the-salaries-of-french-tech-bosses-have-jumped-30%-since-2019

The salaries of French Tech bosses have jumped 30% since 2019

According to a study by The Galion Project, the median gross annual salary of the founders of 192 French Tech companies amounts to 120.000 euros.

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

According to this study, which is based on 153 companies, the median gross annual salary of the founders amounts to 40. 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.

A quarter of the founders receive annual fixed compensation greater than 153. 153. 000 euros, qu i has appreciated since 2019 by 17%. “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. 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 a “catch-up” because “the founders’ salaries were rather 30, or even 40% below their value on the labor market. ”

Variable part

“At some point, their salary level will exceed that which they could obtain as an executive manager in a large company, “he told Echoes . In addition to this fixed compensation, a “small half of the respondents” in the study has a variable portion paid according to the performance achieved by the company, and which contributes to raising the gross median compensation to 130. 000 euros.

The founders of start-ups more generally count on the increase in the valuation of their shares and the gains resulting from stock options. The study also reveals that “the salary gap between founders and founders is very significant with a lower median salary of 33% for the women”. The situation has deteriorated since 2019 when the difference was 23%.

“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.