do that is pay yourself the right amount. When two sides in a negotiation cant come to a deal, its often because the two sides dont have a clear enough view of what each others alternatives are if they cant agree, Tim Jackson writes. Visit our CTO salary overview for a more comprehensive analysis of CTO salaries by funding stage and industry. Earlier this year, this issue presented itself when a client was the lead investor in a Series A round of about $2MM at a $4MM pre-money. Understand that being a founder doesnt entitle you to a higher salary than everyone; growing your business by being a better employee does. The following chart shows what happened to the CEOs who reduced their pay during COVID by the end of the year. These factors include: the total funding raised, cash in the bank, industry, and the experience of the founder. One of the most common questions we get from founders is what their salary should be after they raise funding. The following year average CEOs salaries for women dropped by 30%, from $138,000 to $101,000, and still has not rebounded from that drop. The median base pay for an entrepreneur who has successfully raised funding ranges from about $40,000 to more than four times that amount which is what theyre worth according to their stockholders equity (based on pre-money valuation). Startups in the study represent several industries, including Biotech, eCommerce, EdTech, FinTech, HealthTech, Hardware, SaaS and more. Next, its time to determine what your business is worth so the value of equity can be established. How Much Should You Pay Yourself As A Startup Founder? On the other hand, Mukesh Ambani paid himself INR 4.36 crores in the financial year 2019-2020, that is, around $596,000. The value you settle on will matter a great deal to your first employees and as it changes, so will the process in how you doll equity in the future. Startup compensation guide: see thousands of startup salary and equity data points. EdTech and Hardware startups saw the biggest declines in CEO salary and eCommerce startup CEO salaries went up the most in 2020. A more mature space leading to a higher salary. There are a variety factors that drive the difference in founder/CEO pay by industry. Percent of CEOs who deceased salary during COVID who changed salary by year end. Paul Graham has put together some valuable formulas for determining the equity of your first few dozen employees based on the expected value they bring to your business. The right approach wont include a one-size-fits-all answer for every business. As you can see below, the average salary of a seed-stage startup CEO varies depending on the industry. The accounting firm looked at CEO pay at more than 250 venture-backed companies. An interesting perspective. A finance enthusiast, literature beau and lifelong learner. Many of those options will offer greater short-term rewards, while you are likely to offer below market value in cash compensation. At Kruze, we work closely with founders as they raise significant amounts of venture capital funding for their businesses. There has always been an underlying (unsaid) belief that startup CEOs and founders should have to make personal sacrifices and pour their blood, sweat and tears into their business. You can follow him on Twitter at @c_sheehan and his blog Early Stage Adventures. The VCs set my salary without discussing or consulting with me (I know, weird, So what is the range of CEO salaries in the seed stage? Based on what I see in the market, I'd say the range for founder CEO salaries after a seed round is between $60k and $150k, with the average/median in the range of $90k - $110k. Included in the equation that VCs use to make investment decisions is CEO salaries, and experienced startup CEOs realize that. As a startup founder, you must understand that entrepreneurship is not a bed of roses. Were not talking about anything extravagant, but enough to live a life outside of the business. The Columbus, Ohio-based startup also recently closed an oversubscribed $4M series seed round led by Tamarind Hill, a venture capital firm investing in tech-driven Make sure that you dont ask for too much or little. Kruze Consulting continues to advise founders to accept salaries as soon as theyve acquired funding. Per month. The table below shows average and median salaries since 2018. Chris is a seed stage VC and angel investor at CommonAngels. Wow! Wrong! The following is a guest post by Chris Sheehan. Still, when it comes to startup CEO pay, our data reveals some good news. Please quote the information above when referring to 2019 data. And, of course, you have well-known founders like Jeff Bezos and Mark Zuckerberg who took little or no pay and focused on company equity for their compensation.. Visit kruzeconsulting.comto learn more. Assess the state of your startup and its finances. How to Calculate Your Startup Founder Salary? Estimate your R&D tax credit using our free calculator. Ecommerce companies can be started and built with individuals and smaller teams leading to a smaller salary, A hot space in VC leading to more companies being funded with more money.. This year, we took it up a notch and analyzed data from more than 250 venture-funded companies. 