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+ - Tech Startup Publishes the Salary Of Every Employee including the CEO 2

Submitted by Hugh Pickens DOT Com
Hugh Pickens DOT Com (2995471) writes "Paul Szoldra reports at Business Insider that Joel Gascoigne, CEO of social media startup Buffer, reveals his salary along with the salary of every single employee in the company, and includes the formula the company uses to get to each one. "One of the highest values we have at Buffer is transparency," says Gascoigne. "We do quite a number of things internally and externally in line with this value. Transparency breeds trust, and that’s one of the key reasons for us to place such a high importance on it." Gascoigne, who has a salary of $158,800, revealed the exact formula Buffer uses to get to each employe's number: Salary = job type X seniority X experience + location (+ $10K if salary choice). Gascoigne says his open salary system is part of Buffer's “Default to Transparency" and says Buffer is willing to update the formula as the company grows but hopes that its focus on work/life balance fosters employees that are in it for the long haul. “In Silicon Valley, there’s a culture of people jumping from one place to the next,” says Gascoigne. “That’s why we focus on culture. Doing it this way means we can grow just as fast—if not faster—than doing it the ‘normal’ cutthroat way. We’re putting oil into the engine to make sure everything can work smoothly so we can just shoot ahead and that’s what we’re starting to see.”"
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Tech Startup Publishes the Salary Of Every Employee including the CEO

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  • What about bonuses? Stock options? Also, "merit" is not part of the equation either. So, unless you're promoted, even if you do a good job you'll get the exact same salary as the incompetent next door who has the same job, seniority and experience..

Never appeal to a man's "better nature." He may not have one. Invoking his self-interest gives you more leverage. -- Lazarus Long

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