Re:Ask HN: Should I take a salary for my pre-revenue startup?
by nivertech on Tuesday June 08, 2021 @09:36AM
(#27434976)
* In some countries there is a minimal wage salary mandated by law.
* If you'll pay yourself a large salary - the large chunk of it will go to the payroll taxes and social benefits.
* Sometimes you need a steady salary hitting your bank account to have a credit line / credit cards / good credit score / etc.
* For angle/VC-funded startups it's usually OK to pay a salary for founders with families/kids, but even then you need to take at least 25% cut from your previous job's salary. I know where founders went from high-end consulting to being a salaried employee in a startup, and they had to take huge cuts comparing to their previous jobs.
* If you'll pay yourself a large salary - the large chunk of it will go to the payroll taxes and social benefits.
* Sometimes you need a steady salary hitting your bank account to have a credit line / credit cards / good credit score / etc.
* For angle/VC-funded startups it's usually OK to pay a salary for founders with families/kids, but even then you need to take at least 25% cut from your previous job's salary. I know where founders went from high-end consulting to being a salaried employee in a startup, and they had to take huge cuts comparing to their previous jobs.