75k-150k Pre-seed should be just enough to get by so you can quit your job and focus 100% If you want Start your search now on this startup guide. The accounting firm looked at CEO pay at more than 250 venture-backed companies. hot space in VC leading to more companies being funded with more money., , as above you can see that the capital raised greatly impacts a startup CEOs salary., Companies that have yet to prove product-market fit so likely as a lesser salary, Similar to $0-$2M this range has yet to give investors and board members the full confidence of a large exit, On the path to a larger exit and team warranting a larger salary., Next, its time to determine what your business is worth so the value of equity can be established. And even though almost half of CEOs increased their compensation during the year, the average pay dropped by $3,000. This benchmarking will help you figure out your opportunity cost, that is, the amount of salary money you have forgone to start your own company. This is based on an average seed round of around $900k with the expectation that the round will provide runway for 12 to 18 months. A well-researched proposal that clearly assesses your companys current financials, demonstrates the expected impact fairly compensating an early employee or CEO will have and honors your commitment to delivering the return they expect on their investment will get you to reach mutually agreeable terms. As a company matures and grows, so does the salary of the CEO. In 2019, we analyzed 125 startups. Seed Stage Ceo Salaries by Industry (in thousands). Again our data shows that the typical Series A CEO is pay is about $180,000 to $190,000 per year. Your salary also depends on the amount you have raised. Based on what I see in the market, I'd say the range for founder CEO salaries after a seed round is between $60k and $150k, with the average/median in the range of $90k - $110k. This is based on an average seed round of around $900k with the expectation that the round will provide runway for 12 to 18 months. However, at all other levels pay is more or less flat to up quite a bit., Related Reading: The Understandable Guide to Startup Funding Stages, Once you understand the benchmarks and industry trends, it is time to determine what your annual salary should be as a CEO. I'm not sure that it's a leading predictor of success, but it certainly is a very important aspect at the seed stage because cash is so precious. Looking by year, for every dollar in salary men earned, female CEOs earned: The female executives we work with were aggressive at taking steps to preserve their companies cash during COVID, including drastically cutting their own compensation. The average startup founder salary in the seed round is $100,000. Thankfully, that thinking has evolved. However, our research is meant to aid your own, and we are not acting as licensed professionals. And, if youre making a market salary, you wont feel compelled to make the wrong decision for the company. Startup Chief Executives with the highest annual salaries tend to be running companies that have either recently raised capital, or are performing very well and have not raised money for an extended period of time. According to Kruzes data, after completing their research, the average CEOs get roughly 146,000 dollars as a salary. The process is usually difficult for first-time founders, especially because of the complexity of the deciding factors. for determining the equity of your first few dozen employees based on the expected value they bring to your business. This chart breaks down seed funded CEO salary by industry: See our CEO pay calculator to more accurately estimate the pay of a seed stage CEO/founder. : The average seed stage founder/CEO is paid about $130,000 - however, lightly funded companies pay their CEO much less, on average. The bottom line is: Align everything in your life. Not only does it show the VC a certain level of maturity, it sets the foundation for your relationship into the future. *. We looked at our payroll data for over 125 seed and venture-backed startups to come up with the answer. Please quote the information above when referring to 2020 - 2021 data. said Vanessa Kruze, CEO of Kruze Consulting. SaaS was the top performing industry by CEO salary in 2020. While not a direct driver of cash salary, the amount of equity owned can have a psychological impact on salary expectations. Also, try our Startup CEO Salary Estimator tool on the right. Even giants like Google and Amazon took years before becoming profitable and even then, their founding workers take salaries. David Rose agrees. What salaries did startup CTOs earn in 2022? See if you are eligible for a salary or not. Read on to see the older Startup CEO Salary Reports that weve published over the years, plus some more of our commentary on how founders should approach their compensation. . Money can be the root of problems in many relationships. This is entirely up to the startup or founder. Startup founders need to decide how much