If you're just hiring a dev as your first employee , it's most probably a bad decision. Your first hire should always be your co-founder.(unless you already have a product). It should atleast be someone who's willing to work with you on the product , who has or wants to share your vision . Someone who either loves your idea , or someone who's passionate in working in the industry.
Either way , the person should feel invested in the company , so just paying him for his code won't be a ideal option . I mean , think of it , if you're paid for your code , it means , you get paid almost $4000 /month even when the idea gets only 100-500 installs . So they guy doesn't need to work his ass off to see the idea succeed , so he doesn't have any real commitment.
So i would suggest finding someone who's passionate and giving them smwhere around 20%-40% equity , based on how much you think they wld be contributing . It is also important that they don't feel that they're being ripped off , cause they're your partners
Either way , the person should feel invested in the company , so just paying him for his code won't be a ideal option . I mean , think of it , if you're paid for your code , it means , you get paid almost $4000 /month even when the idea gets only 100-500 installs . So they guy doesn't need to work his ass off to see the idea succeed , so he doesn't have any real commitment.
So i would suggest finding someone who's passionate and giving them smwhere around 20%-40% equity , based on how much you think they wld be contributing . It is also important that they don't feel that they're being ripped off , cause they're your partners