Hutchison Guide to Compensation

Transcription

2013 ANNUAL COMPENSATION SURVEY
Venture-Backed Technology & Life Science Companies in the Southeast
Hutchison PLLC– Driven by Our Clients’ Success SM
hutchlaw.com
Carlyle Conlan – Meeting the Demand for Experienced Professionals SM
ccesearch.com
© 2013 Hutchison
© 2007 Hutchison
PLLCLaw
andGroup
Carlyle
PLLC.
Conlan.
All rights
Allreserved.
rights reserved.
TABLE OF CONTENTS
Introduction. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 4
Overview of Participating Companies . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 5
Chief Executive Officer . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 6
Chief Financial Officer. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 7
Chief Operating Officer. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 8
Chief Technology Officer. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 9
Chief Scientific Officer. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 10
Chief Medical Officer. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 11
Vice President of Engineering. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 12
Vice President of Business Development . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 13
Vice President of Sales . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 14
Vice President of Marketing. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 15
Vice President of Human Resources. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 16
Controller . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 17
General Employee Policies. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 18
Trends and Forecasts. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 19
Year-Over-Year Cash Compensation Comparison . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 20
Salary in Relation to Total Equity Financing for Select C-Level Positions. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 22
Board of Directors. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 24
Board of Advisors. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 25
Fundraising . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 26
About Hutchison PLLC. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 27
About Carlyle Conlan . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 28
© 2013 Hutchison PLLC and Carlyle Conlan. All rights reserved.
2
Disclaimer
This survey has been compiled by Hutchison PLLC and Carlyle Conlan solely for use by their clients and
other approved parties. This report should not be used for any purpose other than as one factor of many in
determining appropriate levels of compensation for certain employee positions.
Please note that all compensation data within this report is subject to statistical bias based on the relatively
small number of responses received.
Confidentiality
Hutchison PLLC and Carlyle Conlan recognize the importance of confidentiality regarding compensation
data. As a result, only the aggregate results of these surveys have been disclosed, and all individual responses
have been kept anonymous and treated as confidential.
Distribution
Information in this report may not be reproduced or distributed in any form without the prior written
permission of Hutchison PLLC and Carlyle Conlan.
3110 Edwards Mill Road, Suite 300, Raleigh, NC 27612
Phone: 919.829.9600, Fax: 919.829.9696
hutchlaw.com
430 Davis Drive, Suite 230, Morrisville, NC 27560
Phone: 919.474.0771, Fax: 919.474.0682
ccesearch.com
3
INTRODUCTION
Purpose
One of the key issues for emerging growth technology and life science companies is attracting and retaining top-level
executives. While a number of compensation surveys are undertaken each year, this survey is intended to specifically address
the unique Southeast market for venture-backed technology and life science companies.
Hutchison PLLC and Carlyle Conlan have produced this report as a service to our clients and the entrepreneurial community.
Participant Profile
The 2013 compensation survey questionnaire was sent to over 300 companies and a total of 54 responded. These emerging
growth companies, based in the Southeast (Alabama, Florida, Georgia, Mississippi, Tennessee, South Carolina and North
Carolina), have received equity financing from an institutional investor or have received equity financing of at least $500,000
from angel investors.
Hutchison PLLC and Carlyle Conlan requested information regarding general employee policies, benefits and compensation
data for the following executive positions:
• Chief Executive Officer
• Vice President of Engineering
• Chief Financial Officer
• Vice President of Business Development
