joining as a CTO but want to keep existing job, expectations


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I have been approached by a previous co-worker to become a CTO for a startup that they are creating. Its in the very early stage (company hasn't even been formally formed yet but there is a willing investor already). Its still far from being a "real" company and I'm just using my free time to work out a prototype.

I am currently working as a programmer and have zero experience on being a CTO. The CEO has described what my role would be and I'm confident I can do the job, however, I have a few concerns. We'll be having another meeting this weekend and I'm doing a bit of research.

  • Legally speaking, do I have to leave my other job to take on this position? I work for a financial instution in Singapore.
  • If I do, is it expected that I will take a pay cut since I'm joining very early on?
  • What is the reasonably salary/equity for a CTO joining this early on?

EDIT:
might I also add that this is a software startup. The CTO is just a fancy title, its more like lead developer.

CTO

asked Nov 8 '13 at 21:36
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Mel
101 points
  • You need to check your current employment contract and/or prevailing local laws, to ascertain whether it is okay to have an extra job. Pay and conditions is up to you to negotiate, as it is for any job. – Steve Jones 4 years ago
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