We recently got told by our accounting/legal people that founder salaries had to be at least 35k/yr once they started (which we did so we could get payroll/benefits in place for new hires; has to run for 6-8 weeks first, unless you go though a PEO like TriNet, which we didn't want to do) -- otherwise we were going for $2k/mo.
So now I make $3k/mo. It's interesting trying to live within that amount (I have savings, but consciously would like to not dip into them more than I have to) in the Bay Area.
It is a great opportunity to do IRA to Roth conversions and such this year. The crazy thing is I would technically qualify for rent controlled apartments in SF, although my income might be too low to rent them.
I think $50-60k is a much more reasonable founder salary, once we finish Series A. I suspect most Bay Area startups get to that point, or even up to $70-100k, for founders, once they raise >$3mm or so.
So now I make $3k/mo. It's interesting trying to live within that amount (I have savings, but consciously would like to not dip into them more than I have to) in the Bay Area.
It is a great opportunity to do IRA to Roth conversions and such this year. The crazy thing is I would technically qualify for rent controlled apartments in SF, although my income might be too low to rent them.
I think $50-60k is a much more reasonable founder salary, once we finish Series A. I suspect most Bay Area startups get to that point, or even up to $70-100k, for founders, once they raise >$3mm or so.