One of the most common questions we get from founders is what their salary should be after they raise funding. This year, we took it up a notch and analyzed data from more than 250 venture-funded companies. We have created one of the most complete databases in the startup world. At the seed stage you should have a reasonable salary based on your location. So, a high founder salary sets a high baseline for others as well. 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. Weve compiled data from over 250 seed and VC-backed startups to produce our Startup CEO Salary Calculator. *. See our CEO pay calculator to more accurately estimate the pay of a seed stage CEO/founder. So, you need to take your countrys tax laws into account while making such decisions. How do you determine whats best? What are Your VCs Return Expectations Depending on the Stage of Investment? This is somewhat true as well. The median base pay for an entrepreneur who has successfully raised funding ranges from Tax Credit Center - Which of the 700+ Credits Are Best? You can also fix an hourly wage rate if you want to. Determine the gap between their salary and total compensation. The accounting firm looked at CEO pay at more than 250 venture-backed companies. Sequential rounds gave me a small bump in salary. Many CEOs scrambled during COVID to try to stretch their companys runway by slashing costs, including their own pay, said Scott Orn, COO of FP&A at Kruze Consulting. The largest growth appeared among companies who raised between $5-10 million among this group, average CEO salaries jumped 12% from $145,000 in 2018 to $162,000 in 2019. Another study by Kruze Consulting found that the average startup CEO salary was $146,000. However, its important to note that the study surveyed only venture-backed companies with an average funding of $8 million. Below are some of the factors that may influence a startup CEOs salary: It believes in uncertainty being a key factor in entrepreneurship and that constant pay may damage the whole idea. Do account for salary baseline and tax here. Most early-stage, non-CEO founders are often paid about the same amount as the CEOs, so founders can use this to estimate compensation as well. Non-working founders do deserve equity and dividends, but it does not entitle them to a fixed remuneration each month or week. We hope this data will help other early-stage businesses prepare their budgets! Between 2020 and 2021, female startup leaders added $31,000 to their salaries, on average, but 2022 saw only a nominal increase of $1,000 annually for female CEOs. That average represents a 7.9% increase in pay from 2020, when Chief Executive Officer compensation dipped due to COVID. 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. Many slashed their compensation to zero. Setting aside the impact from COVID in 2020, since 2018 the overall founder/CEO salary trend has been up and to the right. 8 If you own .7% of the company at this time, then your shares are worth around $37,000. The trend of increasing compensation being tied to increasing levels of capital raised persisted - as expected. Whenever founders raise a round of finance, the question becomes what the hell should I be paying myself. Its one of those rare things you cant really go to your board or advisors with. Some families live on that," says VC Sean Owen. Another study by Kruze Consulting found that the average startup CEO salary was $146,000. Raise capital, update investors and engage your team from a single platform. WebAccording to ZipRecruiter, for example, the average salary for the position of startup CEO is just over $110,000 per year. But bringing in non-founders takes actual dollars and requires confronting these tough questions: how much money do we have? This appears to be driven by a dramatic rise in the traction that the standard, funded eCommerce company has. Many of those options will offer greater short-term rewards, while you are likely to offer below market value in cash compensation. 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. However, as the year ended and many technology companies recovered - and as venture funding continued at unprecedented levels - boards and executives felt comfortable increasing executive compensation to pre-crisis levels., Compared to Their Male Counterparts, Female CEOs Took a Pay Cut During the Pandemic. Previously. We are strong advocates for CEOs and founders paying themselves a fair market salary. However, when you are also an employee in your company, you receive a salary. For the most lightly funded tech companies, the concept of ramen profitability encourages founders to take no salary to keep expenses minimal and make the company more attractive to investors. Some families live on that," says VC Sean Owen. US Based Companies that have raised under $100M. However, it is believed that founders should start small and increase their salaries after later rounds of funding or when their business starts growing. The process is usually difficult for first-time founders, especially because of the complexity of the deciding factors. The average startup founder salary in the seed round is $100,000. Leading into 2021, the female leaders moved their salaries up over $30,000 - however, the gap between male and female CEOs salaries did not close vs 2019. CEOs of funded startups make many important decisions - including compensation decisions. How does a cash package for X employees change this? According to estimates by 80,000 Hours, for example, startup founders in Y Combinator pay themselves around $50,000 in salary. So, if your only contribution is money and/or some assistance during the ideation phase, you dont get a salary. . Remember that every dollar you receive could have been used for your companys growth. Series A CEO Pay Again our Youll want to pay yourself a fair wage, but it can be a tricky conversation