Beta

Slashdot: News for Nerds

×

Welcome to the Slashdot Beta site -- learn more here. Use the link in the footer or click here to return to the Classic version of Slashdot.

Thank you!

Before you choose to head back to the Classic look of the site, we'd appreciate it if you share your thoughts on the Beta; your feedback is what drives our ongoing development.

Beta is different and we value you taking the time to try it out. Please take a look at the changes we've made in Beta and  learn more about it. Thanks for reading, and for making the site better!

Tech Startup Publishes the Salary Of Every Employee including the CEO

Hugh Pickens DOT Com (2995471) writes | about 6 months ago

2

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.”"

cancel ×

2 comments

Incomplete equation? (1)

hcs_$reboot (1536101) | about 6 months ago | (#45807051)

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..

Re:Incomplete equation? (0)

Anonymous Coward | about 6 months ago | (#45807229)

This. Lots of other ways to pad the paychecks of the top brass besides salary.
Once the company is public, don't they have to make public the stock holdings of officers and board members?

Check for New Comments
Slashdot Account

Need an Account?

Forgot your password?

Don't worry, we never post anything without your permission.

Submission Text Formatting Tips

We support a small subset of HTML, namely these tags:

  • b
  • i
  • p
  • br
  • a
  • ol
  • ul
  • li
  • dl
  • dt
  • dd
  • em
  • strong
  • tt
  • blockquote
  • div
  • quote
  • ecode

"ecode" can be used for code snippets, for example:

<ecode>    while(1) { do_something(); } </ecode>
Create a Slashdot Account

Loading...