Are you good with numbers, data, or spreadsheets? Don’t be afraid to show off your skills — as it turns out, being a “math geek” is quite lucrative.
New data from PayScale reports that the median salary for math majors is $70,900 — compared to a median salary of $58,600 for all college grads. Some professions, such as data scientists and quantitative analysts, are even higher, with median salaries upwards of $100,000.
The golden rules for a compensation system that strikes the fine balance between a startup’s needs and keeping employees happy.
“You can’t be transparent if you’re not paying fair, and if you are, there’s no reason to not be transparent.”
“Most startups overpay for talent because they undervalue their own equity — so the candidate will too,”
“You should not lose candidates because another startup at a similar stage is paying them more cash.”
1) No one is ever happy with compensation, and compensation has never made anyone happy
2) People always find out what everyone else is making.
3) Create a system that revisits compensation only 1-2x a year.
4) On the spectrum between formulaic and discretionary compensation, be as formulaic as you can.
Ioday, a good balance of “grounding” and “stargazing” is vital to preparing the organisation for the future. The board must look closely at the here and now, making sure everything is working correctly; otherwise we run the risk of missing signs of everything from neglect to malfeasance. We must also look into the next 10 to 15 years to make sure that the organisation has a robust future to look forward to.
Individual directors will increasingly find themselves being held to account for the choices that they have made in the boardroom in many areas, be it around executive compensation or “innovative” tax strategies.
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