A few details: the company has raised a seed round (few hundred thousand) and I'll be employee #4 (2 co-founders). There's an existing codebase as well. So in many ways it's similar to joining Xobni & co. at their maturity.

The offer: 1% equity and below market level salary (at best 70% of what I can get at a 'normal' job).

So my question is obviously: is this fair? I know the equity is fair, maybe even a bit generous, but what of the salary?

I'll be getting about the same as the co-founders. Should I hold out for a bit more? I'm not expecting them to rise to market-level since they're a startup and all, but figure something close would be reasonable.

P.S: I'm a developer.