How much should you pay fresh graduate employees in a startup?

According to Beamstart's COO Wallace Ho, he would usually look at the market rate offered which can be found on sites like Glassdoor. This would differ to different countries and industries as well. 

It is also normal for businesses to pay 40-80% of their gross revenue on employee compensation such as salary, benefits, and bonuses. 

Fringe benefits are also accounted as a factor in determining pay. social security taxes, workers’ compensation such as oil fuel or public transportation, normal and maternal benefits, and unemployment insurance that businesses need to pay. Optional benefits include group health plans and retirement benefits.

Usually lower than what corporates would pay, but you can incentivise them with stock options if they stick around long enough.

Ultimately it's all about "why working for your company is better than anywhere else".

Most fresh graduates today are more about learning than earning.