Comments on: What is it called when employees of a startup choose not to be paid? http://www.biznewsvine.org/what-is-it-called-when-employees-of-a-startup-choose-not-to-be-paid/ Thu, 15 Sep 2011 00:02:34 +0000 hourly 1 By: sbinlb http://www.biznewsvine.org/what-is-it-called-when-employees-of-a-startup-choose-not-to-be-paid/comment-page-1/#comment-104 sbinlb Sun, 22 Nov 2009 21:20:38 +0000 http://www.biznewsvine.org/what-is-it-called-when-employees-of-a-startup-choose-not-to-be-paid/#comment-104 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. 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.

]]> By: Stifle http://www.biznewsvine.org/what-is-it-called-when-employees-of-a-startup-choose-not-to-be-paid/comment-page-1/#comment-105 Stifle Sun, 22 Nov 2009 21:20:38 +0000 http://www.biznewsvine.org/what-is-it-called-when-employees-of-a-startup-choose-not-to-be-paid/#comment-105 Uh... volunteering? Uh… volunteering?

]]> By: skeptical http://www.biznewsvine.org/what-is-it-called-when-employees-of-a-startup-choose-not-to-be-paid/comment-page-1/#comment-106 skeptical Sun, 22 Nov 2009 21:20:38 +0000 http://www.biznewsvine.org/what-is-it-called-when-employees-of-a-startup-choose-not-to-be-paid/#comment-106 I'd call it "stupid". I’d call it "stupid".

]]> By: Mark G http://www.biznewsvine.org/what-is-it-called-when-employees-of-a-startup-choose-not-to-be-paid/comment-page-1/#comment-107 Mark G Sun, 22 Nov 2009 21:20:38 +0000 http://www.biznewsvine.org/what-is-it-called-when-employees-of-a-startup-choose-not-to-be-paid/#comment-107 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 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

]]> By: trshcoleman http://www.biznewsvine.org/what-is-it-called-when-employees-of-a-startup-choose-not-to-be-paid/comment-page-1/#comment-108 trshcoleman Sun, 22 Nov 2009 21:20:38 +0000 http://www.biznewsvine.org/what-is-it-called-when-employees-of-a-startup-choose-not-to-be-paid/#comment-108 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. 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.

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