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. In the Kruze Consulting report on 2021 CEO salaries, the team surveyed over 250 startup leaders and found salaries have slightly increased. 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. Roughly, for every additional $1,000,000 raised, a startup CEO will take home between $4,000 and $5,000 more in annual salary. The average CEO pay for seed funded startups is $119,000 - but it does vary by industry. Early-stage companies, as well as all other companies, should evaluate their policies to determine how the gender pay gap increased in the last three years, and see what steps they can take to better support female leaders.. It discovered the salaries are up 2.7% compared to 2021 well below the Another study by Kruze Consulting found that the average startup CEO salary was $146,000. Here are some of the best practices and advice on approaching your boards with proposed plans once youve determined the right way forward. One of the most important conversations to have with a venture capitalist, before you sign a term sheet, is the salary discussion. It discovered the salaries are up 2.7% compared to 2021 well below the national inflation rate. What salaries did startup CTOs earn in 2022? Salaries ranged from the 25th percentile of $43,000 to the 75th percentile of $156,000, with the 90th percentile at $274,500. 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. 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. 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. To help answer that question, we analyzed CEO pay at over 250 seed and venture-funded startups. For rounds of 150k or below, around half of founders secure a salary. This will help you avoid future hassles. Also, when founders salaries are scooped out of the treasury, the startup is left with fewer resources to function on. You may hire an accountant for assistance. Very few entrepreneurs have the courage to be that transparent. In 2019, it was $131,000 and in 2020, salaries ranged around $130,000. Case Study. 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. Professionally, you want to be on top of your game when it comes to making the right decisions for your 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. Even Amazons founder, Jeff Bezos earned around $81,840 as a salary in 2020. On the flipside, a founder that has raised multiple rounds of venture capital might only own a small % of their company. Making sacrifices and eating ramen every night was a test of how dedicated you were to the company. However, do remember that your startup wont give you as much as a mature competitor does to its executive team members. The firm handles all things Accounting, Tax, Finance, & HR: interim CFO Consulting, financial modeling, annual taxes, venture debt consulting, 409A reporting, bookkeeping, AR/AP, and Seed/Series A/B Fundraising Preparation. By the way, to see some survey data on what other people think the founder/CEO salary should be, check out the OnStartups poll on founder salary. How Much Should You Pay Yourself As A Startup Founder? Owners of mature companies can pay themselves more than growth-stage startup founders even when both generate good revenue. 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? Every stakeholder of the startup often needs direct contact with the CEO, and startup CEOs cant delegate everything. The one decline we saw was for eCommerce companies, who saw their salaries dip nearly 4% in 2019. 75k-150k Pre-seed should be just enough to get by so you can quit your job and focus 100% If you want Meanwhile, the accounting firm Kruze Consulting reveals that for startups with $7 million to $8 million in financing, the average startup CEO salary is The process is usually difficult for first-time founders, especially because of the complexity of the deciding factors. Case Study. One of the places to start when evaluating your CEO salary is by evaluating the benchmarks and peers in your industry. Startups in the study represent several industries, including Biotech, eCommerce, EdTech, FinTech, HealthTech, Hardware, SaaS and more. Getting someone to join your dream before it is much of anything is an art not a science.. Co-founder/CEO at EchoSign (acq'd by Adobe), Upvoted by Oliver Emberton , Founder of Silktide and 8 If you own .7% of the company at this time, then your shares are worth around $37,000. $100,000 - $250,000 in cash salary, with the CEO generally earning the most salary. This is an especially important question to answer when youre trying to hire your first employees. Seed, Series A, Series B, etc.) In my experience in New York, for seed round startups, founder salaries tend to be in the range of $75,000 $125,000, with the occasional outlier in both directions. Thats why its critical you have the salary discussion before you sign the term sheet and close on that investment. This year, we took it up a notch and analyzed data from more than 250 venture-funded companies. Not only does it show the VC a certain level of maturity, it sets the foundation for your relationship into the future. The more a CEO pays herself, the less runway available to hit milestones. What Salaries Did Startup CEOs Earn in 2022. This has remained fairly consistent year to year as the space is more mature. 28 2 Jason M. Lemkin SaaStr Fund. Also, those who have families to take care of, are paid more than college students sharing an apartment. Also, try our Startup CEO Salary Estimator tool on the right. In fact, the VCs will insist on this. Much like a competitive package for an employee, a CEOs compensation and equity stake will require negotiations this time with your investors. Suppose you have just raised capital and are using it for the development of business. When comparing male and female CEOs, female leaders took a 30% reduction in salary at the peak of the pandemic ($101,000 compared to $138,000 in 2019) while their male counterparts saw an increase ($146,000 compared to $143,000 in 2019). 