Goodway group salaries4/24/2023 By starting with a base of $1,000 in San Francisco, we look up how much money we would need to have the same standard of living as the city we’re comparing.īy finding the Adjusted Cost of Living + Rent Index, each city falls into one of the following bands: This compares the Cost of Living + Rent Index between two cities. Then, using this number the city falls into a defined Cost of Living Band. Using Numbeo, we calculate the Adjusted Cost of Living + Rent Index to compare two cities. We start by understanding the difference in cost of living in the team member’s city compared to San Francisco. We chose a high cost of living city as our benchmark so we can keep our salaries competitive. We have been remote from the start and a big piece of that decision was wanting to access talent from anywhere in the world. Here it is in action for our Growth Marketer role:Ĭost of Living Multiplier: How do we adjust for remote? Using this Career Framework, we’ve entered early-stage company salary data at each level of experience for every role at Tuff. Rather, they are defined by increasing amounts of Ownership and Initiative. Steps are defined at a company level, not specific to your role. At Tuff, there are 5 steps housed within each Level and are meant to mark smaller milestones of growth. Steps : Steps make up the horizontal axis of the career framework. Levels are defined for each role at Tuff and mark distinct jumps in terms of area knowledge, role complexity, and scope. At Tuff, there are 5 levels for individual contributors: Entry, Intermediate, Advanced, Expert, and Principal. Levels : Levels make up the vertical axis of the career framework. We’ve created a Career Framework with a system of Levels and Steps for each role to make sure teammates have the opportunity to grow in flexible ways. It was also important to us to use a data source and apply structure to our salaries to reduce bias and hold us accountable to paying people fairly. We wanted to create a compensation formula that was flexible enough to adjust for factors like experience and location but broad enough that it didn’t require in depth calculations and research every time we bring on a new team member. To support these behaviors, we compensate our team in two ways: Base Salary tied to a Career Framework and Profit Sharing Base Salary through a Compensation Formula Also, as a bootstrapped team, it is important for each of us to understand how our spend impacts our overall profit and ability to help our clients grow. We are dedicated to creating a great place to work where team members understand how they can grow and develop at Tuff. Whether you finish the rest of that word with -ensation or -licated, compensation is an important piece of running a business and hiring a great team.
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