Read the original at Lenny’s Newsletter ↗lennysnewsletter.com · subscriber post
By Lenny Rachitsky · lennysnewsletter.com · @lennysan on X · YouTube · LinkedIn
Lenny Rachitsky reports first results from a compensation survey of about 5,000 newsletter readers, finding that 75% prioritize salary over equity during negotiations. The post argues this reflects a desire for stability after inflation and layoffs, with rising living costs and skepticism about equity returns. It also breaks down which demographic and company factors predict equity preference and offers advice for job seekers and founders.
Subscriber post — summary only01Key takeaways
- Three quarters of surveyed professionals prioritized salary over equity when negotiating offers.
- Stability and predictable cash flow matter more after recent inflation, layoffs, and economic uncertainty.
- Equity preference varies by gender, seniority, location, years of experience, and company stage.
- Negotiating a strong base salary can compound through bonuses, raises, and future negotiations.
- Founders may need a strong salary paired with a credible path to liquidity to attract talent.
“Cash is king.”Survey respondent (quoted) · Lenny’s Newsletter
“Equity doesn't pay rent,”PM at a series B startup (quoted) · Lenny’s Newsletter
Summary and takeaways written by PM Atlas; quotes are short excerpts. © the original author.