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I am asked all the time about compensation. How much
should I pay my CFO? My CEO? My... you fill in
the blank.
The problem is that we are all prisoners of our own
experience. I have represented a lot of technology startups
over the years, but it is still not a representative sample.
Time is also a factor the "going rate" (if there can be
said to be such a thing) was different ten years ago that it is
today.
Perhaps some of the larger more active VC funds can get a
representative current sample by looking at their existing
portfolio companies. But, most people really need industry
data.
So, here is a web site
CompStudy that looks like it may fill the data gap, and you can
get their data. Below are two paragraphs taken from the
CompStudy site.
The CompStudy surveys focus on
private companies in the Technology and Life Sciences industries.
We have conducted these surveys annually since 2000. (I collaborate
on the surveys with Ernst & Young, law firm WilmerHale, and
executive-search firm Park Square.) Last year, more than 800
private startups participated, giving us an extremely detailed
dataset to help you understand the market for executive talent. The
first decade of CompStudy surveys – which included almost
10,000 founders from 3,600 startups – served as the data
backbone of my book, The Founder's Dilemmas: Anticipating and
Avoiding the Pitfalls That Can Sink a Startup.
As in past years, survey participants
will receive free access to our sophisticated reporting/analysis
website, including salaries, bonuses, and equity holdings for
C-level and VP-level executives. To qualify for the free access,
please complete the questionnaire by June 30th, 2012
If this survey lives up to its promise, it will be very
useful.
I can't help but note that a similar phenomena sort of
exists (that is lack of actual data) with respect to other aspects
of startups: for example, terms and valuation.
Now, for some of this data you can go to our publication
Perspectives (that covers New England, and shortly New York as
well) or a similar publication from
Fenwick & West (that covers the valley). But although
we (and I believe Fenwick) track every VC financing in our region,
we don't publish everything we know (I don't believe
Fenwick does either – although I have never discussed
this with any of their attorneys).
So, when you hear someone say market is ..... You are
probably hearing their subjective impression and, human nature
being what it is, an impression designed to support the
speaker's agenda – good, bad or indifferent.
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