• Chief Operating Officer
• Vice President of Sales
• Chief Technology Officer
• Vice President of Marketing
• Chief Scientific Officer
• Vice President of Human Resources
• Chief Medical Officer
• Controller
Additionally, we requested information regarding the Board of Directors, Board of Advisors, and salary and workforce changes.
The Survey also includes a year-over-year cash compensation comparison for the twelve surveyed positions. Newly added in
the 2013 edition is salary data for the four most reported C-level positions as related to total equity financing of participating
companies.
It is our intention to compile this report and distribute the results on an annual basis. We encourage comments and questions
on the information contained within this survey, in addition to suggestions related to future reports.
Questions or Additional Information
Lindsay Burns
Marketing Manager
Hutchison PLLC
[email protected]
919.829.4299
Please note that all figures are based on data provided from the year 2013, unless otherwise indicated.
4
OVERVIEW OF PARTICIPATING COMPANIES
Stage of Development
Industry
30
29
12
26
Technology
16
28
Life Science
# Companies
25
Pre-Revenue
20
15
Revenue
17
Profitable
10
8
5
0
Total Equity Financing
30
27
11 - 20
21 - 30
15
31 - 40
10
8
4
0
20
5
2
# Companies
41 - 50
8
11
9
1.1 - 5
5.1 - 10
5
Greater than 10
2
Company Age
# Employees
20
1-10
16
11-25
26-50
51-100
7
Less than 500K
16
500K - 1
Number of Employees
7
100+
5
0
91
16
10
51+
10
5
15
0
19
15
# Companies
0.5 - 10
20
5
Millions of dollars
(except where noted)
20
Millions of dollars
# Companies
# Companies
25
2013 Operating Budget
18
15
14
10
Age - Based on year
of incorporation
1-3
13
4-6
7-10
9
5
10+
0
Percentage of respondents
offering equity through an
incentive plan designed to
attract, retain and motivate
service providers
76
reporting on the fully
diluted equity reserved for
issuance under the plan
5-50% Fully diluted equity pool size
13% Mean
11% Median
5
CHIEF EXECUTIVE OFFICER
Responses by Number
of Employees
20
10
77
All Respondents
Founder
Executive also a Founder
Executive not a Founder
Industry
Technology
Life Science
Number of Employees
1 to 10
11 to 25
26 to 50
51 to 100
100+
Pre-Revenue
Revenue
Profitable
25
Salary ($)
Low - High
Median
227,500
0
- 550,000
Mean
108,682
212,173
261,950
205,000
250,000
0
- 475,000
120,000 - 550,000
110,923
103,995
200,167
255,556
215,000
250,000
24,000 - 300,000
0
- 550,000
157,964
237,600
119,665
260,000
302,000
164,950
250,000
95,000
250,000
300,000
0
140,000
75,000
110,000
155,000
186,100
250,015
237,625
189,000
240,000
243,000
ue
+
Re
ve
n
0
00
10
0
-1
-5
Pr
e-
51
26
-2
5
0
Average annual bonus
as a percentage of salary
awarded in 2012
Mean
223,858
8
5
0
1
eligible for an annual bonus
5
0
-1
Companies
Reporting Position
6
51
e
Life Science
Technology
15
10
7
5
10
0
15
bl
20
26
20
14
24
25
30
25
17
15
11
40
49
30
Pr
ofi
ta
60
50
Responses by Stage
of Development
ue
Responses by
Industry
Re
ve
n
Total Responses
with a pre-negotiated
severance arrangement
Annual Bonus ($) †
Low - High
Median
94,500
17,990 - 300,000
Mean
15.19
99,000
85,500
17,990 - 300,000
18,900 - 250,000
20.82
3.94
14.00
3.30
0.00
0.00
- 100.00
- 10.00
100,471
116,893
100,000
90,000
20,000 - 250,000
17,990 - 300,000
20.73
10.10
9.00
5.00
0.20
0.00
- 100.00
- 51.00
330,000
323,000
222,987
550,000
475,000
62,498
93,112
69,956
119,000
171,850
63,000
70,000
90,000
100,000
175,000
17,990
18,900
0
50,000
100,000
-
112,500
300,000
136,779
250,000
261,250
19.46
8.25
20.27
24.46
9.46
18.00
5.00
7.00
14.23
5.80
0.00
0.10
1.90
1.60
5.00
- 63.00
- 33.34
- 100.00
- 75.00
- 23.00
0
- 330,000
24,000 - 550,000
140,000 - 350,000
63,898
120,089
113,750
61,250
106,250
77,500
17,990 - 125,000
20,000 - 261,250
50,000 - 300,000
12.89
14.12
22.85
10.00
7.00
7.50
0.00
1.60
2.00
- 51.00
- 75.00
- 100.00
-
Equity (% of Company)
Low - High
Median
8.00
0.00 - 100.00
† Maximum possible values for 2013 performance were used for calculations. Mean/median data represents only those eligible.
Low/High values not included where only 1 response was available.
6
CHIEF FINANCIAL OFFICER
Responses by Number
of Employees
13
6
6
4
10
4
Life Science
Technology
74
All Respondents
Founder
Industry
Technology
Life Science
Number of Employees
1 to 10
11 to 25
26 to 50
51 to 100
100+
Pre-Revenue
Revenue
Profitable
21
Salary ($)
Low - High
Median
175,000 50,000 - 312,900
Mean
57,820
80,000
186,852
80,000
180,000
50,000 - 110,000
70,000 - 312,900
N/A
57,820
146,000
211,991
140,000
224,000
70,000 - 260,000
50,000 - 312,900
50,000
190,444
173,333
167,500
198,725
N/A
180,000
150,000
167,500
176,000
N/A
130,000
70,000
80,000
130,000
156,400
190,793
146,667
163,000
193,000
