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As A Startup, How Much Should I Pay Workers? - Jobs/Vacancies (2) - Nairaland

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Re: As A Startup, How Much Should I Pay Workers? by CuteTj(m): 7:33am On Sep 24, 2016
Find out what other businesses like yours pays it's staff, then use that as a benchmark (slightly higher or lower) depending on how much you can afford.

1 Like

Re: As A Startup, How Much Should I Pay Workers? by temptnow: 7:34am On Sep 24, 2016
baconline:
Make sure u have at least a year salary kept away before starting
they will drag him to ATM machine for their salary
Re: As A Startup, How Much Should I Pay Workers? by dominique(f): 7:34am On Sep 24, 2016
AuroraB:
I didn't see Op excusing paying them well. Your latter assertion of 'paying them well when business picks' is uncalled for. Don't give this new entrepreneur this Nigerian -employer-mentality which we know too well, mbok sad

I'm not saying he shouldn't pay the well o, I only suggested he should pay what he can afford at the moment. You don't expect him to rob a bank to pay employees do you. It's best if he doesn't have more than two highly efficient staff and employ more as the businesses picks up.

3 Likes

Re: As A Startup, How Much Should I Pay Workers? by thirty(m): 7:34am On Sep 24, 2016
Carry out a good feasibility study.
Don't pay less. Don't pay more.
Re: As A Startup, How Much Should I Pay Workers? by eph12(m): 7:35am On Sep 24, 2016
How much will you be making yearly?
Re: As A Startup, How Much Should I Pay Workers? by Nobody: 7:35am On Sep 24, 2016
obiaguna:
I wonder what type of start up founder you are if you are coming here to ask strangers for the salary range to pay your staff. It's funny really.

What do u take nairaland for; there are really successful people here who has gone through the questions he asked, and can provide him a reliable answer from experience

and abt strangers: there opinions are more truthful and unbias as they have nothing to gain/loose from you, no jealousy or hatred; they simply tell u what they think/feel.

10 Likes

Re: As A Startup, How Much Should I Pay Workers? by tellwisdom: 7:35am On Sep 24, 2016
300k isnt bad undecided...No give them bonus oo...Just morning food and dinner

2 Likes

Re: As A Startup, How Much Should I Pay Workers? by Tosssin(m): 7:36am On Sep 24, 2016
1) Customer service- 300k 2) Tech Guy- 150k 3) Advertiser-100k 4) Operations manager-200k 5) Accountant-250k

1 Like

Re: As A Startup, How Much Should I Pay Workers? by temptnow: 7:36am On Sep 24, 2016
hats:
Hello,
I will soon launch my online company but I've been thinking of how much to pay the following
1) Customer service
2) Tech Guy
3) Advertiser
4) Operations manager
5) Accountant

Remember, we're just starting so paying huge sum of amount may not be possible as a startup. So how much do you think is decent enough to pay per month?
if you truly love your idea, don't launch it now. The country is no longer stable for start ups. Wait till next year to avoid struggling and wasting time and money

2 Likes

Re: As A Startup, How Much Should I Pay Workers? by kaboninc(m): 7:36am On Sep 24, 2016
AuroraB:
Correct!!! Most start-ups dunno this. Like someone said before now, merge a few positions. I dunno your location, woulda suggest the Head, Operations man the Customer service unit for now. There isn't too many staff yet for him to manage undecided

We do not know the nature of the business, the strategy of the business and his vision. We do not know the constraints of his resources. Hence we can't properly give advice for his staffing needs
Re: As A Startup, How Much Should I Pay Workers? by eph12(m): 7:36am On Sep 24, 2016
AuroraB:
I didn't see Op excusing paying them well. Your latter assertion of 'paying them well when business picks' is uncalled for. Don't give this new entrepreneur this Nigerian -employer-mentality which we know too well, mbok sad
You have a business of yours? If you do hope your employees are happy with their salaries?
Re: As A Startup, How Much Should I Pay Workers? by kaboninc(m): 7:38am On Sep 24, 2016
mysticgal:
Op (hats) please could I apply for the position of an advertiser and how would I do so if possible.
Thank you and a pleasant morning to you

Ps kaboninc, the guy asking you to shoot him a mail is a professional in that field, trust me, the guy is good. So why not try him out smiley

Lol.

