Introducing Open Salaries at Buffer: Our Transparent Formula and All Individual Salaries
Eric Nakagawa stashed this in startups
Stashed in: 106 Miles, Hiring, Startup Lessons, Buffer
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Open culture = good
Full transparency = good
Pushing startups out of their comfort zone = good
Finally, this is a great recruiting tool.
It's fascinating. No one has ever done this before, to my knowledge.
Looking at this it actually seems reasonable:
Salary = job type X seniority X experience + location (+ $10K if salary choice)
- job type = base
- happiness hero = $45,000
- content crafter = $50,000
- engineer = $60,000
- designer = $60,000
- Operations officer base = $70,000
- Executive officer base = $75,000
- seniority = base multiplier
- Senior + 5% base and 3k/$m revenue
- Lead +7% base and 4k/$m revenue
- VP + 10% and 6k/$m revenue
- C-level +20% and 8k/$m revenue
- COO +20% and 10k/$m revenue
- CEO + 20% and 12k/$m revenue
- experience = multiplier
- Master: 1.3X
- Advanced: 1.2X
- Intermediate: 1.1X
- Junior: 1X
- location = additional
- A: +$22K (e.g. San Francisco, Hong Kong, Sydney, London, Paris, New York)
- B: +$12K (e.g. Nashville, Birmingham, Vienna, Austin, Vegas, Tel Aviv)
- C: +$6K (e.g. Talinn, Warsaw, Bucharest, Santiago)
- D: +$0K (e.g. Manila, Delhi, Hanoi)
- equity / salary choice
- you get a choice of more equity or more salary, if you choose salary, you get +$10K
5:19 PM Feb 27 2014