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The salaries of French Tech bosses are on the rise

2022-01-07T16:21:25.402Z


According to the think tank responsible for the study, this increase is explained by "the shock of the Covid" and the explosion in the amounts of fundraising.


The Covid-19 pandemic was surely not experienced the same way by everyone.

It even benefited some.

The remuneration of the founding directors of young French Tech startups has jumped on average by 30% since 2019, revealed Friday a study by The Galion Project, an interest group of entrepreneurs in the sector.

According to this study, which is based on 192 companies, the median gross annual salary of the founders amounts to 120,000 euros, and their increase is explained by "the shock of the Covid largely beneficial for the vast majority" of technology companies, and the explosion in fundraising amounts.

Read also CES Innovation Awards: in Las Vegas, French Tech in quiet force mode

According to Jean-Baptiste Rudelle, co-founder of the former flagship of the French Tech Criteo and president of The Galion Project, this increase is normal and even constitutes a "catching-up" because "the salaries of the founders were rather 30, even 40% in below their value in the labor market.

"At one point, their salary level will exceed that which they could obtain as an executive manager in a large company," he said in particular to Les Échos.

A quarter of the founders receive annual fixed compensation above 153,000 euros, which has increased by 17% since 2019.

“The dispersion of salaries has therefore been reduced a little between the highest salaries and those of the majority of the founders”, underlines The Galion Project.

Women less well off

In addition to this fixed compensation, “less than half of the respondents” in the study have a variable portion paid according to the performance achieved by the company, and which contributes to raising the median gross compensation to 130,000 euros.

The founders of start-ups generally count on the increase in the valuation of their shares and the gains from stock options.

But the study also reveals that "the salary gap between founders and founders is very significant with a median salary lower than 33% for women".

The situation has deteriorated since 2019 when the gap was 28%.

"The very clear difference observed is strongly linked to the amounts raised", lower among the founders than among the founders, justifies the study.

But this factor alone is not sufficient to explain why the increase in recent years has "benefited men much more than women", admits the think tank.

Source: leparis

All news articles on 2022-01-07

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