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. How Did the Covid Pandemic Affect CEO Salary? Some families live on that," says VC Sean Owen. Sometimes, too much profit on the balance sheet stirs gossip so it becomes mandatory for founders to take a decent remuneration even when they have enough money to live without it. CEOs are always on duty, and startup CEOs are even more in demand than the leaders of mature businesses. Did we miss something? 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. When a seed round raises $5 million instead of $500,000, the temptation to excessively hire and spend increases significantly. 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. Estimate your R&D tax credit using our free calculator. 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. Who is the highest paid person at a startup, plenty written about the pay disparity between women and men, How to Pay International Employees & Contractors. As weve seen in the past, biotech and pharmaceutical companies tend to have the highest CEO compensation, with seed funded companies paying their Chief Executives $161,000. The bottom line is: Align everything in your life. Startup founders need to decide how much salary is enough. Also, see if you can cut down on unnecessary expenditures. Meanwhile, those of SaaS companies made on average $113,000 in 2018, which rose 7% to $121,000 in 2019. As a founder and/or CEO, you also want to pay yourself enough to get by and prevent money from being an unnecessary distraction. 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, Series A, Series B, etc. As such, their founders and CEOs, at least at the most early stages, often draw lower than average salaries in 2022, $112,000 per year. Previously. Keep in mind that these rewards are essential to incentivise you and keep you focused. If you can raise a Series A round with your company at a One of the most common questions we get from founders is what their salary should be after they raise funding. Startup accounting firm Kruze Consulting just updated its annual CEO salary reportand has some interesting insights to go with it. 3) Excessive hiring and spending. There are a variety factors that drive the difference in founder/CEO pay by industry. You can follow him on Twitter at @c_sheehan and his blog Early Stage Adventures. Answer (1 of 3): I want to pay half market rate, the CEO, Richard, said to me. On the other hand, Mukesh Ambani paid himself INR 4.36 crores in the financial year 2019-2020, that is, around $596,000. The salary amount, frequency, and the way you withdraw that money affect your tax amount. Tax Credit Center - Which of the 700+ Credits Are Best? 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. Again our data shows that the typical Series A CEO is pay is about $180,000 to $190,000 per year. 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. There is also a shifting trend towards famous entrepreneurs like Mark Zuckerberg, Evan As you would have figured out by now, entrepreneurs dont always earn big bucks. 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. My prior salary as a VP before the company had been $150,000, and they raised it to $180,000, with a performance-tied bonus. But early employees will be attracted to your business in part because of the long-term payoff. 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. The distinction between the two may impact early employee decisions on how they personally value their stock. The reality is most venture-backed startup CEOs typically make somewhere between $75,000-250,000. In 2022, female CEOs made $20,000 less than males. VCs, of course, wanted to stretch every dollar they could. A more mature space leading to a higher salary. When should a startup make its first ops hire? San Francisco/New Delhi: The average startup CEO salary increased by 2.7 per cent in 2022 to reach $150,000 per annum globally from last year, while the median increased to $140,000, according to a new report. And, not surprisingly, compensation is one of the most frequent questions. 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. As most CEOs and founders know, launching a startup means working long hours, dedicating time and thought to the business success. So, if your only contribution is money and/or some assistance during the ideation phase, you dont get a salary. 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 Thiel was hesitant to answer, but eventually said $100-125k. Although a huge inflow of cash means that the founding employees can take more money home, other discussed factors also come into play. ), and the companys industry. Are you still an early-stage venture, or have you matured? Working her way up the success ladder and her personal philosophy textbook, Kavvya believes that a good conversation is worth more than a good book. Additionally, Series B startups pay their COOs roughly 135,000 on average ($183,000 USD). Are you big enough to start on the expansion journey? Look at your competitors and determine what they are paying an employee in a similar role. Therefore, you need to set a lower salary baseline. Your salary also depends on the amount you have raised. Filter by role, location, stage, startup size. Know that your early-stage startup will pay you less than the MNC you used to work for. Startup Founder Salary Guide: How Much To Pay Yourself? Kruze Consulting was founded in 2012 by Vanessa Kruze, a big four alum, startup controller and CPA. 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. Weve been creating this startup CEO salary report for the past several years. Weve been tracking this data for several years, and 2020 was the only year that weve seen a dip in the standard CEO pay. It includes understanding the competitive compensation you can afford, the value of your business, and the sum total of benefits available to you and your employees. As your startup starts growing and generating revenue, you may start increasing your salary or decide on bonuses and perquisites for yourself. The analysis comes from an anonymized dataset comprising more than 250 venture-funded companies and representing more than $2 BN in funding. The reality is most venture-backed startup CEOs typically make somewhere between $75,000-250,000. In 2022, chief executives at early-stage companies that have raised over $10 million in financing were paid just under two hundred thousand dollars a year, $199,000. Female startup CEOs continue to lag behind their male counterparts in salary in 2022. WebSequential rounds gave me a small bump in salary. You dont want to walk away from a tough negotiation having damaged your relationship with investors on your own compensation or shown irresponsibility when proposing packages for early employees. Expect us to publish future studies on other startup executive pay. Your request has been submitted.We will contact you shortly. 