150,000
ue
+
Re
ve
n
Pr
e-
awarded in 2012
Mean
177,561
0
00
0
-5
26
-2
5
0
0
1
3
0
-1
Companies
Reporting Position
6
2
11
0
4
5
2
5
16
10
10
12
15
15
-1
25
20
9
28
e
8
bl
25
20
Pr
ofi
ta
10
ue
30
Responses by Stage
of Development
Re
ve
n
Responses by
Industry
51
Total Responses
Low - High
Median
47,500
10,000 - 125,160
Mean
1.28
N/A
47,500
N/A
N/A
10,000 - 125,160
5.67
0.82
5.67
0.93
3.00
0.00
-
8.34
2.50
52,083
61,262
45,000
47,500
10,000 - 112,500
25,000 - 125,160
1.62
0.91
1.00
0.38
0.00
0.20
-
8.34
3.00
N/A
260,000
300,000
250,000
312,900
N/A
55,233
48,782
53,625
70,415
N/A
46,900
48,782
38,500
63,250
N/A
32,600
10,000
0
0
-
N/A
99,000
87,564
112,500
125,160
3.00
0.87
0.61
2.77
0.83
N/A
0.93
0.71
1.24
1.00
N/A
0.11
0.00
0.00
0.00
-
N/A
2.50
1.00
8.34
1.30
50,000 - 229,000
70,000 - 312,900
100,000 - 190,000
38,133
64,929
48,250
36,000
60,000
48,250
- 45,800
0
10,000 - 125,160
30,000 - 66,500
1.16
1.42
0.60
0.93
1.00
0.60
0.00
0.00
0.20
-
3.00
8.34
1.00
-
Low - High
Median
1.00
0.00 - 8.34
7
CHIEF OPERATING OFFICER
Responses by Number
of Employees
4
4
11
80
All Respondents
Founder
Industry
Technology
Life Science
Number of Employees
1 to 10
11 to 25
26 to 50
51 to 100
100+
Pre-Revenue
Revenue
Profitable
2
Salary ($)
Low - High
Median
180,000 120,000 - 231,000
Mean
76,000
171,857
177,000
180,000
178,000
120,000 - 231,000
120,000 - 220,000
51,000
91,000
169,636
188,250
166,000
201,000
120,000 - 220,000
120,000 - 231,000
175,500
177,833
142,500
170,000
192,000
175,500
190,000
142,500
170,000
190,000
120,000
130,000
120,000
140,000
166,000
170,250
174,800
190,000
165,000
173,000
N/A
1
ue
+
Re
ve
n
0
00
10
0
-1
-5
awarded in 2012
Mean
174,600
4
0
Pr
e-
-1
21
2
0
1
2
1
Life Science
Technology
Companies
Reporting Position
2
4
51
5
0
3
2
0
10
5
15
6
3
11
15
8
-2
20
10
53
e
5
bl
25
10
6
Pr
ofi
ta
6
ue
30
Responses by Stage
of Development
Re
ve
n
Responses by
Industry
26
Total Responses
Low - High
Median
84,000
20,000 - 120,000
Mean
5.37
53,000
95,000
20,000 - 80,000
52,000 - 120,000
8.50
2.63
5.00
1.50
2.20
0.00
-
23.00
8.00
76,667
74,000
84,000
74,000
20,000 - 120,000
53,000 - 95,000
3.83
9.59
4.00
7.60
0.00
0.16
-
8.00
23.00
231,000
215,000
165,000
200,000
220,000
175,500
51,000
120,000
100,000
78,333
N/A
53,000
N/A
N/A
88,000
N/A
20,000
N/A
N/A
52,000
- N/A
- 80,000
- N/A
N/A
- 95,000
18.00
5.03
5.50
0.10
1.05
18.00
5.00
5.50
0.10
1.50
13.00
2.20
3.00
0.00
0.16
-
23.00
7.30
8.00
0.20
1.50
120,000 - 231,000
120,000 - 220,000
N/A
N/A
80,000
72,167
95,000
N/A
70,500
N/A
- N/A
N/A
20,000 - 120,000
- N/A
N/A
12.08
3.21
0.16
10.15
2.60
N/A
5.00
0.00
N/A
-
23.00
8.00
N/A
-
Low - High
Median
4.00
0.00 - 23.00
8
CHIEF TECHNOLOGY OFFICER
Responses by Number
of Employees
5
20
6
21
15
4
15
8
4
3
3
6
3
4
5
1
2
0
0
60
All Respondents
Founder
Industry
Technology
Life Science
Number of Employees
1 to 10
11 to 25
26 to 50
51 to 100
100+
Pre-Revenue
Revenue
Profitable
16
Salary ($)
Low - High
Median
133,900 20,000 - 257,500
Mean
91,636
163,300
148,582
171,500
130,000
20,000 - 235,000
85,000 - 257,500
122,600
65,833
161,327
141,250
140,000
127,500
120,000 - 235,000
20,000 - 257,500
116,000
150,500
159,725
191,667
190,167
120,000
130,000
149,450
200,000
183,000
20,000
125,000
120,000
140,000
130,000
120,000
175,318
154,725
127,500
178,000
136,950
4
ue
Re
ve
n
10
Pr
e-
awarded in 2012
Mean
155,590
0
0
-1
51
5
-5
26
-2
11
1
-1
Companies
Reporting Position
0
Life Science
Technology
6
+
2
00
10
0
11
10
5
29
e
25
12
6
bl
6
Pr
ofi
ta
30
Responses by Stage
of Development
ue
Responses by
Industry
Re
ve
n
Total Responses
Low - High
Median
69,000
16,000 - 400,000
Mean
5.56
69,000
58,000
20,000 - 400,000
16,000 - 120,000
8.37
2.43
4.90
2.00
1.30
0.00
-
25.00
5.00
92,889
86,000
41,000
86,000
16,000 - 400,000
69,000 - 103,000
5.40
6.13
4.00
3.30
0.00
0.00
-
25.00
18.00
230,000
210,000
220,000
235,000
257,500
69,000
52,000
70,333
220,000
61,333
N/A
52,000
75,000
220,000
41,000
N/A
20,000
16,000
40,000
40,000
-
N/A
84,000
120,000
400,000
103,000
7.13
5.35
2.95
9.68
2.05
4.50
4.40
3.40
2.75
2.05
1.50
0.00
0.00
1.30
2.00
-
18.00
14.00
5.00
25.00
2.10
20,000 - 230,000
120,000 - 257,500
125,000 - 220,000
69,000
131,333
37,750
N/A
93,500
30,000
- N/A
N/A
40,000 - 400,000
16,000 - 75,000
6.36
3.30
10.20
5.00
3.38
7.90
0.00
1.30
0.00
-
18.00
5.00
25.00
-
Low - High
Median
4.00
0.00 - 25.00
9
CHIEF SCIENTIFIC OFFICER
Responses by Number
of Employees
Responses by Stage
of Development
30
6
25
5
5
20
4
4
3
3
60
0
Mean
174,309
Salary ($)
Low - High
Median
189,000
0
- 304,600
Mean
58,414
130,571
250,850
150,000
249,400
21,300
86,250
N/A
174,309
N/A
189,000
N/A
0
N/A
- 304,600
120,833
229,267
N/A
N/A
252,300
150,000
228,000
N/A
N/A
252,300
0
189,000
N/A
N/A
200,000