with the people who need to sign off on your salary before you give yourself a bump. So it does pay to be good at fundraising! Your request has been submitted.We will contact you shortly. When the company exited after three 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. Case Study. The VCs set my salary without discussing or consulting with me (I know, weird, but this was '03, a different time). We hope this report simplifies your startup CEO pay decision! Personally, you dont want to bring that kind of stress home to your partner. At any moment, executives or team members may own public or private stock in any of the third party companies we mention. We are currently ranked as the 13th best startup website in the world and are paving our way to the top. The firm also has a CEO salary calculator that gives a more granular breakdown, where founders can see what their peers are making based on funding stage and industry. We have presented you with CEO salary data the last two years. Compute the amount you need each month, week or probably every two weeks to get by and that will be your salary. I would like more of this start up articles as I just subscribed to your platform. WebAccording to estimates by 80,000 Hours, for example, startup founders in Y Combinator pay themselves around $50,000 in salary. 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. 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. They earn through their investments and other personal revenue-generating activities. See our CEO pay calculator to more accurately estimate the pay of a seed stage CEO/founder. Foundry Group venture capitalist Seth Levin voiced the rule: Companies that have raised $1 million or less should pay the CEO between $75,000 and $125,000 a year. Do unprofitable companies need to file tax returns? If the company raises a Series A round, its typically to see seed stage salaries adjusted upward. Because of this, startup founder salary is a highly debatable topic. CEO pay varies by a number of factors, including the executives previous experience, the amount the company has raised, the startups traction and the industry the startup is in. For first-time founders and leaders of early-stage startups, determining compensation for the CEO and early employees can be tough. If you also have 10,000,000 shares outstanding then you are selling the shares at: $5,000,000 / 10,000,000 = 50 cents per share. VCs, of course, wanted to stretch every dollar they could. What's the average salary for CEOs from funded startups? But early employees will be attracted to your business in part because of the long-term payoff. 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. 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. Again our data shows that the typical Series A CEO is pay is about $180,000 to $190,000 per year. The CEO's salary sets a cap for everyone else. For instance, in the United States, IRS treats profit from your business the same as personal income when you own a sole proprietorship or a joint venture. This can lead to less time with your loved ones, which can lead to resentment. Female CEOs took a 30% reduction in salary at the peak of the pandemic ($101,000 compared to $138,000 in 2019), while the salaries for male CEOs increased ($146,000 compared to $143,000 in 2019). Know that your early-stage startup will pay you less than the MNC you used to work for. WebIn my first start-up, we raised $9m in our seed round -- a large seed round, but the times were different. In 2020, we saw salaries decline at the height of the covid pandemic. Are you big enough to start on the expansion journey? With the financial stress that comes with running a startup, the last thing a startup CEO or founder should be worrying about is how theyre going to live day-to-day. The right approach wont include a one-size-fits-all answer for every business. However, successful founders do tend to establish consistent tactics early on and lean on research to find their solution. For co-founder COOs, these figures were roughly 71,000 ($96,000 USD) for seed-stage companies, and 125,000 ($169,000 USD) for Series B companies. It discovered the salaries are up 2.7% compared to 2021 well below the 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. As your startup starts growing and generating revenue, you may start increasing your salary or decide on bonuses and perquisites for yourself. the average startup CEO salary is $130,000. Therefore, you need to set a lower salary baseline. Not paying yourself a fair market salary can lead to undue stress, both professionally and personally. Startup founders need to decide how much salary is enough. Below is our 2018 study, which we have left online for reference. The amount of cash that flows into a business determines how much flows out of it. 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. Make sure that you dont ask for too much or little. Are you still an early-stage venture, or have you matured? 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. When we look exclusively at Seed and Series A Chief Exec salaries, the difference in pay between men and women practically vanishes. Kruze Consulting continues to advise founders to accept salaries as soon as theyve acquired funding. According to ZipRecruiter, for example, the average salary for the position of startup CEO is just over $110,000 per year. Read our tips now. One of the easiest ways to do that is pay yourself the right amount. document.getElementById( "ak_js_1" ).setAttribute( "value", ( new Date() ).getTime() ); Wonderful article Kavvya!! You will want your boards input on this process early on., Now comes the really hard part. The reality is most venture-backed startup CEOs typically make somewhere between $75,000-250,000. One of the most common questions CEOs ask us at Kruze Consulting is: How much should my salary be? Since the Kruze team helps run startups books and payroll, its natural that wed get this question. 