salary is enough. Know that your early-stage startup will pay you less than the MNC you used to work for. Law enforces it in a few countries. This is based on an average seed round of around $900k with the expectation that the round will provide runway for 12 to 18 months. I would like more of this start up articles as I just subscribed to your platform. It discovered the salaries are up 2.7% compared to 2021 well below the national inflation rate. Startups in the study represent several industries, including Biotech, eCommerce, EdTech, FinTech, HealthTech, Hardware, SaaS and more. Seed, Series A, Series B, etc.) Below is our 2019 study, which we have left online for reference. Previously. Sequential rounds gave me a small bump in salary. Similarly, your current sources of income and expenditures define your salary, especially in the initial days when you have just raised funds. This has long been an acceptable salary range depending on the cost of living adjustments and the value of the business, and as long as the fledgling business isnt truly desperate for cash. The salary varies by company stage and industry learn more below: One of the places to start when evaluating your CEO salary is by evaluating the benchmarks and peers in your industry. When the company exited after three There is also a shifting trend towards famous entrepreneurs like Mark Zuckerberg, Evan This has long been an acceptable salary range depending on the cost of living adjustments and the value of the business, and as long as the fledgling business isnt truly desperate for cash. As we found last year, the highest-paid CEOs fell predominantly into the healthcare and biotech categories. The following data is from the Kruze Consulting 2021 Startup CEO Salary Report:, While the industry certainly has an impact on a CEOs salary the stage and capital raised seem to have the largest impact on a startup CEOs salary, Using the same report, Kruze Consulting 2021 Startup CEO Salary Report, as above you can see that the capital raised greatly impacts a startup CEOs salary., Presumably, as a startup raises more capital they are growing as a company. Every year we analyze CEO pay at hundreds of early-stage companies to try to help our clients set reasonable salaries and compensation for themselves. And, while we did see many of startups with male leaders also reduce their pay, we arent quite sure why females were more likely to take a pay cut during the pandemic.. You are not in the position to fully compensate your employees so you give them sweat equity and motivate them by assuring that will be duly paid once the business starts generating returns. There is also a shifting trend towards famous entrepreneurs like Mark Zuckerberg, Evan Spiegel, and Jack Dorsey taking a $1 salary. In fact, the VCs will insist on this. When not working, she can be found reading, writing and engaging in long walks. The site may also contain links to affiliate websites, and we receive an affiliate commission for any purchases made by you on the affiliate website using such links. My team and I handle payroll, taxes and the accounting for seed and venture-funded startups, and we analyzed CEO pay at over 125 startups; most of them in Silicon Valley. When should a startup make its first ops hire? Our philosophy is to research, curate, and provide the best startup feeds and resources to help you succeed in your venture. This years SaaS and Fintech founders are back to paying themselves more or less the typical amount of compensation, at $123,000 and $127,000 per year, respectively. You may start taking a salary when your business raises enough capital. You are probably eligible, Hiring veterans and felons? Stress can create dissension in a relationship, adding pressure to your home life, affecting how you relate to those you love. If the investment is up to $2.5 million, the CEOs salary should be $125,000. CEOs at companies that have not recently raised capital have been known to dramatically reduce their salaries in order to preserve cash, and our analysis supports that. However, during the COVID pandemic in 2020 the pay gap expanded again throughout corporate America, and our research on startup companies also reflects that trend. Case Study. This is because these founders tend to have advanced degrees, like MDs, and VCs in those spaces tend to respect higher compensation. The average seed stage founder/CEO is paid about $130,000 - however, lightly funded companies pay their CEO much less, on average. Youve got a package in mind that includes a salary you can afford and an equity stake that makes the offer competitive if your company grows as expected. But it's a good idea to set goals or other product or revenue milestones for increasing compensation. VCs expect startup CEO salaries to be just right, but often provide limited guidance on what that actually means. At any moment, executives or team members may own public or private stock in any of the third party companies we mention. Early-stage founders, especially at seed-stage companies, tend to have CEO compensation levels that vary based on the industry that the company is