I intellectually really like these experiments, but one of the things virtually every startup advisor tells you is "only innovate when and where you must" -- basic things like how you do accounting, offices, etc. should be standard, so you don't screw them up, so you don't think about them too much, etc. Big companies with spare resources can afford to experiment on non-core things, and a 0.1% improvement in A/R efficiency
would be material to GE, but not to a $150k/yr revenue startup.
There is an argument that hiring is one of the "core" things for startups, and it is hard to do, so innovation might be warranted. Something like this experiment in setting salaries is only good if it makes recruiting/retaining/utilizing more effective. If you're doing it for any other reason, you probably have the wrong priorities. (The other part of this, paying everyone the same, actually does make a lot of sense in early stage startups, too.)
I think bringing people into the organization is probably harder than retaining them, though. (at least for the first year or two) I'd personally be more inclined to experiment with "set your own referral bonus" rather than "set your own salary". (I think in SFBA right now, for engineers, that number should be USD 20k. USD 10k might be justifiable. In a lot of cases, people like gifts more than the equivalent amount of money, so maybe USD 10k + USD 10k in travel/gifts/etc. Charity donations might also be valued more than money in some cases.)
There is an argument that hiring is one of the "core" things for startups, and it is hard to do, so innovation might be warranted. Something like this experiment in setting salaries is only good if it makes recruiting/retaining/utilizing more effective. If you're doing it for any other reason, you probably have the wrong priorities. (The other part of this, paying everyone the same, actually does make a lot of sense in early stage startups, too.)
I think bringing people into the organization is probably harder than retaining them, though. (at least for the first year or two) I'd personally be more inclined to experiment with "set your own referral bonus" rather than "set your own salary". (I think in SFBA right now, for engineers, that number should be USD 20k. USD 10k might be justifiable. In a lot of cases, people like gifts more than the equivalent amount of money, so maybe USD 10k + USD 10k in travel/gifts/etc. Charity donations might also be valued more than money in some cases.)