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Thinking about joining a startup? How do you know how much money and equity to ask for?
Erica Amatori has worked for multiple startups (and one traditional Fortune 100 company) and shares all the details on compensation, salary negotiation, and equity.
We also chat about…
- Cryptocurrency and Erica’s new startup!
- Benefits (healthcare & retirement)
- Tech accelerators
- Getting involved in the startup community
- & more!
Erica was an absolute delight to speak with! Enjoy this chat with Erica Amatori, and please subscribe to us in iTunes if you enjoyed it!
Show notes and links from today’s episode
- Erica on Twitter, Linkedin, Instagram
- Email her erica@thebitdaily.com
- The Bit Daily (Erica’s crypto startup)
- Rize
- Burrow (startup where she works now and loves)
- AngelList
- Lean Startup
- Coinbase
- The Skimm
- Kristie Wolfe episode
- Bad Crypto podcast, Blockchannel, Unchained, Epicenter
- Blockfolio
Key takeaways from our chat with Erica Amatori
1 – Everything is a negotiation with a startup
Erica advised that everything is on the table when negotiating for a startup job. This can mean you can ask for more salary, equity, shorter vesting schedule, etc.
Depending on the stage of the startup (seed, etc) you may have more or less wiggle room with your salary. The earlier the startup is in the process the lower your salary and the more equity you may take.
Don’t be afraid to ask for $40,000 more than you think you would get. You never know. They might meet you in the middle!
Also keep in mind: You may or may not get health care and retirement benefits depending on the startup. That can be wiggle room in the negotiation since you are taken on added personal cost and risk.
2 – Seek help with the negotiation from experienced startup employees
If you attend startup events, you will make friends that can help you in the negotiation process. You will know a better sense of what to ask for in terms of equity, vesting schedule, etc.
Try to reach out and meet some people in the startup space that can help you evaluate your office and come up with a game plan.
When you do sign an equity agreement, make sure it’s in writing and legit with a government contract (depending on the amount granted).
3 – Consider attending a tech accelerator to get your idea off the ground
Accelerators offer accounting and legal services, introduction to investors, support and mentorship in exchange for a small amount of equity (although some don’t take any equity!)
Here is a list of startup accelerators.
4 – Diversity is super important in crypto!
J, Erica, and Gwen chat about how it seems that more male engineers are opting into crypto than any other group and it’s critical for everyone to learn more about it, even if they don’t plan to invest in it.
Blockchain and crypto are the future and right now, the future is in the hands of very non-diverse group. Probably a bad idea?
If you are part of the crypto majority, invite a diverse friend into the space – whether that’s attending an event or sharing a podcast you like.
Questions? Like or dislike? Leave us a comment!
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