How much should you look to pay developers? (Pre-Seed)

$1,000,000

https://comedyfestival.files.wordpress.com/2017/06/one-million-dollars.jpg

I'm a full stack developer myself and I think there's a lot of variables at play that affect something like this. Off the top of my head, I can think of the following major influential factors:

• Where are you located? Is it important to have developers located in the same area? Timezone? Country?
• Are you building a "prototype" (i.e., something that you're going to throw away once you validate the market more) or are you trying to build the "final product" from the beginning?
• What space are you in? Ecommerce, blockchain, medical, financial - each sector has different levels of expertise and regulatory requirements that a good developer would need to be knowledgeable of.
• Are you offering salary only, salary plus options, salary plus equity? Lots of ways you can spread around risk vs upfront payment.
• Are you working with full-time developers or hiring contractors for a season, let them build V1, then hire developers later?

This is obviously more questions than answers - I don't think I have the standing to really answer any of them, but hopefully these questions at least spur some additional thought. Good luck!