Startups face challenges in competing with big tech companies over salaries. However, experts suggest that startups can still attract talent by offering fair and generous compensation packages. Founders advise startups to focus on equity and accountability in compensation strategies to ensure success and avoid legal issues as they grow.

Yin Wu, CEO of Pulley, emphasizes the importance of being charitable with equity at startups, as success hinges on the team’s dedication. Panelists stress the need for clear goals and accountability in compensation packages to align incentives and prevent underperformance issues.

Companies are urged to establish fair compensation and equity standards early on to avoid legal and ethical pitfalls. By setting clear frameworks around pay and equity, startups can grow sustainably and adjust their approach as needed without risking legal trouble or unfair practices.

Experts agree that founders should prioritize fair intentions when developing compensation packages. It is crucial to focus on incentivizing potential hires effectively rather than trying to perfect compensation strategies from the beginning. Adjustments and corrections can be made post-Series B to ensure long-term success.

Read more at Yahoo Finance: How startups can lure good talent fairly without big tech bank accounts