Entrepreneur Plus - Short White
For Subscribers

Top Notch Looking for top-level employees for your start-up? Here's what you'll have to offer.

By Paul DeCeglie

Opinions expressed by Entrepreneur contributors are their own.

If you're looking to bring in a highlevel executive, beprepared for a high-level price tag-an estimated 20 percent morethan you would have paid about a year ago. Want to beef up sales?Hire a sales VP for $165,000 a year. Ready to bring in a new CEO?Expect to pay $200,000 or more. According to venture capital firmVentureOne Corp., that's the kind of money (including bonusesand options) being paid by start-ups nationwide and across industrylines.

VentureOne recently surveyed 800 privately held U.S. companiesthat have received venture capital. Increased salaries reflect thetightest employment market in a quarter century as well asunprecedented rewards that dotcom and high-tech start-ups use tolure managers.

The average new business "just can't compete withventure-funded start-ups for top-level people," suggests LoisMarshall, whose Carmel, California-based The Marshall Group is anexecutive search firm. "The cream of the crop is going wherethe money is." If your business demands high-calibermanagement, "you must stretch to give them stock, stockoptions, phantom stock or something," she advises, or you risklosing even existing employees.

This is a subscriber-only article. Join Entrepreneur+ today for access

Related Topics

Business News

'Earth Shaking News': Fans Rejoice Over the Return of 'Retired' McDonald's Cult-Favorite Item

The McRib last appeared on menus in 2022 during the company's self-proclaimed "farewell tour" for the sandwich.

Business Culture

Running a Family Business Means You Need to Prepare Your Kids to Take Over — Here's How to Do It Right.

Planning to pass on your business to your kids? Preparing them for the next phase of your business is a complex and multifaceted process — so here's what you need to do.

Business News

75,000 Kaiser Permanente Unionized Employees Launch Historic Strike Over Pay and Staffing Concerns

It's the largest healthcare worker strike in the United States, affecting 40% of Kaiser Permanente's workforce across multiple states and the District of Columbia.

Business News

'Not Much Financial Education' — Yet Millennials Have Boomers and Gen X Beat When It Comes to Retirement Savings. Here's Why.

Millennials might own fewer homes and make less money — but they're on track for a better retirement.

Business News

These 11 Retailers Are Most Likely to File For Bankruptcy in 2023, According to a New Report

Several well-known retailers already filed for bankruptcy in 2023 — now, a new report is highlighting the retailers most likely to follow suit.

Business News

Two of Amazon's Most Popular Prime Features Might Actually Be Illegal

Among the practices under scrutiny by the FTC are Amazon's "Buy Now" button and the shipping component of Prime.