Startup Compensation Data Sources
Negotiating startup salary and stock options or RSUs? These are links to market data that readers have found helpful. Photo by ThisIsEngineering.
Attorney Mary Russell counsels individuals on startup equity, including:
You are welcome to contact her at (650) 326-3412 or at info@stockoptioncounsel.com.
Published February 2023. Updated regularly.
Market Data Sources
Individuals often struggle to find good resources for startup compensation data since subscriptions to the primary startup compensation data sources are only available on the company side. Companies are using Radford, Mercer, Carta (but see below re Friends of Carta!) and Pave (including the classic Advanced-HR Venture Capital Executive Compensation Survey, now owned by Pave). The imbalance is challenging to say the least.
Here’s some links that readers have found helpful:
April 2024, Carta’s post on equity refreshes at startups. Still, in my experience the lion’s share (I’d say 90%) of equity at startups is in the initial grant, so that’s where the action is on negotiating equity at startups.
April 2024, Betts Recruiting published their 2024 Executive Comp Guide for salaries for exec roles (including fractional) from Seed through Series D.
April 2024, Levels.fyi’s co-founder published some commentary and data links on compensation for AI talent on LinkedIn.
April 2024, Pave CEO published data on founding and non-founding startup CEO compensation on LinkedIn.
March 2024, Carta published their State of Startup Compensation for H2 2023.
March 2024, Carta published an addendum to the above with data for early stage companies including: median advisor equity for pre-seed, seed, and Series A companies, median equity grants for a startup’s first 10 employees and median equity grants for startup board members at the early stages.
March 2024, Betts Recruiting published compensation discussion on Enterprise Account Executive role and comp.
February 2024, Betts Recruiting published their 2024 Compensation Guide. Includes great insights about variations in today’s market for Sales, Customer Success and Marketing roles.
February 2024, Betts recruiting published their How Much Money Can You Make in Tech Sales for 2024.
January 2024, Carta’s posting on startup advisor compensation on LinkedIn. Careful these numbers seem low for a lot of people called “advisors” who Carta categorizes as something else.
January 2024, Betts Recruiting published their Top Account Executive Compensation Trends in Tech for 2024.
January 2024, Betts Recruiting published their Top Sales Development Representative Compensation Trends in Tech for 2024.
January 2024, FairOffer.ai launched an innovative data-science based comp tool with searches available to individuals. I’m still testing to see if it’s in line with other more established services, but seems like an exciting offering.
EOY 2023, Levels published its 2023 Pay Report showing median total yearly compensation for various job families and levels: “While new graduate and entry level roles have been significantly affected this year, the most competitive opportunities still continue to compensate significantly for top talent.”
On November 14, 2023, Compa published a data-centered analysis on the difference in compensation between SWE and AI Eng: AI Eng pays 2x higher than SWE- Salaries have ~10-15% premium, but new hire grants have ~100%+ premium.
As of October 20, 2023, Carta has offered a “Friends of Carta” program where they have offered to provide their compensation data to individuals on a one-off basis. More here.
On October 10, 2023, Betts Recruiting published its Top Director Compensation Trends, highlighting various salary and benefit trends for the top Director and department Head titles at startups.
Carta’s Startup Comp Report H1 2023 offered trends in salaries and equity grants in this unique time in the market.
Wellfound (previously Angel List Talent) on salary and equity benchmarks for early stage startups.
Q4 2023 update on VP level salary ranges from Betts Recruiting’s blog.
September 2023, General Catalyst’s survey on startup advisor compensation.
July 2023, Carta’s Data Minute published median founder equity splits data in their newsletter.
One founder: 100%
Two founders: 55%/45%
Three founders: 47%/33%/17%
Four founders: 40%/27%/18%/10%
Five founders: 35%/22%/17%/12%/9%
Salaries, OTE, etc. for sales roles from RepVue.
Roger Lee of Layoffs.io fame launched Comprehensive.IO to track salary range listings.
Bett's Recruiting’s 2023 2H Compensation Guide with market data for cash compensation at all levels within Sales, Customer Success and Marketing by geographic location.
Betts Recruiting’s 2023 Executive Compensation Guide with market data for cash compensation for many C-suite and VP roles at startups by company stage including C-level, VPs, directors, fractional and advisors!
Carta’s State of Startup Compensation report Q1 2023 including median equity grants for a startup’s first 10 hires. These numbers seemed really low to me, and I asked some questions of the writer to figure out why. These numbers exclude any grant over 5%, so it skews low. They’ve classified any grant over 5% as a founder not an employee. So if these seem low to you, that’s why!
Carta’s State of Startup Compensation report Q1 2023 including median advisor grants by company stage pre-seed, seed and Series A, geographic adjustments, and median salaries for 9 functions (engineering, data, product, legal, research, design, strategy, sales, finance, HR/recruiting, marketing, project management, customer success, operations, accounting, support and administrative). One quick-take: "10% of pre-seed advisors receive 1% or more equity.”
Carta’s September 2022 shockingly comprehensive Salary & Equity Data for New York City for all levels within engineering, product and customer success. Thank you, Peter Walker @ Carta.
Betts Recruiting’s 2022 Equity Guide with market data for equity and cash offers for all levels on the sales team, directors and advisors at seed (by %), Series A (by %), Series B (by %), and Series C through IPO (by dollar value)
Matt Schulman of Pave (a company-side startup compensation data service) 2023 Medium post titled How much comp should the first engineer at a venture backed startup get — cash, equity, and title? Pave also publishes an Equity Guide, designed to help companies approach equity data including the difference between new hire benchmarks and total equity benchmarks. Linking here in case individuals might find it helpful.
Startup Legal Stuff’s guide for employers with recommended equity percentages for equity grants following a Series A for C-suite, board members, lead engineer, senior engineer, and junior engineer.
Carta’s Average salary ranges in NYC: Engineering, product, customer success including specific salary data for companies with $100-250M post-money valuation for engineer senior manager, engineering director, product senior manager, product director, customer success senior manager and customer success director.
In 2018, Business Insider published a database of startup executive compensation data leaked from Andreessen Horowitz. The cash numbers are likely outdated, but the equity numbers are likely still “in the range.”
Good luck! Please send along anything you’d like me to include on this list.
How to Use Market Data
And here’s some good links on how to use market data. They are written for companies, but helpful to any individual’s thoughtful approach to this topic.
April 2024, Charlie Franklin of Compa’s discussion of leveling as “at least twice as important as market percentile.” I wholeheartedly agree.
February 2024, Heidi Roizen’s podcast commentary on startup advisors.
Carta’s State of Startup Compensation H1 2023 re market trends on salary and equity benchmarks.
Leveling Guide from Carta.
Why peer group selection is as important as market percentile from Charlie Franklin.
Why not to use pay range disclosures as a guide to market comp from Charlie Franklin: “[U]sing pay range disclosures to price jobs is problematic. The jobs aren’t leveled and matched, the ranges are broad (and it’s hard to know where companies actually pay in the range, or if they’re disclosing the real range), and of course you can only see base salary, a small part of the story.”
Attorney Mary Russell counsels individuals on startup equity, including:
You are welcome to contact her at (650) 326-3412 or at info@stockoptioncounsel.com.
