It’s important to us that Relayers feel valued for the impact they have on our mission and growth. We want all Relayers to feel engaged and motivated to do the best work of their careers here. Our Total Rewards are one way we can ensure Relayers feel valued.
Total Rewards Offerings are more than just a salary. Think of your salary as the backbone of your compensation or your total rewards package. However, your total rewards package goes beyond salary, including equity offerings, benefits, perks, and growth opportunities that add depth and value to your experience, creating a well-rounded and fulfilling work environment.
This guide is focused on detailing our cash compensation philosophy. You may also see us call this “salary” or “salary compensation” as you keep reading on.
Every year, the People Team sets out on a mission to gauge Relayers' sentiments regarding their Total Rewards Package. Their feedback, combined with extensive market research on compensation and rewards trends, will result in a Total Rewards Review. By keeping tabs on how comparable companies are rewarding their teams, we can make sure our offerings stay in line with the market.
Our Compensation Philosophy is an internal open access document that outlines how we approach cash compensation at Relay. It focuses on giving Relayers context on how and why we pay the way we do. Within it you’ll find our design principles, how we connect the dots to our values, an outline of our process, and important definitions.
Design Principles:
Core Elements:
| Strategy | Relay rewards impact, so we follow a “Pay-for-Performance” compensation model. At Relay we call it Pay for Impact. |
|---|---|
| Types of Comp Offered | Base Pay and Equity for all roles; Variable Pay (Commission) for Sales |
| Benchmarking | Benchmarking is how we refine the market data we pull to a dataset we want to align to. We benchmark “our size and stage”, which means we compare our compensation to companies that look most like us. We consider a number of factors, including: the industry (tech companies vs industrials); stage (privately held and not yet profitable versus publicly traded); the number of employees; the annual revenue; and the amount of capital that’s been raised. |
| Building the Bands | All positions are assigned a job level that reflects the responsibility level, impact, seniority, knowledge, skills, and job title. Internally these job levels can be found on each team’s Career Pathway document. These levels form the basis of our different salary bands. |
| Timelines | Annual refresh of salary bands happens once per year, in Q1. If any Relayer’s salary should change as a result of the band changes, that will be effective at the start of Q2. |