<aside> 🌎 Same work, same pay regardless of location, gender identity, or sexual orientation.

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How do we benchmark pay?

We participate in the Global Radford Industry Survey, which provides a vast collection of remuneration data from over 1,700 technology companies across the United States. To contribute to the survey, we pay to participate and submit our anonymized pay information annually.

We apply a benchmarking formula to calculate pay for every role. Using 50th percentile pay information filtered by industry (software services and products) and location (San Francisco Bay Area), we index all pay at 95%. This indexation is applied consistently to all non-sales team members, regardless of their location.

Sales roles

Sales executives, regardless of their location, have a base and variable component of their salary, that is documented in ‣.

When do pay reviews happen?

1. Every July, we conduct a pay review for the entire team using the available Radford data. Our objective is to ensure fair and competitive compensation. We gather new pay data for each Float role and utilize the same benchmarking formula mentioned above👆 to assess current market pay. Regardless of performance, location, or tenure, we apply increases for roles where the data indicates a pay raise. We do not decrease pay, even if the data shows a decrease in pay for a specific role. Managers communicate the increases in July, and the adjustments take effect on August 1st.
2. Suppose there are notable changes to a role in scope, role level, or title (such as moving from level 3 to level 4 or taking on a larger scope). In that case, your pay will be reviewed outside of the annual pay review process and updated based on benchmarking for your revised role.

What if I join the team during the pay review cycle?

If you join during the pay review cycle, your pay will remain at the rate you were hired at until your probationary period has been ended. Once the probation has ended your rate will be adjusted to the new rate.

📚 Resources

• In 2022 Georgie, our Director of People and Operations talks about our Compensation Strategy on Pilots podcast.
• In July 2021, we changed how we calculate pay, which Glenn wrote about here.

<aside> 💡 Have questions about how we benchmark pay? No worries, ask your manager or send Sarah a DM on Slack.

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Page Ownership: Operations Team, Sarah

Last update: August 23, 2024

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