Heh, interesting read. Maybe I should adjust. I meant to imply that our equity is sizable (because we're still early-stage) while our salary is still competitive with later-stage startups (our founder is self-funding off his last $545M exit).

If you add the last part about $545M, things would sure look different. :)

Is that because you're reading "competitive" as competitive with other companies that haven't taken outside funding?

Because i'm reading competitive as standard market rates.

And standard market rates aren't good?

No, I think "standard market rates" are what employers are paying their engineer who has been there for a few years (and whom they are currently paying below what he/she could get if they left for another job) or possibly what someone would pay for a "standard software engineer" who really needed a job.

If you want to attract exceptional engineers then by gosh, you might just have to pay exceptional salaries.

At the end of the day, it's a business relationship and an intelligent engineer is quite justified in capturing some of the value that he or she generates.