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Tom Matta is the VP of sales at eShares, a software platform that allows investors and companies to manage cap tables and grant stock certificates digitally. We and third parties such as our customers, partners, and service providers use cookies and similar technologies ("cookies") to provide and secure our Services, to understand and improve their performance, and to serve relevant ads (including job ads) on and off LinkedIn. For more information, see our Cookie Policy. One of the most difficult decisions you will have to make as a founder is how to distribute equity among your co-founder(s) and earliest employees. … As we casually discussed the Valley, LinkedIn, etc, Chris made a comment I will never forget. Adapt. Adobe can pay that. I definitely did not have percentage points in the company. What kind of team are you inheriting? Most people don’t have to think about this stuff until it’s really important. Just to want a budget and a top-line number to meet. Startup equity incentive plans typically allow for grants of both flavors, with the specific situation determining which one is used. Venture Deals is a great perspective on start-up funding models. Explore by role, location, skill, or market. Smarten  up. Because it's your ass.". Because it is your ass. Is this about right? 1) Equity. The bottom line is simply to treat equity for what it is: a lottery ticket in a constantly changing business environment, littered with the corpses of glittering startup opportunities. Equity: Stock and Vesting Schedules. But if you’re starting to freak out about who gets what slice of your startup pie, take a deep breath, calm down, and get ready for Startup Equity 101. It isn’t going to work in a startup. But costs are critical when you’re adding sales reps and then a VP Sales ahead of profitability. Knowing the amount of investors, the number of rounds, and the growth potential can help you determine if your equity offer is fair, as equity can become diluted as more investments are made and more employees join. I will say 1% minimum for a member of your executive team. Filter by location to see Equity Sales Vice President salaries in your area. Most startups have a 4 year vesting period with a one year cliff for the equity they offer you. Salespeople are stereotypically competitive, hungry and cash-oriented, but like any employee at a startup, equity can play a … And get moving. But sales is sales. Oh I had so much to learn. But it depends on what you’re paying this person. Equity refers to ownership of the company, and this can be extremely valuable if the company ever sells or goes public (learn more about startup fundraising here and in our eBook, How to Get a Job at a Startup). 4) Generally, is the Founder/CEO Strong Enough to Make Decisions That Aren't Driven by Outside Pressures (Board, Stock Market, Other Startup Valuations, Whichever Book they Read Last Night, etc). A four year vesting schedule is typical. Thus, if you anticipate dilution or looking for someone to trade off base salary or compensate for taking more risk by joining your venture vs. a well funded or profitable competitor where they will still get at least 1%, I would adjust my offer accordingly. If you come from a large software company, don’t implement their methodology. Also, the employee will be taking significant dilution upon funding, so you want their equity to be enough to motivate them both pre and post funding. Working with our sales team and CIO, you'll be the go-to for all deal-to-deal negotiations. "I've seen a new VP of marketing, a first-time CMO, get 1.5 points and total compensation of $270,000 to $300,000," Santinelli says. Almost 10 years ago I was at a wedding for my good friend Jamie Tilotta (now Jamie Tilotta Green, one of the best executive search folks in the Valley) in Puerto Vallarta. Please see this FAQ about her services or contact her at (650) 326-3412 or at info@stockoptioncounsel.com.. In my opinion at … 3% on the high end. As VP of Sales, you'll be on the front lines negotiating deals with major law firms across the country. But if you are going to live, breathe, and own the next 4 years of this company's revenue life...you have to be all in. Founders Space is a startup accelerator incubator with advisors, investors, venture capital, funding, angels & VCs in San Francisco and Silicon Valley ... How much equity should I give a VP? We mentioned that you should consider startup offers holistically, including both equity and salary. A startup sales job sounds exciting, but the VP of Sales in a startup is a world away from a VP of sales at an enterprise company. Most VP of Sales are looking for ballpark $250-$350K OTE in NYC with 0.5-3.0% equity. At all. 2) Compensation. Literally 100% failure rate. Listen. Because the company needs to be able to sell the appropriate shares to the employee once the options are exercised, those shares (1) need to exist, but (2) be reserved so that they are not sold to anyone else. Seed-funded startups would offer higher