Nudge Public Compensation Plan
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Last updated: 5/22/18
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Start here:
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Hey! Thanks for checking out our Public Compensation Plan, this is something we're very passionate about. Startups are challenging for many reasons, but what we've
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found in doing this for a while, is that transparency and honesty can help with much of what we face in the journey. This is our attempt to be honest about our current position, and
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transparent about our compensation. We may not get it right from the start, but we'll be updating this as we learn through the process. If you have any feedback, we'd love to hear
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it so drop us a note at hello@nudgetv.com.
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Goals:
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-Equal pay - this transparency ensures that everyone is equally compensated.
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-Camaraderie - we're all in this together, and taking a significant discount from market pay rates to have an equity stake in building something we believe in.
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Formulas:
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Base Pay = Bootstrap Base * Cost of Living Multiplier * Experience Factor
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Initial Equity = Role Equity / Risk Factor
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Definitions:
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-Market Base: We used PayScales data around compensation in San Francisco for each role as the starting point
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-Bootstrap Base: Discount to Market Base given our early status
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-Cost of Living Multiplier: We used the data from Numbeo to figure out which places are more expensive to live than others so we can take that into consideration
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-Experience Factor: Multiplier to take into consideration an individual's domain experience and expertise. This is a tricky calculation because it's a moving benchmark since
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we do not believe experience is just years at a company, projects completed, number of companies they've helped, etc.
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-Role Equity: The baseline equity granted for the role
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-Company Size: How large the company was when the employee joined
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-Risk Factor: How risky the company was to join which is determined by the "Company Size"
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Notes:
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-These numbers and calculations are all subject to change.
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-We will not negotiate these rates. If we make changes it will be for everyone in the role, division or company. Not an individual.
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-We took a lot of inspiration from Buffer, and used their open salaries as a template. You can learn more about the origin of their open salaries here:
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https://open.buffer.com/salary-formula/
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-Nudge salaries are based off of the "Bootstrap Base" which is a significant discount from the "Market Base". This discount (look at comment to see current discount)
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is because of the very early stage of Nudge, and the fact that we have not yet taken any outside capital.
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-We've carved out 20% of Nudge, in equity, for employees and advisors
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-For equity calculations we consulted multiple resources and took great inspiration from Nivi's article on Venture Hack which you can read here:
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http://venturehacks.com/articles/option-pool-shuffle#market'
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