You're already a marketer! Thanks
Re: As A Startup, How Much Should I Pay Workers? by eph12(m): 7:39am On Sep 24, 2016
temptnow:
if you truly love your idea, don't launch it now. The country is no longer stable for start ups. Wait till next year to avoid struggling and wasting time and money
Seriously? A business will always struggle in the first 1-5 years depending on the nature of the business. You just need to have a credible financial plan, marketing strategy and be consistent. There's never a better time to launch a new business.

4 Likes 1 Share

Re: As A Startup, How Much Should I Pay Workers? by AuroraB(f): 7:43am On Sep 24, 2016
kaboninc:


We do not know the nature of the business, the strategy of the business and his vision. We do not know the constraints of his resources. Hence we can't properly give advice for his staffing needs
Yes, that's my point. If he has a client base already too Else, the first months might have him paying salaries with no return or much returns. I'm thinking he goes with a Techguy, advertiser, Ho/Csr for now gaan sad
Re: As A Startup, How Much Should I Pay Workers? by t2flavours: 7:45am On Sep 24, 2016
Oga start-up, please do not start this business yet if you can ask this question here....go and prepare a business plan first...

1 Like

Re: As A Startup, How Much Should I Pay Workers? by AuroraB(f): 7:45am On Sep 24, 2016
Tosssin:
1) Customer service- 300k
2) Tech Guy- 150k
3) Advertiser-100k
4) Operations manager-200k
5) Accountant-250k
Abasi! Do you know the location of his business yet

1 Like

Re: As A Startup, How Much Should I Pay Workers? by kaboninc(m): 7:46am On Sep 24, 2016
AuroraB:
Yes, that's my point. If he has a client base already too Else, the first months might have him paying salaries with no return or much returns. I'm thinking he goes with a Techguy, advertiser, Ho/Csr for now gaan sad

Yeah you're right!

However I strongly believe he needs to have a solid financial plan based on realistic estimates before making a decision on staffing needs
Re: As A Startup, How Much Should I Pay Workers? by temptnow: 7:49am On Sep 24, 2016
eph12:

Seriously? A business will always struggle in the first 1-5 years depending on the nature of the business. You just need to have a credible financial plan, marketing strategy and be consistent. There's never a better time to launch a new business.
guy you think it's only him? We plenty but we can't be that stupidd, people don't have extra money to spend on anything now, unless you are selling data bundle that people can't do without. Or your startup is only going to make money through Adsense. Bigger startups are struggling now, then to talk of upcoming smaller one. In business it's good to be smart and know the right time to hit the market. Don't be deceived by that " launch during hard times." Not in this present Nigeria.

1 Like

Re: As A Startup, How Much Should I Pay Workers? by Youngzedd(m): 7:52am On Sep 24, 2016
eph12:

Seriously? A business will always struggle in the first 1-5 years depending on the nature of the business. You just need to have a credible financial plan, marketing strategy and be consistent. There's never a better time to launch a new business.

1 Like

Re: As A Startup, How Much Should I Pay Workers? by mysticgal(f): 8:02am On Sep 24, 2016
kaboninc:


Lol.

You're already a marketer! Thanks
No seriously, you just too good in your field that I have no option than to recommend you to Mr hats...... You know... My judgements are good wink

1 Like 1 Share

Re: As A Startup, How Much Should I Pay Workers? by Nobody: 8:06am On Sep 24, 2016
baconline:
Make sure u have at least a year salary kept away before starting
This is solid advice.

I can't remember where I heard this before but I'm guessing it was business school where we were told a startup can go for its first few months to almost two years without paying workers. Many well planned businesses fail to see profit for sometimes long as ten years into operations. Getting a feel of the industry before securing a foothold is more of a learning curve which helps a company's survival in the long run.

