As an interim CTO who helped a number of clients find good hires, I can say I'm definitely under the impression that a large part of grandes ecoles talents is siphoned every year by FB, Google, MS and the likes (which makes it harder for new startups to hire).
I work at a startup and my cash comp is inline with cash at Google et all. The expected value of equity (read: last valuation prices) is also in line but obviously illiquid.
I got ripped off at the first two startups I worked for but learned my lessons.
Don't be busy, create obvious value along the actual company line.
You're most likely not working for the founders, it's really the stakeholders and at least some of these have money. Make sure the money is found for your salary (believe me they find the money for the lawyers).
Be prepared to move if necessary.
It's an uneasy compromise at first, but eventually it becomes clear the best interest is not having the best employees constantly flirting with a healthy stream of recruiters.
There's very little risk in joining a startup in France. You'll get almost exactly the same benefits as someone working at a big co. Work hours, vacation, retirement, healthcare, unemployment: everything is regulated by labor laws.
But when a new grad from a top school can get 40k at a startup, no bonus no equity, or 70-80k total comp at Google, it's a no-brainer.
