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Negotiating Product Salaries with Startups
What should a product manager consider when negotiating salary with a startup?
Deciding whether to ask for a higher salary or accept equity as a product manager negotiating with a startup can be difficult. Here are some factors to consider when making this decision:
Stage of the company: If it is still in the early stages of development, it may need more financial resources to offer a high salary. In this case, accepting equity in the company may be a more attractive option.
Growth potential: Consider the possibility for the company to grow and become successful. If the company has a robust business model and a good chance of success, accepting equity is a good choice as it could lead to a larger payout.
Personal financial situation: Consider your financial situation when deciding between a higher salary or equity. A higher salary may be more critical in the short term if you have a family to support or other financial obligations.
Risk tolerance: Think about your risk tolerance and how comfortable you are with taking on the risk associated with accepting equity. Equity may be a good option if you are willing to take on more risk.
Ultimately, deciding between a higher salary or equity will depend on your circumstances and priorities. It's essential to carefully weigh each option's pros and cons before deciding.