Long story short I believe the OP should save up salaries and profit made for a period time before making up his mind on how much to finally pay staff. The time saved doing this would give a rough idea how much the company can make on average to avoid overpaying/underpaying his staff.
Re: As A Startup, How Much Should I Pay Workers? by Asuokaa: 8:08am On Sep 24, 2016
kaboninc:

Aspiring to be!
Can u. Pls gibe me ur whatsapp no or email.. I want to discuss wit u
Re: As A Startup, How Much Should I Pay Workers? by Asuokaa: 8:08am On Sep 24, 2016
kaboninc:

Aspiring to be!
Can u. Pls gibe me ur whatsapp no or email.. I want to discuss wit u
Re: As A Startup, How Much Should I Pay Workers? by InvertedHammer: 8:08am On Sep 24, 2016
hats:
Hello,
I will soon launch my online company but I've been thinking of how much to pay the following
1) Customer service
2) Tech Guy
3) Advertiser
4) Operations manager
5) Accountant

Remember, we're just starting so paying huge sum of amount may not be possible as a startup. So how much do you think is decent enough to pay per month?
/
If you don't know the answers to these questions, you have no business running the startup.

It sounds like someone with a dream but no vision.
\

1 Like

Re: As A Startup, How Much Should I Pay Workers? by Nobody: 8:10am On Sep 24, 2016
hats:
Hello,
I will soon launch my online company but I've been thinking of how much to pay the following
1) Customer service
2) Tech Guy
3) Advertiser
4) Operations manager
5) Accountant

Remember, we're just starting so paying huge sum of amount may not be possible as a startup. So how much do you think is decent enough to pay per month?
online?
Biko Lemme apply nah. I am experienced in this smiley
Re: As A Startup, How Much Should I Pay Workers? by AuroraB(f): 8:14am On Sep 24, 2016
kaboninc:


Yeah you're right!

However I strongly believe he needs to have a solid financial plan based on realistic estimates before making a decision on staffing needs
That's right
Re: As A Startup, How Much Should I Pay Workers? by pheyimen: 8:27am On Sep 24, 2016
Meet pple who do d same online biz with urs & get ursf professional advise
Re: As A Startup, How Much Should I Pay Workers? by shaybebaby(f): 8:36am On Sep 24, 2016
I don't know if you intend to supply goods or services but as you say your business is online I'm wondering if you really need all these people from the onset.

Without this information, I'd suggest you lose some of the peeps and start with a smaller staff base because you want to keep costs as low as possible.

Keep the tech position, success of your business partly depends on this as I imagine he will run and maintain the platform for your business. I would expect him to be paid the market rate( you pay peanuts and you get monkeys).

Accountant- for such a start up, I don't think you need one as yet. With an accounting software, you can keep your books yourself. And at the end of the year, outsource for an accountant to sign off your financial statement and prepare your tax return.

You do NOT pay staff from profits, your wages are part of the business expenses deductible from whatever revenues you generate to arrive at a profit or loss.

As such must be taken into account when forecasting for profit.

more details about what you intend doing would probably get you better advise. Good luck with it all.

1 Like

Re: As A Startup, How Much Should I Pay Workers? by mice(m): 8:36am On Sep 24, 2016
Make I drop resume I will grow with your company
Re: As A Startup, How Much Should I Pay Workers? by Nobody: 8:37am On Sep 24, 2016
There are a few things, Human capital is important. When doing your start up,did you consider human capital? And are there a few roles you can do without those extra hands? How much have u made so far before putting the vacancies out. Take for example, Linda ikeji before or even after buying her mansion and her range rover, she did most of the work herself before bringing new hands. Find people willing to work, u can also offer transport incentives, then commission basis, no need for offering salary when u r barely standing. Also find people that share your passion.

My Buhari kobo.

1 Like 1 Share

Re: As A Startup, How Much Should I Pay Workers? by Abdstrakt(m): 8:46am On Sep 24, 2016
hats:
Hello,
I will soon launch my online company but I've been thinking of how much to pay the following
1) Customer service
2) Tech Guy
3) Advertiser
4) Operations manager
5) Accountant

Remember, we're just starting so paying huge sum of amount may not be possible as a startup. So how much do you think is decent enough to pay per month?

Recruit interns for some of the positions. That way you get to pay them way less than what you would an experienced staff.
But if you are looking for experience heads, you can offer them equity positions and they'll work for next to nothing.

PS. The Tech guy can double as the advertiser as well, so factor that in when recruiting.

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