Inc.

SET YOUR OWN SALARY

How to know when you deserve a raise—and when you need a pay cut

VICTORIA FINKLE

WHEN ELIZABETH SOPHER and Caroline Portis decided to commit full time to their Denver-based bedding business, QuickZip, they knew pay cuts were in order. As established professionals in their 50s—Sopher was an environmental scientist and Portis was a chief financial officer for a large company—they settled on salaries of $125,000 each.

But eight months later, when they joined the MergeLane accelerator for women-led businesses in February 2015, they realized their salaries were way too high. As MergeLane CEO Sue Heilbronner told the founders, “You should be paying yourself enough that you can get by, but not enough that you’re not freaking out—it’s this balance,” recalls Portis.

Since then, the

You're reading a preview, sign up to read more.

More from Inc.

Inc.3 min read
Going Global A Founder’s Big Bet
LEIGH BUCHANAN BY 2013, EYAL LEVY HAD SPENT four years building Nashua, New Hampshire–based Yogibo into a successful fun-and-friendly lifestyle brand centered on its body-hugging beanbag chairs. The Japanese market tempted him. How could he expand t
Inc.2 min readEntrepreneurship
Cynthia Rowley
Though her name is synonymous with fashion design, her work now ranges from developing office supplies to supporting new entrepreneurs
Inc.7 min readTech
They Had Game-Changing Ideas. They Took on Entrenched Industries. They Persisted
POLINA RAYGORODSKAYA WANDERU Designing a high-tech solution for a thorny problem: making bus and train travel as effortless as flying HAVING THREE DISTINCT CAREERS by the time you’re 25 sounds ridiculous, unless you’ve been reinventing yourself si