Negotiating remuneration with a startup
Discussion
I have been informally offered a job with a startup (3 yr old) we have not yet discussed salary etc but I was hoping for some advice from ye learned gentlemen and woman. Company is Ltd and has a number of external investors.
I would be fairly instrumental in the growth of the business - No doubt others could do this role but regardless of that. The more effort one puts in, the faster that growth will be.
I could accept a salary (no idea how to figure out what that should be). But from prior experience I find I am motivated better if the amount of work I do correlates to the rewards I receive. Or more that - working above and beyond is rewarded. Struggle with the idea of working my butt off to make someone else horrifically wealthy.
I would like to ask for shares or a performance related bonus of some kind to reflect working above and beyond. I am unsure how this should be asked for and what specifically I should be requesting?!
Any first hand experience of negotiating salary/benefits/bonus/shares?
I would be fairly instrumental in the growth of the business - No doubt others could do this role but regardless of that. The more effort one puts in, the faster that growth will be.
I could accept a salary (no idea how to figure out what that should be). But from prior experience I find I am motivated better if the amount of work I do correlates to the rewards I receive. Or more that - working above and beyond is rewarded. Struggle with the idea of working my butt off to make someone else horrifically wealthy.
I would like to ask for shares or a performance related bonus of some kind to reflect working above and beyond. I am unsure how this should be asked for and what specifically I should be requesting?!
Any first hand experience of negotiating salary/benefits/bonus/shares?
Thank you all for your thoughts on this, some really interesting points.
I purposefully kept it a big vague as you never know who is looking.
In essence the company has been an R&D company over the last 3 years. staff of around 10-15.
With my help (as a contractor) we have managed to get significant orders in for a product that does not yet exist. We knocked together a very quick prototype to win the order. My role would be to oversee the design of a manufacturable product as well as set up the production facility to scale production in a very short period of time. I guess we would end up with a team of around 30 additional people on this project.
It would be quite a leap to move from my current secure job into what will be a very fast pace job consuming more than the usual 9-5.
If I get it right the turnover should be pretty high. Hence why I was curious to gauge what else I should be asking for along with a salary. Mainly a bonus in return for losing more of my hair
I purposefully kept it a big vague as you never know who is looking.
In essence the company has been an R&D company over the last 3 years. staff of around 10-15.
With my help (as a contractor) we have managed to get significant orders in for a product that does not yet exist. We knocked together a very quick prototype to win the order. My role would be to oversee the design of a manufacturable product as well as set up the production facility to scale production in a very short period of time. I guess we would end up with a team of around 30 additional people on this project.
It would be quite a leap to move from my current secure job into what will be a very fast pace job consuming more than the usual 9-5.
If I get it right the turnover should be pretty high. Hence why I was curious to gauge what else I should be asking for along with a salary. Mainly a bonus in return for losing more of my hair
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