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Over the last year, the free flow of venture capital funding that propped up hundreds of new startups in the late 2010s started drying up. Founders reported that investment capital became much harder to come by.
That has left new companies with much tighter budgets than startups enjoyed in the last decade, leading many founders to ponder a difficult question: At what point should you start taking a salary from the company you founded?
It’s a question with no consensus, but it elicits strong opinions from the business community. The general trend is that founders are paying themselves more in 2024. A report conducted by accounting firm Pilot in May found that startup founders are paying themselves an average of $142,000 annually, a 17% increase from last year’s average of $121,000. Glossy spoke with founders of fashion and fashion-adjacent startups at various stages of their lives about when they started taking a salary and how much they decided to pay themselves.
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English (US) ·