The average salary in startups has increased by 5% year-over-year.

Carta’s State of Startup Compensation is essential reading.

Here are some highlights...

Salary
Average salaries increased by 0.5% from January to April 2024, indicating a period of stabilization rather than growth.

Equity
Equity percentages held steady from January to April 2024, marking a significant recovery from the sharp declines in 2023.

Remote Work
In-state hires rose across all company sizes at the start of 2024, though remote hiring remains strong.

Compensation by City
Startup pay in 41 of 54 major US markets moved closer to San Francisco’s top rates, with notable gains in Columbus and Cincinnati.

Hiring
Startups approached hiring cautiously in early 2024, with net headcount on Carta decreasing in 4 out of the first 5 months.

Layoffs
May 2024 saw 7,305 startup employees laid off, an improvement from the 11,305 laid off in May 2023.

Attrition
High turnover was noted in recent hire cohorts, with nearly 25% of employees hired in 2022 leaving within their first year.