This is perfect timing. Can someone offer me advice? I'm young.
I'm in the process of negotiating to join a biotech startup in the Bay Area. I am a graduating undergraduate student, and interned with the startup team previously when they were working in research at BigCo. They left, licensed their own hardware patents from BigCo, and are starting up. They are asked me to join them in return for housing reimbursement, a meager living allowance, and an uncertain amount of equity.
I know it depends on how much risk I am willing to shoulder, but what would be reasonable terms for salary and equity, considering I'm a fresh grad?
They would bring me on as an early engineering hire, and they are currently bootstrapping from savings while working on the product and courting angels. Series A would certainly be far off. The founders have solid connections, and have brought in an experienced woman to act as CEO/advisor until they have funding. She was previously the CEO of a well-regarded company in the same space.
The equity would be in the form of RSU, and salary would increase after angel funding, and to market rate later on or with Series A. The personalities of the founders are great, and I believe in the product.
I don't have an employment history, but I interned at well-known research institutions each summer, later at BigCo, and attended (private) school on a full merit scholarship. My skill set extends beyond software to several other areas (that would, if mentioned, make it possible to identify me). I'm wet behind the ears, but capable.
I also have a regular "corporate" offer elsewhere, at a salary comparable to a low-end Bay Area market salary.