A successful start-up has offered me a CFO position. The founders have requested that I write up a proposal for compensation.
I am willing to sacrifice the lion's share (or all) of the salary in exchange for a fair amount of equity. The plan is to get my salary corrected to an appropriate level after our next fund-raising round. Stats include:
A) The company's most recent valuation was 13M over a year ago, and we're in talks of a 40M-70M valuation.
B) My market value as a financial and accounting professional is 75k-80k (think Philadelphia dollars, not NYC dollars) without bonus or equity.
C) My background is in FP&A and business analytics. I just finished my MS in Finance/Taxation at a non-target. I am working towards my CPA to strengthen my accounting knowledge and it should be done within the next 12 months.
D) The role would be financial reporting, strategic analysis, working with tax accountants, bookkeeping, bank reconciliations etc. Basically, I'd be the entire finance and accounting department at a 10-man company.
I obviously want as big of a piece I can get, but I don't want to propose anything that would be unfair, greedy, or unprecedented. Can you guys point me in the right direction, maybe through some articles?
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