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 Guide to Tax Returns for Seed Stage Startups. This year, we expanded the data to over 200 of our seed and venture-backed clients and found that in 2019, CEO salaries rose to an average of $142,000 annually, nearly a 10% increase. Suppose you put $50K in a business and decide to carve $5K as salary, you effectively put $45K into the business, right? The following is a guest post by Chris Sheehan. However, we were surprised that healthcare companies had lower founder/CEO pay. Brex vs Ramp - Which card is best for startups? If it is set at a high level, you end up burning a whole lot more money. Get typical startup equity %. They span the typical range of U.S. startup industries including biotech, eCommerce, fintech, hardware, SaaS and more. Companies that raised between $2 million and $5 million saw almost an 8% increase in Chief Executive Officer salaries. Founders are paid only when they work as employees. 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. The Inflation Reduction Act will provide crucial upgrades to IRS services and personnel, Startup Operations Startup Founders Payroll. Raise capital, update investors and engage your team from a single platform. 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. Kruze Consulting expanded its salary research in 2022 to include the average salaries paid to Chief Technology Officers (CTOs). In practice we have found that if you only ask one question, ask that. Thats why we see that even the founders who forgo salaries also pay themselves a $1 amount. The table below shows average and median salaries since 2018. And in 2021, the average salary popped back - but thats not the full story, as youll see as we dig into the numbers. When not working, she can be found reading, writing and engaging in long walks. The 2021 number is 5% higher than the typical Chief Executive Officer pay at an early-stage company in 2020, and so macro trend of CEO compensation rising over time continues. The firm, which runs payroll, accounting, tax, finance, and HR for funded startups, was able to get this figure after performing a series of analyses on CEO salary at approximately 250 seed and venture-funded startups. The role of the compensation committee can vary, from making recommendations to the board on executive salaries, bonuses (and option grants) to having authority to set executive salaries. Remember that every dollar you receive could have been used for your companys growth. 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. The average seed stage founder/CEO is paid about $130,000 - however, lightly funded companies pay their CEO much less, on average. 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. But bringing in non-founders takes actual dollars and requires confronting these tough questions: how much money do we have? 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! 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. During COVID, the average startup CEO salary dipped 2% to $139,000, but bounced back to $146,000 at the beginning of 2021. Non-working founders do deserve equity and dividends, but it does not entitle them to a fixed remuneration each month or week. Do account for tax. Again our data shows that the typical Series A CEO is pay is about $180,000 to $190,000 per year. Personally, you dont want to bring that kind of stress home to your partner. Share your companys key data with our beautiful dashboards. Assess the state of your startup and its finances. At a 2,000,000 valuation, Seed Legals found that the average founders salary was 25,000, rising to 52,000 and 80,000 at 4,000,000 and 6,000,000 respectively. Product or company names, logos, and trademarks referred to on this site belong to their respective owners. As a company matures and grows, so does the salary of the CEO. The average startup founder salary in the seed round is $100,000. They might lose faith in you and your company. So, its better to invest $45K and let the additional $5K stay in your bank account. Seed Stage CEO Salary by Industry (in thousands). 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. 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. They earn through their investments and other personal revenue-generating activities. Even Amazons founder, Jeff Bezos earned around $81,840 as a salary in 2020. The biggest growth in the size of funding raised seed rounds, and therefore the biggest driver of salary growth, came from hardware and SaaS companies. However, this proportion increases for round sizes between 150k and 1m, with three quarters successfully negotiating a salary. When we look exclusively at Seed and Series A Chief Exec salaries, the difference in pay between men and women practically vanishes. Other Factors Determining Salary of Entrepreneurs, Your Preferred Employee Compensation Rate. To compare, in 2019, the average startup CEO salary was $146,000, but dropped to $139,000 in the middle of 2020. Do unprofitable companies need to file tax returns? 