141,633
216,900
200,000
169,500
206,500
N/A
Re
ve
n
Pr
e-
45
e
bl
ue
+
0
00
10
0
-1
-5
awarded in 2012
1
0
51
5
-2
26
1
21
All Respondents
Founder
Industry
Technology
Life Science
Number of Employees
1 to 10
11 to 25
26 to 50
51 to 100
100+
Pre-Revenue
Revenue
Profitable
0
-1
Companies
Reporting Position
1
0
0
0
2
2
1
Life Science
Technology
4
ta
11
5
3
2
11
10
6
Pr
ofi
11
15
6
6
ue
Responses by
Industry
Re
ve
n
Total Responses
Low - High
Median
54,160
18,900 - 121,840
Mean
10.35
20,000
84,500
18,900 - 25,000
54,160 - 121,840
14.67
0.25
18.00
0.25
1.70
0.25
-
31.00
0.25
N/A
58,414
N/A
54,160
- N/A
N/A
18,900 - 121,840
N/A
10.35
N/A
6.50
N/A
0.25
-
N/A
31.00
- 220,000
- 270,800
N/A
N/A
- 304,600
22,500
54,020
N/A
N/A
100,920
22,500
54,160
N/A
N/A
100,920
20,000
18,900
N/A
N/A
80,000
- 25,000
- 89,000
- N/A
N/A
- 121,840
16.45
1.50
N/A
N/A
0.25
18.00
0.25
N/A
N/A
N/A
1.70
0.25
N/A
N/A
N/A
-
31.00
4.00
N/A
N/A
N/A
0
- 270,800
150,000 - 304,600
N/A
N/A
36,530
63,960
80,000
36,530
57,000
N/A
18,900 - 54,160
20,000 - 121,840
- N/A
N/A
13.38
7.65
0.25
13.50
1.70
N/A
0.25
0.25
N/A
-
31.00
21.00
N/A
0
- 220,000
200,000 - 304,600
Low - High
Median
6.50
0.25 - 31.00
10
CHIEF MEDICAL OFFICER
Responses by
Industry
Responses by Number
of Employees
4.0
30
2.0
4
6
3.5
25
Responses by Stage
of Development
3.0
1.5
2.5
2.0
1.0
1
1.5
1.0
80
All Respondents
Founder
Industry
Technology
Life Science
Number of Employees
1 to 10
11 to 25
26 to 50
51 to 100
100+
Pre-Revenue
Revenue
Profitable
21
Salary ($)
Low - High
Median
228,000 190,000 - 346,500
Mean
66,365
228,000
270,912
N/A
273,574
N/A
N/A
190,000 - 346,500
N/A
66,365
N/A
262,330
N/A
228,000
N/A
N/A
190,000 - 346,500
N/A
273,225
N/A
N/A
218,750
N/A
278,199
N/A
N/A
N/A
N/A
190,000
N/A
N/A
N/A
346,500
278,199
204,375
N/A
278,199
204,375
Pr
e-
60
e
bl
ta
ue
+
0
00
awarded in 2012
Mean
262,330
0.0
10
0
-1
-5
5
-2
0
51
1
0
0
0.0
-1
Companies
Reporting Position
0.5
26
0
Life Science
Technology
0
5
0.5
1
11
5
Re
ve
n
10
Pr
ofi
5
15
2
ue
20
2
Re
ve
n
Total Responses
Low - High
Median
72,931
38,000 - 81,600
Mean
1.25
Low - High
Median
1.05
0.24 - 2.70
N/A
72,931
N/A
N/A
38,000 - 81,600
2.70
0.88
N/A
0.65
N/A
0.24
-
N/A
2.00
N/A
66,365
N/A
72,931
- N/A
N/A
38,000 - 81,600
N/A
1.25
N/A
1.05
N/A
0.24
-
N/A
2.70
N/A
- 346,500
N/A
N/A
N/A
N/A
62,967
N/A
N/A
76,562
N/A
69,300
N/A
N/A
N/A
N/A
38,000
N/A
N/A
N/A
- N/A
- 81,600
- N/A
N/A
- N/A
N/A
1.50
N/A
N/A
0.24
N/A
1.53
N/A
N/A
N/A
N/A
0.24
N/A
N/A
N/A
-
N/A
2.70
N/A
N/A
N/A
N/A
N/A
228,000 - 328,398
190,000 - 218,750
69,300
81,600
57,281
N/A
N/A
57,281
- N/A
N/A
- N/A
N/A
38,000 - 76,562
0.24
1.88
1.12
N/A
1.88
1.12
N/A
1.05
0.24
-
N/A
2.70
2.00
11
VICE PRESIDENT OF ENGINEERING
Responses by Number
of Employees
5
4
3
9
2
11
Life Science
Technology
82
All Respondents
Founder
Industry
Technology
Life Science
Number of Employees
1 to 10
11 to 25
26 to 50
51 to 100
100+
Pre-Revenue
Revenue
Profitable
14
awarded in 2012
Mean
153,364
Salary ($)
Low - High
Median
150,000 100,000 - 220,000
Mean
28,614
175,000
148,556
175,000
150,000
130,000 - 220,000
100,000 - 200,000
40,000
26,717
144,111
195,000
134,000
195,000
100,000 - 200,000
170,000 - 220,000
N/A
145,400
167,500
145,000
N/A
N/A
134,000
175,000
145,000
N/A
N/A
108,000
100,000
130,000
N/A
150,000
153,800
154,500
150,000
134,000
155,000
ue
+
Re
ve
n
0
10
0
-1
-5
Pr
e-
51
5
00
0
1
0
0
-1
Companies
Reporting Position
2
1
2
0
-2
0
1
0
5
2
2
11
10
3
26
15
4
18
e
20
4
4
bl
2
5
ta
25
5
5
Pr
ofi
30
Responses by Stage
of Development
ue
Responses by
Industry
Re
ve
n
Total Responses
Low - High
Median
22,500
10,800 - 60,000
Mean
1.89
Low - High
Median
0.79
0.13 - 7.30
N/A
21,250
N/A
N/A
10,800 - 60,000
5.15
0.80
5.15
0.45
3.00
0.13
-
7.30
2.50
28,660
28,500
22,500
28,500
10,800 - 60,000
17,000 - 40,000
1.96
1.66
0.79
1.66
0.13
0.32
-
7.30
3.00
N/A
- 185,000
- 220,000
- 160,000
N/A
N/A
19,267
31,250
40,000
N/A
N/A
17,000
31,250
40,000
N/A
N/A
10,800
22,500
20,000
N/A
- N/A
- 30,000
- 40,000
- 60,000
- N/A
N/A
2.30
1.92
0.13
N/A
N/A
0.79
2.50
N/A
N/A
N/A
0.32
0.25
N/A
N/A
-
N/A
7.30
3.00
N/A
N/A
130,000 - 170,000
100,000 - 220,000
108,000 - 200,000
17,000
43,333
17,767
N/A
40,000
20,000
- N/A
N/A
30,000 - 60,000
10,800 - 22,500
3.81
0.99
1.75
3.81
0.42
1.75
0.32
0.13
1.00
-
7.30
3.00
2.50
12
VICE PRESIDENT OF BUSINESS DEVELOPMENT
Total Responses
Responses by
Industry
Responses by Number
of Employees
30
6
25
5
20
4
8
6
8
7
6
3
3
4
3
4
3
2
3
2
Salary ($)
Low - High
Median
170,000 125,000 - 225,000
Mean
57,397
180,000
172,653
N/A
167,500
N/A
N/A
125,000 - 225,000
20,000
60,513
147,778
211,191
140,000
215,250
125,000 - 180,000
190,000 - 225,000
N/A
175,917
175,000
166,667
172,215
N/A
175,000
165,000
140,000
190,000
