I have relatively little experience with recruiting, determining compensation and hiring for startups since this is my first go at it. My approach is that there isn't a single right answer on valuing people. But that said, I am struggling a little bit with something and looking for some input from the wisdom of the crowd. I'm specifically getting stuck on how to value a Project Manager.
I am very much committed to building out a team here that is Agile in as many respects as it can be, and one of the ways I think you achieve that is with talented scrum masters and project managers that respect the developers and their process.
The caveat being that, as a startup with limited cash, I feel very conflicted about how to value the non-developers on my technical team. I'm just not sure how much I'm supposed to value them. I have an equity pool carved out, and my top 2 developers will probably take half of the equity pool reserved for my team. I was thinking of setting aside about 5% of the total technical team pool for a PM, so that would be valued at 1/5th of the equity that the top developers are getting. Furthermore, I wasn't sure whether it made sense to offer the same salary or 85% of what the developers make.
I guess what I'm trying to get at is am I myself underappreciating the role of PM--especially if I'm genuinely committed to doing things Agile? Should I just value the PM the same as the top 2 developers and potentially have to hire one or two less developers as a result?
I'm having trouble valuing the PM higher or on par with the developers, but at the same time, that seems to contradict my fundamental belief that the role they serve towards the developers makes your developers more productive and responsive.
Does anyone have some rules of thumb on how to structure an Agile team from a compensation perspective?