The Founder’s Guide to Talent, Capital & Compensation

A strong startup compensation strategy isn’t just a financing exercise — it’s how founders attract the leaders who turn science into value. In this webinar, J. Thelander Consulting founder and CEO Jody Thelander was joined by Chris Garabedian, Joanna & Ellen of JM Search, who co-lead the firm’s biopharma practice, to discuss how founders, boards, and investors structure equity and cash across every stage of growth.

Key Takeaways

• The cap table is a talent strategy, not just a financing tool. In early-stage biotech, cash alone rarely wins the best leaders — equity is what lets founders attract experienced talent who could command more elsewhere.
• Build the option pool before you need it. The pool has to support the hiring plan, typically running 8–15%. A well-planned pool keeps every critical hire from becoming a fresh negotiation with the board and cap table.
• Plan for dilution, and set expectations up front. Founders and key hires will be diluted; refresh grants are the lever to keep them incentivized. Getting the number right early makes those refreshes manageable.

Want to see how your company’s compensation compares to real-time market data? Participate in the no-cost Thelander Private Company Compensation Survey today — the more you give, the more you get.

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This post was written by jthelander