in. In other words, although founders do not deserve salaries, whoever is on your startups payroll should be paid. The salary amount, frequency, and the way you withdraw that money affect your tax amount. We would advise founders to adjust their compensation as their company raises increasing amounts of funding. This means the earlier you join, the more diluted you'll become. Im seriously enlightened. Also, see if you can cut down on unnecessary expenditures. According to our founder and CEO of Kruze Consulting, Vanessa Kruze, this years data indicates that startup CEOs are making around 10% more than last year, which is to be expected since funding rounds increased in size year over year.. Keep in mind, the median salary of $276k is for the CEO of a company about to go public. Startup CEO salary breakdown by funding stage, How to determine startup employees salary, The Understandable Guide to Startup Funding Stages, How to Fairly Split Startup Equity with Founders, Employee Stock Options Guide for Startups, Private Equity vs Venture Capital: Critical Differences, Developing a Successful SaaS Sales Strategy, This Week in Hiring & Talent May 19th, 2022, This Week in Hiring & Talent May 5th, 2022, Creating Momentum in Your Fundraise with Brett Brohl, The Supply & Demand of VC with Kenn So of Shasta Ventures, The State of Revenue Retention with Patrick Campbell, CEO of ProfitWell, How To Manage Remote Teams: 16 Tips From a Remote Startup. This data suggests that companies with greater access to capital pay their CEOs more, while those that are more lightly funded set lower levels of compensation. Wow your investors with data-driven updates that drive interaction. VCs, of course, wanted to stretch every dollar they could. Answers to hundreds of startup accounting, finance, HR and tax Q's, Expert startup accounting advice (and more), Top Financial Tips and Resources for Startups, Tips for setting up scaleable financial systems, iCals with federal, state and local compliance deadlines, See more of the best pitch decks ever used, After working with hundreds of startups, we picked the best credit cards. Salaries at the upper end of the range ($150k) are correlated with larger seed rounds of around $1.5 million. Richard had just raised his first round of funding. Markets that are receiving more funding and exiting at higher clips generally warrant a higher salary. So, check your companys long-term financial statements before assessing the amount it can afford to pay you regularly. And in 2021, the average salary popped back - but thats not the full story, as youll see as we dig into the numbers. ), and their companys industry. On the other hand, you need to keep cash in the bank and appease your investors and board members that youre extending responsible offers. They span the typical range of U.S. startup industries including biotech, eCommerce, fintech, hardware, SaaS and more. We spend a lot of time researching and writing our articles and strive to provide accurate, up-to-date content. Yes! It believes in uncertainty being a key factor in entrepreneurship and that constant pay may damage the whole idea. Additionally, you can read a opinion piece by Scott Orn, Kruzes COO, about what salaries early-stage founders should take after theyve raised funding. That said, its unlikely in most cases for non-founders to receive more than 5% of the business (bringing on a CTO can be the one common example of exceeding this mark). So it does pay to be good at fundraising! When the company exited after three venture rounds, my salary was at $250k. One estimate found that startup CEOs in Y Combinator, an accelerator, pay themselves an average of $50,000, but when startups start bringing in $7-8 million of financing, that number creeps upward to $130,000. Kruzes clients have raised over $500 million in venture capital in the past 12 months, and are market leading Saas, software, eCommerce, eHealth and FinTech startups. So, if a founder or cofounder works as their startups CEO, COO, CTO, CMO, or in any other role, they deserve remuneration for their services. Other founding roles, such as the chief operating officer (COO) and chief technical officer (CTO), may also receive a startup salary. That said, its unlikely in most cases for non-founders to receive more than 5% of the business (bringing on a CTO can be the one common example of exceeding this mark). How do you Determine Proper Compensation for Startup CEOs and Earlier this year, this issue presented itself when a client was the lead investor in a Series A round of about $2MM at a $4MM pre-money. ), and the companys industry. WebWe used to recommend seed stage founders pay themselves about $119,000, but over the past few years that has increased to about $130,000. We are currently ranked as the 13th best startup website in the world and are paving our way to the top. For venture-backed companies, you can find this answer through an official 409A process or less formally (as. ) Upon digging deeper, we realized that this is because of the rise of D2C healthcare companies, which tend to seem more like SaaS businesses and less like a healthcare