What changes when you join at pre-seed
A pre-seed company is usually still finding out whether the problem it chose is worth solving. There may be a prototype, a handful of design partners or only the founders’ conviction. The money typically comes from angels, accelerators or small funds, often on SAFEs rather than a priced round, and it is meant to buy enough time to reach evidence a seed investor would back. You join before most of the decisions are made, including some about what the company sells.
What “founding” means this early
At pre-seed you may be the first or second hire, sometimes the first person who isn’t a founder. The role is usually broad: an engineer may also handle support and infrastructure, and a first commercial hire may run sales, marketing and customer research at once. Titles matter less than what you will own, which decisions you can make without the founders, and whether your role is defined at all yet. If the founders describe you as close to a co-founder, read founding employee vs co-founder and check that the ownership and rights in the offer match the description.
What to look at before you apply
- The founders: what they have built or sold before, how long they have worked together, and how they split decisions.
- What has been validated: paying or committed customers, usage, letters of intent, or only interviews so far. Ask what they learned that changed the plan.
- Runway: how many months the current money covers at the planned team size, and what has to be true before the next raise.
- Your first months: the specific problem you would own, and how the founders will judge whether it worked.
How equity works at pre-seed
Early grants are the largest percentages a non-founder usually sees, because the risk is highest. The FoundingHunt Benchmark puts founding engineers at 0.5% to 2% at pre-seed, with most other roles lower; see how much equity to ask for for other roles and how hire number changes the number. It is an estimate, not an employer offer.
The paperwork is often less settled than at later stages. Check three things:
- SAFEs that haven’t converted. Money raised on a SAFE or convertible note usually turns into shares at the next priced round, which dilutes everyone holding equity, including you. Ask for your percentage on a fully diluted basis that counts outstanding SAFEs.
- The option plan. Some companies haven’t adopted an equity plan or created an option pool yet. Ask when the board will approve your grant and get the share count in writing.
- Strike price and vesting. A company with no 409A valuation yet should explain how your strike price will be set. Ask whether early exercise is allowed, and read understanding vesting and cliffs before you sign.
Compare salary and equity using current evidence
Pre-seed salaries are often below market, and some companies propose deferring part of your pay until they raise. Start with the compensation shown on each current listing rather than assuming a typical pre-seed package. Verified Equity is an employer-disclosed numeric range. Estimated Equity is a FoundingHunt Benchmark: an estimate by role and stage, not an employer offer. Work out the lowest salary you can accept for at least a year, then use the Offer Comparator and Equity Calculator to see what you are trading for the equity.
Before you apply
- Ask what the founders have validated so far and what they will test next with this round’s money.
- Confirm the runway in months and the milestone the next raise depends on.
- Ask which hire you would be, what you would own, and what the founders will keep doing themselves.
- Get the share count, fully diluted shares including SAFEs, strike price, vesting and board approval timing in writing.
- If any pay is deferred, confirm the amount, when it is paid and what happens if the company doesn’t raise.