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Please Nairalanders How Much Should A Start Up Pay Its Employees For A Start - Business - Nairaland

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Please Nairalanders How Much Should A Start Up Pay Its Employees For A Start by oyatake200: 2:42pm On Feb 04, 2016
Hello guys, mature answers please. We are about to launch our startup in the online and home service education sector. How much should we structure our salary for our in house employees considering we are just starting.

We intend to start with 6 Bsc holders as staffs. Please kindly help me with your opinion so i can work out my structure.
Re: Please Nairalanders How Much Should A Start Up Pay Its Employees For A Start by Nobody: 2:52pm On Feb 04, 2016
It all depends on projected revenue from the startup's streams, and what the prospective employees are willing to work with. You need to find a common ground. I.e. first you have to find the mean salary of employees in similar startups and juxtapose it with your company's financial capabilities. Basically, use your BMC to figure out the optimum pay.
Re: Please Nairalanders How Much Should A Start Up Pay Its Employees For A Start by aloeman15(m): 2:54pm On Feb 04, 2016
What are their jobs? What level of experience? These usually determine what they earn.
Quick fix- minimum wage to 30k plus bonuses, depending on how you earn.
Or check the current wages in the industry, based on experience and offer staged pay increases- GUARANTEED- based on your earning projections.
Make sure to consult other industry players.
Last last, google is your friend.
Re: Please Nairalanders How Much Should A Start Up Pay Its Employees For A Start by aloeman15(m): 2:57pm On Feb 04, 2016
Also, be aware that you're not meant to get a salary until the biz can earn net profits.
Goodluck and God speed.

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