Why Mixing Private & Public Compensation Data Doesn’t Cut It

One time is random. Twice is a pattern.

I got off the phone with a biotech VC today who was genuinely trying to understand why Thelander doesn’t mix public and private company compensation data together for the private company dataset. This question has come up enough that we’re putting our answer on the record.

1. Public and private companies have fundamentally different compensation levers.
Private companies have a unique compensation lever that isn’t available to public companies: equity.

2. Private company total cash and equity compensation varies by financing stage.
How much capital a company has raised matters, especially when it comes to getting the mix of cash and equity right. Even series is tricky because rounds are varying widely.

3. “Aren’t your numbers lower?” Our numbers aren’t lower because we exclude public companies. They’re more accurate.
Thelander only surveys private companies, so it’s an apples to apples comparison. Private company comp looks different from public company comp because of the equity. That’s the point.

If you’ve ever wondered the same thing, this is your answer. Interested in learning more or seeing the Thelander platform for yourself? Schedule a free demo here.

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This post was written by jthelander