We strive to have our compensation practices be:
- Empower individual ownership
We'll continually reflect and work to improve our compensation strategies to try to further achieve these goals
Transparency & Consistency
For every role we have a consistent compensation benchmark band that we use for everyone. All of these bands are visible to all members of the team and regularly reviewed. If we increase the band for a role we will update all existing team members in that role accordingly.
We keep an active list of all current team salaries so that we can be as transparent as possible.
Competitive Local Rates
We strive to offer competitive (within our means) salary offers relative to the local rate for a team member. All of our compensation bands are benchmarked against a salary in London. We then take that benchmark rate and multiply it by our local rate multiplier for the prospective team member's region to determine the salary for that team member. The equity component of compensation does not vary by region.
The local rate multiplier is calculated by combining an average benchmark for competitive local rates as well as a benchmark for employer overhead in the region. These multipliers are then bucketed to give a rounded and easy to understand final number.
Full salary multiplier calculations can be found here.
We offer competitive local rates because:
- We want the outcome of our salaries to be as equivalent as possible to different team members. If we used equal rates globally then a team member living in a more expensive location would have relatively significantly less discrentionary income available than a team member living in a less expensive location.
- We want to have a globally diverse team and to do so we have to pay competitive rates in each market
Where possible we pay in the local currency.
Negotiating Should Not Be Needed
We strive to make our compensation as competitive as we can make them it so that there is not a need to negotiate offers for salary/equity. Negotiating salary has a tendancy to result in inequitable distributions of salaries across a team over time and we want to proactively avoid that. As an early stage company, we do have limitations to the compensation we can offer, but we will always look to be as competitive and generous as possible with our offers within those bounds.
Equity as a Key Piece of Compensation
Every Sourcery team member is expected to act as a Manager of One and as an Owner of the product and the company. That's why we want to make sure all of us truly do own a portion of the company. Every compensation package includes stock options as an important component of the offer.
In addition to cash and equity compensation all employees are entitled to a number of other benefits. See more details on the Benefits page.
In the case where a team member's local regulations require benefits in excess of anything laid out in the handbook, these will also be honoured.
Regardless of where you live we offer contributions to your pension
Payroll processing will depend on the location of the team member:
- UK based team members payroll will be handled by Telfords Accountants
- Non-UK based team members payroll will flow through Omnipresent (the company we use to allow us to hire globally)