startup-costs, funding, salaryCurrently, I am working on a VR game without paying in a company. This company has 1 million valuation with 3 previous products. But these products have little influence and little cash flow. It only has former part-time employer. Right now, the CEO, the owner of the company wants to transit it to a VR game company. And we are developing the VR game for more funding in the future.
Right now, the CEO is working on the art and some other part-time programmers are working on the game programs. 3/4 of the programming work is done by me. How much should I ask for the future? The CEO is offering 85k + options after securing funding. Should I declare ownership, the equity of the company?
First of all, you should be paid. Working for free is not a good practice especially in long term.
Secondly, if you aim to stay longer at least for a 3 year from the day u start getting equity, then probably it will be good to have equity. Before or after funding doesn’t really matter.
Remember this:
Equity means u are a shareholder which means they probably stay with the company for the lifetime(of the company)
Salary only: means adhoc, probably entered to gain some knowledge and experience and then leave!
You should be very clear on where you want to be in the company. If you think and work like a developer and do not take initiative in decision making of the company then you are an employee. You can ask for more pay but that depends how much is the company depended on you or to put in simple terms are you replaceable? If your answer is yes then you are in a bad position.
Honestly, I think you are doing a great job. Try to take responsibility in the company. Push your boundaries and get out of the comfort zone of sitting in front of a computer. Take it as a learning curve.
You have nothing to lose as CEO’s always want CTOs. So if you are dissatisfied search in different meet up groups.
Bottom line is that if you are developer and a good one then start or build a innovative product, be a part of something greater
Your should be paid $60k-$80k and you should have an equity of 7% - 21%. (Only if you worked more than 16 months in the position of CEO at same Startup).
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