<aside> 🌎 Same work, same pay, no matter where you live
In July 2021, we changed the way we calculate pay, which Glenn wrote about here.
We take part in the Global Radford Industry Survey, and we pull a huge collection of remuneration data from across the US - from more than 1,700 technology companies. We pay to take part in the survey and we contribute to the survey by submitting Float’s anonymised pay information every year, too.
We apply the same benchmarking formula to every role to calculate pay. We use 50th percentile pay information, filter it by Industry (Software Services and Products), and then by location (San Francisco Bay Area). We then index all pay at 95%. We index all team members the same, regardless of their location.
If a team member's start date falls before or during the pay review process, they will receive any increases on the same date as the rest of the team. If their start date is after the review process, they will get the new rate once their probation period is finished.
Page Ownership: Operations, Georgie