diff --git a/5_People/career.md b/5_People/career.md index 3d7f94f..6382674 100644 --- a/5_People/career.md +++ b/5_People/career.md @@ -2,7 +2,7 @@ ## Salary System -Instead of lengthy and often biased per-person negotiations, Niteo uses a Salary System to set salaries. Our goal is to have a fair and objective way to set salaries for all positions with as little subjective input as possible. The system excludes negotiations for individual salaries, and thus leveling the playfield, no matter your position, life situation, or willingness to negotiate. +Instead of lengthy and often biased per-person negotiations, Niteo uses a Salary System to set salaries. Our goal is to have a fair and objective way to set salaries for all positions with as little subjective input as possible. The system excludes negotiations for individual salaries, and thus leveling the playfield, no matter your position, life situation, or willingness to negotiate. We've done a lot of research before creating a system that works for us and big thanks go to companies who publish details about their own Salary Systems. These include [Basecamp](https://m.signalvnoise.com/how-we-pay-people-at-basecamp/), [Travis CI](https://www.youtube.com/watch?v=N8u9H6JDAzo), [Buffer](https://buffer.com/salary/data-scientist-2/average/), and others. We hope that by publishing ours, we inspire other companies to do the same. @@ -14,7 +14,7 @@ Find [the salary calculator on our website](https://niteo.co/salary-calculator). ### Salary Formula -Our salary formula consists of three variables: Base Salary for the role, Location Factor, and Years Factor. +Our salary formula consists of three variables: Base Salary for the role, Location Factor, and Years Factor. This is the Salary Formula: @@ -26,11 +26,12 @@ This is the Salary Formula: #### Base Salary -Niteo Base Salary is calculated by taking the [*Salary.com salary base for the role in United States*](https://www.salary.com/research) and converting it to EUR. +Niteo Base Salary is calculated by taking the [*Salary.com salary base for the role in United States*](https://www.salary.com/research) and converting it to EUR. To avoid day-to-day currency fluctuations we take [the 10-year exchange rate average](https://www.ofx.com/en-au/forex-news/historical-exchange-rates/yearly-average-rates/) to convert the Salary.com amounts from USD to EUR, Niteo's primary currency. The exchange rate for 2020 is _1.20_. -Base salaries get calculated once a year, in January, during our [bi-annual IRL](https://blog.niteo.co/irls/). +Base salaries get calculated once a year, in January, during our [bi-annual IRL](https://blog.niteo.co/irls/).
+If the new calculation would result in a decreased salary for a Nitean, we instead pin that salary until the next year. #### Location Factor @@ -65,9 +66,9 @@ Here's the Years Factor for the first couple of years: We use four primary careers for roles: technical, marketings, design, and operations. Each career has different levels or roles, based on which we define the responsibilities and salary. -Looking at salaries, you might feel that higher positions are a bit underpaid while the lower positions are overpaid. The idea is that we slightly overpay the lower positions to get the best juniors, while slightly underpaying higher positions in order to be more lean. At the same time we expect that in higher positions an additional 1000 EUR does not have a high marginal utility and they value our culture and benefits more. That said, we compensate loyalty with the Years Factor, profit sharing and (soon) equity. +Looking at salaries, you might feel that higher positions are a bit underpaid while the lower positions are overpaid. The idea is that we slightly overpay the lower positions to get the best juniors, while slightly underpaying higher positions in order to be more lean. At the same time we expect that in higher positions an additional 1000 EUR does not have a high marginal utility and they value our culture and benefits more. That said, we compensate loyalty with the Years Factor, profit sharing and (soon) equity. -We don't have a hard requirement that you need to hit all checkboxes to be promoted to the next level. You need to hit most of them, consistently. It helps if you are already hitting one or two from the level after the next. It also helps if you are dealing with customers directly and/or keeping production systems online. +We don't have a hard requirement that you need to hit all checkboxes to be promoted to the next level. You need to hit most of them, consistently. It helps if you are already hitting one or two from the level after the next. It also helps if you are dealing with customers directly and/or keeping production systems online. Before leveling up, you are also expected to: * read three books: one industry-specific, one about company culture and one on personal growth (our [recommended reading list](/5_People/booklist.md)); @@ -100,9 +101,9 @@ Trialists do not yet have vacation hours or allowance and as such are not eligib All time spent doing work-related activities counts as working hours. The only exception is the commute to the office. Working hours include reading the documentation, answering emails, attending conferences, etc. -Track all hours spent working for the company, including transport to a meeting, conference (1 conference day = 7.5 hours), transport to a conference (up to 7.5 hours per day), reading purposefully chosen technical material, and participation in courses. +Track all hours spent working for the company, including transport to a meeting, conference (1 conference day = 7.5 hours), transport to a conference (up to 7.5 hours per day), reading purposefully chosen technical material, and participation in courses. -Everyone tracks working hours for themselves. At the end of each month, add your working hours and sick hours to Scrooge. If you are a Trialist, then just send the total hours to Dejan on Slack. +Everyone tracks working hours for themselves. At the end of each month, add your working hours and sick hours to Scrooge. If you are a Trialist, then just send the total hours to Dejan on Slack. ## Severance Policy