View Full Version : Unique compensation package - suggestions, please!

11-7-11, 10:06am
I've been offered a part-time job working as the VP of operations for a start-up in the media industry. The job will likely start as ~20 hours per week and expand from there as the company grows. The company is largely virtual, so I will be working from home in Massachusetts, but will likely need to travel to either New York, Texas, and California about once every 6-8 weeks.

The challenging part...designing a compensation package. I am not taking on this job for the sole purpose of collecting a salary. And, I doubt that the company, in it's start up stage, would necessarily agree to the salary number I would be likely to name. Instead, I'm considering accepting the job because it would be an interesting challenge that would build on my operations background, and it is in a field I have not worked in previously. It also has the potential to vastly expand my professional network in ways I could never have imagined. And, last but not least, it allows me to continue teaching as an adjunct faculty member at the local college and to continue to grow my two fledgling entrepreneurial ventures.

So...what to ask for in terms of compensation? I'm curious to hear what is important to others as it will hopefully spark my creative thinking. Also, I would love to hear about others experiences with unique compensation packages.

Some of the ideas I've been kicking around include:
- equity in the company
- tuition towards another degree
- payment to my consulting company rather than taking a salary
- title change to COO vs. VP of operations

Thoughts? Advice? Words of warning? I'd love to hear it all!

iris lily
11-7-11, 11:01am
I have no advice about what you asked, but that opportunity sounds interesting, yay for you!

11-7-11, 12:59pm
I'd advise getting some real true money for it. Don't work for free, otherwise it's volunteering. Free tends to be exploited (even in volunteering, but really especially don't volunteer for a for-profit company!).

Equity that may or may not payoff is nice and can certainly be part of the compensation package, but like many a dot bomber will tell you: get some real true WAGES as well, even if they aren't as high as you'd like.