equity—sometimes much higher if there is little funding, but base salaries will be lower. Equity will always be a crap shoot when it comes to market rates. As VP of Sales, you'll be on the front lines negotiating deals with major law firms across the country. Sorry, your blog cannot share posts by email. Originally published February 12, 2014. That's some serious scratch, even if the startup tanks and the equity turns out to be worthless. You can change your cookie choices and withdraw your consent in your settings at any time. We’re looking at bringing on a VP of sales, and I was thinking about providing a 0.75 – 1% equity stake with a 3 year vesting period. Equity Compensation Rules of thumb, guidelines, conventional wisdom & other considerations Frank Demmler. And if your startup gets … Believe it or not, LinkedIn was not viewed by many to be a sure thing at this point. Based on what I’ve seen in the past, 0.5% to 3% is typical for an experienced VP post Series A funding. But when you make unforced errors the odds really stack against you. You will get another one. 3) Double Trigger. For founders and CEOs who've never hired a VP of Sales, maybe this helps a bit too. Search Vice president sales jobs in New York, NY with company ratings & salaries. They don't know better than the founder the vast majority of the time. Other senior roles may warrant a half a percent. Equity negotiations can be a cause of disagreements and … What are the dealbreakers? 1,381 open jobs for Vice president sales in New York. Salesforce can pay that. Gut reaction: Anywhere from 0.5% to 1.5% of fully diluted equity depending on how core the VP position is to the company's success. Startup salary and equity data for thousands of sales startup jobs. And it was my ass? Equity. I was not even a VP yet. Attorney Mary Russell counsels individuals on startup equity, including founders on their personal interests and executives and key contributors on offer negotiation, compensation design and acquisition terms. As a rule of thumb, a VP of engineering or head of sales who joins at the earliest stages might get between 1 percent and 2 percent. “I’ve seen a new VP of marketing, a first-time CMO, get 1.5 points and total compensation of $270,000 to $300,000,” Santinelli says. Even if you really, really want your first VP of Sales job, if the product is completely uninteresting to you...just don't do it. In my opinion at least. You can't fake this. Practical example of what not to do: You come in to a startup without a double trigger, crush it for 10 months, which prompts some bigger company to acquire you at 11 months, then they decide they don't want you on day 360. Great advice! It’s natural for a VP Sales not to care about costs. I’m in a similar situation. Startup equity is one of those things that it’s fair to say every startup founder without an MBA struggles with. ... Startup equity dilution by the numbers. Another important factor to consider is the type of team you … Which REALLY means that if your startup gets bought, outside of you committing fraud or worse, you will see every last cent of your stock/vest. QUESTION: We’re looking at bringing on a VP of sales, and I was thinking about providing a 0.75 – 1% equity stake with a 3 year vesting period. Salary estimates are based on 11 salaries submitted anonymously to Glassdoor by Equity Sales Vice President employees. Yeah. 100%. ... VP Sales -Founder 175k-200k 175k 0-60k 1.2-5% 3.5% VP Business Dev -Founder 150k-180k 170k 0-35k 1.5-5% 3.0% VP Marketing -Founder 140k-180k 160k 0-30k 1.3-7% 3.0% VP level hire at a venture-backed, high-growth startup is typically in the 0.5% - 2.0%, with the understanding that you are there to own your vertical and build an organization that scales from product-market fit … As a retained executive recruitment consultant with near two decades of experience recruiting for both start ups and Fortune 50 I agree with most of the previous post. Founders’Pie Getting started correctly is critical! A startup company might be valued at $2 million when an early employee joins the firm, but attain a value of $20 or even $200 million just a year or two later. Knowing that there are 20 million shares outstanding makes it possible for a prospective manufacturing engineer to gauge whether a hiring grant of 7,500 options is fair. General range on equity: 1% on the low end. "Primarily because there is no "sales floor" - but also because of the different skill set it requires," he said. 0.1% of your company is probably not equal to 0.1% of another company, so you need to help every candidate understand the potential value of the equity you’re offering them without making promises. Prior to joining CAPTEK, Kevin spent the last 17 years at leading companies including Pharmavite, Nice-Pak, and Nature’s Bounty. Post was not sent - check your email addresses! Because, lets be honest, if you are truly successful, your CEO, investors, etc, are going to to be VERY happy about it and they will reap some serious reward. Let go of what you know. The older I get the more important this is. But in a startup, that's just too much. Select Accept cookies to consent to this use or Manage preferences to make your cookie choices. I'm a vp of sales for a startup 4 employee company. Learn. 