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As a founder who is soon to start competing in the hiring market, I probably shouldn't be saying this, but there seems to be a huge arbitrage opportunity here available to smart startups. Innovating on tired working practices (that most founders themselves would not enjoy in the least) offers an avenue to out-compete large companies for engineers while paying less cash and making your employees happier, more effective, and more loyal. Please note, I'm not trying to say that startups should underpay employees, but financial reality for most founders does not allow for competing with the giants on salary (or even coming close). Since equity is now viewed dubiously by many, startups need to look for other things they can offer in lieu of 300k/yr that candidates will truly value. Things like flexible schedules (remote or partly remote), generous PTO, and good working conditions are often viewed by engineers as literally priceless. And for good reason. What's the point of tons of cash if you have no free time to spend it and your days consist of stress and drudgery? Sufficient wealth is a necessary component for quality of life, but beyond a certain baseline, other factors become more important. Note: if you want to work on fun security, encryption, devops, and ux challenges, and enjoy your life at the same time, and R.intersection(["FP", "TypeScript", "Security", "Kubernetes", "Go", "Rails"], YOUR_SKILLS).length >= 2-or-3, and you can do 2-3 days per week onsite in SF (with some flexibility for remote stints) please send me a résumé: dane [at] envkey.com |
This could be merely viewing it with the correct amount of doubt, as the trend has been toward less information asymmetry between founders/employers and candidates/employees.
The small size of employee option pools (which then get diluted) doesn't help, either. I can't remember where/when I read it, but I believe YC is pushing to change that.