Just wanted to reply exactly that. Obviously fair is very subjective and different to both parties involved. But we try to find a good combination of salary + bonus and also investment in the company itself (be it retreats or taking risks with new products like Bugfender), which then results in temporarily lower bonuses, but an expected bigger payoff and possibilities for everyone in the long turn.
Yep, exactly that. A while ago I took a consulting gig where the company couldn't afford my rates; we just negotiated working 30 hours instead of 40 at a weekly rate that fit within their budget. They got the expertise they wanted, while I got time on the side to work on other stuff. Win-win.
If you can't match salaries, then you can move other levers (work/life balance, flexibility, etc.) in order to get an agreement that's suitable for both parties. For example, I don't think Google allows for part-time engineers for the majority of the rank and file. For a startup, if they're more concerned about results than butt-in-chair hours, it might work out depending on the role.