N/A
125,000
135,000
140,000
125,000
169,500
184,206
153,750
170,000
190,822
145,000
Re
ve
n
27
e
bl
ue
+
Pr
e-
awarded in 2012
Mean
173,143
0
00
10
0
-1
-5
51
11
-2
5
0
0
-1
22
1
0
1
Percentage of
respondents eligible
for an annual bonus
All Respondents
Founder
Industry
Technology
Life Science
Number of Employees
1 to 10
11 to 25
26 to 50
51 to 100
100+
Pre-Revenue
Revenue
Profitable
2
0
ta
Life Science
Technology
Companies
Reporting Position
100
1
26
5
Pr
ofi
15
10
3
ue
9
5
Re
ve
n
6
15
0
Responses by Stage
of Development
Low - High
Median
55,048
20,000 - 100,000
Mean
1.29
N/A
57,524
N/A
N/A
25,000 - 100,000
4.00
1.05
N/A
0.90
N/A
0.19
-
N/A
5.00
57,786
56,943
60,000
52,730
20,000 - 100,000
42,000 - 85,000
1.89
0.46
1.00
0.48
0.20
0.19
-
5.00
0.90
N/A
217,000
225,000
220,000
201,644
N/A
42,040
63,524
67,333
68,970
N/A
37,500
63,524
60,000
66,500
N/A
20,000
55,048
42,000
50,411
-
N/A
85,000
72,000
100,000
90,000
N/A
2.01
0.62
0.55
0.55
N/A
1.06
0.62
0.55
0.55
N/A
0.48
0.23
0.20
0.19
-
N/A
5.00
1.00
0.90
0.90
125,000 - 213,500
125,000 - 225,000
135,000 - 190,000
40,100
57,494
65,875
40,100
55,048
69,250
37,500 - 42,700
20,000 - 90,000
25,000 - 100,000
0.87
1.10
2.60
1.00
0.90
2.60
0.48
0.20
0.19
-
1.12
4.00
5.00
-
Low - High
Median
0.90
0.19 - 5.00
13
VICE PRESIDENT OF SALES
Responses by Number
of Employees
3
2
10
Life Science
Technology
94
24
Salary ($)
Low - High
Median
150,000 60,000 - 300,000
Mean
67,000
125,333
172,536
126,000
160,000
110,000 - 140,000
60,000 - 300,000
94,000
64,750
137,083
229,300
137,000
240,000
60,000 - 225,000
155,000 - 300,000
60,000
129,667
192,000
154,000
191,625
N/A
134,000
165,000
133,000
187,500
N/A
100,000
120,000
110,000
150,000
155,000
164,650
165,000
N/A
142,000
157,500
ue
+
Re
ve
n
0
00
10
0
-1
Pr
e-
51
5
-5
0
awarded in 2012
Mean
164,206
1
0
1
All Respondents
Founder
Industry
Technology
Life Science
Number of Employees
1 to 10
11 to 25
26 to 50
51 to 100
100+
Pre-Revenue
Revenue
Profitable
0
-1
Companies
Reporting Position
2
1
11
0
6
4
1
5
6
3
12
e
12
17
15
8
4
bl
5
20
4
ta
4
10
Pr
ofi
25
10
5
ue
5
Responses by Stage
of Development
Re
ve
n
30
-2
Responses by
Industry
26
Total Responses
Low - High
Median
70,000
10,000 - 150,000
Mean
2.00
N/A
60,000
N/A
N/A
10,000 - 150,000
16.66
0.78
N/A
0.90
N/A
0.00
-
N/A
1.90
73,333
52,750
71,000
30,500
10,000 - 150,000
30,000 - 120,000
2.71
0.42
1.00
0.34
0.00
0.01
-
16.66
1.00
N/A
155,000
300,000
240,000
241,500
10,000
51,000
75,000
62,000
86,667
N/A
51,000
70,000
62,000
120,000
N/A
31,000
30,000
30,000
20,000
-
N/A
71,000
150,000
94,000
120,000
1.00
0.95
0.98
8.48
0.44
N/A
1.00
1.00
8.48
0.50
N/A
0.37
0.00
0.30
0.01
-
N/A
1.49
1.90
16.66
0.80
N/A
N/A
60,000 - 300,000
100,000 - 225,000
31,000
54,143
92,200
N/A
30,000
71,000
- N/A
N/A
10,000 - 120,000
50,000 - 150,000
0.37
2.84
0.73
N/A
1.00
0.51
N/A
0.30
0.00
-
N/A
16.66
1.90
-
Low - High
Median
1.00
0.00 - 16.66
14
VICE PRESIDENT OF MARKETING
Responses by Number
of Employees
4
3
88
0
Salary ($)
Low - High
Median
155,000 140,000 - 180,000
Mean
45,357
180,000
154,286
N/A
150,000
N/A
N/A
140,000 - 165,000
20,000
49,583
156,429
165,000
150,000
N/A
140,000 - 180,000
N/A
N/A
N/A
158,750
157,500
155,000
N/A
N/A
157,500
157,500
155,000
N/A
N/A
140,000
150,000
150,000
N/A
N/A
160,000
155,000
N/A
155,000
157,500
Re
ve
n
Pr
e-
awarded in 2012
Mean
157,500
ue
+
0
00
10
0
-1
-5
51
26
-2
5
0
0
-1
15
0
0
1
All Respondents
Founder
Industry
Technology
Life Science
Number of Employees
1 to 10
11 to 25
26 to 50
51 to 100
100+
Pre-Revenue
Revenue
Profitable
0
Life Science
Technology
Companies
Reporting Position
1
11
0
2
2
1
8
5
2
e
10
3
2
7
15
4
bl
1
20
4
ta
25
4
4
Pr
ofi
30
Responses by Stage
of Development
ue
Responses by
Industry
Re
ve
n
Total Responses
0
Low - High
Median
35,000
20,000 - 82,500
Mean
1.86
Low - High
Median
0.55
0.03 - 6.00
N/A
37,500
N/A
N/A
30,000 - 82,500
6.00
1.03
N/A
0.10
N/A
0.03
-
N/A
4.00
39,167
82,500
32,500
N/A
20,000 - 80,000
- N/A
N/A
2.23
0.03
1.00
N/A
0.04
N/A
-
6.00
N/A
N/A
- 180,000
- 165,000
- 160,000
N/A
N/A
43,125
35,000
55,000
N/A
N/A
35,000
N/A
55,000
N/A
N/A
20,000
N/A
30,000
N/A
- N/A
- 82,500
- N/A
- 80,000
- N/A
N/A
2.53
1.00
0.04
N/A
N/A
2.05
N/A
N/A
N/A
N/A
0.03
N/A
N/A
N/A
-
N/A
6.00
N/A
N/A
N/A
N/A
N/A
150,000 - 180,000
140,000 - 165,000
N/A
43,333
46,875
N/A
30,000
37,500
- N/A
N/A
20,000 - 80,000
30,000 - 82,500
N/A
1.78
2.01
N/A
0.55
2.01
N/A
0.04
0.03
-
N/A
6.00
4.00
15
VICE PRESIDENT OF HUMAN RESOURCES
Of the 47 responding companies, 25% outsource Human Resources functions.
Sixty-four percent reported HR functions being performed by another role within the company.
The below represents the 11% of responding companies employing an in-house HR professional.