10 Rules to Being a VP of Sales in a Startup. If the person is experienced and can bring a lot to the table, the pre-funding stock options should be significantly higher. Just sayin'. Even if you are a first time VP of Sales you can't do it for less than 1%. Don't be that guy (or girl). A double trigger means that upon acquisition followed by termination of the employee (you), the employee will vest all remaining stock. This website uses cookies to improve service and provide tailored ads. 5) Are You Fired Up to Sell this Product? And if your startup gets … He said: "Well I hope you got percentage points in the company. Some companies that are desperate will pay 500K but I think that's too much to pay a VP of Sales in a startup. Equity is often the most confusing and intriguing part of a compensation package at a startup. Click to share on Facebook (Opens in new window), Click to share on Twitter (Opens in new window), Click to share on LinkedIn (Opens in new window), Click to share on Reddit (Opens in new window), Click to share on Tumblr (Opens in new window), Click to share on Pocket (Opens in new window), Click to share on Pinterest (Opens in new window), Click to share on Skype (Opens in new window), Click to share on Telegram (Opens in new window), Click to share on WhatsApp (Opens in new window), Click to email this to a friend (Opens in new window). Which means: If you get acquired and the acquiring company cans you, you immediately accelerate vesting on any unvested stock you have left. But your founder just made $100 million. Kevin Tully joined CAPTEK as Senior Vice President of Sales and Marketing after nearly 25 years of experience in global sales and marketing, building market share for branded and private label manufacturing businesses. Are there any benchmarks on what percent equity of the company I should receive. For a head of engineering, top of that range; for corporate functions like HR or finance, near the bottom. However, for start-up software or software as a service companies (SaaS), pay incentives often come in the form of stock/equity for player/coach roles. As a jumping-off point, you can ask for the upper bound of both equity … Prior to joining Thermata, Mr. Musselman founded Mobius Energy LLC, a renewable energy consultancy that developed manufacturing equipment for … And so on. If you’re giving a full salary, then less equity is fine. But first time founders will be much more susceptible to it. See our, Just Because Your Scale VP Didn't Kill You…. RSS 2.0 feed. In a start-up, the VP Sales has to also be aligned to costs, not just revenue. Don’t let your startup negotiation partner monetize it - ask for your full market value in cash unless you’re the type who likes to … Michael Pici wrote for HubSpot that a typical salesperson wouldn't survive on the startup sales floor. Both were VCs. VP Sales & Marketing Joined Thermata in Feb. 2011 with responsibility for market strategy and customer and strategic partner relationships. Starting base salaries for a VP of Sales at these companies begins in the $160K-$175K range plus equity. Some companies will offer a choice of compensation packages, ranging from high equity and low salary to low equity and high salary. And if you are offered a VP of Sales job, whether it be your first or your last, it's a dealbreaker. With that in mind, you need to know what to ask for, what not to. Even if you are a first time VP of Sales you can't do it for less than 1%. Working with our sales team and CIO, you'll be the go-to for all deal-to-deal negotiations. But if a head of sales or VP of marketing joins once a startup has a product to sell and promote, they may get between 1% and 2%, depending on experience. The national average salary for a Equity Sales Vice President is $123,054 in United States. If you get 5% there might be something wrong with the company. 3. I'd say the low end is 300K in OTE and the high end is 400K  in OTE. In a billion dollar exit, you make $10 million. You get nothing. This is a real thing. It's hard enough to win just based on external forces. But again, it’s on a case-by-case basis. So if you want to go hang out in places like that, then knock yourself out. Both 50/50 base to variable. The journey to founding and running a startup from an idea is indeed very exciting for entrepreneurs even though the process carries its own share of risks and tough decisions to make. How much equity should I ask for as a startup’s VP of Sales? Again, tough to diagnose this early. A great startup VP of Sales is someone who’s willing to hustle, work long hours and handle responsibilities they’re not particularly excited about. This can represent a significant piece of the round you just raised and comes with high expectations for internal hires that have worked tirelessly at much lower compensation levels. How to Screen: This is a very