Working for a start up- getting paid

Hi,
I was approached to take a part time position managing a department within a start up due to launch early next year. I am still currently employed full time. Before launch, it would be my responsibility to ensure that the company is legally/professionally compliant , hire staff and to devise procedures/operations manuals etc.I would say that I would currently have to devote at least 10 hours per week to this .The qualifications/expertise that I'm bringing to the company are essential in order to ensure that it will be legally compliant when it starts trading.

I'm just wondering what the norm is re: getting paid for work in a company that hasn't yet launched ?
Should I be billing the company for my services, looking for a salary for 10 hrs per week or is it usual to go for delayed compensation or shares when the company starts trading. I don't want to end up putting in lots of effort for nothing. I havent yet received my contract.

Sorry for long winded post but I've only ever been an employee in established companies up until now .

Thank you.

'

You should not take a job in this or any company unless they agree to pay you an agreed salary and they actually do so.

Pollyanna said:

... I havent yet received my contract ...

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I agree with ubiquitous, been there, done that, all I got was the tee-shirt!

Get your terms for the start-up work and payment for same written into the contract. Just be careful there is no conflict of interest in having paid employment outside of your current full-time job.

mathepac said:

I agree with ubiquitous, been there, done that, all I got was the tee-shirt!

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Can we take it the t-shirt wasn't diamond encrusted?

rmelly said:

Can we take it the t-shirt wasn't diamond encrusted?

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It was encrusted all right, but not with anything as valuable as diamonds.