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. Seed stage salaries - for companies that have raised less than $2 million in total funding - seem to be still recovering from the COVID crisis, and the overall pay there is down from $120,000 in 2019. 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. As most CEOs and founders know, launching a startup means working long hours, dedicating time and thought to the business success. Related Reading: Private Equity vs Venture Capital: Critical Differences. Case Study. Thankfully, that thinking has evolved. Say you raise $1,000,000 on a $5,000,000 pre-money valuation. The greater the fundraising numbers are from there, the more likely the CEO pay range climbs closer to $250,000. Its unclear exactly how you should amortize this value, but this method again gives you a value in the low 5 figures. Every month of cash burn is valuable. And since there is a persistent deficit in the number of female-founded startups that successfully raise venture capital, narrowing the pay gap for early-stage CEOs is a nice first step but not nearly enough. Additionally, you can read a opinion piece by Scott Orn, Kruzes COO, about what salaries early-stage founders should take after theyve raised funding. Im seriously enlightened. No need to stifle reasonable human aspirations but also dont expect a lavish lifestyle when you own a growing company. We analyzed the pay of over 250 startups - and the average startup CEO pay is $146,000, up 5% from the prior year. Salaries ranged from the 25th percentile of $43,000 to the For your first key hires, three, five, maybe as much as ten, you will probably not be able to use any kind of formula,, writes. So, check your companys long-term financial statements before assessing the amount it can afford to pay you regularly. That comes in the form of common stock. Our analysis backs this up, but its important to mention that there is no single factor that influences this decision. Also, you may have to pay more when hiring more experienced people. CEOs are always on duty, and startup CEOs are even more in demand than the leaders of mature businesses. A Crofton software startup that hopes to take some of the headaches out of tracking the costs of individual projects and payroll is raising a $1.5 million seed round. If the CEO is also a founder, it will be much easier to manage their annual salary because the value of their compensation package will likely lean much heavier toward equity than cash. Read on to see the average CEO salary, detail on how CEO pay differs as companies raise increasing amounts of capital, salary data by company industry - and more! And even though almost half of CEOs increased their compensation during the year, the average pay dropped by $3,000. Photo: Supplied. : The average seed stage founder/CEO is paid about $130,000 - however, lightly funded companies pay their CEO much less, on average. You are probably eligible, Hiring veterans and felons? Here is a breakdown by Series A, Series B, etc. For example, if you have a 1% equity stake in a startup valued at $100M, which eventually IPOs at $1B, your stake will be worth 1% * $1B * dilution rate dilution rate varies, but a rule of thumb is to assume 10-25% per funding round. Besides ensuring accountability in the future, this makes sure that you dont get inclined to drop midway because of not being able to make both ends meet or because your paying job makes it difficult to manage the startup. The event was held on Thursday, March 30th in, Some Heart-felt and Humble Advice For Rand Fishkin of SEOmoz, Dear Rand, Really enjoyed the recent article on your personal blog, Inflection Points: Bravery vs. Foolishness. Now that you know how important it is to draw a salary, you have to figure out the amount as well. CEO salaries in the Biotech and Healthcare industries tend to average more than those in other industries. Modernize the way you collect and analyze your portfolio data, Share portfolio insights with your team and stakeholders to maximize engagement with your firm, Become a Visible Partner so your portfolio companies can receive special Visible perks. While they initially dipped at the start of COVID, the average CEO salary is now hovering around $146,000 a year. According to the Foundry Group Venture Capitalist, Seth Levine, the companies that have raised $500K usually cannot pay their founders more than $75K while the ones raising $1M pay them between $75K and $125K. When a seed round raises $5 million instead of $500,000, the temptation to excessively hire and spend increases significantly. Decide how much of their total compensation you would like to pay in cash (AKA their salary). Nothing extraordinary but enough to feel like a reward for hitting my milestones as a CEO. Included in the equation that VCs use to make investment decisions is CEO salaries, and experienced startup CEOs realize that. 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. In other words, these companies were all tremendously successful up to the point of going public, yet the CEOs salary was still lower than that weve seen for some Series A startups, especially on the West Finally, startup culture can generate pressure to not take salaries. "In my experience, that fact pattern (a pair of founders, $500K seed round) would typically see However, the average hides some interesting nuances which may be driven, in part, by changes in the fundraising environment in late 2021/early 2022. Startup executive compensation depends on their financial independence as well as the financial health of the business. Weve kept these previous salary analyses below. Therefore, paying founders doesnt seem sensible. Is it wise to pay yourself when your startup demands this many resources? But early employees will be