Wrathamon
Adventurer
There are really three main schools of thought:
1. every new PC starts at 1st level (for reasons like immersion, there's no penalty for death if everyone just starts at the higher level anyway, etc)\
2. every new PC starts at level 2, 3, or 4 for instance. This is usually for people who prefer PCs to be somewhat competant, but not auto-high level like other PCs may be
3. every new PC starts at the same level as the rest of the party (convenience
We did a different approach from AD&D and basic all the way through 3rd but soon dropped it during 3rd because it started to not be fun.
You start 1 level lower than the lowest party member or 1st level which ever is higher.
This was later modified during 3rd edition to 1 level lower than the lowest party member but with xp equal to just needing 1 more point of xp to level (so basically you have one session of being one level lower). To finally we just dropped it and said you start at the same level as everyone else but at the lowest xp value, and eventually we just dropped tracking XP and said everyone levels when the dm says to level, which has carried through till now.
I can see us going back to the 1 level lower again in 5th and it not really dramatically changing play as much as it did in the past.