Responses by
Industry
Responses by Number
of Employees
3
30
1
4
100
All Respondents
Founder
Industry
Technology
Life Science
Number of Employees
1 to 10
11 to 25
26 to 50
51 to 100
100+
Pre-Revenue
Revenue
Profitable
0
Salary ($)
Low - High
Median
140,000 110,000 - 239,300
Mean
31,758
N/A
159,560
N/A
140,000
N/A
N/A
110,000 - 239,300
N/A
31,758
132,500
166,325
N/A
158,000
N/A
N/A
110,000 - 239,300
N/A
140,000
132,500
143,000
239,300
N/A
N/A
N/A
143,000
N/A
N/A
N/A
N/A
110,000
N/A
140,000
175,100
132,500
N/A
176,000
N/A
1
Pr
e-
e
bl
ta
Pr
ofi
Re
ve
n
ue
ue
+
0
00
awarded in 2012
Mean
159,560
10
0
-1
0
-1
13
1
0
1
Percentage of
respondents eligible
for an annual bonus
1
1
0
Life Science
Technology
Companies
Reporting Position
1
51
5
1
11
5
1
5
10
3
2
2
-2
15
2
-5
20
3
26
25
0
Responses by Stage
of Development
Re
ve
n
Total Responses
60
Low - High
Median
20,000
14,000 - 71,790
Mean
0.63
Low - High
Median
0.63
0.50 - 0.76
N/A
20,000
- N/A
N/A
14,000 - 71,790
N/A
0.63
N/A
0.63
N/A
0.50
-
N/A
0.76
20,000
34,698
N/A
26,500
- N/A
N/A
14,000 - 71,790
0.50
0.70
N/A
0.70
N/A
0.63
-
N/A
0.76
N/A
N/A
N/A
- 176,000
N/A
N/A
14,000
20,000
26,500
71,790
N/A
N/A
N/A
26,500
N/A
N/A
N/A
N/A
20,000
N/A
- N/A
- N/A
- N/A
- 33,000
- N/A
N/A
0.63
0.50
0.76
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
-
N/A
N/A
N/A
N/A
N/A
N/A
N/A
110,000 - 239,300
N/A
N/A
14,000
41,597
20,000
N/A
33,000
N/A
- N/A
N/A
20,000 - 71,790
- N/A
N/A
0.63
0.76
0.50
N/A
N/A
N/A
N/A
N/A
N/A
-
N/A
N/A
N/A
16
CONTROLLER
Responses by Number
of Employees
11
10
6
9
4
10
4
6
4
3
2
70
13
All Respondents
Founder
Industry
Technology
Life Science
Number of Employees
1 to 10
11 to 25
26 to 50
51 to 100
100+
Pre-Revenue
Revenue
Profitable
+
0
00
0
10
-1
Pr
e-
51
5
-2
awarded in 2012
Mean
106,193
Salary ($)
Low - High
Median
100,000 69,000 - 169,000
Mean
24,348
100,000
106,502
N/A
99,000
N/A
N/A
69,000 - 169,000
N/A
24,348
N/A
20,000
N/A
8,787
99,450
112,322
92,500
118,000
70,000 - 155,000
69,000 - 169,000
22,208
25,953
69,000
104,208
99,250
118,250
117,724
N/A
98,000
93,500
119,000
127,500
N/A
78,000
70,000
80,000
90,000
N/A
169,000
140,000
155,000
135,671
109,500
108,619
95,000
100,000
105,000
90,000
69,000 - 169,000
70,000 - 155,000
80,000 - 120,000
-
4
0
0
1
-1
Companies
Reporting Position
4
3
1
0
-5
Life Science
Technology
11
0
26
5
e
21
15
13
12
bl
20
9
ta
8
Pr
ofi
25
15
ue
10
Re
ve
n
30
Responses by Stage
of Development
ue
Responses by
Industry
Re
ve
n
Total Responses
5
Low - High
Median
20,000
8,787 - 50,000
Mean
0.28
Low - High
Median
0.10
0.00 - 3.00
N/A
- 50,000
0.10
0.29
N/A
0.10
N/A
0.00
-
N/A
3.00
12,500
23,567
10,000 - 50,000
8,787 - 45,000
0.50
0.11
0.10
0.10
0.00
0.00
-
3.00
0.30
N/A
21,265
22,452
25,750
32,692
N/A
15,000
22,452
19,000
32,692
N/A
8,787
10,000
15,000
27,134
-
N/A
45,000
34,904
50,000
38,250
0.10
0.10
0.81
0.11
0.10
N/A
0.10
0.12
0.11
N/A
N/A
0.00
0.00
0.10
N/A
-
N/A
0.30
3.00
0.12
N/A
21,900
23,708
30,000
21,900
20,000
30,000
10,000 - 33,800
8,787 - 50,000
15,000 - 45,000
0.10
0.44
0.02
0.10
0.11
0.00
0.10
0.00
0.00
-
0.10
3.00
0.10
17
GENERAL EMPLOYEE POLICIES
Percentage of Companies Offering
96
Vacation / PTO Policy
Health Insurance Policy
87
401 (k) Policy
75
Dental Insurance
71
Flexible Work Schedule
69
Long-Term Disability
67
Life Insurance Policy
63
Bereavement Leave Policy
61
60
Short-Term Disability
47
Leave of Absence Policy
44
Section 125 Cafeteria Plan
Parental Leave Policy
43
0
10
20
30
40
50
60
70
80
90
100
Of the percentages of companies offering health and dental insurance, further details are listed below.