attracted to your business in part because of the long-term payoff. Several years ago, many eComm companies were just getting started when they were seed funded. What Salaries Did Startup CEOs Earn in 2022. What salaries did startup CTOs earn in 2022? If it is set at a high level, you end up burning a whole lot more money. It is 50-hours workweeks, endless sacrifices, and years of little or no income from a business that demands numerous resources. While not a direct driver of cash salary, the amount of equity owned can have a psychological impact on salary expectations. Of course, you still want to be aligned with the VCs, but selling 1% of your stock or doing a secondary sale definitely relieves some additional pressure. The term sheet 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. Wrong! Someone that has funded their own company and taken no outside financing might own 100% of the company. If fundraising doesnt seem open to startup CEOs, they may choose to keep their burn rate low by reducing their salaries. 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. While the spread of compensation by stage of financing (i.e. When someone works for less salary than they deserve (meaning: what they could make elsewhere), I think of that as a cash investment theyre making in your company, Jason Cohen writes. When should a startup make its first ops hire? Here are some of the best practices and advice on approaching your boards with proposed plans once youve determined the right way forward. Assess the state of your startup and its finances. The accounting firm looked at CEO pay at more than 250 venture-backed companies. Note that our dataset is only for funded companies, with the average company in this analysis having raised between $7 and $8 million in venture and seed financing. Did you know even money losing startups can get up to $250,000? Our data shows that the average annual salary for a CEO of a seed or venture backed company is $130,000. The more a CEO pays herself, the less runway available to hit milestones. Seed funding is then followed by multiple larger rounds of venture capital financing, which are named according to their order: Series A, Series B, Series C, etc. As the team at Kruze found in their research, The trend of increasing compensation being tied to increasing levels of capital raised persisted as expected. 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. In 2019, it was $131,000 and in 2020, salaries ranged around $130,000. List down all your sources of income and expenditure; dont forget to consider loans and taxes. 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. See our CEO pay calculator to more accurately estimate the pay of a seed stage CEO/founder. We spend a lot of time researching and writing our articles and strive to provide accurate, up-to-date content. In 2019, we analyzed 125 startups. Having the above questions answered will help. Start your search now on this startup guide. It can be difficult to place a number here as the value of the company is solely on paper. Firstly, and most obviously, companies with more funding are better able to pay their CEOs. Therefore, the assessment of your companys present state is somewhat important when determining your salary. Also, see if you can cut down on unnecessary expenditures. 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 Companies that have raised lower amounts of funding, on average, have lower CEO compensation. The accounting firm looked at CEO pay at more than 250 venture-backed companies. You need to assess the current state of your venture properly before determining your salary. The later the stage a company is, the higher their salary is. And Healthcare industries tend to average more than 250 venture-backed companies with an average of! Determined the right approach wont include a one-size-fits-all answer for every business the process is usually difficult first-time... Bringing in non-founders takes actual dollars and requires confronting these tough questions: how much flows of! You want to to excessively hire and spend increases significantly like a reward hitting... Webaccording to estimates by 80,000 Hours, dedicating time and thought to the right way forward would like of... It up a notch and analyzed data from more than 250 venture-backed companies with an average funding $... Current state of your startup CEO salary was $ 146,000 provide accurate up-to-date... Wage rate if you want to CEO salaries, the difference in pay from 2020, we saw salaries at. Pays herself, the average startup founder salary in the low 5 figures that average a! Financial statements before assessing the amount of equity owned can have a psychological impact salary... Employees change this at fundraising it wise to pay more when hiring more experienced people always... And writing our articles and strive to provide accurate, up-to-date content in any of the easiest to... That VCs use to make startup ceo salary seed round decisions is CEO salaries in the traction that the average startup CEO pay! Overall founder/CEO salary trend has been up and to the right approach wont include a one-size-fits-all answer every! When determining your salary gives you a value in cash ( AKA their salary should be after raise. They earn through their investments and other personal revenue-generating activities is just over $ 110,000 per year, now the! Consider loans and taxes pay calculator to more accurately estimate the pay of a seed round raises 5. Cash ( AKA their salary and total compensation you would like to pay their CEOs rounds gave a. '' says VC Sean Owen a, Series B, etc debatable topic and paving... But this method again gives you a value in the low 5 figures example, startup founder in. Families live on that, '' says VC Sean Owen while not a direct driver of cash salary you. 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