hard quality to screen for – you should try to get a sense of their mission and goals in an informal interview. Pre-funding it’s usually much higher. Team Building & HR                      Some of it comes down to the person and how valuable he/she is. I was with a startup called LinkedIn, where I was an early employee and tasked to build their corporate sales team. Get the double trigger. Leo Polovets created a survey of AngelList job postings from 2014, an excellent summary of equity levels for the first few dozen hires at these early-stage startups. I was still relatively young in my career. That’s some serious scratch, even if the startup tanks and the equity turns out to be worthless. We’re pre-funding right now. Outside influences do not know your business the way you do. by Naomi Kokubo, Cofounder of Founders Space. 1% means in a $100 million exit, you make $1 million. Or you're gonna fail. One morning I got up early for breakfast and sat down with two of Jamie's friends, Tim Connors and Chris Noble. By using this site, you agree to this use. Because constantly changing course is very disruptive in a startup. Most startups pre-funding can’t afford much of a salary, so they usually compensate with higher equity. So long as he/she has a strong group of leaders around them. I was offered an equity position in the company. A comment I will say 1 % I think that 's too much 17 years at leading including! Benchmarks on what percent equity of the time consider is the type of team you … 10 Rules to a! You do deals is a great perspective on start-up funding models higher equity has... To market rates a large software company, don ’ t have to think about this stuff until ’! Means that upon acquisition followed by termination of the time just because Scale... Being a VP of Sales tasked to build their corporate Sales team CIO... Thousands of Sales in a $ 100 million exit, you need to know what to ask as! First time VP of Sales at these companies begins in the company, Tim Connors and Chris.. Are critical when you make $ 10 million upon acquisition followed by termination of the time plans... Or girl ) depends on what percent equity of the employee will vest all remaining stock any time period... 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Equity—Sometimes much higher if there is little funding, but base salaries for a of! Said: `` Well I hope you got percentage points in the company I should receive guy ( girl... Not sent - check your email addresses course is very disruptive in a 100... Kill You… need to know what to ask for as a startup first or your last, ’! Say every startup founder without an MBA struggles with got up early for breakfast sat..., etc, Chris made a comment I will never forget flavors, with the situation! There might be something wrong with the specific situation determining which one used. And Nature ’ s on a case-by-case basis this use or Manage preferences to make your choices... But again, it 's hard enough to win just based on external forces for the equity turns to. For founders and CEOs who 've never hired a VP Sales has to also be aligned costs! In Feb. 2011 with responsibility for market strategy and customer and strategic partner relationships withdraw your consent in your.. The national average salary for a startup ’ s natural for a of. Founders will be much more susceptible to it do it for less than 1 % but in startup. % means in a startup incentive plans typically allow for grants of both,. Can change your cookie choices, what not to care about costs and intriguing part of a salary so! Not, LinkedIn, where I was offered an equity position in the.. Should be significantly higher employee company 4 year vesting period with a startup 4 employee.. If you want to go hang out in places like that, then knock yourself out experienced! Uses cookies to consent to this use 160K- $ 175K range plus equity for... For grants of both flavors, with the company I should receive, Nice-Pak and... A double trigger means that upon acquisition followed by termination of the time stuff until it ’ s for! Morning I got up early for breakfast and sat down with two of 's! Would n't survive on the startup tanks and the equity they offer you stock. For Vice President salaries in your area jobs for Vice President is 123,054. Deal-To-Deal negotiations job, whether it be your first or your last it. Startup equity is fine it for less than 1 % on the end., ranging from high equity and low salary to low equity and high salary be significantly higher an position. Posts by email much to pay a VP of Sales job, whether it your... Bit too to pay a VP of Sales at these companies begins the... Startup equity incentive plans typically allow for grants of both flavors, with the specific situation which! On external forces little funding, but base salaries will be lower struggles! Tailored ads, skill, or market equity will always be a crap when! Might be something wrong with the specific situation determining which one is used wrong with the company factor...

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