I have started a company with a cofounder and we have an idea for a project management application somewhere in the realm of Basecamp but with a different focus. I have worked at several web forms and internet companies in the past (AOL, and Monster). We are trying to take the concept from ideas on paper with requirements to standing up a minimum viable product.
We are at a crossroad where we would like to bring on a technical person to do the development side of the work, and need to figure out how we would compensate him for future sweat equity.
Is there a ball park average of what % you would give that first employee? We would be willing to give up equity for the right person but is there an average range for the first employee. If we get a junior to Mid level developer we do not want to pay as much as a senior person. If we found a “hot shit” senior developer we would obviously pay more.
What have some of you all done when bringing on the 1st real employee?