If you work in tech and wonder how your pay package compares to your peers, Wealthfront has a handy little tool for you.
The San Francisco-based startup is a software-based financial advisor and, in its mission to bring financial and investment advice to a broader audience, CEO and president Andy Rachleff said, the company is starting with people in tech.
The new interactive tool, launched today, lets tech company employees sort by job function, level, company size and region to see the range of salaries and packages for each role.
“There are a lot of good sites on the net – Glassdoor.com, Salary.com – for finding salaries. But it’s very opaque when it comes to how much equity people should get,” Rachleff said. “We think that a symmetrical market is a better market.”
To create the Startup Compensation Tool, Wealthfront licensed compensation data from an annual survey of 135 private technology companies, which included 8,000 employees (as part of the agreement, the startup can’t disclose the source of the data).
A quick search, for example, shows that biz dev folks tend to earn higher salaries than those in product development (salaries in the 75th percentile are $ 185,000 vs. $ 160,000) but get less equity (.098 percent vs. .113 percent – for packages in the 75th percentile).
The data also reveal that the mean cash compensation across all tech companies was $ 112,000 and the mean equity compensation was .072 percent.
Not surprisingly, the smallest companies (with fewer than 20 employees) granted the largest equity packages but, interesting, Rachleff pointed out that once a company reaches 20 employees, the salary doesn’t significantly increase (although cash compensation is slightly higher in companies with more than 50 employees).
Earlier this year, the company launched a simulator for figuring out the best time to sell stock post-IPO and it plans to build out a fuller suite of tools in the future.
