What is it called when employees of a startup choose not to be paid?
The employees of a startup decide not to get paid until the business takes off – "The employees are working ???????" How would you say that?
I considered adding to my explanation to refrain from using "I’d call it stupid" as an answer but thought no one would be dumb or immature enough to use that extremely, hackneyed and antiquated response.
I guess there’s at least one of every type of person on the internet after all; Congrats, Skeptical, you’re special.
Whatever you call it, you need to get it in writing!!
volunteering? internship? pro bono?
They expect to be compensated for this time in the future? What’s the pay – part ownership in the company (stock) ? A bonus? Higher wage later on?
You also need to confirm this is even legal under your state’s wage & hour laws. Unless they are part owners, some kind of volunteer/apprenticeship program or pro bono professional work, I highly suspect it is illegal since the employee’s wouldn’t be earning minimum wage.
Uh… volunteering?
I’d call it "stupid".
Pro Bono means done without compensation for the public good. Lawyers use this term to mean that they work for free on their clients behalf.
I suppose that you could apply pro bono to a worker doing a job for free. Another term meaning free is gratis, so workers could be doing the job for gratis.
If the wages are going to given to the worker at a later time after the money from the business comes in you might call it deferred compensation
It’s commonly referred to as sweat equity, but there is another term used too. I can’t think off right now, but I’ll look it up and post that answer as well.