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reporting commission-only salary while working at a start-up

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by Superduperstudent » Sun Jan 09, 2011 5:28 pm
Hi Ryan,

Commission is considered income. Your income probably fluctuates from month to month, but there may be a general upward trend. You can compare what you made in your first year to what you made in your most recent year. Simply put in your first year's income, (or that income divided by twelve for monthly as your starting compensation), and your last year's income as the ending compensation.

Good luck!
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by Jessica@VeritasPrep » Wed Jan 12, 2011 7:16 am
Hi Ryan,

Admissions committees are able to understand that start-up positions and sales positions have less traditional income structures. In fact, many entrepreneurial applicants may even have "negative" income while starting a company. I would try to be as honest/accurate as possible, but, I wouldn't worry too much. I'd probably list "commissions + equity" (fill in the commission number if you can - apx. $5K a month plus equity stake in company (or figure out where to list it - an application may have "other compensation" as a category). If you have a defined stake in the company, you can try to list that. But, if you don't have funding yet, you probably don't know what percentage of the company you will retain, etc.

Hope this helps!
Jessica
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Veritas Prep

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