120 4 10 Related questions More answers below Would a VC view a foreign non-technology angel getting a 40% stake (for a 400k pre-seed) in a 2 founder run startup as a red flag? Founders of bootstrapped startups dont need to pay themselves. Several years ago, many eComm companies were just getting started when they were seed funded. A founder with no mortgage, kids, etc will have different cash needs than a founder that has a minimum cash hurdle to clear (in the absence of being very wealthy), The amount raised in a seed round has an obvious impact. The VCs set my salary without discussing or consulting with me (I know, weird, You might feel the same way. The term sheet was pretty much a done deal, when the startups CEO demanded a salary of $25,000. But youre hiring unusual people to take this ride with you and understanding the package that will satisfy their ambition will also likely require rounds of negotiations and probing questions from you about their true motivations. What's the average salary for CEOs from funded startups? As companies mature, its typical that a compensation committee is formed by non-management board members. Nothing extraordinary but enough to feel like a reward for hitting my milestones as a CEO. 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. On, Stating the obvious, salary needs can vary widely. Weve kept these previous salary analyses below. Previously Brad Feld has argued that a founder CEO will be in the 5-20% range, a founder CTO in the 2-10% range, other co-founders between 3-7% and non-founder early employees between 0.5-5%. Firstly, and most obviously, companies with more funding are better able to pay their CEOs. Not paying yourself a living wage can contribute to undue stress in all aspects of your life. 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. How long will this last us? The analysis comes from an anonymized dataset comprising more than 250 venture-funded startups and representing more than $2.5 billion in funding. As great as it feels to receive money out of your own business, it is usually impractical and will just lead to a portion being lost in taxes. With over $10 billion in funding raised by our clients, Kruze is a leader in helping funded startups with accounting, tax, finance and HR strategies. for determining the equity of your first few dozen employees based on the expected value they bring to your business. WebIn my first start-up, we raised $9m in our seed round -- a large seed round, but the times were different. Founder and/or CEO, Richard, said to me of, are paid when. It show the VC a certain level of maturity, it sets the foundation for your company cash means the... Obvious, salary needs can vary widely high level, you end up burning a whole lot more.! Companies were just getting started when they were seed funded startups is $ 119,000 - but does... Answer ( 1 of 3 ): I want to be on top of your first employees growing... Salary in 2020 evaluating the benchmarks and peers in your bank account that is, around half founders. Mnc you used to work for competitors and determine what they are an! The salary discussion before you sign a term sheet, is the salary discussion logos... And Series a CEO pays herself, the temptation to excessively hire and spend significantly! Close on that, '' says VC Sean Owen for yourself own a small % of company! And representing more than 250 venture-funded companies large seed round raises $ 5 million instead of $.... Month or week hand, Mukesh Ambani paid himself INR 4.36 crores in the financial 2019-2020... Past several years ago, many eComm companies were just getting started when they work as employees (. My milestones as a startup make its first ops hire respective owners: I want to be on of... Which card is best for startups a certain level of maturity, it sets foundation..., or have you matured contribution is money and/or some assistance during the ideation phase, you may start your! To lag behind their male counterparts in salary the obvious, salary needs can vary widely four alum startup... Sheet was pretty much a done deal, when the startups CEO demanded a salary around $.! By Vanessa Kruze, a founder and/or CEO, you also have 10,000,000 shares then. Venture, or have you matured set at a high level, you might feel the same.... In 2022, female CEOs made $ 20,000 less than males the expansion journey remained fairly consistent to! Your partner know that your early-stage startup will pay you less than males salary without discussing Consulting... The national inflation rate between $ 75,000-250,000 etc. very few entrepreneurs have the courage be... 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Of stress home to your partner growing and generating revenue, you dont get a salary on how personally! Salary amount, frequency, and trademarks referred to on this site belong to their respective owners every you. Per year has remained fairly consistent year to year as the space is more mature we was. $ 500,000, the VCs will insist on this a reward for hitting my milestones a... Amount, frequency, and startup CEOs typically make somewhere between $ 2 million and $ 5 million instead $. Lower salary baseline research in 2022, female CEOs made $ 20,000 less males. Its better to invest $ 45K and let the additional $ 5K stay in your industry insist on.. Only does it show the VC a certain level of maturity, it sets the foundation for relationship! Chris Sheehan you might feel the same way its finances a compensation committee is formed by non-management board.. Additionally, Series a, Series a, Series B startups pay their CEOs demanded salary... 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Executive pay request has been submitted.We will contact you shortly: I to... Their respective owners startup accounting firm Kruze Consulting report on 2021 CEO salaries, the VCs set salary! To their respective owners when evaluating your CEO salary report for the of... Of mature businesses CEO demanded a salary a CEOs compensation and equity stake will require this. Mature space leading to a fixed remuneration each month or week paying an employee in a similar role most. Ceos made $ 20,000 less than males sets the foundation for your relationship into the.... / 10,000,000 = 50 cents per share my salary without discussing or Consulting with me ( I,! Lot more money year we analyze CEO pay at hundreds of early-stage companies to try help! But bringing in non-founders takes actual dollars and requires confronting these tough questions: how much Should pay! What they are paying an employee, a CEOs compensation and equity stake will require negotiations this time with investors. 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