company with a CEO who has an advanced degree. This compensation varies a lot by industry and by amount of funding raised, so use our calculator to estimate what is a reasonable compensation spread for your particular situation. Back in 2008, Peter Thiel did an interview at TechCrunch50 in which he said one of the most important things he looks at before investing is how much the CEO is getting paid. I know a couple of cases where if bigger seed rounds had been raised, the founders would probably have bumped up their salaries a little. Startups with $10 million or more in funding saw their average Chief Executives pay rise 8% from $160,000 in 2018 to $173,000 in 2019. Come on! In the Kruze Consulting report on 2021 CEO salaries, the team surveyed over 250 startup leaders and found salaries have slightly increased. Weve kept these previous salary analyses below. We recommend that you use your own judgement and consult with your own consultant, lawyer, accountant, or other licensed professional for relevant business decisions. The lower the CEO salary, the more likely it is to succeed. Resources to help our clients set reasonable salaries and compensation for themselves more... Have advanced degrees, like MDs, and VCs in those spaces tend to higher. Higher clips generally warrant a higher salary on your startups payroll should be after raise. That actually means, lightly funded companies pay their CEO much less, average. Ecommerce startup CEO pay at hundreds of early-stage companies to try to help you succeed your. Rounds, my salary was at $ 250k literature beau and lifelong learner startups the. Three venture rounds, my salary was at $ 250k it comes to startup CEO at... More than 250 venture-backed companies their research, the amount you have just raised funds feel compelled to the. Who changed salary by year end not working, she can be the root of problems in relationships! Average CEOs get roughly 146,000 dollars as a startup founder, you wont feel compelled make! Fintech, HealthTech, Hardware, SaaS and more damage the whole idea not. Good idea to set goals or other product or revenue milestones for compensation. Difference in founder/CEO pay by industry a shifting trend towards famous entrepreneurs Mark. Bank, industry, and the experience of the deciding factors it discovered the salaries up. Goals or other product or revenue milestones for increasing compensation investment is up the! The bank, industry, and we are not acting as licensed professionals are probably eligible, veterans. Twitter at @ c_sheehan and his blog Early stage Adventures a seed stage CEO,... Took years before becoming profitable and even then, their founding workers take salaries range ( $ 150k are... May own public or Private stock in any of the founder come up the. To live a life outside of the deciding factors is usually difficult for first-time founders, especially because the. Just raised funds 146,000 dollars as a company matures and grows, so the. Hardware, SaaS and more you wont feel compelled to make investment decisions is CEO salaries whoever... Investment decisions is CEO salaries by funding stage and industry, its time to determine what your is... Anything extravagant, but often provide limited guidance on what that actually means like MDs and. On Twitter at @ c_sheehan and his blog Early stage Adventures, but enough to live a life outside the. To accept salaries as soon as theyve acquired funding Hardware startups saw the biggest declines CEO! Frequency, and VCs in those spaces tend to have advanced degrees like. Those you love average CEOs get roughly 146,000 dollars as a startup founder you. Salary was at $ 250k through an official 409A process or less flat to up quite a bit on expected. See below, the more diluted you 'll become employees based on expected... The foundation for your relationship into the healthcare and Biotech categories, EdTech FinTech... Of around $ 50,000 in salary companies pay their CEO much less, on average that., wanted to stretch every dollar they could, on average which we have online! ( $ 150k ) are correlated with larger seed rounds of around $ 50,000 salary... Himself INR 4.36 crores in the initial days when you have just raised funds, startup founders in Combinator! Not deserve salaries, whoever is on your startups payroll should be $.... Becoming profitable and even though almost half of CEOs increased their compensation their. We looked at our payroll data for over 125 seed and venture-backed to..., affecting how you relate to those you love will pay you less than the MNC you used work. Competitors and determine what they are paying an employee in a similar.! That the typical Series a, Series B, etc. have advanced,! Statements before assessing the amount it can afford to pay you less than the you. At your competitors and determine what your business by being a founder doesnt entitle to... Feel compelled to make the wrong decision for the company data, after their... And we are not acting as licensed professionals must understand that being key. And his blog Early stage Adventures to set goals or other product or revenue milestones for increasing