Big News: FounderDating is joining OneVest to build the largest community for entrepreneurs. Details here
Latest Notifications
You have no recent recommendations.
Name
Title
 
MiniBio
FOLLOW
Title
 Followers
FOLLOW TOPIC

Question goes here

1,300 Followers

  • Name
    Entrepreneur
  • Name
    Entrepreneur
  • Name
    Entrepreneur
  • Name
    Entrepreneur
  • Name
    Entrepreneur
  • Name
    Entrepreneur
  • Name
    Entrepreneur
  • Name
    Entrepreneur

Why pick my own salary?

Just got a job at a startup and they asked what my idea salary would be. I've only worked one other place and made what I thought was considered market rate. I would be happy to make market rate at this job as well, but am wondering if my answer would actually have any bearing on their response? Is this a test?

7 Replies

David Greenwald
0
0
David Greenwald Advisor
i2i Placement - A Human Capital Company; david@i2iplacement.com
Happy to help. What's the role?
David W. Schropfer
0
0
CEO at AnchorID, Inc.
Personally, I never answer that question. I just say that I am 'willing to consider the entire package,' which will likely include salary plus equity/options. -David W. Schropfer AnchorID, Inc. www.AnchorID.com This message may be private, privileged, or confidential. If you receive this message in errror, please notify us immediately via reply e-mail.
Taj Sateesh
0
0
Taj Sateesh Entrepreneur
CEO at Sphinx Resources--The Preferred Recruitment Partners in Hi-Technology R&D & Manufacturing
Hello David,
To answer your query 'Is this a test?', it could well be.
But it also depends at what level you are being considered for.......IF it's for a senior level position, it's MOST likely a test.
The idea COULD be to test your accuracy in judging the net worth of individuals.....starting with yourself.

IF the position is @ a junior/mid-management level, then the most likely reason COULD be to build-up a base for negotiation. What best than to ask YOU to open your cards before the Company does?

All the Best....for whichever scenario emerges.
Rgds,
TS
Michael Barnathan
0
0
Michael Barnathan Entrepreneur • Advisor
Co-Founder of The Mountaintop Program, Google Alum
They probably have no clue what market rate is and are trying to offload the research. If it's a test, it's a bad one for them - they'll lose candidates, turn people off, or end up overpaying for talent for not doing their homework.
Nima Aghaeepour
0
0
Nima Aghaeepour Entrepreneur
Postdoctoral Fellow at Stanford University
In addition to what others have mentioned (testing, negotiation, etc), if they haven't raised significant funding yet, they might want to learn if they can afford you given your particular financial situation. Some people need higher salaries and cannot take equity.
Rafael González Alén
0
0
Rafael González Alén Entrepreneur
Commercial Manager en EROTIC MUSEUM
Hi David,
I'm exactly in the same position. In a startup situation, you should take the job if you think they company can grow and be profitable. But because you are helping to start the company and lead it to success, it is common to ask for a shares or equity, so if the company grows, you grow with it. That will mean you can potentially earn MUCH more than just having a salary.
So you should decide based on:
Do you like the startup and their project?
Do they have the potential of succeeding and creating a profitable business?
If so, take the job. You canaskfor a little less of market salary in exchange of shares.
Larry Patrick Zolob
0
0
Larry Patrick Zolob Entrepreneur
Marketing & Consulting, business development, careers blogger, entrepreneur, advisor, org hacker
I would make these points:
*I don't think of salary in a vacuum; my interest and happiness working there is a function of not only comp and benefits but also culture, job description, development, growth opportunities, etc etc. It all has to work together and be a strong package. Salary alone won't get me to come or keep me there.
*I want to work for a company that knows and pays market rates or slightly higher, assuming all other factors are comparable. That way we will have a stable company and motivated star performers who won't constantly turn over. So, I'm not worried about my specific salary but more interested in your smart strategic approach to HR to build a motivated and long lasting team. If you do that, we'll be fine, whatever the number.
Join FounderDating to participate in the discussion
Nothing gets posted to LinkedIn and your information will not be shared.

Just a few more details please.

DO: Start a discussion, share a resource, or ask a question related to entrepreneurship.
DON'T: Post about prohibited topics such as recruiting, cofounder wanted, check out my product
or feedback on the FD site (you can send this to us directly info@founderdating.com).
See the Community Code of Conduct for more details.

Title

Give your question or discussion topic a great title, make it catchy and succinct.

Details

Make sure what you're about to say is specific and relevant - you'll get better responses.

Topics

Tag your discussion so you get more relevant responses.

Question goes here

1,300 Followers

  • Name
    Details
  • Name
    Details
  • Name
    Details
  • Name
    Details
  • Name
    Details
  • Name
    Details
  • Name
    Details
  • Name
    Details
Know someone who should answer this question? Enter their email below
Stay current and follow these discussion topics?