I'm in a VC-owned business with a 50% profit ebitda. But a common trick is to just load it with debt. The VC firm pays out all profits as dividends, all investments into restructuring, M&A and new technology is paid for by high-interest loans from the shareholder. What's left is a company that barely cashflows as all profit goes towards paying interest to the VC firm.
The appointed management team has to operate within that scope (i.e. no real budget to work with, despite the 50% interest), and they squeeze a bit more each year, meaning it's an uphill battle each year to get a raise or promotion. On top of that it's a cashcow in an otherwise dying and slowly shrinking business sector.
In other words a terrible place for general salary growth.
So I'd add two points to your list which is to: look for (1) profitable companies, (2) in expanding markets, (3) that aren't owned by VC.
Startups have their own set of rules where (3) doesn't really apply as much.
The appointed management team has to operate within that scope (i.e. no real budget to work with, despite the 50% interest), and they squeeze a bit more each year, meaning it's an uphill battle each year to get a raise or promotion. On top of that it's a cashcow in an otherwise dying and slowly shrinking business sector.
In other words a terrible place for general salary growth.
So I'd add two points to your list which is to: look for (1) profitable companies, (2) in expanding markets, (3) that aren't owned by VC.
Startups have their own set of rules where (3) doesn't really apply as much.