Really depends on how big your angel round is. If you've raised 200k and you've got 3 founders who all require 60k salaries each you'll get a year of runway which isn't very long and that's not even taking into account the possibility or need for taking on more employees.
I recognised early on that 'end of runway' anxiety is very real for me, as it creeps up it really affects your decision making on product direction and how you spend your time.
I would prefer to work backwards and do whatever it takes to make the angel round cash last at least 24 months without sizeable revenue with the salary capped at somewhere between 60-70k if the angel round was big.
If that cuts your salary from 60k to 30k so be it, make the necessary adjustments, it might even include taking a part-time gig consulting/designing/selling or whatever it is your skillset allows you do. In the same vein that the cash you spend now is 'expensive', any cash you earn on the side is should be viewed as a necessary investment of time to help you reap the returns later if your startup salary can't stretch to cover all your costs.
Doubling your runway with part-time work only helps if it doesn't reduce your velocity by two or more, which it carries a high risk of doing.
That being the case, you're better off with the shorter runway in almost every respect (salary, time to market, quicker failure if it's going to tank anyway, less stress of juggling two jobs).
Then, you simply raised too little. I always thought that raising an angel round means "finally to be able to focus 100% on the start up". I'm not sure whether your investor would like it, if you spend your time doing other stuff than making this startup big (I sure wouldn't).
However you might not be able to wish more funding into existence. In that situation, the approach "we've got X money and we need Y runway so we're going to adjust our salaries accordingly" seems sensible. As per my other comment, totally agree that part time work is unlikely to be a good solution.
I recognised early on that 'end of runway' anxiety is very real for me, as it creeps up it really affects your decision making on product direction and how you spend your time.
I would prefer to work backwards and do whatever it takes to make the angel round cash last at least 24 months without sizeable revenue with the salary capped at somewhere between 60-70k if the angel round was big.
If that cuts your salary from 60k to 30k so be it, make the necessary adjustments, it might even include taking a part-time gig consulting/designing/selling or whatever it is your skillset allows you do. In the same vein that the cash you spend now is 'expensive', any cash you earn on the side is should be viewed as a necessary investment of time to help you reap the returns later if your startup salary can't stretch to cover all your costs.