Employee Health Insurance
Amount of
Premium Covered
13%
50%
37%
All
Some
None
Employee Dental Insurance
Family Health Insurance
23% 22%
40
31
%
%
All
Some
None
All
Some
55
%
None
Family Dental Insurance
Amount of
Premium Covered
29%
Amount of
Premium Covered
35%
19
%
Amount of
Premium Covered
All
46%
Some
None
18
4
Salary Decrease
Sa
2013 Workforce Trend:
TRENDS AND
FORECASTS
Increase
in Workforce
25
%
No Change in Workforce
%
60
2013 Salary
15 Trend:
Salary
Hiring Freeze
%
2013 Salary Trend:
2013 Salary Trend:
2013 Salary Trend:
%
25
%
25
%
6%%2525% 65%%
6
65
%%
4
65% %
4%6 6%
65
%
4
4%
8
%
2%
15%
I
2014 Salary Forecast:
Reduction in Workforce
2%%
% 2014 Salary Forecast:
Salary Increase
Salary Increase
No Change
Salary
Increasein Salary
No Change in Salary
Salary Increase
Salary Freeze
No Change
Salary
Freezein Salary
No Change in Salary
SalaryFreeze
Decrease
Salary
Salary
Decrease
Salary Freeze
Salary Decrease
Salary Decrease
%
25
%
25
%
%
60
25
%
%
%
60
15
15% 25
%
60
%
%
15 %
60
15
2014 Workforce Foreca
14%
2
4%2%% 14
4
% %
14
% 2
4 % 14%
4
80%%
Bridge Financing
Workforce
Convertible Debt from Angels
75%
H
R
Salary Increase
Salary Increase
No Change
Salary
Increasein Salary
No Change in Salary
Salary Increase
Salary Freeze
No Change
Salary
Freezein Salary
No
Change in Salary
Salary Decrease
Salary Decrease
Freeze
Salary
Salary Freeze
Salary Decrease
Salary Decrease
80
80% %
80
11%
2014 Workforce Forecast:
2014
3%Workforce Forecast:
2014 Workforce Forecast:
30%Forecast:
% 2014 Workforce
15
15
8
8 15 %
15 75%
8
75%
8
2
75% %20
75
Increase in Workforce Debt from Banks
Increase in Workforce
%
No Change
in Workforce
%
Increase
in Workforce
%
Equity from Angels
No
Change
in Workforce
%
%
Hiring Freeze
%
No Change
%
Hiring
Freezein Workforce
Equity
from
Institutional
Investors
No
Change
in
Workforce
%
%
Hiring Freeze
Reduction
in Workforce
%
0
Hiring Freeze
2
2
2
N
30%
No Change in Workforce
Increase
in Workforce
No
Change
in Workforce
Increase
Hiring Freezein Workforce
No Change
Hiring
Freezein Workforce
No
Change
in Workforce
Reduction
in Workforce
Hiring40
Freeze
Reduction
in Workforce 60
Percentage
of Respondents
Hiring
Freeze
Employee-Initiated Exits
Employee-Initiated Exits in 2013
as Compared to 2012:
11%
11%
Bridge Financing
Bridge Financing
11%
Financing
3%
Convertible Bridge
Debt from
Angels
14%
Convertible Debt from
BridgeAngels
Financing 3% 11%
3%
%
Convertible Debt
Debtfrom
fromAngels
Banks
3%
DebtDebt
fromfrom
Banks
Convertible
Angels
Decreased
16
370
%
30%
30% Consistent
30%
30% Increased
30% 30%
Debt from
Equity
fromBanks
Angels
Equity from
Debt Angels
from Banks
Equity fromInvestors
Angels
Equity from Institutional
Equity from Institutional
EquityInvestors
from Angels
Equity from Institutional Investors 0 0
Equity from Institutional Investors
0
20
20
0
20
30%
30%
20
© 2013 Hutchison PLLC and Carlyle Conlan. All
Use of Counter-Offers in Resp
Anticipated
Fundrai
Notice Anticipated
of
Employee-Initiated
Fundraisi
Efforts for 2014
Efforts for
2014
Anticipated
Fundrais
# of responses
Anticipated
Fund
Efforts
for
2014
# of responses
37
Efforts
37 for 20
# of responses
# of responses
37
37
40%
60%
73%
73%
40
60
40Percentage of Respondents
60
Percentage
of Respondents
40
60
80
73%
80
73%
40 of Respondents 60
Percentage
rights
reserved.
Percentage of Respondents
80
1980
YEAR-OVER-YEAR CASH COMPENSATION COMPARISON
4
22
8
20
13
20
17
7
5
21
3
20
200
16
8
17
1
17
17
1
2
19
5
0
250
7
8
0
Chief Operating Officer
250
17
10
50
Chief Financial Officer
18
4
9
93
100
96
10
Bonus data in 2010, 2011 and 2012 represents
average bonus actually awarded. Bonus data in
2009 represents average maximum possible bonus
for those eligible.
76
65
60
60
58
50
38
54
100
100
76
150
150
50
22
200
150
Average salary earned per year
200
21
9
250
20
2010 salary data not available. Reference point
reflects an average of salaries earned in 2009 and
2011.
7
Chief Executive Officer
0
20
20
13
13
0
26
2
250
Chief Medical Officer
25
5
Chief Technology/Scientific Officer
66
58
135
56
15
6
15
92 2
180
90
CSO
58
45
38
54
50
17
4
7
16
19
15
60
CTO
51
65
100
225
CSO
CTO
6
16
7
150
18
8
17
200
5
1
23
3
270
0
13
20
20
13
0
20
YEAR-OVER-YEAR CASH COMPENSATION COMPARISON
29
50
20
Vice President Sales
Vice President Marketing
3
250
8
15
15
45
5
15
41
6
3
15
43
15
16
0
4
7
200
16
17
1
17
0
23
200
2
150
100
50
50
41
67
100
84
94
17
0
13
0
20
13
20
150
3
20
13
13
0
0
250
17
17
1
16
57
62
63
3
4
45
100
35
100
36
150
45
150
50
16
3
15
16
15
15
15
1
200
7
200
4
250
0
250
9
Vice President Business Development
16
Vice President Engineering
Controller
Vice President Human Resources
250
200
200
100
0
93
24
10
99
26
50
32
38
13
20
1
3
0
20
50
37
100
27
6
1
12
150
63
150
16
14
5
7
13
15
3
0
250
21
SALARY IN RELATION TO TOTAL EQUITY FINANCING
FOR SELECT C-LEVEL POSITIONS
Chief
Executive
OfficerOfficer
Chief
Executive
600
550
Salary (thousands of dollars)
500
475
400 32
26 330
323
447
350
300
275
225
200
155
250
8 180
100
Salary (in thousands of dollars)
Mean
Median
Low - High
0.5 - 10
182
180
0
- 550
11 - 20
227
205
155 - 330
21 - 30
268
300
180 - 323
31 - 40
275
250
225 - 350
41 - 50
375
375
275 - 475
51+
312
300
250 - 447
Mean/median data represents only those eligible.