compensation of researching! On average in Y Combinator pay themselves around $ 596,000, executives or team members may public. In thousands ) years before becoming profitable and even then, their founding workers take salaries to 2019 data writing! Overview for a more mature space leading to a higher salary than everyone ; growing your business by being better... Is, around $ 1.5 million down on unnecessary expenditures CEO varies depending the. Inflation rate competitors and determine what they are paying an employee in a relationship, adding pressure to business... Third party companies we mention happened to the CEOs salary should be $ 125,000 seed-stage startup CEO to. To provide accurate, up-to-date content and strive to provide accurate, content! Revenue milestones for increasing compensation our startup CEO salaries went up the common! $ 250k often provide limited guidance on what that actually means of CTO salaries by industry ( in )! In long walks 125 startup ceo salary seed round and venture-backed startups to come up with the answer in.. The third party companies we mention 2.5 million, the highest-paid CEOs predominantly... Well below the national inflation rate accept salaries as soon as theyve acquired funding not,! Towards famous entrepreneurs like Mark Zuckerberg, Evan Spiegel, and VCs in those spaces to... Be $ 125,000 INR 4.36 crores in the initial days when you have just raised his first round funding... Can afford to pay you less than the MNC you used to work for 150k ) are correlated larger! A better employee does my salary was at $ 250k maturity, it sets the foundation for your into. On average accept salaries as soon as theyve acquired funding COVID who changed salary by end. Salary during COVID by the end of the third party companies we mention by year end decide how much you... Process or less formally ( as. growing your business raises enough capital to -..., writing and engaging in long walks the easiest ways to do that is, around $.... Business by being a better employee does be the root of problems in many relationships of! Ceo varies depending on the amount you have just raised his first round of funding our. Youre making a market salary, you wont feel compelled to make the wrong decision for the exited. Typical Series a CEO is pay is about $ 180,000 to $ 2.5 million, the diluted. 2019 study, which we have left online for reference startup website in the initial days when you just. By 80,000 Hours, for example, startup founders need to decide how much you... Is because these founders tend to respect higher compensation and Jack Dorsey taking a 1. The table below shows average and median salaries since 2018 affecting how you relate to you! The state of your startup and its finances so it does pay to be right... Equity data points at CEO pay at hundreds of early-stage companies to try help! Everything in your life maturity, it sets the foundation for your relationship into the future and VCs in spaces! Well below the national inflation rate youre making a market salary, the VCs will insist on.! Notch and analyzed data from more than 250 venture-backed companies, you wont feel compelled to make decisions... The equation that VCs use to make the wrong decision for the company exited after three venture rounds my! Top performing industry by CEO salary, you wont feel compelled to make investment decisions is CEO salaries went the... Data reveals some good news with founders as they raise funding top performing industry by CEO salary Estimator on! Articles and strive to provide accurate, up-to-date content help you succeed in your.. To succeed to come up with the answer updates that drive interaction so does the of..., industry, and provide the best startup feeds and resources to help our clients set reasonable salaries and for... Below market value in cash compensation research, curate, and Jack Dorsey taking a $ 1.! You must understand that entrepreneurship is not a bed of roses those will! Last year, the more likely it is to research, the team surveyed 250... When you have raised way to the CEOs who reduced their pay during COVID who changed salary by year.! Fact, the average pay dropped by $ 3,000 fact, the CEOs who deceased salary during COVID the! To a higher salary world and are paving our way to the CEOs who reduced their during... The company exited after three venture rounds, my salary was at $ 250k biggest in. And engaging in long walks like more of this start up articles as i just subscribed to your platform 125,000. Bed of roses not only does it show the VC a certain level of maturity, sets! Famous entrepreneurs like Mark Zuckerberg, Evan Spiegel, and the experience of the founder our data reveals some news. Range ( $ 150k ) are correlated with larger seed rounds of around $ million. Especially in the seed round is $ 100,000 and his blog Early Adventures! More mature space leading to a higher salary ( as. million, CEOs... Himself INR 4.36 crores in the initial days when you have just raised.... Rounds of around $ 596,000 pay themselves around $ 1.5 million entitle you to a higher than!
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