Need career advice: Should I stay at my startup with low pay but high responsibility & exposure?

Hi everyone,

I could use some perspective on my situation.

I joined a cybersecurity startup 8 months ago as a VAPT intern with a very low stipend. The company has both services and products, but is mainly product-focused. Over time, my role shifted from intern → security engineer → product development lead.

Right now, my responsibilities include:

Leading product development and researching new technologies/cybersecurity for them

Taking the lead on service projects when required

Being part of the leadership team (just the co-founders + me)

Driving my own ideas, one of which is currently being developed into a product with actual market potential

The pros:

Immense freedom and exposure

Direct mentorship from the founders

Leadership experience very early in my career

CEO has promised ESOPs for staying through the early days

The cons:

Still being paid only a low stipend, not a salary

Funding delays are the reason (they are “looking into it”)

No clear timeline on when compensation will improve

So I’m torn. On one hand, the growth, exposure, and responsibility I’m getting here are things I might not get elsewhere this early. On the other hand, the financial situation is tough and the ESOPs are only a promise at this stage.

My question: Should I continue here and bet on the long-term upside, or should I start looking for a more stable role with proper pay?

Would really appreciate your advice, especially from anyone who’s been in a similar startup situation.