0
0
Total Equity
Financing in
Millions of Dollars
Chief
OfficerOfficer
ChiefFinancial
Financial
350
313
300
250
260
225
32
200
26 180
175
150
0
190
130
100
50
300
8
193
Total Equity
Financing in
Millions of Dollars
Mean
Median
Low - High
- 260
0.5 - 10
137
130
50
11 - 20
158
163
130 - 180
21 - 30
224
N/A
N/A - N/A
31 - 40
208
208
190 - 225
41 - 50
244
244
175 - 313
51+
243
240
193 - 300
50
22
SALARY IN RELATION TO TOTAL EQUITY FINANCING
FOR SELECT C-LEVEL POSITIONS
Chief
OfficerOfficer
ChiefOperating
Operating
250
231
215
200
200
212
200
190
32
165
150
100
Total Equity
Financing in
Millions of Dollars
26
120
8
Mean
Median
Low - High
0.5 - 10
150
135
120 - 215
11 - 20
198
198
165 - 231
21 - 30
220
N/A
N/A - N/A
31 - 40
195
195
190 - 200
41 - 50
N/A
N/A
N/A - N/A
51+
206
206
200 - 212
50
0
Chief Technology Officer
Chief Technology Officer
300
250
258
235
230
220
200 32
200
210
26
150
130
100
8
50
0
Total Equity
Financing in
Millions of Dollars
Mean
Median
Low - High
- 235
0.5 - 10
132
130
20
11 - 20
175
165
130 - 230
21 - 30
N/A
N/A
N/A - N/A
31 - 40
210
210
200 - 220
41 - 50
234
234
210 - 258
51+
N/A
N/A
N/A - N/A
20
23
BOARD OF DIRECTORS
Total Responses
Responses by
Industry
Responses by Number
of Employees
20
70
30
18
60
15
50
50
40
28
30
22
Responses by Stage
of Development
25
15
26
20
10
15
17
10
5
6
5
0
7
5
e
Pr
ofi
ta
bl
ue
Pr
e-
Re
ve
n
ue
+
0
00
10
0
-1
51
5
26
1
-5
0
0
-1
Companies
Reporting
11
0
Life Science
Technology
-2
10
6
Re
ve
n
20
Information graphed above represents the Board of Directors generally. 32 of the 50 (64%) respondents also reported having
Independent Directors. See the chart below for further information regarding Independent Directors.
64
Percentage of companies
with independent directors
serving on the Board
All Respondents
Industry
Technology
Life Science
Number of Employees
1 to 10
11 to 25
26 to 50
51 to 100
100+
Pre-Revenue
Revenue
Profitable
Responses
50
83
Percentage of companies with the
following Board committees:
with Board members that
are reimbursed for their
travel expenses
Directors (#)
Low - High
Mean
N/A
N/A
N/A
Audit: 58
Compensation: 60
Nominating & Corporate Governance: 20
Responses
32
Independent Directors (#)
Low - High
Mean
N/A
N/A
N/A
22
28
4.4
5.4
2.0
1.0
-
7.0
9.0
12
20
2.0
2.1
1.0
1.0
-
6.0
7.0
15
18
6
6
5
4.1
5.1
5.5
5.2
6.4
1.0
2.0
3.0
4.0
5.0
-
7.0
7.0
8.0
9.0
9.0
8
11
5
3
5
1.5
2.0
2.4
2.0
2.6
1.0
1.0
1.0
1.0
1.0
-
3.0
4.0
7.0
3.0
6.0
17
26
7
4.4
5.3
5.1
1.0
2.0
4.0
-
7.0
9.0
6.0
10
16
6
1.9
2.3
1.7
1.0
1.0
1.0
-
4.0
7.0
3.0
24
BOARD OF ADVISORS
Responses by
Industry
10
30
25
5
44
5
6
4
3
4
2
44
Responses
16
1
Percentage of companies that
award fully-diluted equity to
independent advisors for their
annual service
Advisors (#)
Mean
4.4
1
86
e
bl
ta
Pr
ofi
ue
Re
ve
n
ue
0
+
0
10
-1
0
00
1
51
5
26
-5
0
1
Percentage of companies that
award cash compensation to
independent advisors for their
annual service
All Respondents
Industry
Technology
Life Science
Number of Employees
1 to 10
11 to 25
26 to 50
51 to 100
100+
Pre-Revenue
Revenue
Profitable
0
-2
Technology
0
1
-1
Life Science
Re
ve
n
2
Companies
Reporting
7
6
4
5
0
8
7
11
10
11
16
Responses by Stage
of Development
8
10
8
20
15
Responses by Number
of Employees
Pr
e-
Total Responses
with advisors that are
reimbursed for their travel
expenses
0.0
Low - High
-
10.0
5
11
4.4
4.5
0.0
0.0
-
9.0
10.0
10
4
1
0
1
3.7
5.8
4.0
N/A
7.0
0.0
0.0
N/A
N/A
N/A
-
7.0
10.0
N/A
N/A
N/A
8
7
1
3.0
6.1
4.0
0.0
4.0
N/A
-
7.0
10.0
N/A
25
5
75%
Hiring Freeze
FUNDRAISING
Anticipated Fundraising
Efforts for 2014
11%
Bridge Financing
# of responses
37
3%
Convertible Debt from Angels
Debt from Banks
30%
Equity from Angels
30%
73%
Equity from Institutional Investors
0
20
40
60
Percentage of Respondents
80
100
Average total dollars anticipated from 2014 Fundraising Efforts
Employee-Initiated Exits in 2013
as Compared to 2012:
14%
370
Notice of Employee-Initiated Exit:
16
Range of Decreased
total dollars anticipated from 2014 Fundraising Efforts
%
%
$8,763,158
Use of Counter-Offers in Response to
Do Not Use
40
%
$500,000 -60$25,000,000
Consistent
%
Use
Increased
Median total dollars anticipated from 2014 Fundraising Efforts
$5,000,000
26
ABOUT HUTCHISON PLLC
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U.S. News - Best Lawyers® 2014 “Best Law Firms”
Hutchison PLLC provides business and intellectual property
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1
Hutchison PLLC’s ranking among
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Source: VentureSource
About Our Employment Law Practice
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and providing advice and counsel on personnel matters,
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ADA compliance, workplace discrimination laws, wage laws, and
Section 409A.
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Number of M&A transactions closed
by Hutchison PLLC from 2003-2013
150+
Number of venture capital
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PLLC from 2008-2013
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For more information, visit hutchlaw.com
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29

Hutchison Guide to Compensation

Transcription

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